1.1. Miss X deposited R5000 in a saving account paying 3% Interest compounded daily. Find Future value of the money and interest she earned at the end of 2 years. (NB: NOT LEAP YEAR).
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Accounting
1.1. Miss X deposited R5000 in a saving account paying 3% Interest compounded daily. Find
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- Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- Refer to the present value table information on the previous page. If Kathleen put 3,000 in a savings account today, what amount of cash will be available 2 years from today? a. 3,000 0.857 b. 3,000 0.857 2 3,000 c. 4,000 0.681 0926 d. cannot be determined from the information givenA guy deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.09 per annum. Determine the future worth of the deposit?John Mojico invested her USD 20,000 in a BPI Time Deposit Account earning 2.8%simple interest for 2 years. What is the Accumulated Interest at the end of the 2ndyear?TOPIC: Principle of Finance
- A saver places £7,000 in an account. The account pays interest at the rate of 5% per year. She leaves the capital and interest earned in the account for 4 years. Using the equation M = P (1 + i)n, what would the amount grow to after 4 years?Jean deposited P2,000, P2,500 and P3,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit? Use one of the following formulas. Show complete solution.Using the image attached answer 3, and 4 below. 3) Isaac invested $77.000 in an account paying an interest rate of 4.6% compounded quarterly. Assuming no deposits or withdrawals are made, how much money, to the nearest cent. would be inthe account after 12 years? 4) Evan is going to invest in an account paying an interest rate of 5.4% campounded annually. How much would Evan need to invest, to the nearest dollar, for the value of the account to reach $1,360 in 5 vears.
- Miss Calledo deposited P 1,000, P 1,500 and P 2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 10% per annum. How much is in the account at the end of the 4th year?1.Calculate the compound amount when $4000 is deposited in an account earning 6% interest, compounded monthly, for 2 years.Suppose that $4500 is invested in an account that pays 2% annually and is left for 4 years. 1) How much will be in the account if interest is compunded quarterly? 2) How much will be in the account if interest is compouded continuously?
