10,000 was deposited in the bank every end of the year for 10 consecutive years. Then the sum of all deposits and interest was left to earn. The same rate of interest of 8%, net of taxes, compounded annually. What would be the sum of all deposit
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10,000 was deposited in the bank every end of the year for 10 consecutive years. Then the sum of all deposits and interest was left to earn. The same rate of interest of 8%, net of taxes, compounded annually. What would be the sum of all deposits and interests at the end of 15 years?
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- First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a depositof $62,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 9 years?Suppose $15,000 is invested in an account with an APR of 4.5%. If the interest is compounded annually, how much interest is earned over the first 6 years? If the interest is compounded monthly, how much interest is earned over the first 6 years?If $800 is deposited in a savings account at the beginning of each year for 12 years and the account earns 8% interest compounded annually, what will be the balance on the account the end of the 15 years (F)?
