Ahmad earned $475 last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year? $839.45 $827.52 $846.80 $831.10

Q: Jackie deposits GH¢200 at the beginning of each month for 5 years in an account paying nterest at 10…

A: Using excel FV function

Q: Alex invested $10,500 in an account that pays 6 percent simple interest. How much money will he have…

A: Simple interest is the method of calculating interest on the amount of investment. A fixed amount is…

Q: Steven just deposited $10,000 in a bank account that has a 12 percent nominal interest rate, and in…

A: Given information : Year end Cash flow 0 $10,000 1 $10,000 2 $20,000 Discount rate…

Q: Mariano deposited P5,000 today in an account that pays 8% compounded semi-annually. Two years later,…

A: Amount deposited today is $50,000 Interest rate “r” = 8% compounded semi-annually "m" is the…

Q: A man deposited $10,000 in a savings account when his son was born. The nominal interest rate was 8%…

A: The future value t is the estimated value of the deposit on a future date with an estimated interest…

Q: On June​ 1, Mia deposited $3,800 in an MMDA that pays 4​% interest. On October​ 31, Mia invested…

A: The amount earned on any deposits is the sum total of interest earned taking into consideration the…

Q: Lyndsay puts $1,000.00 into a savings account that pays 3% interest, compounded annually. As the…

A: When the interest is deposited after a year, interest is also received on the interest component…

Q: Ali contributed $1,000 per year for the past 9 years into an RRSP account, earning 3.8% compounded…

A: a) Ali leaves this amount ($10,496.48) for additional 5 years therefore, the worth after 5 years…

Q: At age 18, Marcia started depositing $2000 per year at the end of each year into an account earning…

A: Annuity, A = $ 2,000Rate of interest = r = 12%number of annuities, n = 8

Q: Timothy invests $5000 at 17% interest compounded daily for three years. How much does he have in the…

A: 17% interest compounded daily means the interest rate will be divided by 365 and n will be…

Q: Nine  years  from  now,  Sam  wants  to  have  an  amount  available  to  deposit  into  an  account…

A: ANSWER GIVEN ON THE NEXT SHEET

Q: to attend school Sam deposits $130 at the end of every month for two and one half years.what is the…

A: Future Value of Ordinary Annuity refers to the concept that finds out the value of the sum of all…

Q: Shiraz deposited $500 at the end of each year for 18 years in a savings account. If the account paid…

A: Using the Future value function in excel

Q: Ron has made deposits of $80.00 into his savings account at the end of every three months for 10…

A: The compound interest is when the interest earned in a period is reinvested thereby earning more…

Q: Belle decided to start a new investment account.  She deposits $1,000 into an account that earns…

A: Using excel FV function

Q: Zach depsoits a $38,000 one-time lump sum in an account with an APR of 7% that is compounded…

A: Future Value refers to the value of the current asset or investment or of cash flows at a specified…

Q: Peter makes a deposit at the end of every three months into a savings account that earns interest at…

A: Annuity refers to series of equalized payments that are paid or received at start or ending of…

Q: Being cautious with money, Cyril has contributed $1,700 at the start of every month into an RRSP,…

A: value of investment in 10 years from now can be calculated using following function in excel. FV…

Q: Darien invests $10,000 in an account that pays 3.2% interest per year, compounded semi-annually.…

A: The amount of money can be calculated as future value of the principal amount.

Q: value of the investment after 5 years b) How much interest was earned

A: An annuity is the fixed amount that is deposited at a fixed interval of time over a predetermined…

Q: Mrs. Kimberly deposited P 300, 000 in an account earning 8% compounded every 6 months. On the 2th…

A: Compound interest: Compound interest denotes an interest computed on the total initial deposits and…

Q: Ryan invests a sum of money in a retirement account with an annual interest rate of 7% compounded…

A: Annual interest rate is 7% Time period is 10 years Future value is 11,008.79   To Find: Initial…

Q: Frank invests $ 4500 dollars into an account earning interest compounded quarterly. After 10 years…

A: given, pv = $4500 fv = $5600 n =10 years m =4 (quarterly compounding)

Q: Mary just deposited $33,000 in an account paying 10% interest. She plans to leave the money in this…

A: In  the given question we require to compute the amount mary will have in account at the end of…

Q: On Juan’s 26th birthday, he invested $7,500 in a retirement account. Each year thereafter he…

A: A concept through which it is studied that the current worth of money is higher than its future…

Q: Andy invested a certain amount of money which he saves in account that earns 4% per year, compounded…

A: Present value of annuity payments of $3500 for 10 years at 4% is calculated as below:

Q: Lamar has received $2,000 each year for college from his grandmother for the four years that he was…

A: Annual Deposit = 2000 Interest rate(r) = 8% Years(n) = 4

Q: Omar was given $1,000,000 on his 2nd birthday. The money is put into an account that pays 4%…

A: Annuity refers to series of equalized payments that are paid or received at start or ending of…

Q: Frank invests $ 2500 dollars into an account earning interest compounded quarterly. After 13 years…

A: Future Value = Present Value * (1+r)^n Where, r =rate per period n = no. of compounding period i.e.…

Q: Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year,…

A: Amount is the sum of the initial principal amount and interest accumulated on it during the time…

Q: At the end of every 3 months, Sam deposits $150 into an account that pays 6% compounded quarterly.…

A: Investors invest in particular securities with an expectation of receiving some gains in future. The…

Q: Juanita has $100 deducted from her paycheck at the end of each month and put into a savings account…

A: Monthly Payment (pmt) = $100Interest Rate (rate) = 11%Type of Interest Compounded = MonthlyTime…

Q: Kia deposited $1,200, at the beginning of each year for 30 years in a credit union account. If the…

A: The series of payments to be paid at the beginning of every period is called annuity due.

Q: Derek will deposit $1,696.00 per year into an account starting today and ending in year 17.00. The…

A: Future value of a deposit refers to the sum total of amount (or deposits) at a certain future period…

Q: Isabella placed $5,000 in a savings account which earns 5.3% interest, compounded every year. How…

A: The formula used as follows: A=P×1+rn

Q: Carol

A: The basic compound interest formula A = P(1 + r/n)nt .Priincipal is $1500,t= 25 years,r=3%.

Q: Wasim invests $220,000 in an annuity that earns 8.50% interest compounded quarterly. It makes…

A: An annuity is referred to lump-sum payment made by you in return for regular disbursements,…

Q: How much must Riley have in the account for Scott to receive the $220 payments for 5 years? If Riley…

A: A stream of equal cash flows paid or received periodically is termed as annuity. Annuity is either…

Q: Bob has deposited $10,000 at the end of each year into a saving account for the last 12 years. His…

A: Future value: Value of $1 today is different, value of $1 in future. $1 today is more valuable than…

Q: Reesha left $5,750 in an account that paid 9% interest compounded annually. How much interest was…

A: Compound interest also called interest on interest. It is the addition of interest in the principal…

Q: Ericson deposited PhP 35,000 into his savings account that earns 4% interest. How much will he have…

A: Interest is calculated by multiplying the principal and rate by the time period.

Q: In December 2018, Eric puts $1600 into a bank account. He then deposits an additional $1000 each…

A: A study that proves that the 1value of money today is higher than the future value of money is term…

Q: Johnny deposits ₱45,000 in the Trust Savings Bank which pays 6% compounded monthly. How much will he…

A: Amount of money at the end of stipulated period can be calculated using the given formula: =…

Q: Ali deposits BD 2,500 in a savings account that pays interest at the rate of 5.5% per year,…

A: Given information : Deposits 2500 Interest rate 5.50% Time period (years) 14 The given…

Q: Last year, Charlie had $30,000 to invest. He invested some of it in an account that paid 10% simple…

A: Simple interest is one of the methods of calculating interest in which interest is calculated only…

Q: Yolanda deposited $1,200 at the end of each six months for 2 years in a savings account. If the…

A: The question is based on the concept of Annuity