Connie made deposits of $2,000 at the beginning of each year for four years. The rate she earned is 5% annually. What is the value of Connie's account in four years? Multiple Choice $8,260.00 $9,051.20 $8.260.20

Q: Ms. Simms made deposits of $540 at the end of every three months into a savings account. For the…

A: A concept that implies the future worth of the money is lower than its current value due to several…

Q: Kim deposits $1,000 in a savings account. Four years after the deposit, half the account balance is…

A: Compounding is a technique through which future value of present amount is computed at given rate of…

Q: Ms. Jones deposited $400 at the end of each month for 20 years into a savings account earning 6%…

A: Solution: The total amount in the saving account after twentieth year is the sum of future value of…

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: Catelyn makes deposits of $1438 at the beginning of every 6 months into an account earning 6.86%…

A: The future value after 2 years can be calculated with the help of future value of annuity due…

Q: Regina Henry deposited $20,000 in a money market certificatethat provides interest of 10% compounded…

A:

Q: Joshua borrowed $800 for one year and paid $40 in interest. The bank charged him a service charge of…

A: Annual Percentage Rate (APR) is the actual annual cost incurred by the borrower on the amount…

Q: Shayla deposited $4,000 into an account earning 5% interest per year, compounded every 6 months.…

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

Q: Alice Reed deposits $16,500 in Rye Bank, which pays 10% interest compounded semiannually.  What will…

A: In this we have to calculate the future value of the present value.

Q: Claudia intends to accumulate $35,000, so 6 months earlier she opens an account with $7,500, earning…

A: Simple interest = Principal * interest * time Amount = Principal + simple interest Amount =…

Q: An individual makes five annual deposits of Php 2,000 in a savings account tha pays interest at a…

A: The answer is shown below:

Q: Helen contributed $500 at the end of every month for the past 5 years into an RRSP account, earning…

A: Annuity means series of no. of finite payments which are same in size and made in equal intervals.…

Q: Shaun deposits $3,000 into an account that has an annual rate of 2.9% compounded continuously. How…

A: Deposited amount (PV) is $3,000. Annual rate is 2.9% compounded continuously. Period is 2 years 9…

Q: Kim Baker invested $250 at the end of every 3-month period, for 5 years, at 8% interest compounded…

A: If money has been deposited in an account at the beginning of every period for a specified duration…

Q: Sophia deposits 130,000 pesos at the end of each year in a savings account that pays a nominal rate…

A: Compounding that is constant is referred to as continuous compounding. Some people imagine…

Q: Diego invested 10,500 the bank gives him 2,520 simple interest per month.If you receive 2,520 as…

A: Solution:- Interest means the increase in amount invested for a certain time period for deferring…

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

A: Given, Deposit amount = $10,000 Nominal interest rate = 12% (Compounded monthly) Additional…

Q: Meghan invested his savings in a bank at 3.75% compounded quarterly. How much money did he invest to…

A: To calculate investment value required after 8 years, present value of annuity due formula will be…

Q: nifer deposited $54,000 at Bank of America at 20% interest compounded quarterly. a) What is the…

A: In this we need to find out the effective annual rate.

Q: Lauren deposited $1,200 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Deposit = 1200 per month END OF PERIOD DEPOSITS Time Period = 7 Years  × 12 = 84 Months   Semi…

Q: Anita put up a bank account with an initial deposit Lou f P25, 000. After six months, she deposited…

A: Simple interest is the amount earned only on the investment principal.

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: Leslie and Mackoy both opened a savings account with a starting balance of P20,000 on the first day…

A: Given: Balance = P20,000 Interest rate = 8% Periods = 5 years

Q: Beverly Hills started a paper route on January 1. Every three months, she deposits $800 in her bank…

A: The question is based on the concept of future value calculation . The first part  use concept of…

Q: A woman deposited $10,000 into an account at her credit union. The money was left on deposit for 10…

A: Investment = 10,000 Total Time Period= 10 years First 5 years, 9% interest compounded monthly,…

Q: Tina deposited $20 in a savings account earning 5% interest, compounded annually. To the nearest…

A: Interest is the amount charged or received for loan taken or investment made. There can be simple…

Q: An individual makes five annual deposits of $2,000 in a savings account that pays interest at a rate…

A: Interest is the amount which is calculated on the amount of borrowings or finance. The amount of…

Q: Catelyn makes deposits of $1242 at the beginning of every 6 months into an account earning 6.68%…

A: This question requires us to calculate the Deposits Balance after 2 years in which $1,242 is…

Q: John and Susan just opened savings accounts at two different banks. Each deposited $1,000. John's…

A: Given information: Deposit amount $1,000 John bank pays 10% annual rate Susan bank pays 9.5% annual…

Q: Ann deposits $500 at the end of each month into her bank savings account. The bank paid 8% nominal…

A: The future value of certain recurring payments at a specified certain intervals is the future sum at…

Q: What is the value of the account at the end of 9 years?

A: Depositing equal amounts at the end of the period for a fixed time period is in the form of an…

Q: A woman deposited $10,000 into an account at her credit union. The money was left on deposit for 10…

A: a) at the end of 5 years:F = 10,000 (F/P, ¾%, 60)* = $15,660.00 * i = 9/12 = ¾% n = (12)(5) = 60at…

Q: Sandy Kupchack just graduated from State University with a bachelor’s degree in history. During her…

A: Present value: This is the amount of future value reduced or discounted at a rate of interest till…

Q: Samantha deposits $1,500 into the Park Street Bank. The account pays 1.12% annual interest,…

A: To determine the future value of $1500 after 3 non leap years at 1.12% annual interest, compounded…

Q: Mrs. Santos deposits P5,500 at the end of every six months in a savings account for her daughter's…

A: Deposit = 5500 every 6 months End of month deposits Interest rate = 4% semi annual period N = 21…

Q: Helena deposited P3,000 every beginning of 6 months for 10 years at Metro Bank at 9% compounded semi…

A: FV is the future worth of cash flows that have occurred in the past or present.

Q: At the end of each quarter, Patti deposits $1,600 into an account that pays 12% interest compounded…

A: Deposit amount = $1600 Interest = 12% Compounding = Quarterly Quarterly interest rate = 12%/4 = 3%…

Q: Kristina invests a total of $23,000 in two accounts. The first account earned an annual interest…

A: Given that: Total investment = $23000 Interest on first account = 12% Interest on second account =…

Q: Sonia invested P 2,100 and left it for 9 years where the time in which the principal was withdrawn.…

A: Compounding is a technique which is used to compute the future value (FV) of the present amount by…

Q: Elizabeth Brown has $23,000 that she can deposit into a savings account for five years. Bank A…

A: Here, we need to calculate the future value of the amount deposited today at a given interest rate…

Q: Sandy Kupchack just graduated from State University with a bachelor’s degree in history. During her…

A:

Q: Katy invests a total of $36,000 in two accounts. The first account earned an annual interest rate of…

A: given, total amount invested = $36000 account 1: r=5% account 2: r= 2%

Q: On October 1, Lorelai made a single deposit of $12,000 into an investment account which earns…

A: In this question future value of the initial deposit is to be find out. Future value is the value of…

Q: On the first day of the year, a man deposits ₱1,000 in a bank at 8% per year  compounded annually.…

A: future value = present value *(1+ rate) value at the end of 1st year = 1000 * 1.08 = 1080 amount…

Q: Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly…

A: Future value is the value of the current assets or some amount that is invested today and amount…

Q: Kim deposits 4,700 pesos into an account earning 1.25% intererst per annually. How much money will…

A: We need to use simple interest  formula given below Simple interest =Principal*Rate*Time

Q: Jacqueline invested the profit of her business in an investment fund that was earning 2.50%…

A: Time value of money (TVM) refers to the method or concept which is used to determine the amount of…

Q: Melanie invests a total of $27,500 in two accounts paying 2% and 14% annual interest, respectively.…

A: Total investment = $27,500 First account interest rate = 0.02 Second account interest rate = 0.14…

Q: how much is Helen's deposit

A: Future value of a deposit is the net worth that a deposit will earn at a specified future date with…