Time left 0:30:33If you deposit OMR 8854 in your account in a bank.Suppose the bank pays 8% compound interest yearly.you are required to calculate future value of yourmoney in 7 years.t of 2estionO a. 19114.90O b. 13009.18O C. All the given choices are not correctO d. 10772.22O e. 15174.20L78%

future value = present value*(1+rate)^n future value = 8854*1.08^7

Answered: If you deposit OMR 8854 in your account…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...

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You 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.
EFFECTIVE VERSUS NOMINAL INTEREST RATES Bank A pays 4% interest compounded annually on deposits, while Bank B pays 35% compounded daily. a. Based on the EAR (or EFF%), which hank should you use? b. Could your choice of banks be influenced by the fact that you might want to withdraw your funds during the year as opposed to at the end of the year? Assume that your funds must be left on deposit during an entire compounding period in order to receive any interest.
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. 2,0000.9264
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If you deposit OMR 27177 in your account in a bank. Suppose the bank pays 12% compound interest quarterly. Calculate value of your money in 4 years Select one: a. 166607.80 b. 43611.11 c. 16935.81 d. 42749.42 e. All the given choices in this question are not correct
If you deposit OMR 8854 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years. اخترأحد الخيارات a. 13106.04 b. 13009.18 c. 19114.90 d. All the given choices are not correct e. 10772.22
You deposit $ 7,812 in your account today. You make another deposit at t = 1 of $ 6,946 . How much will there be in your account at the end of year 1 if the interest rate is 11.9 percent p.a.? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85). Your Answer:
If you deposit OMR 8854 in your account in a bank. Suppose the bank pays 8% compound interest half yearly. Calculate future value of your money in 5 years. اخترأحد الخيارات a. 13106.04 b. 13009.18 c. 19114.90 d. All the given choices are not correct
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If you deposit OMR 8854 in your account in a bank. Suppose the bank pays 8% compound interest yearly. you are required to calculate future value of your money in 7 years.