On August 8, 1981, American Savings offered an insured tax-free account paying 23.24% compounded monthly. If you had invested $50,000 at that time, how much would you have on August 8, 2014, assuming that you could have locked the interest rate at the time of deposit? Use the formula nt A = P(1 +)" for n = 12. (Round your answer to the nearest cent.) 100795974.6
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- in 2012 the maximum socail securuty deposit by an idvudual was $8386.75. suppose you are 27 and make a deposit of this amount into an account at the end of each year. how much would you have when you retire if the account oats 2% compounded annually and you retire at 65.CNB, Inc. will deposit $25,000 into a money market account at the end of each year for the next eight years. How much will accumulate by the end of the eighth and final payment if the account earns 8% interest? Select one: a. $265,915 b. $256,951 c. $223.070 d. $200,000 e. $275,713Today, you borrowed $5,400 on a credit card that charges an interest rate of 13.2 percent, compounded monthly. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments of $110? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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