Suppose a certain manufacturer deposits $3000 at the beginning of each three month period or six years in an account paying 8% interest, compounded quarterly. How much will be in the account at the end of the 6 year period ?
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Suppose a certain manufacturer deposits $3000 at the beginning of each three month period or six years in an account paying 8% interest, compounded quarterly. How much will be in the account at the end of the 6 year period ?
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- Suppose that you deposit $15 at the end of each month into a savings account that pays 2% interest compounded monthly. After a year, ------ is in the account.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?If you deposit 2500 into an account paying 11% annual interest compounded quarterly, how long until there is 4500 in the account?
- What is the size of the payments that must be deposited at the beginning of each 6-month period in an account that pays 6.4%, compounded semiannually, so that the account will have a future value of $100,000 at the end of 18 years? (Round your answer to the nearest cent.)You deposit $4000 in an account that pays 6% interest compounded semiannually. After 3 years, the interest rate is increased to 6.28% compounded quarterly. What will be the value of the account after a total of 6 years?Suppose 500$ is initially placed in savings account and 500$ is deposited at the end of every month for the next year. If interest is at 6% compounded monthly, how much is in the account at the end of the year?
- Suppose a certain manufacturer deposits 3000 at the beginning of each 3 month period for 8 years in an account paying 8% interest compounded quarterlySuppose $154 is deposited at the end of every year into an account earning 5.5% per annum compounded semi-annually. If the balance in the account is to be $14,700, how many deposits are needed? The number of deposits needed isSuppose an investor plans to make monthly deposits into an account that pays 9% interest, compounded monthly, so that $100,000 will be in the account immediately after the payment at the end of Year 10. The first payment will occur at the end of Month 1 (one month from the present). How much must be deposited monthly? a. $19,351,700 per month b. 517 per month c. 6,580 per month d. 9,670 per mon
- Suppose you deposit $1,000 today in an account that pays 5% interest at the end of each year. If you withdraw one-half of the year's interest at the end of each year, what is the balance in your account after your third withdrawal?What is the nominal annual rate of interest compounded quarterly if a loan of $21,500 is paid in seven years by payments of $2,000 made at the end of every six months?If you deposit $2000 in an account that pays 3.6% with quarterly compounding, what is the balance after six years? How much interest is earned?
