Suppose you decide to deposit $11,000 in a savings account that pays a nominal rate of 6%, but interest is compounded daily. Based on a 365-day year, how much would you have in the account after 12 months? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.) $12,264.16   $11,680.15   $11,329.75   $11,913.75

Q: Suppose $15,000 is invested in an account with an APR of 4.5%. If the interest is compounded…

A: FV=PV×1+Rmm×n where, FV = FUTURE VALUE PV= PRESENT VALUE R = RATE/ APR m= NO OF COUMPOUNDING IN A…

Q: Suppose you deposit $469 per week in a bank account for 5 years. The interest rate(APR) is 7.2%,…

A: present value of annuity = P * {1-[1/(1+r)^n]/r} Where, r = rate of interest per period i.e. 7.2%/52…

Q: Suppose you invest $103 nin a bank​ account, and five years later it has grown to $137.91. a. What…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: First City Bank pays 6% annual simple interest on its saving account balances, whereas Second City…

A: given, first bank simple interest=6%second bank compound interest =6%p=$7500n=10 years

Q: Suppose you deposited $1,000 in a credit union account that pays 7% with dailycompounding and a…

A: Excel Spreadsheet:

Q: Suppose that you deposited $5,000 in a savings account. It has been 15 years and your current…

A: Interest refers to the amount charged by the lender on the lent amount. The borrower of the loan is…

Q: A sum of money is deposited now in a savings account. The effective annual interest rate is 12% and…

A: Given, Amount (A) = P8,000 Principal (P) = ? Interest rate (i) = 12% Number of times compounded (n)…

Q: Suppose that $17,000 is invested in a savings account paying 5.1% interest per year. (a) Write the…

A: Compound interest formula: A = P(1+r/n)^nt Where A is the future amount, P is the principal, r is…

Q: Suppose you want to have $2,000,000 in 45 years. Calculate how much you need to deposit per nonth in…

A: The present value is the value of the sum received at time 0. It is the current value of the sum…

Q: A bank is offering 10% compounded quarterly. If you put $200 in an account, how much will you have…

A: Step 1 The worth of a series of periodic payments at a future date, assuming a specific rate of…

Q: Suppose you invest $100 in a bank account, and five years later it has grown to $134.39. What APR…

A: Investment (P) = $ 100 Future value (FV) = $ 134.39 Period = 5 Years

Q: compounded

A: Formula to calculate preset value: PV = FV/(1+r/n)^nt Where PV is the present value, FV is the…

Q: You just deposited $3,500 in a bank account that pays a 4.0% nominal interest rate, compounded…

A:

Q: If you deposit $500 in a bank account today that earns 3% interest and you deposit $20 per month…

A: Option 1: Deposit $ 500 now Future Value = Present Value*(1+ Interest rate)n Solved using Financial…

Q: What is the value (in $) of Jorge's account after 16 months? (Round your answer to the nearest…

A: Information Provided: payment made = $150 Term = 16 months Interest rate = 6% compounded monthly

Q: If you deposit RM35,000 in an account earning 18% with monthly compounding, how much would you have…

A: Using the future value function

Q: Suppose you will save P 3,000 at the end of every three months in a bank that pays 3% compounded…

A: Future value is the value of an asset or a current asset at a future date based on an assumed rate…

Q: You can earn .51 percent per month at your bank. If you deposit $3,400, how long must you wait until…

A: The number of months can be calculated with the help of future value function

Q: To establish a "rainy day" cash reserve account, a certain company deposits $14,000 of its profit at…

A: In the given question we need to calculate the future value of the account after 4 years and after…

Q: Suppose you currently have $4,800 in your savings​ account, and your bank pays interest at a rate of…

A: Present value is the sum of money that must be invested to achieve a specific future goal. Future…

Q: Supposed you deposited rm5000 in a bank account that pays 5.25%with daily compounding based on a 360…

A: Principal (PV)=5000, Interest rate (rate)=5.25%, compounding daily. time period = 8 months, Total…

Q: Suppose you want deposit $200 each month into an account earning 3.5% APR compounded monthly. a)…

A: Annuity is a fixed periodic payment made over a period of time, leading to the accrual of a definite…

Q: how much money must you put in a savings account today?

A: PV is the money value in today’s terms which is to be received at some future date whereas FV is the…

Q: Suppose you deposit $22.000 in an account today that pays 6% interest, compounded annually. How long…

A: Information Provided: Initial deposit = $22,000 Future value = $76,000 Interest rate = 6% compounded…

Q: You can earn .47 percent per month at your bank. If you deposit $3,000, how long must you wait until…

A: Computation of No. of months taken for deposit of $3,000 grown into $6,000 on an interest of 0.47%…

Q: Suppose that $850,000 is invested in a savings account paying 5.25% interest per year. (Round…

A: the given information  amount = $850,000 interest rate = 5.25%

Q: Each month you put $69.60 into the bank, with an APR of 3%, how much with you have after 10 years.…

A: We will make use fo the financial calculator to calculate the FV. Inputs are: n = number of periods…

Q: Suppose an investor plans to make monthly deposits into an account that pays 9% interest, compounded…

A: Here we will use the formula to calculate the amount to be paid monthly. We will take the period as…

Q: Suppose an investor plans to make monthly deposits into an account that pays 9% interest, compounded…

A: We will first calculate the amount needed to pay on a monthly basis so we will take the period as…

Q: Suppose you put $250 at the beginning of every month in a savings account that credits interest at…

A: Monthly deposit is $250. Annual rate of interest is 6%. Time period is 25 years. Compounding…

Q: Ten Thousand dollars is deposited into a savings account at 1.8% interest compounded monthly. How…

A: Using TVM Solver: (i) 10,000 +/- PV 1.8 i/y 10,665.74  FV CPT N = 3.61 It takes 3.61 months for…

Q: If you put $259 into a bank account that pays 3.5% interest, compounded 9 times per year, how much…

A: Workings:

Q: Suppose you deposit $10 every week into an account that earns 4% interest compounded weekly.  How…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: you deposit $5,000 in a bank t years ago. Your current account balance is $8,200, and the bank…

A: Given: Particulars Amount Present value(PV) $5,000 Future value(FV) $8,200 Interest rate…

Q: Suppose you invest $5 per week into an account that earns 2.5% compounded weekly. You make the…

A: Time value concept states that a dollar today is worth more than anytime in the uture, as the dollar…

Q: If you deposit $7,000 in a bank account that pays 9% interest annually, how much will be in your…

A:

Q: 1) You put $150,000 into a savings account paying 3% compounded monthly. How many full monthly…

A: Number of total monthly withdrawals is required to know. If the number of total monthly withdrawals…

Q: You deposit $600 each month into an account earning 4% interest compounded monthly.  a) How much…

A: The future value of the account can be calculated with the help of future value of annuity function.…

Q: Suppose you deposit D dollars at the beginning of each month into an account that pays a monthly…

A: Given: B = $2,600 D = $160 r = 0.005 B = D(1+r)[ (1+r)t -1]/r.

Q: You deposit $200 each month into an account earning 8% interest compounded monthly. Round to the…

A: Answer b) Total amount put by us in account:   = Amount monthly invested * 12 * number of years =…

Q: Suppose you decide to deposit $18,000 in a savings account that pays a nominal rate of 6%, but…

A: In order to take investment decisions, the investor will look forward for evaluation. The evaluation…

Q: To establish a "rainy day" cash reserve account, a certain company deposits $12,000 of its profit at…

A: Amount of deposits =12000 interest rate =1.95 compounding quarterly  After 4years  After 5.5 years

Q: Suppose you deposit $3600 to open an account that earns 6% interest compounded monthly. You are…

A: Present value is the sum of money that must be invested in order to achieve a specific future goal.…

Q: How much would be in your savings account in 7 years after depositing $350 today if the bank pays 10…

A: To calculate the future value we will use the below formula   Future value = P*(1+r)t Where P -…

Q: how much would you have saved at the end of six years?  Round your answer to the nearest one dollar.

A: Future Value of Annuity = P x [{(1 + r)^n} - 1] / r Here, P = Periodic Deposit i.e. $46904 annually…

Q: You have $2,000 invested in a bank account that pays a 4 percent nominal annual interest with daily…

A: Invested amount (P) = $ 2000 Annual interest rate = 4% Daily interest rate (r) = 4%/365 =…