You deposited $15,000 in a savings account five years ago. The account has earned 5.25% interest compounded continuously since then. How much money is in the account today?
Q: Jack opened an account 15 years ago and deposited $12,000 into it. The account now has $20,000 in…
A: Compound interest formula: A=P×1+rnnt where, A = final amountP = initial principal balancer =…
Q: You have just deposited $5,000 into an account that promises to pay you an annual interest rate of…
A: Amount of deposit=$5000Interest rate=5.3%Number of years=10
Q: You deposited $8,000 six years ago into a bank account. Two years ago, you deposited an additional…
A: Here, Initial deposit = $8,000 Total future value = $89,187.52 Interest rate = 14% Time period for…
Q: If you made $600 after investing $12,000 in a bank CD for 4 years, what percent simple interest did…
A: Simple interest = Principal*interest rate*time period Interest rate = Simple…
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: You deposit $400 each month into an account earning 6% interest compounded monthly. How much will…
A: FV of annuity=P1+rn-1rwhere,P=Periodic paymentr=rate per periodn=number of periods
Q: If you deposit $10,000 dollars into a savings account, what interest would you need to be earning to…
A: Working note:
Q: Assume you make 10 equal annual deposits of $2000 into an account paying 12% per year. How much is…
A: Periodic payments can be made monthly, quarterly, half-yearly or annually. In the given question,…
Q: Casciani Company invests $61,000 today in a savings account that earns 10% compounded annually. What…
A: In this question we require to compute the future value if company invest $61000 today for 10 years…
Q: Fifteen years ago, you deposited $12,500 into an investment fund. Five years ago, you added an…
A: An effective annual rate is the modified interest rate from the nominal rate that represents the…
Q: You deposited $1000 in the bank today. What will be in your account in 25 years assuming an…
A: Given Information: Present Value (PV) = $1000 number of period (n) = 25years. Interest Rate = 6%
Q: Suppose that you place $1,000 in a bank account each year for the next 20 years. How much would be…
A: Annuity means finite no. of payments which are same in size and made in equal intervals for the…
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: Fifteen years ago, you deposited $12,500 into an investment fund. Five years ago, you added an…
A: Present value refers to the current valuation for a future sum. Investors determine the present…
Q: Fifteen years ago, you deposited $12,500 into an investment fund. Five years ago, you added an…
A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…
Q: Calculate the total amount of interest on interest earned five years from now if $100,000 is…
A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…
Q: $7000 are invested in a bank account at an interest rate of 5 percent per year. Find the amount in…
A: To find the amount after certain period we have to use the compound interest formula : A = P 1+r100n…
Q: You deposit $25,000.00 in a deposit taking institution some time ago, earning 6% monthly compounded…
A: This question require us to calculate the time period (years) required to make the investment worth…
Q: How much money do you have to put into a bank account that pays 10% interest compounded annually to…
A: Present value is the today's value of the investment.
Q: Assume you make 10 equal annual deposits of $2000 into an account paying 8% per year. How much is in…
A: The amount available 6 years after the last deposit will be the future value of this annuity.
Q: how many years your money will be doubled?
A: answer :- c) n= 6.12 years given present value PV= 10000 rate r=12% future value FV = 2*10000 =…
Q: You deposit $500 each month into an account earning 5% interest compounded monthly. a) How much…
A: The future value is the value of amount in future that has to paid or received at current or in…
Q: If 6000 dollars is invested in a bank account at an interest rate of 8 per cent per Find the amount…
A: Future value is the value of present cashflow compounded to future date at specified rate. formula:…
Q: You want to accumulate $500,000 in a savings account in20 years. If the bank pays 6% compounded…
A: Future value: It can be defined as the value of an investment or any asset at a specified future…
Q: You deposit $4000 in an account earning 5% interest compounded monthly. How much will you have in…
A: Given: Interest rate = 5% Present value = $4,000 Period = 10 years
Q: How much money to be invested in a bank that earns 9% interest, compounded quarterly, in order to…
A: Interest rate = 9% Quarterly interest rate (r) = 9%/4 = 2.25% Future value (FV) = 5000 Period = 5…
Q: If we are investing in an account with an interest rate of 5.7% compounded monthly and we wish to…
A: The amount to be placed in the account today is computed using the present value formula.
Q: You deposit $100 each month into an account earning 4% interest compounded monthly. a) How much…
A: Amount Deposited Each month is $100 Interest rate is 4% Compounded monthly Time period is 15 years…
Q: You open a bank account, making a deposit of $300 now and deposit of $1000 every other year (the…
A: Amount deposit now for 10 years = 300 Amount deposited every year from & at the end of 2nd year…
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: Fifteen years ago, you deposited $12,500 into an investment fund. Five years ago, you added an…
A: Time value of money techniques helps us to find the values of the deposits at different time…
Q: Your grandmother deposited $100 in a savings account for you 25 years ago. The money has been…
A: Formula: Future value=Present value×1+r44n
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: Fifteen years ago, you deposited $12,500 into an investment fund. Five years ago, you added an…
A: The effective annual rate is the actual rate earned after considering the compounding periods in a…
Q: Suppose you have decided to put $500 at the beginning of every month in a savings account that…
A: Monthly deposit (m) = $500 Monthly interest rate (r) = 0.00416666666666667 (i.e. 0.05 / 12) Number…
Q: in how many years will it take 18000 dollars to accumulate 20000 dollars when you deposited in a…
A: In effective rate of interest, the compounding over the period are taken into account.
Q: If you deposit $13,.224 annually at the end of every year in a bank account paying 8% annually. how…
A: Annual deposit (D) = $13,224 Period (n) = 5 Years Interest rate (i) = 8% (or 0.08) Amount saved at…
Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much will…
A: Monthly deposit (P) = $ 100 Interest rate = 8% Monthly interest rate (r) = 8%/12 =…
Q: How much would be in your savings account in 12 years if you deposited $1,500 today? Assume the bank…
A: Given details are : Present value = $1500 Time period = 12 years Interest rate = 5% We need to…
Q: You deposit money into a savings account which offers a rate of 5.75% compounded weekly. five years…
A: we have to calculate weekly interest rate and than calculate present value.
Q: Suppose that $8000.00 was invested in a savings account that paid 2.5% interest compounded…
A: Number of compounding periods = Number of years * 4 quarters per year = 3 * 4 = 12 quarters Rate…
Q: Ten years ago, you deposited $1000 into an account. The account earned 12% compounded annually for…
A: Solution:- When an amount is deposited in a bank account, it earns interest. The amount deposited…
Q: I invest £100 today at the market interest rate. Each year I withdraw and spend the interest, and in…
A: Interest rate is 5% Amount invested is 100 In banks, Compound interest formula iss used. To Find:…
Q: A young man saved his money every quarter for 5 years into his bank a 2 years and P4,000 per quarter…
A: In this we have to calculate the quarterly interest and from that we can get the required value.
Q: You deposit $100 each month into an account earning 8% interest compounded monthly. a) How much…
A: Annuity amount = $100 Monthly rate of interest = 0.6667% (8.00% / 12) Number of months = 300 months…
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: I want to accumulate %500,000 in a savings account in 20 years. If the bank pays 6% compounded…
A: For above question, we have to calculate principle amount or present value of amount to be invested…
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- Calculating interest earned and future value of savings account. If you put 6,000 in a savings account that pays interest at the rate of 3 percent, compounded annually, how much will you have in five years? (Hint: Use the future value formula.) How much interest will you earn during the five years? If you put 6,000 each year into a savings account that pays interest at the rate of 4 percent a year, how much would you have after five years?Ten years ago, you deposited $1000 into an account. The account earned 12% compounded annually for the first 5 years, and then earned 9% compounded annually for the next 5 years. What is your current account balance?10 years ago, $1,500 was deposited in a bank account, and today it is worth $3,270. If the bank pays interest semi-annually, what was the interest rate paid on this account?
- You opened a savings account 3 years ago with $8,000. Now the account has $30,000 in it. You have made annual deposits of $5,000 each year. What annual interest rate have you earned on the past 3 years? PLEASE BREAK DOWNFifteen years ago, you deposited $15,400 into an account. Eight years ago, you added an additional $6,000 to this account. You earned 10 percent, compounded annually, for the first 7 years and 6.5 percent, compounded annually, for the last 8 years. How much money do you have in your account today?i want to know the value in 8 years of $100,000 deposited in an account. the amount is earning 12% compounded monthly?
- You invested $5,000 in an account 16 years ago. This account paid 8% compounded monthly for the first 5 years, and then the rate jumped to 10% quarterly for the next 6 years, and finally, in the last 5 years, the rate was 5% semi-annually. How much do you have today?Whitney deposited $200,000 into a savings account that has an annual interest rate of 8% compunded daily. How much will be in the account after 4 years?A person deposited an amount of 1000 dinars in a savings account, what is the accumulated amount in that account after 6 years if the interest rate is 16%, paid once every six months, and four times annually???
- 1. If you deposit $28,688 annually at the end of every year in a bank account paying 5% annually, how much would you have saved at the end of ten years? Round your answer to the nearest one dollar.You deposited $8,000 six years ago into a bank account. Two years ago, you deposited an additional amount. Assume an annual interest rate of 14%. In ten years from now, you need to have exactly $89,187.52 in the account? Assume annual compounding. What was the amount of that unknown deposit?A man deposits 43,799 each year into his savings account that pays 2% nominal interest compounded continuously. How much will be the worth of the account at the end of 5 years? Solve and explain!