Answered: You invest $1500 with CartyFund Bank…

Name: Please help me solve this and show the work. You invest $1500 with Car
Uploaded: 2024-03-20T07:06:27.000Z
Channel: Bartleby
Description: Please help me solve this and show the work. You invest $1500 with CartyFund Bank earning 8% interest compounded quarterly (4 times eachyear). How much will be in your account at the end of 6 years? Round to the nearest dollar.

Math

Calculus

You invest $1500 with CartyFund Bank earning 8% interest compounded quarterly (4 times each year). How much will be in your account at the end of 6 years? Round to the nearest dollar.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section: Chapter Questions

Problem 15PT: Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest,...

See similar textbooks

Similar questions

Drew wants to save 2,500 to go to the nextWorld Cup. To the nearest dollar, how much willhe need to invest in an account now with 6.25 APR, compounding daily, in order to reach his goalin 4 years?
Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest, compounded monthly. If she opened her account when she was 19 years old, how much will she have by the time she is 55? How much of that amount will be interest earned?
Jamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount with 8.2 APR, compounding daily, in orderto reach his goal in 5 years?
Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed to invest in an account now with 7.5 APR,compounded daily, in order to reach her goal in 3 years?
Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest, compounded monthly. If she opened her account when she was 20 years old, how much will she have by the time she’s 55? How much of that amount was interest earned?
New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will pay interest per year which is compounded monthly. How much will be in the child's account at his twenty-first birthday?