Miguel deposits 4400 dollars in an account, and 6 years later the account balance is 8400...
Miguel deposits 4400 dollars in an account, and 6 years later the account balance is 8400 dollars. If interest is compounded monthly, what is the rate of interest per month? Round your answer to two decimal places where necessary.
Homework Answers
Hence, Interest rate
per month is 0.90%Add Answer to:
Miguel deposits 4400 dollars in an account, and 6 years later
the account balance is 8400...
Cicely invests 3600 dollars in an account paying an effective rate of interest of 6.4 percent. Two years later, she deposits an additional 1950 dollars. If there are no other transactions, how long w...
Cicely invests 3600 dollars in an account paying an effective
rate of interest of 6.4 percent. Two years later, she deposits an
additional 1950 dollars. If there are no other transactions, how
long will it take (from the time of the first investment) for her
account balance to reach 8400 dollars? (Assume simple interest
between compoundings.)
Answer = years and days.
(Note: your answer for the number of years should be a whole
number, while your answer for the number...
For the last 8 years Paul has made deposits of $84.00 at the end of every...
For the last 8 years Paul has made deposits of $84.00 at the end of every month earning interest at 9% compounded monthly. If he leaves the accumulated balance for another 5 years at 5% compounded quarterly, what will the balance be in the account? The balance will be $__? (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
1. Frank makes deposits into his savings account of $225 at the beginning of every three...
1. Frank makes deposits into his savings account of $225 at the beginning of every three months. Interest earned by the deposits is 3% compounded quarterly. (a) What will the balance in Frank's account be after eight years? (b) How much of the balance will Frank have contributed? (c) How much of the balance is interest? (a) The balance in Frank's account will be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to...
QUESTION 17 Starting next month, if you make monthly deposits of $619 into a retirement account...
QUESTION 17 Starting next month, if you make monthly deposits of $619 into a retirement account that earns 6% interest compounded monthly, how large will your retirement account be in 33 years? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
You are planning to make monthly deposits of $330 into a retirement account that pays 8...
You are planning to make monthly deposits of $330 into a retirement account that pays 8 percent annual interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 25 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Compound Interest Calculate periodically compounded interest Question George invested $4400 in an account with annually compounded...
Compound Interest Calculate periodically compounded interest Question George invested $4400 in an account with annually compounded interest. After 5 years, he had $5790 in the account. What was the interest rate of the account? Round your answer to one decimal place. Do not write the percent sign. Provide your answer below
The balance A (in dollars) in a savings account is given by A-7000ec, where t is measured in years. Find the rate at which the balance is changing when t = 1 year, t = 10 years, and 50 years. (Ro...
The balance A (in dollars) in a savings account is given by A-7000ec, where t is measured in years. Find the rate at which the balance is changing when t = 1 year, t = 10 years, and 50 years. (Round your answers to two decimal places.) (a) t-1 year per year (b) t10 years per year (c)50 years per year
The balance A (in dollars) in a savings account is given by A-7000ec, where t is measured in years....
Show how to enter into EXCEL 1. You have decided to place $153 in equal deposits...
Show how to enter into EXCEL 1. You have decided to place $153 in equal deposits every month at the beginning of the month into a savings account earning 4.69 percent per year, compounded monthly for the next 15 years. The first deposit is made today. How much money will be in the account at the end of that time period? Round the answer to two decimal places 2. What is the present value of the following annuity? $4,765 every...
4. Jeff deposits X into a fund today and 100 fifteen years later. Interest is credited...
4. Jeff deposits X into a fund today and 100 fifteen years later. Interest is credited at a nominal annual discount rate of 4.5% compounded quarterly for the first 10 years, and at a nominal annual interest rate of 6% compounded semiannually thereafter. The accumulated balance in the fund at the end of 30 years is 400. Calculate X. Give your answer rounded to the nearest whole number. Answer:
4. Jeff deposits X into a fund today and 100 fifteen years later. Interest is credited...
4. Jeff deposits X into a fund today and 100 fifteen years later. Interest is credited at a nominal annual discount rate of 4.5% compounded quarterly for the first 10 years, and at a nominal annual interest rate of 6% compounded semiannually thereafter. The accumulated balance in the fund at the end of 30 years is 400. Calculate X. Give your answer rounded to the nearest whole number. Answer:
Cicely invests 3600 dollars in an account paying an effective
rate of interest of 6.4 percent. Two years later, she deposits an
additional 1950 dollars. If there are no other transactions, how
long will it take (from the time of the first investment) for her
account balance to reach 8400 dollars? (Assume simple interest
between compoundings.)
Answer = years and days.
(Note: your answer for the number of years should be a whole
number, while your answer for the number...
1. Frank makes deposits into his savings account of $225 at the beginning of every three months. Interest earned by the deposits is 3% compounded quarterly. (a) What will the balance in Frank's account be after eight years? (b) How much of the balance will Frank have contributed? (c) How much of the balance is interest? (a) The balance in Frank's account will be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to...
QUESTION 17 Starting next month, if you make monthly deposits of $619 into a retirement account that earns 6% interest compounded monthly, how large will your retirement account be in 33 years? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Compound Interest Calculate periodically compounded interest Question George invested $4400 in an account with annually compounded interest. After 5 years, he had $5790 in the account. What was the interest rate of the account? Round your answer to one decimal place. Do not write the percent sign. Provide your answer below
The balance A (in dollars) in a savings account is given by A-7000ec, where t is measured in years. Find the rate at which the balance is changing when t = 1 year, t = 10 years, and 50 years. (Round your answers to two decimal places.) (a) t-1 year per year (b) t10 years per year (c)50 years per year
The balance A (in dollars) in a savings account is given by A-7000ec, where t is measured in years....
4. Jeff deposits X into a fund today and 100 fifteen years later. Interest is credited at a nominal annual discount rate of 4.5% compounded quarterly for the first 10 years, and at a nominal annual interest rate of 6% compounded semiannually thereafter. The accumulated balance in the fund at the end of 30 years is 400. Calculate X. Give your answer rounded to the nearest whole number. Answer:
4. Jeff deposits X into a fund today and 100 fifteen years later. Interest is credited at a nominal annual discount rate of 4.5% compounded quarterly for the first 10 years, and at a nominal annual interest rate of 6% compounded semiannually thereafter. The accumulated balance in the fund at the end of 30 years is 400. Calculate X. Give your answer rounded to the nearest whole number. Answer:
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago