Homework Answers
Amount invested = $100
Interest rate = 10%
Period = 7 years
Future value = Amount invested * (1 + Interest
rate)^Period
Future value = $100 * 1.10^7
Future value = $100 * 1.9487
Future value = $194.87
So, you will have $194.87 in your accounts after 7 years.
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QUESTION 48 You deposit $100 in a savings account that pays 10% interest compounded annually. How...
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You
are going to deposit $4,000 in an account that pays .46 percent
interest compounded monthly . How much will you have in 8 years
?
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Just 57
QUESTION 56 You deposit$ 100 in a savings account that pays 12%interest compounded annually. How much would you have in your account at the end of 5 years? O$160 $166.16 O $168.41 $172.35 O $176.23 QUESTION 57 In the above question, if the bank pays 12% interest compounded qua erly. How much would you have in your account at the end of 5 years? $165.12 $173.16 $180.61 $181.35 $182.45
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You deposit $2,500 at the end of the year ( 0) into an account that pays interest at a rate of 7% compounded annually. Two years after your deposit, the savings account interest rate changes to 12% nominal interest compounded monthly. Five years after your deposit, the savings account again changes its interest rate this time the interest rate becomes 8% nominal interest compounded quarterly Nine years after your deposit, the saving account changes its rate once more to 6%...
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are going to deposit $4,000 in an account that pays .46 percent
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