Jack has saved $225 at the end of every month in his bankaccount for 6...

Jack has saved $225 at the end of every month in his bank account for 6 years with the rate of interest being 3.6% p.a. compounding monthly, then he decided to go to school for 5 years when he could not contribute to his account. After his studies ended (at the end of the 5th year at school), he moved his balance to another account and started to withdraw equal amounts of money from his account at the end of every quarter for 10 years. Find the size of his quarterly withdrawals if interest has been 4% p.a. compounding quarterly. Calculate the nominal rate of interest if a $20,000 investment has experienced 40% increase in value after 6 years when interest compounds monthly

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Jack has saved $225 at the end of every month in his bankaccount for 6...

Jack has saved $225 at the end of every month in his bank account for 6 years with the rate of interest being 3.6% p.a. compounding monthly, then he decided to go to school for 5 years when he could not contribute to his account. After his studies ended (at the end of the 5th year at school), he moved his balance to another account and started to withdraw equal amounts of money from his account at the end of...

`1- Liz saved $270 at the end of every month for 6 years in her bank...

`1- Liz saved $270 at the end of every month for 6 years in her bank account that earned 3.70% compounded monthly. a. What is the accumulated value of her savings at the end of the period? a$21,393.49 b$21,729.45 c$196,528.63 d$2,289.45 b. What is the interest earned over the period? a$2,019.45 b$21,729.45 c$2,559.45 d$2,289.45 2- What nominal interest rate compounded semi-annually is equivalent to 3.63% compounded quarterly? % 3-If Lionel wants to earn interest of $3,547.75 on his $11,000.00 savings...

Lionel deposited $1,500 at the end of every month into an RRSP for 6 years. The...

Lionel deposited $1,500 at the end of every month into an RRSP for 6 years. The interest rate earned was 3.75% compounded semi-annually for the first 3 years and changed to 4.00% compounded monthly for the next 3 years. What was the accumulated value of the RRSP at the end of 6 years? Round to the nearest cent

Ling has saved $73,700.00. If she decides to withdraw $2,819.00 at the beginning of every month...

Ling has saved $73,700.00. If she decides to withdraw $2,819.00 at the beginning of every month and interest is 11.25% compounded quarterly, for how long can she makewithdrawals? Express your answer in years and months (from 0 to 11 months). Her last withdrawal will occur____ year(s) and____ month(s) from now. (Type whole numbers.)

Suppose you saved $483 at the end of each month for 37 years and your savings...

Suppose you saved $483 at the end of each month for 37 years and your savings earned an interest rate of 3.5%. If instead you had saved for only 11 years, how much would you have had to save each month in order to reach the same final balance? Round to the nearest cent.

If Haley invests $1,000 at the end of every month (EOM) for seven years in an...

If Haley invests $1,000 at the end of every month (EOM) for seven years in an investment paying an annual rate of 10% compounded monthly, how much will she have at the end of seven years? If Haley invests $1,000 at the beginning of every month (BOM) for seven years in an investment paying an annual rate of 10% compounded monthly, how much will she have at the end of seven years?

George invested $1,250 at the end of every month into an investment fund that was earning...

George invested $1,250 at the end of every month into an investment fund that was earning interest at 4.25% compounded monthly. He stopped making regular deposits at the end of 9 years when the interest rate changed to 4.50% compounded quarterly. However, he let the money grow in this investment fund for the next 4 years. a. Calculate the accumulated balance in his investment fund at the end of 9 years b. Calculate the accumulated balance in his investment fund...

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Jack has saved $225 at the end of every month in his bankaccount for 6...

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