XYZ just deposited $3,700 in an account that will earn 7.1 percent per year in compound...

XYZ just deposited $3,700 in an account that will earn 7.1 percent per year in compound interest for 9 years. If Svetlana deposits $4,000 in an account in 3 years that earns simple interest, then how much simple interest per year must Svetlana earn to have the same amount of money in 9 years from today as XYZ will have in 9 years from today?

Expert Solution

jeff jeffy answered 2 years ago

XYZ just deposited $3,500 in an account that will earn 7.2 percent per year in compound interest for 8 years.

XYZ just deposited $3,500 in an account that will earn 7.2 percent per year in compound interest for 8 years. If Jelena deposits $4,000 in an account in 3 years that earns simple interest, then how much simple interest per year must Jelena earn to have the same amount of money in 8 years from today as XYZ will have in 8 years from today?a. 6.58% (plus or minus .02 percentage points)b. 10.52% (plus or minus .02 percentage points)c. 8.82%...

1. One year ago, XYZ deposited $5,400 in an account that has earned and will earn...

1. One year ago, XYZ deposited $5,400 in an account that has earned and will earn 12.3% per year in compound interest. If PQR deposits $8,700 in an account in 3 years from today that earns simple interest, then how much simple interest per year must PQR earn to have the same amount of money in 7 years from today as XYZ will have in 7 years from today? Answer as an annual rate. A. A rate less than 6.00%...

$5,000 is deposited today into a bank account. The account earns 7.1% per annum compounded half...

$5,000 is deposited today into a bank account. The account earns 7.1% per annum compounded half yearly for the first 6 years, then 4.2% per annum compounded quarterly thereafter. Assuming no further deposits or withdrawals are made, (a) Calculate the account balance six months from today. (b) Calculate the account balance 6 years from today. (c) Calculate the account balance 6.5 years from today. (d) Calculate the account balance 10 years from today.

Juliana just deposited $5,000 into an account at The Compound Bank. The bank will pay 4.5...

Juliana just deposited $5,000 into an account at The Compound Bank. The bank will pay 4.5 percent interest compounded annually on this money. How much interest on interest will Juliana earn over the next 10 years? The interest on interest earned is Blank 1 Use two decimals.

On January 1, 2016, you deposited $6,400 in a savings account. The account will earn 10...

On January 1, 2016, you deposited $6,400 in a savings account. The account will earn 10 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 7 years? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answers...

On January 1, 2018, you deposited $5,200 in a savings account. The account will earn 10...

On January 1, 2018, you deposited $5,200 in a savings account. The account will earn 10 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 7 years? 2. What is the total interest for the 7 years? 3. How much interest revenue did the fund earn in 2018 and in 2019?

On January 1, 2016, you deposited $5,300 in a savings account. The account will earn 9...

On January 1, 2016, you deposited $5,300 in a savings account. The account will earn 9 percent annual compound interest, which will be added to the fund balance at the end of each year. Required: 1. What will be the balance in the savings account at the end of 7 years? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round your final answers...

If you earn 6% per year on your bank account, how long will it take an...

If you earn 6% per year on your bank account, how long will it take an account with $110 to double to $220? A famous quarterback just signed a contract for $19.5 million, providing $3.9 million a year for 5 years. A less famous receiver signed a contract for $18.5 million, providing $4 million now and $2.9 million a year for 5 years. The interest rate is 10%. a. What is the PV of the quarterback's contract? (Do not round...

If $30,000 is deposited in a savings account at the end of each year and the...

If $30,000 is deposited in a savings account at the end of each year and the account pays interest of 5% compounded annually, what will be the balance of the account at the end of 10 years?

A) If $8000 is deposited at the end of each half year in an account that...

A) If $8000 is deposited at the end of each half year in an account that earns 6.8% compounded semiannually, after how many half years will the account contain $100,000? (Round your answer UP to the nearest half year.) half years= B) A young executive deposits $200 at the end of each month for 4 years into an account that earns 7.2% compounded monthly. How much is in the account after the 4 years? (Round your answer to the nearest...

Question