How much money will be in a savings accounts after 5 years if $150 is initially deposited in the account
How much money will be in a savings accounts after 5 years if $150 is initially deposited in the account, $150 is deposited each month in the account and interest is compounded continuously at 9% per year?
Josh deposited $800 in a savings account at 4.0% interest,
compounded monthly.
A) how much money will josh have in his account after 4
years?
B) After how many years will josh have $2000 in his account(if
he does not withdraw any money)?
Suppose you save $1,000 per month for 35 years. The bank
promises you an annual interest rate of 3% compounded monthly. How
much will the savings account be worth in 35 years? (Assume no
withdrawals take place).
Determine how much $1,000 deposited in a savings account paying
8% (compounded annually) will be worth after 5 years.
how would you insert this in a financial calculator? confused on
how to input (FVIF .08,5)
9. How much interest is earned in 6 years on $8800 deposited in
an account paying 7% interest, compounded semiannually? (Round your
answer to two decimal places.)
10.$15,000 is deposited for 8 years in an account earning 6%
interest. (Round your answers to two decimal places.)
(a) Calculate the future value of the investment if interest is
compounded semiannually.
$
(b) Calculate the future value if interest is compounded
quarterly.
$
(c) How much greater is the future value of...
You put $1,000 into a savings account that pays 4% in annual
interest. How much money will you have after 2 years if the account
pays only simple interest?
How much money would Pay have in a fixed deposit bank account if
she deposited $10,000
for five years, if the account pays an APR of 6% compounded.
a. Continuously
b. 4 times a year
c. 365 times a year
$6746 is deposited into a savings account at 5% interest,
coumpounded quarterly. to the nearest year, how long will it take
for the account balance to reach $1,000,000?
6.Suppose that you had savings deposited in an account at an
interest rate of 5 percent and your father told you that he earned
10 percent interest 20 years ago.
Which of you was getting the better return?
How would your answer change if you were told that the inflation
rate in the United States was 12 percent 20 years ago and is 3
percent now?
7.Suppose you have $1,000, which you can put in two different
types of accounts...
1. Find the balance after 5 years in a savings account that pays
2.5% APR compounded monthly if deposits are made to the account
each month in the amount of $100.
2. A friend has an IRA with an APR of 6.25%. She stared the IRA
at age 25 and deposits $50 per month.
a) How much
will her IRA contain when she retires at age 65?
b) How much
money did she contribute to the account?
...