Question

Calculate the amount of money that will be in each of the following accounts at the end of the given deposit​ period:

Account Holder	Amount Deposited			Annual Interest Rate		Compounding Periods Per Year​ (M)		Compounding Periods​ (Years)
Theodore Logan III	​$	900		16%	​	2		6
Vernell Coles		96,000		8		4		2
Tina Elliot		9,000		12		12		6
Wayne Robinson		120,000		10		6		5
Eunice Chung		29,000		18		3		6
Kelly Cravens		13,000		10		1		4

Answer 1

where,

A = Amount

P = Principal

i = rate of interest

n = compounding period per year

t = time

ACC. HOLDER	P ($)	i	n	t	CALCULATIONS
Theodore	900	0.16	2	6	ANSWER = $2,266.35
Vernell	96,000	0.08	4	2	ANSWER = $112,479.30
Tina	9,000	0.12	12	6	ANSWER = $18,423.89
Wayne	120,000	0.10	6	5	ANSWER = $197,226.81
Eunice	29,000	0.18	3	6	ANSWER = $82,775.84
Kelly	13,000	0.10	1	4	ANSWER = $19,033.30