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(Compound interest with non-annual periods) Calculate the amount of money that will be in each of...
(Compound interest with non-annual periods) 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 $ 1,000 12 % 1- 6 Vernell Coles 94,000 8- 2 -2 Tina Elliot 9,000 10- 4 -4 Wayne Robinson 120,000 10- 12- 3 Eunice Chung 28,000 18- 3-4 Kelly Cravens 14,000 12- 6= 3 a.The amount of money in Theodore Logan III's account at the end of 6 years will be . (Round to the nearest cent.)
Solutions
jeff jeffy answered 1 year agoRelated Solutions
(Compound interest with non-annual periods) Calculate the amount of money that will be in each of...
(Compound interest
with non-annual
periods) 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)
Ted Logan
$1,100
12%
4
6
Vern Coles
95,000
12
6
3
Teena Elliott
9,000
12
1
5
Wade Robinson
120,000
8
2
4
Eunice Chang
28,000
18
3
5
Kelli Craven
16,000
10
12
5
PLEASE round...
(Compound interest with non-annual periods) Calculate the amount of money that will be in each of...
(Compound interest with non-annual periods) 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
1,000
16%
1
5
Vernell Colles
94,000
10%
2
3
Tina Elliot
7,000
8%
3
6
Wayne Robertson
120,000
8%
4
3
Eunice Chung
29,000
18%
6
4
Kelly Cravens
17,000
10%
12
5
(Compound interest with non-annual periods) Calculate the amount of money that will be in each of...
(Compound interest with non-annual periods) 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 $ 1 comma 000 18
% 4 10 Vernell Coles 96 comma 000 8 2 3 Tina Elliot 9 comma 000 10
3 4 Wayne Robinson 119 comma 000 10 12 5 Eunice Chung 30...
(Compound interest with non-annual periods ) You just received a bonus of 2,000. a. Calculate the...
(Compound interest with non-annual periods )
You just received a bonus of 2,000.
a. Calculate the future value of 2,000 given that it will be
held in the bank for 5 years and earn an annual interest rate of 4
percent
.b. Recalculate part (a ) using a compounding period that is (1)
semiannual and (2) bimonthly.
c. Recalculate parts (a ) and (b )using an annual interest rate
of 8 percent.
d. Recalculate part (a ) using a time...
(Compound interest with non-annual periods) You just received a bonus of $3,000. a. Calculate the future...
(Compound interest with non-annual periods) You just received a
bonus of $3,000. a. Calculate the future value of $3,000, given
that it will be held in the bank for 5 years and earn an annual
interest rate of 7 percent. b. Recalculate part a using a
compounding period that is (1) semiannual and (2) bimonthly.
c. Recalculate parts a and b using an annual interest rate of 14
percent. d. Recalculate part a using a time horizon of 10 years...
(Compound interest with non-annual periods) You just received a bonus of $2000. a. Calculate the future...
(Compound interest with non-annual periods) You just received
a bonus of $2000. a. Calculate the future value of $2000, given
that it will be held in the bank for 10 years and earn an annual
interest rate of 4 percent. b. Recalculate part (a) using a
compounding period that is (1) semiannual and (2) bimonthly.
c. Recalculate parts (a) and (b) using an annual interest rate
of 8 percent. d. Recalculate part (a) using a time horizon of 20
years...
(Compound interest with? non-annual periods?) You just received a bonus of ?$4,000.
(Compound interest with? non-annual periods?) You just received a bonus of ?$4,000.
a. Calculate the future value of $1,000, given that it will be held in the bank for 8 years and earn an annual interest rate of 7 percent.
b.Recalculate part (a) using a compounding period that is (1) semiannual and? (2) bimonthly.
c.Recalculate parts (a) and (b) using an annual interest rate of 14 percent.
d.Recalculate part (a) using a time horizon of 16 years at an annual...
(Compound interest with non-annual periods) You just received a bonus of $1,000. a.Calculate the future value...
(Compound interest with non-annual periods) You just
received a bonus of $1,000. a.Calculate the future value of $1
,000, given that it will be held in the bank for 7 years and earn
an annual interest rate of 5 percent. b.Recalculate part (a)
using a compounding period that is (1) semiannual and (2)
bimonthly. c.Recalculate parts (a) and (b) using an annual
interest rate of 10 percent. d.Recalculate part (a) using a time
horizon of 14 years at an annual...
(Related to Checkpoint 5.2) (Compound interest with non-annual periods) You just received a bonus of $1,000....
(Related to Checkpoint 5.2)
(Compound interest with non-annual periods)
You just received a bonus of $1,000.
a.Calculate the future value of $1,000, given that it will be
held in the bank for 6 years and earn an annual interest rate of
3
percent.
b.Recalculate part
(a) using a compounding period that is (1) semiannual and
(2) bimonthly.
c.Recalculate parts (a) and (b) using an annual interest
rate of 6 percent.
d.Recalculate part (a) using a time horizon of 12 years...
compound interest with non-annual periods after examining the various personal loan rates available to you do...
compound interest with non-annual periods after examining the
various personal loan rates available to you do you find that you
can borrow funds from the finance company at a APR of 7% compounded
annually or from a bank at an APR 8% compounded monthly which
alternative is more attractive
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