For the last four years Joe has made deposits of $200 at the end of every six months earning interest at 6% compounded semi-annually. If he leaves the accumulated balance in an account earning 7% compounded quarterly, what will the balance be in Joe's account at the end of another ten years?
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For the last four years Joe has made deposits of $200 at the end of every six months earning interest at 6% compounded semi-annually. If he leaves the accumulated balance in an account earning 7% compounded quarterly, what will the balance be in Joe's account at the end of another ten years?
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- For the last six years Joe has made deposits of $400 at the end of every six months earning interest at 6% compounded semi-annually. If he leaves the accumulated balance in an account earning 7% compounded quarterly, what will the balance be in Joe's account at the end of another nine years?Kolby has made deposits of $140.00 into his savings account at the end of every three months for 20 years. If interest is 9% per annum compounded semi-annually and he leaves the accumulated balance for another 3 years, what would be the balance in his account then?Marcus deposits $2600 into an account that has an annual interest rate of 5% compounded monthly. If he leaves it there for 7 years without making any withdrawals, what is the account's balance at the end of 7 years?
- Ron has made deposits of $80.00 into his savings account at the end of every three months for 10 years. If interest is 12% per annum compounded semi-annually and he leaves the accumulated balance for another 4 years, what would be the balance in his account then?Daniel deposits $20,000 into an account earning interest at 6% per year compounded quarterly. He wishes to withdraw $400 at the end of each month. For how many months can he make these withdrawals?If Jackson deposits 100 dollars at the beginning of each month in a savings account earning interest at the rate of 8%/year compounded monthly, how much will he have on deposit in his savings account at the end of 6 yr, assuming that he makes no withdraws during that period?
- Louis is saving for his retirement by making annual end of year deposits for 30 years into a bank account that pays interest at a nominal rate of 8% compounded quarterly. For the first 10 years the deposits are level at $5000 each year. After the 10 th year, each deposit is 3% more than the year before. A) Give an actuarial expression for the account balance after the final deposit is made ? B) What is the account balance after the final deposit is made ?Seamus has made deposits of $97.00 into his savings account at the end of every three months for 10 years. If interest is 8 % per annum compounded monthly and he leaves the accumulated balance for another 2 years, what would be the balance in his account then?Mark Welsch deposits $7,200 in an account that earns interest at an annual rate of 8%, compounded quarterly. The $7,200 plus earned interest must remain in the account 10 years before it can be withdrawn. How much money will be in the account at the end of 10 years?
- Derek currently has $13,229.00 in an account that pays 6.00 % . He will withdraw $5, 251.00 every other year beginning next year until he has taken 8.00 withdrawals. He will deposit $ 13229.0 every other year beginning two years from today until he has made 8.0 deposits. How much will be in the account 28.00 years from today?If Jackson deposits $120 at the end of each month in a savings account earning interest at a rate of 3%/year compounded monthly, how much will he have on deposit in his savings account at the end of 6 years, assuming he makes no withdrawals during that period? (Round your answer to the nearest cent.)Nancy deposits $7,000 into an account that credits interest at the end of each year. The effective annual interest rate is 5%, but starting with the fifth year the interest rate increases to 7%. What is the accumulated value of the account after 10 years?