4.) Aneisha deposited $7,000 into an account paying 3.5% interest compounded semi-annually. If she leaves her money in the account for four years what would be her account BALANCE? (Balance – initial investment plus interest)
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A: The basic compound interest formula A = P(1 + r/n)nt .Priincipal is $1500,t= 25 years,r=3%.
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y=p(1+r/n)^nt
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- Refer to the present value table information on the previous page. What amount should Brett have in his bank account today, before withdrawal, if he needs 2,000 each year for 4 years, with the first withdrawal to be made today and each subsequent withdrawal at 1-year intervals? (Brett is to have exactly a zero balance in his bank account after the fourth withdrawal.) a. 2,000 + (2,000 0.926) + (2,000 0. 857) + (2,000 0.794) b. 2,0000.7354 c. (2,000 0.926) + (2,000 0.857) + (2,000 0.794) + (2,000 0.735) d. 2,0000.9264Lyndsay puts $1,000.00 into a savings account that pays 3% interest, compounded annually. As the interest is earned, she leaves it in her account. At the end of the third year, what is her balance? a. $1,030.00 b. $1,090.00 c. $1,095.95 d. $1,092.73At the end of every 3 months, Judy deposits $100 into an account that pays 6% compounded quarterly. After 4 years, she puts the accumulated amount into a certificate of deposit paying 7.5% compounded semiannually for 1 year. When this certificate matures, how much will Judy have accumulated? Round the answer to the nearest cent. A. $1823.20 B. $1920.96 C. $1930.25 D. $2072.31 .....
- Avril deposited $800 in his bank at 1.5% for five years. Use the simple interest formula to calculate the amount of interest Avril will earn. Calculate the future value of her deposit.Lyndsay puts $1,000.00 into a savings account that pays 3% interest, compounded annually. As the interest is earned, she leaves it in her account. At the end of the third year, what is her balance? Group of answer choices $1,030.00 $1,090.00 $1,092.73 $1,095.95Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n for the compound interest part? B) What is the future value after the compound interest part? C) Simple interest is used for how many months? D) Assuming simple interest for the partial period, how much money does Rachael have in the account at the end of 7 years and 8 months?
- 1) Alisha invests 5,000 into an account. The effective monthly interest rate is .25% for the first six months, .5% for the next year, and .75% for the next six months. Find the amount Alisha has in the account after two years, and find the average compound monthly interest rate (i.e. the equivalent effective monthly interest rate) for the two year period. Finally, find the average yearly interest rate (i.e. the equivalent effective annual interest rate) for the two year period.Camille Noah is investing $5,000 in an account that pays an annually compounded rate of 6.75 percent for three years. What is the interest on interest if interest is compounded?Erica borrowed money from Charles an amount of 58,744 and promise to pay at the end of second and fourth year at a simple interest rate of 15.198%. The second payment is 30% more than the first one. How much is the first payment? How much is the second payment?
- Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. $95,037.72$103,940.74 $112,256.00$113,556.00At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8% compounded annually. How much is in the account today? How much would be in the account if the deposits were made at the beginning of each year (PMT Type) than at the end of each year? (Use Future Value of an AnnuityInterest Earned. On June 1, Mia deposited $5,600 in an MMDA that pays 3% interest. On October 31, Mia invested $1,200 in a three-month CD that pays 4%. At the end of the year, how much interest will Mia have earned, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is (Round to the nearest cent.).