HW3 Ch05 & CH06

4.1       Simple Interest versus Compound Interest First City Bank pays 7.7 percent simple interest on its savings account balances, whereas Second City Bank pays 7.7 percent interest compounded annually. If you made a $7,800 deposit in each bank, how much more money would you earn from your Second City Bank Account at the end of ten years?

Question 3 First City Bank pays 6% annual simple interest on its saving account balances, whereas Second City Bank pays 6 percent interest a year compounded annually. If you made a deposit of $7500 in each bank, how much more money would you earn from your Second City Bank account at the end if 10 years?

18:50 ed ok nt int First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest compounded annually. If you made a deposit of $63,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Difference in accounts

QUESTION 3 If you deposit today 11,445.85 in an account earning 8% compound interest, for how long should you invest the money in order to earn 12,488.36 (profit)?

QUESTION 3 You just deposited $3,500 in a bank account that pays a 4.0% nominal interest rate, compounded quarterly. If you also add another $5,000 to the account one year (4 quarters) from now and another $7,500 to the account two years (8 quarters) from now, how much will be in the account three years (12 quarters) from now? a. $19,222.23 Ob. $13,386.91 c. $18,535.72 d. $14,245,04 Oe. $17,162.70

If a 6 month term deposit at a bank pays a simple interest of 3%, how much will have to be deposited to earn $18,000? A. $270 B. $120,000 C. $540  D. $600,000 E. $1,200,000

Question 15 What is the present value of your investment if you deposited $100.00 into your bank account at the beginning of each quarter for 10 years if the bank pays interest is 6% compounded semi-annually? a. $2,854.90 b. $3,036.46 c. $1,628.23 d. $3042.28 e. $900.17

Problem 4-1 Simple Interest versus Compound Interest First City Bank pays 6 percent simple interest on its savings account balances, whereas Second City Bank pays 6 percent interest compounded annually. If you made a deposit of $63,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Financial accounting how much will you have in a savings account

Question 34 If 6000 dollars is invested in a bank account at an interest rate of 8 per cent per yea Find the amount in the bank after 15 years if interest is compounded annually: Find the amount in the bank after 15 years if interest is compounded quarterly: Find the amount in the bank after 15 years if interest is compounded monthly: Question Help: D Post to forum Submit Question MacBook Air

PROBLEM 14 Find how much money should be deposited in a bank paying interest at the rate of 3.5% per yearcompounded quarterly so that at the end of 5 years the accumulated amount will be $40,000

TEST I. PROMLEM SOLVING: A bank offers 0.25% annual simple interest rate for a particular deposit. How much interest will be earned if 1 million pesos is deposited in this savings account for 1 year? 1. Sunnose vour father denosited in vour bank account P10.000 at an annual interest rate of 0.5%

Solve all parts

Financial Accounting

Question content area top Part 1 ​(Comprehensive problem)  You would like to have ​$57,000 in 14 years. To accumulate this​ amount, you plan to deposit an equal sum in the bank each year that will earn 6 percent interest compounded annually. Your first payment will be made at the end of the year.   a.  How much must you deposit annually to accumulate this​ amount? b.  If you decide to make a large​ lump-sum deposit today instead of the annual​ deposits, how large should this​ lump-sum deposit​ be? ​ (Assume you can earn 6 percent on this​ deposit.) c.  At the end of five​ years, you will receive ​$15,000 and deposit this in the bank toward your goal of ​$57,000 at the end of year 14. In addition to the​ lump-sum deposit, how much must you deposit in equal annual​ amounts, beginning in year 1 to reach your​ goal? ​ (Again, assume you can earn 6 percent on your​ deposits.)       Question content area bottom Part 1 a.  How much must you deposit annually to accumulate this​ amount?…

How much must you deposit in a bank account today to have $1000 at the end of 8 years if the bank quotes a rate of 1.25%, compounded daily? Assume a 365-day year. Group of answer choices $905 $360 $125                                                            $1,104

Hw 10