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?

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

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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

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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

Balance sheet of the Summer bank Assets Liabilities   Cash                                 $ 8,000 Deposited with the Fed   $ 6,000   Loans                               $ 116,000      Deposits $ 80,000   Capital    $ 50,000 Total                                 $ 130,000 Total          $ 130,000   The required reserve ratio (RRR) on all deposits is 8% a. What, if any, are this bank's excess reserves? b. How much new amount of loan will this bank be able to create because of the excess reserves?

Question 3 Kamal deposits 1207 $ in a bank, if the interest rate is 23.3 % per year compounded monthly, find the net profit after 4 years. 0 o

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

Financial Accounting

Question Help ▼ Scott invested a total of $5900 at two separate banks. One bank pays simple interest of 10% per year while the other pays simple interest at a rate of 8% per year. Scott earned $534.00 in interest during a single year, how much did he have on deposit in each bank? Scott had $ on deposit at the bank that payed 10% interest. ur

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?…

Hw 10

QUESTION 8 Every year for 10 years starting year 2, you deposit $2000 in a savings account that earns 7% yearly. What is the present value of this series? 36,436.26 O 7,023.58 O 70,893.54 O 13,128.19

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Question content area top Part 1 ​(Comprehensive problem)  You would like to have ​$   60,000 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 ​$   10,000 and deposit this in the bank toward your goal of ​$   60,000 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…

Question 4 John makes an Investment of 10900 Into an account that pays Interest compounded annually. In addition, he makes a yearly deposit of $170. At the end of 3 years, his balance is 15900. Determine the Interest he earned on the savings account. John annual percentage rate on his investment was Time Value of Money Solver Enter the given values. N: = 0 Number of Payment Periods 1:%= 0 Annual Interest Rate as a Percent PV: = Present Value 0 PMT: = 0 Payment FV: = in Solve Solve Solve Solve Salve 3 31

Question #2 A bank offers a lending rate of 10% p.a. compounded quarterly. What figure would they quote if they wished to express this rate: a. On a p.a. basis compounded monthly? b. On a p.a. basis compounded continuously? c. As an effective half year rate? d. As an EAR?

Nine Question

Eight Question

Question list Question 31 Question 32 K a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate $? at the end of each month 5.5% compounded monthly Time 12 years Financial Goal $220,000 Click the icon to view some finance formulas. a. The periodic deposit is $ Question 33 ○ Question 34 (Do not round until the final answer. Then round up to the nearest dollar as needed.) b. $ of the $220,000 comes from deposits and $ comes from interest. (Use the answer from part (a) to find these answers. Round to the nearest dollar as needed.) Question 35

Hh2. Account

7 Use Excel