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?

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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

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

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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

Accounting Question please answer fast and step by step calculation

3.51 Find the equivalent present worth of the cash receipts where i = 9%. In other words, how much do you have to deposit now (with the second deposit in the amount of $300 at the end of the first year) so that you will be able to withdraw $300 at the end of second year, $180 at the end of third year, and so forth if the bank pays you an 9% annual interest on your balance? $450 $300 $180 $180 1 2 3 4 5 Years $300 Figure P3.51

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

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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