23. Amanda deposited $5, 600 into a savings account that earns 3.5% interest compounded daily. Find the maturity value of the account after the third quarter of the year. Use the table below. Interest by Quarter for 3.5%Compounded Daily Assuming 90-day Quarters Number of Quarters Value of (1+i)" 1 1.008667067 2 1.017409251 3 1.026227205 4. 1.035121585 O $5, 643.78 O $5, 746.87 O $5, 748.90 O $5. 698 82

23. Amanda deposited $5, 600 into a savings account that earns 3.5% interest compounded daily. Find the maturity value of the account after the third quarter of the year. Use the table below. Interest by Quarter for 3.5%Compounded Daily Assuming 90-day Quarters Number of Quarters Value of (1+i)" 1 1.008667067 2 1.017409251 3 1.026227205 4. 1.035121585 O $5, 643.78 O $5, 746.87 O $5, 748.90 O $5. 698 82

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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4. Find the amount of interest earned on $23,000 compounded quarterly at 7.42% for 40 years. 5. Find the effective interest rate to the nearest hundredth if the nominal interest rate is 10% compounded quarterly. 6. Kayla deposited $8000 in a CD (Certificate of Deposit) paying 5% compounded semiannually. What is the Maturity Value of the CD?
Suppose you deposit $2899 into an account today In six years the account is worth $3,754 the account earned ____% per year
A payment of $140 was made at the beginning of each month for 9 years into a savings account. After that the accumulated amount was left on the account for 7.5 years. The interest rate on the account is 3.4% compounded semi-annually. Find the interest earned on the account.
4. You borrowed $31,305 on January 1st. The annual interest rate is 7%. Interest is compounded annually. No annual payments are made but you will repay principal and interest in full at the end of nine years. What amount will you repay? Round your answer to two decimal places.
Assume Bill Jones invested $4,604.93 into an account exactly one year ago. The account has an interest rate of 7.4% p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)?
A depositor opens in your savings account with $5000 at 5% compounded semiannually at the beginning of 5 years an additional $5000 is deposit at the end of 6 years. What is the balance in the account?
Anita opens a savings account. At the start of each month she deposits SX into the savings account. At the end of each month, after interest is added into the savings account, the bank withdraws $2500 from the savings account as a loan repayment. Let M be the amount in the savings account after the n" withdrawal. The savings account pays interest of 4.2% per annum compounded monthly. (i) Show that after the second withdrawal the amount in the savings account is given by M = X(1.0035 + 1.0035)- 2500(1.0035 + 1). %3D (ii) Find the value of X so that the amount in the savings account is $80 000 after the last withdrawal of the fourth year.
Aubrey Daniel’s savings account has a principal of $5,725. It earns 4% interest compounded quarterly for 3 years. For the period indicated, calculate a) the amount and b) the compound interest.
3. Scott deposits 80 today into an account that credits a nominal interest rate of 6% compounded quarterly. pe Roberta deposits X today into an account that credits a nominal discount rate of 4% compounded semi-annually (twice per year). After 18 years, the balance in Scott's account is equal to the balance in Roberta's account. Determine X.
Assume Jed Gerbil invested $ 12,524 into an account exactly two years ago. The account has an interest rate of 13.1 % p.a. How much does Jed have in his account today (that is, exactly two years after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84).
Nikul

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