26. $300 is deposited into an account paying 4% interest per year, compounded annually. What will be the balance of the account after 6 years, rounded to the nearest penny?

Q: years

A: Rate of interest r= 3% compounded annually, Given the t time period,t  = 7 years, Which means…

Q: Use the appropriate formula to find the future value in dollars of $700 deposited at the beginning…

A: The answer is in the explanation section.Explanation:The interest is compounded annually, but the…

Q: You deposit P10,000 today in savings account that pays 3% interest, compounded annually. How much…

A: A study that proves that the future worth of the money is lower than its current value due to…

Q: 1. you deposit $500 into an account that pays 4.2% interest compounded monthly. how much money will…

A: Given details are : Present value (investment today) = $500 Interest rate = 4.2% Time period of…

Q: How much must be deposited at the beginning of each year in an account that pays 3% compounded…

A: Time value tells that amount received today is of more value than that of receiving the exact value…

Q: If $450 is deposited at the end of each quarter into an account paying 10% compounded quarterly, how…

A: The question is based on the concept of Annuity.

Q: 6. If you deposit $4,000 now, $5,000 at the end of 2 years and $6,000 at the end of 5 years into an…

A: The concept of money's time value reveals that any sum currently is worth more as compared to the…

Q: w much will be in an account at the end of five years the amount deposited today is $10,000 and…

A: The given problem can be solved using FV function in excel. FV function computes  future value for…

Q: How much interest will an account earn if you deposited $605 at the end of every six months for 11…

A: Amount deposited$605Number of years11Interest rate3.50%

Q: If you deposit $750 at 12.41% annual interest compounded daily, how much money will be in the…

A: P = $750r =0.1241n =364t = 4A =?

Q: How much money should be on the account today in order for annually withdrawals of $100.00 to be…

A: Here we will use the concept of time value of money. As per the concept of time value of money the…

Q: If you deposit RM25,000 in an account earning 16% with quarterly compounding, how much would you…

A: Amount of Deposit = RM 25,000 Interest Rate = 16% per annum Quartery interest Rate(r) = 16%/4 = 4%…

Q: How much would you need to deposit in an account now in order to have $6,000 in the account in 8…

A: In order to solve this question one has to solve for the present value to know how much to save into…

Q: How much interest will an account earn if you deposited $605 at the end of every six months for 11…

A: The objective of the question is to calculate the total interest earned on an account where $605 is…

Q: A monthly deposit of $300 is put into an account earning 5% interest compounded monthly. Round to…

A: Solution:- When an equal amount is depsited each period at end of period, it is called ordinary…

Q: if $204 is deposited in a savings account at the beginning of each year for 12 years and the account…

A: The given problem can be solved using FV function in excel. FV function computes amount balance in…

Q: You invest $4,000 in an account that pays a fixed annual rate of 6% interest compounded yearly. How…

A: In the present question we require to calculate the future value after 7 years from the following…

Q: How much must be deposited at the beginning of each quarter in an account that pays 5% compounded…

A: In this question payment per quarter has to be find out. Future value , rate of return and number of…

Q: 6.​If the current value of $1000 received five years from now is $680.50, what is the ​assumed…

A: Annual interest rate refers to the rate that is being charged by the lender by the borrower on the…

Q: If for the next 30 years you place $2,000 in equal year-end-deposits into an account earning 5% per…

A: Future Value of Ordinary Annuity refers to the concept which gives out the compounded or future…

Q: Find the final amount of money in an account if $7,400 is deposited at 7.5% interest compounded…

A: The interest rate compounds semi-annually. Hence, the interest rate that should be considered is…

Q: How much will be in an account at the end of five years the amount deposited today is $10,000 and…

A: The given problem can be solved using FV function in exceL. FV function computes amount BALANCE in…

Q: How much money would you need to deposit today at 16.12% annual interest compounded monthly to have…

A: Present value refers to the current value of the future cash flow. Present value can be determined…

Q: 1. What is the future worth of a serios of equal deposits of $1500 for 10 years in a savings account…

A: Future Worth: It is the future value of annuity payments made over a period of time or the future…

Q: If you deposit $368.00 into an account paying 15.46% annual interest compounded quarterly, how many…

A: The concept of time value of money will be used and applied here. As per this concept the worth of…

Q: how much interest will an account earn if you deposited $435 at the end of every six months for 7…

A: The objective of the question is to calculate the total interest earned on an account where $435 is…

Q: How much must be deposited at the beginning of each month in an account that pays 6% compounded…

A: Monthly rate = 6%/12 = 0.5% Number of periods = 7*12 = 84 Future value required is $31,000 Find…

Q: In how many years will it take $17596accumulate to $31237 when you deposited in a savings account…

A:

Q: 5. How much should be deposited in an account yielding 8% compounding weekly to obtain $14.9o0 in…

A: Compound interest is defined as an addition of an interest to the sum of principal of the deposits…

Q: If you deposit $500 every 6 months for 7 years at an interest rate 20% compounded quarterly, how…

A: The amount at the end of 7 years is the future value of the semiannual deposits.

Q: You deposit $6000 in an account earnings 7% interest compounded monthly. How much you will you have…

A: future value formula: future value = present value×1+RMM×N where, R=rate M=frequency

Q: .A series of equal cash $200 that is deposited at the end of each month will last for 10 years. How…

A: Monthly deposit (M) = $200 n = 10 years = 120 payments r = 9% per annum = 0.75% per month

Q: Who is the minister of finance

A: Introduction: Ministry of finance is concerned with financial legislation, Union budget, taxation,…

Q: 11. You put $165 in the bank for 5 years at 13%. If interest is added at the end of the year, how…

A: Account value at end of  year 5 can be calculated as future value of account

Q: Use 365 for the number of the days in a year. Calculate the future value (in dollars) of $1,150…

A: Time value of money is a financial concept which is used to calculate the value of money in present…

Q: How much must be deposited at the beginning of each year in an account that pays 5%, compounded…

A: Deposited amount refers to an amount invested by the investor for the purpose of earning some…

Q: How much interest will an account earn if you deposited $665 at the end of every six months for 8…

A: An annuity is a financial product that provides a series of payments at fixed intervals, typically…