8.A The amount of money earning interest in a savings accountH. withdrawal9. Jessa Walton deposits $275.00 in a savings account. The account pays an annual interest rate of 5%. Shemakes no other deposits and withdrawals. After 3 months, the interest is calculated. How much simple interestdid his money earn?10. Suppose you deposit $5,000 in an account that pays 5.5% compounded daily. According to the table benow much interest will you earn in 25 days?1nterrst = Aman+ heldiaAmount of $1.00Compounded Daily(365-Day Year)*Amount Day1.003161.003315.5%GccanT X interest ratetAmount1.004681.00483DayPeroa 12monthsPincipal cmant =9275312122322324251.00498331.00513341.005281.003471.003621.0037735. Which of the following is the correct way to write the amount $56.67?fifty-Seven CeSix dairs nd

Interest is the amount which the company or the person earns on the balance which is in the bank…

Answered: 9. Jessa Walton deposits $275.00 in a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bella deposits $6400 in a savings account at a bank that offers interest of 1.8% on such accounts. What is the value of the money in her savings account in two year's time? Select one: a. $6,630.4 b. $6,632.5 C. $8,911 O d. d. $6,505.2 <
10. Kristine has $5,000 in an account today that pays 3% interest rate. Two years from now she withdraws $1,000 from that account to buy a laptop. How much will she have in this account in 6 years if she does not make any other deposits or withdrawals? Assume annual compounding. a. $4,844.75 b. $7,095.77 c. $4,776.21 d. $7,164.31 e. $4,970.26 11. Your grandaunt wants to buy an (ordinary) annuity that will pay her cost of living of $70,000 per year for 20 years. If the quoted interest rate today is 5% and the annuity compounds monthly, how much does this annuity cost? a. $872,354.72 b. $865,404.52 c. $883,897.66 d. $863,824.15 12. After graduation, you get a great job. You budget $1,000 per month towards housing. You'd like to buy a house. Assume that the interest rate = 4% for a 30-year mortgage. a. How much can you borrow? i. $209,461.24 ii. $207,504.40 iii. $694,049.40 iv. $24,999.98 b. Eight years into the mortgage, your company decides to relocate you to Hawaii. How much must you…
1. In a bank account that pays interest 8% p.a, what should you deposit now to have a balance of £900 a year from now? £ 数字 Enter an answer correct to 2 decimal places. 2.a) You deposit £300 into a savings account, which pays compound interest at a rate of 7% per annum. How much money do you have after 3 years? £ 数字 Enter an answer correct to 2 decimal places. b) How many years must you wait to double your capital? 数字 Enter an integer. years
Please solve very soon
2. When you were born, your dear old Aunt MsRahat promised to deposit Rs2700 in asavings account for you on each and everye of your birthdays, beginning with yourfirst. The savings account bears a 6 percentcompound annual rate of interest. You havejust turned 30 and want all the cash. However,it turns out that dear old (forgetful) Aunt MsRahat made no deposits on your eighth,eighteenth, twenty second and twenty seventhbirthdays. How much is in the account nowon your thirtieth birthday?3. Sales of the Master Company were Rs.350,000 this year, and they are expected togrow at a compound rate of 15 percent for thenext ninth years. What will be the sales figureat the end of each of the next ninth years?4. A 5 year loan of Rs. 1500,000 with equalinstalment payments at the end of each year.The interest rate is 9% Per year. Establish loanamortization schedule.
Suppose a family is depositing money into a bank account continuously, and the account earns interest of 4% annually (compounded continuously). The family began their first year with $23, 000 in the account. Assuming they don't make any withdrawals, how much money is in the account after 4 years? Answer should be $26,990.75
Five years ago, you deposited $1,000 in a bank account. One year ago, you deposited $2,000 in the same bank account. Assuming no other deposits and no withdrawals, what will be in the account 7 years from now? Assume an interest rate of 4%. Use the $ symbol and round to the nearest dollar...no decimal places...use a comma.
Manshukh
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).
Suppose your parents deposit $4,000 into an account at the end of each year for 11 years. The account earns an annual interest rate of 1.4%. After the final deposit, they move the accumulated savings to a brokerage account and invest in the stock market, where they earn an average annual return of 6.9% for the following 16 years. How much will they have in the account at the end? O a. $131,280 O b. $404,155 O c. $137,311 O d. $296,336 e. $302,138 f. $279,603 g. $496,270 h. $249,511
Use the following information to answer the question that follows: 5 years ago Mayra began depositing money into a bank account every quarter that earns 6% compounded quarterly. The account now has $6000 in it. How much did Mayra deposit into the account quarterly? For the question above, what is the value of r ? r=0.6 r=0.015 r=6 r=24 r=0.06

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