A principal amount of 6,000 will be placed in a savings account. A simple interest account earns an annual percentage of 6.8%, while a compund interest account has an APR of 3.7% compunded quartely. Which account has a larger balance after 20 years?

Q: A $2200 bond earns 9.3% compounded monthly for 9 years. Determine the amount of the investment at…

A: A $2200 bond earns 9.3% compounded monthly for 9 years.

Q: Determine the value of an account after 10 years if a principal amount of 11000 was deposited with…

A:

Q: You know you will have $1,000,000 in your account when you retire. You want to be able to take…

A:

Q: You have $500,000 saved for retirement. Your account earns 5% interest. How much will you be able to…

A:

Q: fi

A:

Q: The stock of a fast-food restaurant chain pays a dividend of $0.67. If the share price for this…

A: The objective of this question is to calculate the dividend yield of a stock. The dividend yield is…

Q: Karen's Katering borrows $5,500, at 8.5% interest, for 280 days. If the bank uses the exact interest…

A: Interest found using a 365 day year is exact interest method P=$5500 r=0.085 t=280/365

Q: You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A: It is given that,      r= annual interest rate=8%=0.08      k=monthly compounding=12      N=number…

Q: Mary deposits $9,000 in a bank account that guarantees a simple interest rate of 7.5% per year. How…

A:

Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

Q: A bond pays dividends of $110 at the end of each year. If the bond matures in 20 years, what is the…

A:

Q: Find the interest for a principal of $8883, rate 9.3% and 5 years.

A: According to the question,  We have: Principal = P = $8883 Rate of Interest = R= 9.3% Time period =…

Q: You have 300,000 saved for retirement. Your account earns 4% interest. How much will you be able to…

A: Given that, You have 300,000 saved for retirement. Your account earns 4% interest. We need to find…

Q: A WSU student invests $13,000 for 4 years at an annual simple interest rate of 12%. How much will be…

A:

Q: You want to withdrawal $25000 a year for 20 years.  Your account earns 10% interest.  How much do…

A: Sol:- This is a classic example of a "present value of an annuity" problem, where we need to…

Q: A mutual fund pays a yearly interest of 3.4%. If you invested $7,000 for 5 years, what is the value…

A: Given, Invested amount=7000$ rate of interest= 3.4% No of years=5  Investment after 5 years =?

Q: Johnson Trucking Company wil have a $40,000 payment due in 5 years. How much would they need to…

A: Thanks for the question :)And your upvote will be really appreciable ;)