An amount of $3000.00 is deposited in a bank paying an annual interest rate of 5 % compounded daily. Find the balance after 4 years.$4,56798$3,664.16$3,540.27$3,001.50None of these

A concept that implies the future worth of the money is lower than its current value due to several…

Answered: An amount of $3000.00 is deposited in a…

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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A $35,000 bank loan is to be repaid in equal yearly payment over 15 years at an effective annual interest rate of 5%. You did the calculation and found that your annual payment is $3372. What is the unpaid principal after you made your 8th payment? A. B. C. D. $17,115 $19,512 $14,599 $21,794
How much would you have to deposit into a bank at the beginning of every 6 months to have a total of $10 000 in 8 years if interest is 7% compounded quarterly? $459.47 $475.15 $625.00 $475.69
You have just deposited X dollars in your bank account that pays interest of 6 percent p.a. You discover that at the end of one year you have $ 10,044 in the account. What was X, that is, the amount of money that you deposited today? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
You just deposited $6,500 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? Select the correct answer. a. 26,058.29 b. 26,040.89 c. 26,006.09 d. 26,023.49 e. 26,075.69
17. You deposit $8,000 in a bank account today. You make another deposit of $14,000 into the account in year one and you make a third deposit of $10,000 in year two. The bank pays interest at 8 percent compounded annually. How much will you have in your account at the end of year 3? * O a) $37,207 b) $35,207 O c) $39,207 O d) $40,502 e) None of the above
If you deposit $20,000 in a bank account that pays 5% interest annually, how much will be in your account after 5 years? A. $15,670.52 B. $18,525.63 C. $25,670.52 D. $15,525,63 E. $25,525.63
A lump sum deposit of $8,000 left in the bank for 12 years at 9% compounded annually will result in an ending balance of: (Report an integer)
Suppose that you deposit $750 into a bank account today. If the bank pays 8 percent APR per year, compounded quarterly, how much will be in the account at the end of 4 years.A. $812 84B. $750.00C. $1,029.59D. $927.52E. $1.020.37
Calculate the missing amount for each of the following notes receivable.Face Value Annual Interest Rate Fraction of the Year Interest $11,000 6% 4 months (a) $30,000 5% (b) $1,500 $35,000 (c) 6 months $1,225 (d) 8% 6 months $ 700
You deposited $250 in the bank for 5 years at 12%. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the compounded amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. Year Year Beginning Balance Interest Year End Balance 1 $250.00 2 3 4 5 PLEASE NOTE #1: All dollar amounts will be with "$" and commas as needed and rounded to two decimal places (i.e. $12,345.67). Present Value (PV) PV FV Factor Future Value (FV) PLEASE NOTE #2: All factors from the PV FV Tables are rounded to three decimal places (i.e. 1.234).
3. You deposited $250 in the bank for 5 years at 12%. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the compounded amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. Year Year Beginning Balance Interest Year End Balance 1 $250.00 ? ? 2 ? ? ? 3 ? ? ? 4 ? ? ? 5 ? ? ? PLEASE NOTE #1: All dollar amounts will be with "$" and commas as needed and rounded to two decimal places (i.e. $12,345.67). Use the future value of $1 table in the Appendix B PV FV Tables Appendix B PV FV Tablesand verify that your answer above is correct. Present Value (PV) PV FV Factor Future Value (FV) ? ? ? PLEASE NOTE #2: All factors from the PV FV Tables are rounded to three decimal places (i.e. 1.234).

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An amount of $3000.00 is deposited in a bank paying an annual interest rate of 5 % compounded daily. Find the balance after 4 years. $4,56798 $3,664.16 $3,540.27 $3,001.50 None of these