Cynthia Reynolds deposited $22,000 in an account paying interest of 4% compounded annually.Click here to view the factor table.What amount will be in the account at the end of 4 years? (For calculation purposes, use 5 decimal places as displayed in the factor tableprovided. Round answer to 2 decimal places, es. 52.75)Amount

Lets understand the basics. Compounding interest is a interest calculated on the principle as well…

Answered: Cynthia Reynolds deposited $22,000 in…

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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Similar questions

Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. $95,037.72$103,940.74 $112,256.00$113,556.00
Find the compound amount and the amount of interest earned by the following deposit. $7,000 at 7.87% compounded continuously for 4 years. What is the compound amount? $ (Round to the nearest cent.)
Find the time required for $5000 to be equal to $14,000 when deposited at 4% compounded monthly. years (Round to three decimal places.)
How much interest is earned in 8 years on $8400 deposited in an account paying 7% interest, compounded semiannually? (Round your answer to two decimal places.) Only type answer and give answer fast
Colton received a loan of $44,700 at 8.1% compounded semi-annually and settled the loan by making payments at the end of every three months for one year. Round off all answers to two decimal places a) Calculate the size of the payments. PMT Payment Number b) Fill in the missing values in the amortization schedule below. 0 2 3 Payment Amount ($) PMT $ $ $ - $ $ Interest Portion ($) INT Principal Portion ($) PRN Loan Balance ($) BAL $44,700
A depositor opens a new savings account with $4000 at 6% compounded semiannually. At the beginning of year 5, an additional $6000 is deposited. At the end of six years, what is the balance in the account? Click the icon to view some finance formulas + The balance in the account at the end of 6 years is $ (Do not round until the final answer. Then round to the nearest cent as needed.) GIS
Hinton Inc. borrowed$35,000for 7 years at a simple interest rate of6.1%. The interest was to be paid monthly. (a) Find the monthly interest payment. (Round your final answer to two decimal places.)$ (b) Find the total amount of interest paid.
Three years ado, Adam deposited RMY in account that paid interest at 4.2% compounded semi - annually. Today, another RM 6,000 is deposited into the same account. If the accumulated amount in the account four years from now is RM 33,839.39, Find the value of Y
Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Account Holder Amount Deposited AnnualInterest Rate CompoundingPeriods Per Year (M) CompoundingPeriods (Years)Theodore Logan III $1,000 10% 1 10Vernell Coles $95,000 12% 12 1Tina Elliot $8,000 12% 6 2Wayne Robinson $120,000 8% 4 2Eunice Chung $30,000 10% 2 4Kelly Cravens $15,000 12% 3 3
Lee Holmes deposited $16,100 in a new savings account at 8% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,100 at 8% interest compounded semiannually. At the end of 6 years, what is the balance in Lee's account? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Balance $
i need al answer a, b ,c
Jesse received a loan of $36,000 at 5.75% coumpounded quarterly. She had to make payments at the end of every quarter for a period of 5 years to settle the loan. a. Calculate the size of payments Round to the nearest cent b. Fill in the partial amortization schedule for the loan, rounding your answers to two decimal places Payment Number Payment Interest Portions Principal Portion Principal Balance

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