Daniel and Claire each deposit 10,000 in high interest savings account and each earned 5% interest annually Daniels ROI remain the same each year while Claire's increased each year. What type of interest did Daniels bank pay? What type of interested Claire's bank pay?

Q: Connie made deposits of $2,000 at the beginning of each year for four years. The rate she earned is…

A: Given:

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Q: much

A: Formula to calculate future value is: FV = PV(1+r)^n Where FV is the future value, r is the rate of…

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A: Interest Rate is the rate that is earned by the investor on deposits or paid by the borrower on…

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A: future value formula: future value = present value×1+rateyear

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Q: annual

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A: The rate of interest can be computed with the help of future value function.

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A: Compound interest is one of the type of interest under which interest is charged on both principal…

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A: Amount deposited = $12,000Interest rate :   for first year = 6%  for second year = 7%

Q: sandra and cindy both invest $14,000 into savings accounts that earn simple interest if sandras…

A: Simple interest formula = A = P (1+rt) Where, A = Final amount i.e. Principal + Interest P =…

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A: Formula: FV=PV×1+rt

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A: Present value refers to the current value of future investment or series of investments at a rate of…

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A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Jamie earned $14 in interest on her savings account last year. She has decided to leave the $14 in…

A: This is because Jamie's $14 in interest from last year will be added to the principal balance of her…

Q: Janet borrows $3500 from a credit card company at 22.5% annually for 3 years. Determine Janet’s…

A: Borrowed amount (B) = $3500 r = 22.5% per annum = 1.875% per month n = 3 years = 36 months Let the…

Q: Heidi deposits $8,000 in a savings account that earns 4.5% compound interest. What is the estimated…

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Q: 3.) Michael Perez has a total of $2000 on deposit with two savings institutions. One pays interest…

A: Let the deposit amount in a institution that pays 8% a year = a Therefore, deposit amount in a…

Q: When you were born, your dear old Aunt Minnie promised to deposit $1,000 into a savings account…

A: Annuity refers to a regular stream of cash flows over a definite period. When cash flow occurs at…

Q: Lisa deposits $80,000 into an account that pays 6% interest per year, compounded annually. Scott…

A: We need to use simple interest and compound interest formula to calculate Interest earning Simple…