Deposited $ 1,000 Account Holder Interest Rate Periods per Year (m) Periods (year Theodore Logan III 10% 1 10 Vernell Coles 95,000 12 12 Tina Elliott 8,000 12 6. 2 Wayne Robinson 120,000 8 4 Eunice Chung 30,000 10 4 Kelly Cravens 15,000 12 3

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
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Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period USE EXCEL TO WORK THIS OUT AND SHOW THE FORMULA!
Compounding
Periods (years
Amount
Annual
Compounding
Periods per Year (m)
Account Holder
Deposited
Interest Rate
Theodore Logan III
$ 1,000
10%
1
10
Vernell Coles
95,000
12
12
1
Tina Elliott
8,000
12
Wayne Robinson
Eunice Chung
120,000
8
4
30,000
10
4
Kelly Cravens
15,000
12
3
Transcribed Image Text:Compounding Periods (years Amount Annual Compounding Periods per Year (m) Account Holder Deposited Interest Rate Theodore Logan III $ 1,000 10% 1 10 Vernell Coles 95,000 12 12 1 Tina Elliott 8,000 12 Wayne Robinson Eunice Chung 120,000 8 4 30,000 10 4 Kelly Cravens 15,000 12 3
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