Exactly 3 years ago, Carlos deposited $791 into a savings account that earned 1% annual interest, compounded quarterly. There have been no other deposits and no withdrawals. What is the account balance today?
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- What is the effective rate of interest on these financial accounting question?You invest $ 4,060 in an account today. You make no additional deposits into the account. One year from today there is $ 5,140 in the account. What is the nominal interest rate that you earned on your money? (Record your answer as a percent rounded to 1 decimal place; for example, record .527945 = 52.8% as 52.8). Your Answer:10) the math of interest. please indicate if you are unsure or totally sure about the answer
- Assume Bill Jones invested $ 2,160.57 into an account exactly one year ago. The account has an interest rate of 5.9 % p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84).Tom Vu deposited $5,000 in a savings account... Please need answer the financial accountingAssume Jed Gerbil invested $ 12,524 into an account exactly two years ago. The account has an interest rate of 13.1 % p.a. How much does Jed have in his account today (that is, exactly two years after the initial deposit)? (Round your answer to the nearest cent and record your answer without a dollar sign and without commas. For example, record $1,356.8382 as 1356.84).
- 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).Your cousin deposited some money into an account earning 4.75% interest, compounded daily, three years ago. He now has $4060.17. How much did he originally invest? Assume no withdrawals are made.A savings account earns 2.5% interest. If $3000 is invested, How many years is it until each of the following amounts is on deposit? (a) $3394 (b) $3655 (c) $4035 (d) $5165 ?
- Ryan has just deposited... Can you please answer this financial accounting question?2. Simple versus compound interest Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed or a variable interest rate. Assume that fixed interest rates are used throughout this question. Addison deposited $1,000 in a savings account at her bank. Her account will earn an annual simple interest rate of 5.8%. If she makes no additional deposits or withdrawals, how much money will she have in her account in 9 years? O $1,061.36 O $1,661.01 O $158.00 O $1,522.00 Now, assume that Addison's savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on her $1,000 balance. All other things being equal, how much money will Addison have in her account in 9 years? O $1,058.00 O $1,522.00 O $96.34 O $1,661.01How much did you initially deposit?