Find the total value of the savings account after the time given.1) $1,000 at 6% compoundedmonthly for 4 years11,0002) $19,800 at 4% compoundedsemiannually for 10 years$19.8001129.63) $52,900 at 15% compoundedmonthly for 4 years100 F5) $12,800 at 9% compoundedquarterly for 5 years2=250,497.864) $24,000 at 13% compounded 143quarterly for 2 yearsU100+6) $1,740 at 9% compoundedsemiannually for 7 years7) $10,000 at 3% compoundedmonthly for 4 years8) $350 at 11% compoundedsemiannually for 6 years9) $29,000 at 10% compoundedquarterly for 2 years10) $24,300 at 11% compoundedquarterly for 2 years

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Answered: Find the total value of the savings…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Manually calculate the compound interest on an investment of $7,500 at 6% interest, compounded semiannually, for 18 months. a. $675.00 b. $685.05 c. $695.45 d. $8,195.48
Bradley contributed $900 at the end of every 3 months into an RRSP fund earning 3.77% compounded quarterly for 8 years. a. What is the future value of the fund at the end of 8 years? Round to the nearest cent b. What is the amount of interest earned over this period? Round to the nearest cent
Suppose a 40-year old person deposits $8000 per year in an individual retirement account until age 65. Find the total in the account with the following assumption of an interest rate. (Assume quarterly compounding, with payments of $2000 made at the end of each quarter period.). Find the total amount of interest earned. 7% The total in the account $___. (Round to the nearest CENT as needed.)
Manvir invested $1,600 at the beginning of every 6 months in an RRSP for 11 years. For the first 8 years it earned interest at a rate of 4.60% compounded semi-annually and for the next 3 years it earned interest at a rate of 6.30% compounded semi-annually. a. Calculate the accumulated value of her investment at the end of the first 8 years. $48,005.30 $48,332.54 $30,527.46 $31,229.59 b. Calculate the accumulated value of her investment at the end of 11 years. $48,005.30 $48,332.54 $41,945.34 $31,229.59 c. Calculate the amount of interest earned from the investment. $13,132.54 $12,805.30 $12,016.79 $1,115.75
a. I invested $5,000 into an account earning 5% interest compounded monthly and left it there for 5 years. After the 5 years were up I transferred the money from that account into a new account that earned 6% interest compounded quarterly for the next 10 years. How much total money would I have at the end of the 15 years? b. If I had left the $5,000 in the initial account earning 5% compounded monthly how long, to the nearest tenth of a year, would it have taken to get the same total as in part a?
A principal amount of $14,390 is placed in a savings account with an annual interest rate of 4.13% compounded monthly. How much interest does the account earn after 21 years? $19,814.06 $19,865.03 $34,204.06 $34,255.03
Travis saved $120 at the end of every month for 7 years in her bank account that earned 6.90% compounded monthly. a. What is the accumulated value of her savings at the end of the period? $12,718.64 $12,911.77 $54,457.77 $2,831.77 b. What is the interest earned over the period? $2,711.77 $12,911.77 $2,951.77 $2,831.77
What is the accumulated value after 15.50 years of deposits of $500.00 carning interest at 4.00% compounded semi-annually if the deposits are made at the end of each quarter? O42000 O 42500 42590 O none

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