Hi there, a Bartleby tutor just helped me answer this question but it was monthly compounding. I now need help with the same question but weekly compounding this time. 4. Suppose our savings account ($937.33) pays us compound interest with weekly compounding. (Interest rate is 8.24%) A. How much savings will we have in 2 years? b. How much total interest did we earn? c. How much does our money grow by each year as a percent? d. What is the APY (annual percentage yield)?

Hi there, a Bartleby tutor just helped me answer this question but it was monthly compounding. I now need help with the same question but weekly compounding this time. 4. Suppose our savings account ($937.33) pays us compound interest with weekly compounding. (Interest rate is 8.24%) A. How much savings will we have in 2 years? b. How much total interest did we earn? c. How much does our money grow by each year as a percent? d. What is the APY (annual percentage yield)?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PA: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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I SAVED, I PROFIT! Situation 1: Suppose you started a savings account when you were 10 years old with P 500.00, but you have not added any amount to it thereafter. a. Creatively make charts showing the patterns which would lead to the formula in computing your savings account now using 3% simple interest and 3% compound interest quarterly. The chart must contain the important details like the table below; Simple Interest t Principa Annual Balance at End of Interest the Year 1 2 Compound Interest t Principal Annual Balance at End of & Interest Interest the Year 1 2 the difference the b. Describe between created. 3 charts you Which do you think best interest when you save money? Situation 2: You started with the same amount at 10 years old, but this time you add P 100.00 a month until you turn 18 years old. a. How much money do you have now assuming it still gets 3% interest? b. How much money did you actually put on it? c. How much was the interest earned?
Suppose you deposit $10 every week into an account that earns 4% interest compounded weekly. How much money (to the nearest cent) will you have in the account after 5 years? Summarize the information provided, stating the interest rate in a decimal form. d = r = N = k = Solve the problem and give your answer here
4. You want able to withdraw 15,000 each month for 15 years. your account earns 3 1/4% interest. a. how much do you need in your account at the beginning? b. how much total money will you pull out of the account? c. How much of that money is interest?
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Please answer specially part b. Answer of both parts is more preferable. Thanks
would you mind helping me here please?
17)Would love the help.
Can i get help with solving the attached?
Suppose you borrowed $1,000 from the bank and the rate of interest was 5%. What would the simple interest be if the amount is borrowed for 1 year? Suppose you deposit $4,000 at a bank at a simple interest rate of 7.5% per year. How much money will you have in the bank after 10 years? Question 2: The following questions are related to Compounded Interest: You deposit $2000 in an account earning 3% interest compounded monthly. How much will you have in the account in 20 years? How much interest will you earn? How much would you need to deposit in an account now in order to have $6,000 in the account in 8 years? Assume the account earns 6% interest compounded monthly.
You want to be able to withdraw $50,000 each year for 30 years. Your account earns 5% interest. Interest is compounded annually, not monthly. A) How much do you need in your account at the beginning? Answer = $ B) How much total money will you pull out of the account? Answer = $ C) How much of that money is interest? Answer = $
Can you solve this accounting question?
Simple Interest: Solve the following