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6
![How much would you have to pay
into an account at the beginning
of every
month
to accumulate
$14,600.00
in
10
years, if interest is
8%
compounded semi-annually?
The payments would have to be
_$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb9a81e89-2c71-430b-b2ab-d050d4f3187b%2F9d46ac78-36a2-48a3-afab-b4e09d474c6a%2Fxumsdjv_processed.jpeg&w=3840&q=75)
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- If you deposit $5000 into an account, how many years will it take for the account to be worth $9350 using (a) 8.25% compounded semi-annually? (b) 8.25% compounded continuously?WhenyoubuyabondforPhP2,000anditpays3%annualinterestfor10years.Howmuchinterest payments would you receive every year?What is the interest earned in a savings account after 12 months on a balance of $7500 if the interest rate is 1.5% APY compounded yearly? interest = $[?] Round your answer to the nearest hundredth.
- Suppose you are depositing an amount today in an account that earns 5.25% interest, compounded quarterly. If your goal is to have $5000 in the account at the end of six years, how much must you deposit in the account today? Round to the nearest dollar. $3507 $3657 $657 $2765How much money would you need to place in an account to have $1,000 10 years from today? Assume the account pays 8.5% and it is compounded monthly. Round to the nearest $1.If you depoist money today in an account that pays 14% annual interest, how long would it take to double your money? Round two decimal places. ______ years
- Suppose you deposit $100,000 in an account today that pays 6% interest, compounded annually. How long does it take before the balance in your account is $500,000?Suppose you borrow $8500 for a term of five years at a simple interest and 8.25% APR. how much is the total (principal plus interest) you must pay back on the loan?In how many years will it take $17596accumulate to $31237 when you deposited in a savings account that earns 3.3 % compounded annually?
- How much would you need to deposit in an account now in order to have $6,000 inthe account in 8 years? Assume the account earns 6% interest compounded monthly.Use the formula A = Pert to find the future value after 20 years of a $7,000 account that earns 8% interest compounded continuously, then compare that to the future value of the same account if interest is compounded annually. Round to the nearest cent. The future value of the account with interest compounded continuously is The future value of the account with interest compounded annually is The account earns $____ (what dollar amount) [more/less] when interest is compounded continuously %24How much money would you need to deposit today at 16.12% annual interest compounded monthly to have $22, 611 in the account after 7 years?