If $10,000 is invested in a savings account at an interest rate of 6% per year, find the amount in the account after 6 years if interest is compounded annually.
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6 years if interest is compounded annually? General accounting
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- You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years. Which table will help you determine the value of your account at the end of 12 years? A. future value of one dollar ($1) B. present value of one dollar ($1) C. future value of an ordinary annuity D. present value of an ordinary annuityIf Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.
- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?You deposit $10,000 in an account that pays 4.5% interest compounded quarterly. Find the future value after one year.Calculate the initial amount that would be in a savings account at the beginning of 6 years, given a final amount of 256 dollars and an interest rate of 3.14 percent compounded annually. Round to the nearest dollar.
- Calculate the dollar amount that would be in a savings account at the end of 5 years, given an initial amount of 701 dollars and an interest rate of 2.76 percent compounded monthly. Round to the nearest dollar.Suppose that $500 is deposited at the end of every quarter for 6 years in an account that pays 8% compounded quarterly. What is the interest rate per period? Find the future value of the annuity.How much will accumulate in an account with an initial deposit of $100, and which earns 10% interest compounded quarterly for three years? Round to the nearest cent and show your work.
