Marius opened a savings account. The sequence {200, 208, 216.30, 225, …} describes the amount of interest he earns each year his account is active. If this pattern continues, how much total interest will Marius have earned by the 30th year the account is active? A. S1.04=1.04(1-1.04^n)/1-1.04 B.S30=200(1-1.04^n)/1-1.04 C. S200=200(1-1.04^200 1)/1-1.04 D. S30=1.04(1-200^n-1)/1-200

Marius opened a savings account. The sequence {200, 208, 216.30, 225, …} describes the amount of interest he earns each year his account is active. If this pattern continues, how much total interest will Marius have earned by the 30th year the account is active? A. S1.04=1.04(1-1.04^n)/1-1.04 B.S30=200(1-1.04^n)/1-1.04 C. S200=200(1-1.04^200 1)/1-1.04 D. S30=1.04(1-200^n-1)/1-200

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4MC: Refer to the present value table information on the previous page. What amount should Brett have in...

See similar textbooks

Similar questions

Give typing answer with explanation and conclusion
Matty deposits $1,300.00 into a Savings Account at their bank. The annual compound interest rate 2%. How much interest did they earn after after 10 years? Enter answer in format: $ 00.00 Question 2 Suzy deposits $2,400.00 into a Savings Account at their bank. The annual compound interest rate 2.5%. How much interest did she earn after after 15 years? Enter answer in format: $ 00.00
You have invested money in a savings account that pays a fixed monthly interest on the account balance. The following table shows the account balance over the first 5 months. Time (in months) Savings balance 0 $1350.00 1 $1367.55 2 $1385.33 3 $1403.34 4 $1421.58 5 $1440.06 Find how long it takes for your money to double in value. a) 4.47 yearsb) 53.66yearsc) 52.97 yearsd) 23.67 years
10) the math of interest. please indicate if you are unsure or totally sure about the answer
Susie opens a simple interest checking account. After 6 months, her account grew from P5,000 to P5062.50. What is the annual interest rate on her account?
Starting today, Jamie deposits $100 in a savings account at the beginning of each month. If the account earns 6 percent annually, what will the account value be after 6 years? a) 8,640.89 b) $8,684.09 c) $739.38 d) $697.53 Hide question 33 feedback Correct!
A person deposited an amount of 1000 dinars in a savings account, what is the accumulated amount in that account after 6 years if the interest rate is 16%, paid once every six months, and four times annually???
8. On April 1, you opened a savings account at Main Street Savings Bank with a deposit of $817.25. At the end of October the interest was computed at an annual rate of 6% and added to the balance in your account.. a. How much simple interest did your money earn? b. What was your new balance?
Please help
A guy deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.09 per annum. Determine the future worth of the deposit?
Suppose you invest $103 nin a bank account, and five years later it has grown to $137.91. a. What APR did you receive, if the interest was compounded semiannually? b. What APR did you receive if the interest was compounded monthly?
Your grandfather put some money into an account for you on the day you were born. You are now 18 years old and are allowed to withdraw the money for the first time. The account currently has $4,497 in it and pays an interest rate of 6%. a. How much money would be in the account if you left the money there until your 25th b. What if you left the money until your 65th birthday? c. How much money did your grandfather originally put into the account? birthday?