Nabil's bank pays 5% interest compounded quarterly. The account balance started out at $4,526. What is the amount in the account after 2 quarters?
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- The Little Red-Haired Girl makes quarterly deposits into an account paying an effective interest rate of 3.5% per quarter. The first depost is $4200, and each subsequent deposit is $200 SMALLER than the previous one. How much is in the account immediately after the 12th depost? Balance $John Smith has a credit card that charges 11% annual interest on the monthly average daily balance for the billing cycle. The current billing cycle has 29 days. For 14 days his balance was $2,536.28. For 7 days the balance was $1,536.28. And for 8 days the balance was $1,807.15. Find the average daily balance. Find the amount of interest. The average daily balance is $ The amount of interest is $ (Round to the nearest cent as needed.) ...A person pays an amount at the beginning of each month and then withdraws half of it in the middle of the month, and his balance at the end of the year is 513.6 dinars, knowing that the interest rate approved for withdrawal and deposit is 12% annually, so the amount that is deposited and withdrawn is??A- 30,60 dinarsB - 90, 45 dinarsC- 80, 40 dinarsD- 100, 50 dinars
- John Smith has a credit card that charges 11% annual interest on the monthly average daily balance for the billing cycle. The current billing cycle has 30 days. For 17 days his balance was $2,536.51. For 7 days the balance was $1,536.51. And for 6 days the balance was $1,895.33. Find the average daily balance. Find the amount of interest.A bank customer saved 5000 PLN on the savings account. The deposit lasted for 2 years. For the first 6 months continuous interest rate method was used with the 4,5% nominal interest rate, for the next 9 months compound interest rate method was used, and during the last months simple interest rate method was used also with 4,5% nominal interest rate (after each change in the interest method, interest was added to the account balance). Please calculate what was the nominal interest rate in the second period if the profit from the deposit was 414,70 PLN after the whole 2 years period?Aubrey Daniel’s savings account has a principal of $5,725. It earns 4% interest compounded quarterly for 3 years. For the period indicated, calculate a) the amount and b) the compound interest.
- A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits 1600.00 each on 1st January and 1st July of a year. At the end of the, the amount he would have gained by way of interest is:Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each month, $130 is electronically debited from his checking account and placed into a savings account earning 6% interest compounded monthly. What is the value (in $) of Jorge's account after 16 months? (Round your answer to the nearest cent.)Last month, Kaitlin's average daily balance on her credit card was $1,967.44. The annual interest rate on that credit card is 16.77%. The minimum payment on that card is the interest charge ( /= B - n) plus 3% of the ending balance or $25, which 365 ever is larger. If there were 31 days in that month and the ending balance was $2,581.05, what would be the balance on her credit card after she made that payment for that month? Round your answer to the nearest penny. Input the number. Do not input the dollar sign. Do not use a comma. Example: 1289.65
- Last month, Kaitlin's average daily balance on her credit card was $1,927.72. The annual interest rate on that credit card is 18.36%. The minimum payment on that card is the interest charge ( 365 n) plus 3% of the ending balance or $25, which ever is larger. If there were 31 days in that month and the ending balance was $2,834.4, what would be the balance on her credit card after she made that payment for that month? Round your answer to the nearest penny. Input the number. Do not input the dollar sign. Do not use a comma. Example: 1289.65Use the following information to answer the question that follows: 5 years ago Mayra began depositing money into a bank account every quarter that earns 6% compounded quarterly. The account now has $6000 in it. How much did Mayra deposit into the account quarterly? For the question above, what is the value of r ? r=0.6 r=0.015 r=6 r=24 r=0.06First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually. If you made a deposit of $56,000 in each bank, how much more money would you earn from your Second City Bank account at the end of 9 years/ Whats the difference in accounts?