(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Account Holder Amount Deposited Annual Interest Rate Periods Per Year (M) Theodore Logan III $ 900 18% Vernell Coles 96,000 12 Tina Elliot 9,000 8 Wayne Robinson 120.000 8 Eunice Chung Kelly Cravens 29,000 16 13,000 12 Compounding Compounding Periods (Years) 1 5 3 2 12 4 6 5 4 4 2 4 (Click on the foon in order to copy its contents into a spreadsheet) a. The amount of money in Theodore Logan it's account at the end of 5 years will be (Round to the nearest cent.)

(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Account Holder Amount Deposited Annual Interest Rate Periods Per Year (M) Theodore Logan III $ 900 18% Vernell Coles 96,000 12 Tina Elliot 9,000 8 Wayne Robinson 120.000 8 Eunice Chung Kelly Cravens 29,000 16 13,000 12 Compounding Compounding Periods (Years) 1 5 3 2 12 4 6 5 4 4 2 4 (Click on the foon in order to copy its contents into a spreadsheet) a. The amount of money in Theodore Logan it's account at the end of 5 years will be (Round to the nearest cent.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 36P

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(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Compounding Periods Per Year (M) Compounding Periods (Years) 3 6 4 2 Annual Interest Rate 16% 10 12 121,000 12 32,000 18 Kelly Cravens 13,000 10 (Click on the icon in order to copy its contents into a spreadsheet.) Account Holder Theodore Logan III Vernell Coles Tina Elliot Wayne Robinson Eunice Chung 2 x 12 W S a. The amount of money in Theodore Logan IIl's account at the end of 6 years will be $. (Round to the nearest cent.) b. The amount of money in Vemell Coles' account at the end of 2 year(s) will be $ (Round to the nearest cent.) c. The amount of money in Tina Elliot's account at the end of 5 years will be $. (Round to the nearest cent.) 7 d. The amount of money in Wayne Robinson's account at the end of 5 years will be $ (Round to the nearest cent.) e. The amount of money in Eunice Chung's…
5.5: Calculating compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Account Holder Amount Deposited Annuel Interest Rate Compounding Compounding Periods per Year (m) Periods (years) Theodore Logan III $1,000 10% 1 10 Vernell Coles 95,000 12 12 1 Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens 8,000 12 6 2 120,000 8 4 2 30,000 10 15,000 12 23 4 3 3
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ques 3
Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period USE EXCEL TO WORK THIS OUT AND SHOW THE FORMULA!
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