(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: Amount Compounding Account Holder Annual Theodore Logan III $ Vernell Coles Deposited 900 94,000 Interest Rate Periods Per Year (M) Compounding Periods (Years) 18% 3 5 12 1 Tina Elliot Wayne Robinson 8,000 12 12 120,000 8 2 Eunice Chung Kelly Cravens 28,000 18 4 5 14,000 8 8 3 (Click on the icon in order to copy its contents into a spreadsheet)
(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: Amount Compounding Account Holder Annual Theodore Logan III $ Vernell Coles Deposited 900 94,000 Interest Rate Periods Per Year (M) Compounding Periods (Years) 18% 3 5 12 1 Tina Elliot Wayne Robinson 8,000 12 12 120,000 8 2 Eunice Chung Kelly Cravens 28,000 18 4 5 14,000 8 8 3 (Click on the icon in order to copy its contents into a spreadsheet)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Need the amounts of each person for the given period for their deposits period
Transcribed Image Text:(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:
Amount
Compounding
Account Holder
Annual
Theodore Logan III
$
Vernell Coles
Deposited
900
94,000
Interest Rate Periods Per Year (M)
Compounding
Periods (Years)
18%
3
5
12
1
Tina Elliot
Wayne Robinson
8,000
12
12
120,000
8
2
Eunice Chung
Kelly Cravens
28,000
18
4
5
14,000
8
8
3
(Click on the icon in order to copy its contents into a spreadsheet)
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