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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: Amount Annual Compounding Compounding Account Holder Theodore Logan III Deposited Interest Rate Periods Per Year (M) Periods (Years) Vernell Coles Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens $ 900 12% 94,000 8 9,000 10 121,000 10 29,000 18 15,000 10 (Click on the icon in order to copy its contents into a spreadsheet.) 1 5 12 3 B 8 4 4 2 4 3 3 a. The amount of money in Theodore Logan III's account at the end of 5 years will be (Round to the nearest cent.) (Round to the nearest cent.) b. The amount of money in Vernell Coles' account at the end of 3 year(s) will be $ c. The amount of money in Tina Elliot's account at the end of 8 years will be $. (Round to the nearest cent.) d. The amount of money in Wayne Robinson's account at the end of 4 years will be $ e. The amount of money in Eunice Chung's account at the end of 4 years will be $. f. The amount of money in Kelly Cravens' account at the end of 3 years will be $ S (Round to the nearest cent.) (Round to the nearest cent.) (Round to the nearest cent.) C

(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 Annual Compounding Compounding Account Holder Theodore Logan III Deposited Interest Rate Periods Per Year (M) Periods (Years) Vernell Coles Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens $ 900 12% 94,000 8 9,000 10 121,000 10 29,000 18 15,000 10 (Click on the icon in order to copy its contents into a spreadsheet.) 1 5 12 3 B 8 4 4 2 4 3 3 a. The amount of money in Theodore Logan III's account at the end of 5 years will be (Round to the nearest cent.) (Round to the nearest cent.) b. The amount of money in Vernell Coles' account at the end of 3 year(s) will be $ c. The amount of money in Tina Elliot's account at the end of 8 years will be $. (Round to the nearest cent.) d. The amount of money in Wayne Robinson's account at the end of 4 years will be $ e. The amount of money in Eunice Chung's account at the end of 4 years will be $. f. The amount of money in Kelly Cravens' account at the end of 3 years will be $ S (Round to the nearest cent.) (Round to the nearest cent.) (Round to the nearest cent.) C

Essentials Of Investments
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
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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: Amount Annual Compounding Compounding Account Holder Theodore Logan III Deposited Interest Rate Periods Per Year (M) Periods (Years) Vernell Coles Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens $ 900 12% 94,000 8 9,000 10 121,000 10 29,000 18 15,000 10 (Click on the icon in order to copy its contents into a spreadsheet.) 1 5 12 3 B 8 4 4 2 4 3 3 a. The amount of money in Theodore Logan III's account at the end of 5 years will be (Round to the nearest cent.) (Round to the nearest cent.) b. The amount of money in Vernell Coles' account at the end of 3 year(s) will be $ c. The amount of money in Tina Elliot's account at the end of 8 years will be $. (Round to the nearest cent.) d. The amount of money in Wayne Robinson's account at the end of 4 years will be $ e. The amount of money in Eunice Chung's account at the end of 4 years will be $. f. The amount of money in Kelly Cravens' account at the end of 3 years will be $ S (Round to the nearest cent.) (Round to the nearest cent.) (Round to the nearest cent.) C
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 Annual Compounding Compounding Account Holder Theodore Logan III Deposited Interest Rate Periods Per Year (M) Periods (Years) Vernell Coles Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens $ 900 12% 94,000 8 9,000 10 121,000 10 29,000 18 15,000 10 (Click on the icon in order to copy its contents into a spreadsheet.) 1 5 12 3 B 8 4 4 2 4 3 3 a. The amount of money in Theodore Logan III's account at the end of 5 years will be (Round to the nearest cent.) (Round to the nearest cent.) b. The amount of money in Vernell Coles' account at the end of 3 year(s) will be $ c. The amount of money in Tina Elliot's account at the end of 8 years will be $. (Round to the nearest cent.) d. The amount of money in Wayne Robinson's account at the end of 4 years will be $ e. The amount of money in Eunice Chung's account at the end of 4 years will be $. f. The amount of money in Kelly Cravens' account at the end of 3 years will be $ S (Round to the nearest cent.) (Round to the nearest cent.) (Round to the nearest cent.) C
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