Sarah deposited $1,250 into a savings account 4 years ago that earns 2% annual interest, compounded quarterly. What is the account balance today?
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- Sandy just received her annual bank statement. Exactly one year ago, she deposited $10,000 in a savings account. Today, her balance is $10,509.45. Sandy's savings account interest is compounded quarterly. Using simple interest as a guideline, Sandy received an annualized interest rate of_percent. a. 5, b. 5.5, c. 6, d. 6.5At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8% compounded annually. How much is in the account today? How much would be in the account if the deposits were made at the beginning of each year (PMT Type) than at the end of each year? (Use Future Value of an AnnuityYolanda deposited $1,800 at the end of each six months for 2 years in a savings account. If the account paid 4% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.) $
- Rita deposited $8,000 in a savings account that provides for interest at the rate of 16% compounded quarterly.Required:Computethebalanceintheaccountattheendofsevenyears.Jennifer deposited $54,000 at Bank of America at 20% interest compounded quarterly. a) What is the effective rate (APY)? b) What will Jennifer’s balance be in a year? 1)APY (rounded to nearest tenth) 2)Balance in one yearKathy's bank account earns interest at a nominal annual interest rate = 5% compounded semi-anually. There is a starting balance of $2500 in the account and a deposit of $800 is made at the END of every year. How many years until the balance in her account equals $25,000?
- Heidi deposits $8,000 in a savings account that earns 4.5% interest, compounded quarterly. How much interest did she earn in 5 years? Round to the nearest cent.Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. $95,037.72$103,940.74 $112,256.00$113,556.00cecilia invested $5000 in an account four years ago. Today her account has a balance of $6200. Given that her account offered quarterly compounding of interest, the APR on this account is?
- Yolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the account paid 8% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.) qu Need Help? Read It Watch It Master ItEight years after opening her savings account, Macy had $7,880 in the account which earns annual simple interest. If Macy started with $5,000 in her account and did not make any additional deposits or withdrawals, what was the approximate annual interest rate on the savings account? 7.2% 8% 4.5% 19.7%Cathy makes a single deposit into an account earning 2.5% compounded monthly. After five years,, the account contains $3,057.46. How much did she deposit? Show formula and step.