Suntech Distributors, Inc., deposits $4,000 at the beginning of each 3-month period for 7 years in an account paying 6% interest compounded quarterly. Round your answers to the nearest cent. a. How much will be in the account at the end of the 7-year period? $ b. What is the total amount of interest earned in this account?

Q: Suppose an individual makes an initial investment of $2,400 in an account that earns 6.6%,…

A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

Q: Antonio borrows $4,218 from the bank for 7 years at an annual interest rate of 9.02% compounded…

A: Interest rates are nominal and effective and both are different.Nominal interest rate is the stated…

Q: Deposits are made at the end of years 1 through 7 into an account paying 6% per year interest. The…

A: Future value  is the worth of any asset or any sum of money at a future date when such asset or…

Q: An investor makes a 15 year deposit of $57,632. The bank is paying an interest rate of 11% per year,…

A: The value of deposit is $57,632. The maturity period is 15 years. The annual interest rate is 11%.…

Q: Your bank pays 8% interest, compounded semiannually. Use Table 12-1 to find the future value (in $)…

A: Annual interest rate = 8% Semi annual interest rate (r) = 8%/2 = 4% Semi annual deposit (P) = $ 900…

Q: An investor deposits $500 into each of three accounts. The first account earns simple interest at an…

A: The accumulated amount of annuity can be found by using the formula function for future value in the…

Q: Starting three years from today, you make equal annual deposits of $5,000 into an account which…

A: Effective annual rate is calculated using the formula: EAR=1+rmm-1=1+12%22-1=1.062-1=12.36%

Q: A depositor opens a new savings account with 8,000 at 8% compounded semiannually. At the beginning…

A: The concept of time value of money will be applied here. We have to find the amount at the end of…

Q: How much interest (in dollars) is earned in 9 years on $8,500 deposited in an account paying 5%…

A: Future value (FV) refers to the amount of money that an investment will be worth at a future point…

Q: Mark Welsch deposits $7,000 in an account that earns interest at an annual rate of 12%, compounded…

A: To calculate how much money will be in Mark Welsch's account at the end of 1 year with an initial…

Q: Assume an individual is wanting to determine the monthly deposits if after 1 year based on monthly…

A: Future Value = 12,336.42 6% Continuous Compounding

Q: Use Table 12-1 to solve.   Suppose a certain manufacturer deposits $7,000 at the beginning of each 3…

A: The question is based on the concept of Annuity.

Q: An account pays interest at 1.5% per month. If you deposit $5000 at the beginning of this year, how…

A: Future Value = Present Value * (1+rate)^n Where, Present value =$5000 rate = 1.5% or 0.015 n = no of…

Q: A payment of $3,000 was made into an account at the end of every 3 months for 12 years. a. If the…

A: given, A= $3000 n = 6 years r=4% m= 4 ( quarterly compounding)

Q: Quarterly compounding implies that interest is compounded _  times per year.   You have deposited…

A: Compound = Semiannually = 2Present Value = pv = $96,780Interest rate = r = 8 / 2 = 4%Time = t = 8 *…

Q: Mark Welsch deposits $7,900 in an a earned interest must remain in the ac years? (PV of $1, FV of…

A: Given: Deposit = $7,900 Interest rate = 12% Years = 2

Q: An individual deposits $1,397 at the end of each year for 8 years in an account that pays 8.2%…

A: When interest is compounded quarterly and deposits are made quarterly, the future value of an…

Q: Suppose that you deposited $1,000 in a savings account at the beginning of a year where the annual…

A: Deposit = $1,000 Annual interest rate = 18% Compounding = monthly

Q: Suppose that you had deposited $125 in a bank account for each of the last 5 years. What annual…

A: Amount deposited per year is $125 Time period is 5 years Amount in account is $758.92 To Find:…

Q: What amount needs to be deposited into an account earning 4.3% interest compounded annually to have…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: Beginning in January, a person plans to deposit $1 at the end of each month into an account earning…

A: The concept of time value of money will be applied here. The deposits of $1 in each month is an…

Q: How much interest (in dollars) is earned in 7 years on $8,800 deposited in an account paying 7%…

A: To solve this problem, we can use the formula for compound interest: A = P(1 + r/n)^(nt) where: A…

Q: oday Bill invested $5400 in an account that pays an annual interest rate of 2.6%, compounded…

A: Given information, Principal (P) = $5,400Annual interest rate (r) = 2.6% or 0.026Compounding…

Q: You have deposited $1,500 in an account that promises to pay 8% compounded quarterly for the next…

A: The objective of this question is to calculate the future value of an investment with quarterly…

Q: You deposit $3,500 at the end of the year (k = 0) into an account that pays interest at a rate of 7%…

A: Initial deposit = $3,500Interest rate in 1st year - 7% (Compounded annually)After 1 year, interest…

Q: Find the future value of a deposit of $15000 at 6% interest compounded monthly for 11 years.

A: As per the guidelines if multiple questions are asked at once, then the solution for the first…

Q: Bank 1 is offering interest rate of 8.4%(compounds semiannually) on fixed deposits. Bank2 is…

A: The effective annual rate is the actual return earned over a year after accounting for the number of…

Q: A regular deposit of $120 is made at the beginning of each year for 20 years. Simple interest is…

A: Simple interest is the interest paid or computed only on the principal amount of money. It odes not…

Q: ocasionally a savings account may actually pay interest compounded continuously. For each deposit,…

A: A method of calculating interest or investment growth known as continuous compounding involves…

Q: The company sells products to a customer for $60,000 and will receive $15,000 at the end of the…

A: Time value of money is the concept that states that the value of money have more worth than the same…

Q: Your bank pays 4% interest, compounded semiannually. Use Table 12-1 to find the future value (in $)…

A: Future value of annuity due factor (r, n) = Future value of ordinary annuity factor (r, n) * (1+r) r…

Q: Q1) A man deposited $10,000 in a bank saving account that pays X % / year compounded monthly. He…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Please do not answer this question in excel thank you in advance. A deposit of $2,500 is made into…

A: Future value is the value of an asset which grow to a higher value in future. It helps to make…

Q: Suppose you invest $1,000.00 in an account with an annual interest rate of 6% compounded monthly…

A: To complete this table we have add simple interest on ending balance and then add deposit balance to…

Q: If, starting one year from today, 12 equal annual deposits of $2,500 are made into an account…

A: Annual deposit (P) = $ 2500 Annual interest rate (R) = 0% Number of annual deposit (N) = 12

Q: Assume you make monthly deposits of $3,000 now into an account that pays 12% per year, compounded…

A: Since you have asked multiple questions, we will solve the first question for you. Please ask the…

Q: A payment of $250 was made at the beginning of each month for 7 years into a savings account. After…

A: It is a case of calculation of interest earned on savings done for a period of time. It uses the…

Q: Find the balance of the account earning compound interest annually $7000 at 2% for 4 years. S7000 at…

A: Solution:- Future amount means the amount after the effect of compounding after specified years.…

Q: You deposit $400 in an account earning 8% coumpound interest for 2 years. Find the future value and…

A: Given That: P=$400 r=0.08 t=2 years

Q: You deposit $1,000 at the end of the year (k = 0) into an account that pays interest at a rate of 6%…

A: Compound interest also referred to as interest on interest, reinvests the interest earned in a…

Q: You want to receive ​$275 at the end of every three months for 5 years. Interest is 5.7% compounded…

A: Present value refers to the current value of an asset present at some future date. It is helpful…

Q: You deposit $1,000 in the bank at an annual interest rate of 8%. Interest is compounded once per…

A: Present Value, PV = $1,000 Interest rate per period, r = 8% Number of compounding periods, n = 1 The…