Suppose you deposited $41,000 in a bank account that pays 5.75% with daily compounding based on a 360-day year. How much would be in the account after 8 months, assuming each month has 30 days?   a. $42,598.28     b. $42,571.67     c. $43,426.30     d. $42,793.66     e. $42,602.05

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: You just deposited $1,500 in a bank account that pays a 6.0% nominal annual interest rate,…

A: The objective of this question is to calculate the future value of a series of deposits in a bank…

Q: future value of your money in 17 years.

A: Future Values: Future value is the value that will be increased or decreased after a particular…

Q: You deposited $5,000 four years ago into a bank account.  Two years ago, you deposited an additional…

A: The future of money is the accumulation of the present amount. It determines with the help of a…

Q: client deposits $5 million in a savings account that pays 5 percent per year compounded quarterly.…

A: The given problem can be solved using FV function in excel. FV function computes amount value in…

Q: Suppose you invest $18,860.00 into an account earning an interest rate of 2.426% compounded…

A: The worth of an asset today at some point in the future based on an estimated rate of growth is…

Q: You wish to accumulate $60,000.  You make 14 quarterly deposits into a savings account with an…

A: Amount required (F) = $60,000Number of deposits (n) = 14Quarterly interest rate (r) = 0.12Amount of…

Q: If you deposit $10,000 dollars into a savings account, what interest would you need to be earning to…

A: Working note:

Q: You invest 185 000 TL to a bank deposit account at gross rate of %24.5 for 65 days. If the…

A:

Q: You put $280 in the bank for 5 years at 8%. A. If interest is added at the end of the year, how…

A: Future value is directly proportional to the interest rate. If the interest rate is higher the…

Q: You made an investment of $8,500 into an account that paid you an annual interest rate of 4.2…

A: Given information: Initial value of investment (V0) = $8,500 Annual interest rate for first "eight"…

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: 1.-What is the size of 60 monthly payments and 5 annuities that result from the purchase of land…

A: As per the honor code, we’ll answer only one question at a time, we have answered the first question…

Q: Suppose a bank pays you 2% annual interest compounded quarterly. You deposited $2,350. How much will…

A: Computation:

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: Suppose you will save P 3,000 at the end of every three months in a bank that pays 3% compounded…

A: Future value is the value of an asset or a current asset at a future date based on an assumed rate…

Q: You would like to earn simple-interest $1 800 from a term deposit at 4.25% in 8 months. Calculate…

A: Simple interest is a method of interest calculation where the principal amount remains the same for…

Q: If you earn 8% per year on your bank account, how long will it take an account with $100 to double…

A: We use the formula:A=P(1+r/100)^nwhereA=future valueP=present valuer=rate of interestn=time period.

Q: Your goal is to accumulate $60,000 in seven years' time.  What monthly deposit must you make into a…

A: Interest rate per month = 12%/12 = 1% per month Time period = 7 years * 12 = 84

Q: Suppose you deposit $2606.00 into an account today. In 7.00 years the account is worth $3969. The…

A: Present Value = pv = $2606Time = t = 7 YearsFuture Value = fv = $3969

Q: Find the equivalent present worth of the cash receipts in the accompanying diagram, where i = 8%…

A: We know that the formula to calculate the present value is I/(1+i)n, where I is the cash flow that…

Q: 1. Assuming that you deposited $100 today in a bank at 6 percent annual interest rate. After four…

A: The objective of the question is to calculate the future value of a single sum of money invested…

Q: How much would your investment be worth if you deposited $5,555.55 into a bank that paid compound…

A: Now, Principal amount invested $ 5555.55 for 10 years at 4%  compund interest.Therefore, the formula…

Q: Suppose that ​$290,000.00 is owed on a house. The monthly payment for principal and interest at 8.0%…

A: The amount paid by the borrower on the amount owed is regarded as interest rate.

Q: A man deposited P5,000 in a bank at a rate of 10% per annum for 7months and 25days. Find the…

A: Simple interest is the amount of interest which is calculated on principle amount only by…