Tom Vu deposited $5,000 in a savings account that paid 8% interest compounded quarterly. What is the effective rate of interest?
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- Tom Vu deposited $5,000 in a savings account... Please need answer the financial accountingRita deposited $8,000 in a savings account that provides for interest at the rate of 16% compounded quarterly.Required:Computethebalanceintheaccountattheendofsevenyears.Need help with this financial accounting question
- James deposited $500 in his bank at 4.5% for 90 days. Use the simple interest formula to calculate the amount of interest James will earn using exact interest. Calculate the future value of the deposit.Aura deposits $10.00 in a bank and fifteen years later deposits $20.00. The interest is credited at a nominal discount rate compounded quarterly for the first 10 years, and at a nominal interest rate of 6% compounded semi - annually thereafter. The accumulated amount in the bank at the end of 30 years is S 100.00. Calculate 'd'.You decide to deposit $103 monthly in a 2.98% annual interest bearing account over the next 8 years. What is the gross amount actually placed in the account?
- vince has just opened an 18-month certificate of deposit on which interest compounds daily. he deposited $4,635 and the effective rate of interest is 4.73%. how much total interest will he earn?.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 yearTlltltlkttktktotltktktk
- Casey deposits $465 into a savings account earning s 3.05% simple interest. How much interest will be earned in 5 months?Pete opens a simple intrest savings account that earns 5% annual interst with an intial deposit of $3,500. What will the balance be in his savings account at the end of 18 months?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. 6.5