You deposit $15000 in a bank that its interest rate is 6% annual interest compounded quarterly What would the balance be after 12 years. 30652.17 17934.27 none of these answers 55777.52

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Q: What principle should be invested not to ear 100$ simple interest in 5 years at an annual rate of…

A: Simple Interest I=$100Number of years N=5Rate of Interest R=2.5

Q: You deposit $400 each month into an account earning 3% interest compounded monthly. a) How much will…

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Q: a) Jerry decides to invest his $1000 into a compound interest account. The account compounds monthly…

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Q: How much money must you invest at an interest rate of 6% compounded quarterly in order to have $2000…

A: The compound interest can be calculated by the following formula:  A= final amount = $2000 P =…

Q: A grandparent puts $5,000 into a college education fund for a grandchild. If the fund earns 3.75%…

A: Given that: Principal(P) is $5000. The rate of interest(r) is 3.75%. Time(t) is 16 years and n is…

Q: What annual deposit is necessary to have $14,000 in 5 years if all the money is deposited at 1.5%…

A: To find the annual deposit

Q: A deposit of $20,000 is placed in a scholarship fund that earns an annual interest rate of 3.75%…

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Q: How much money should be deposited today in an account that earns 7% compounded quarterly so that it…

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Q: If the final value is $5380 at the end of 5 years and the simple rate of interest is 9%, what is the…

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Q: How much money must be deposited today to become $2050 in 20 years at 6.5% compounded continuously?…

A: We can calculate the required deposit amount as below