You deposited $150 the first year in an account that earns 12% annual interest. You also deposited $300 and $350 the second and fourth year respectively in that account with the same interest rate. All the deposits happened at the beginning of the years. How much money do get in that account at the end of the fourth year? Check your answer with interest table.

Q: How much would you need to deposit in an account now in order to have $5,000.00 in the account in 13…

A: Simple interest is an interest that is calculated on the initial investment.

Q: For how long will Markus have to make payments of $179 at the end of every year to repay a loan of…

A: Loan amount=$2130Annual payment=$179Interest rate=7%Compounding quarterly.

Q: 7. Assume that today you made an initial deposit in the amount of $16,000 into a savings account…

A: Future value of an initial deposit paying simple interest is calculated using following equation…

Q: you borrowed $1,000 from a bank with 12% annual interest rate. You want to pay off the debt in 4…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: How long would you have to wait for a deposit of $1,625 to earn $34 in interest? Assume that the…

A: Interest = Principal * Rate * Time

Q: Assume you deposit $4,200 at the end of each year into an account paying 10 percent interest. a. How…

A: The fixed periodic regular payments/deposits made at each periodic interval are recognized as…

Q: Alexandr makes 15 equal annual deposits of $1,000 each in a bank account paying 5% interest. How…

A: Future value refers to the anticipated value of an investment or asset at a specific point in the…

Q: Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each…

A: It is a case of the future value of an annuity due where the deposit is done at the beginning of the…

Q: Suppose you have $1700 in your savings account at the end of a certain period of time. You invested…

A: Simple interest doesn't take compounding into consideration.

Q: Kathy's bank account earns interest at a nominal annual interest rate = 5% compounded semi-anually.…

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

Q: 8. On April 1, you opened a savings account at Main Street Savings Bank with a deposit of $817.25.…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: You deposit one dollar into a Chase savings account earning 6% interest. Fifteen years later you…

A: We need to use the concept of time value of money to solve the question. According to the concept of…

Q: Suppose Jorge Otero has set up an annuity due with a certain credit union. At the beginning of each…

A: Future value = Present value ( 1 + rate of interest )Period Future value = Amount deposited * Future…

Q: You plan to deposit $4,000 today, $2,000 in one year and $4,000 in two years into an account earning…

A: Here, Deposit Amount  today (D0) is $4,000 Deposit Amount in One Year (D1) is $2,000 Deposit Amount…

Q: Seven years ago Ruby began depositing $500 at the beginning of each month into an account. The…

A: Step 1 When operating in BGN mode, the PV and FV are as of the first payment's time and the last…

Q: When you buy a certificate of deposit (CD), you are investing your money in an account that earns…

A: The formula used to compute final worth of CD as follows: A=P1+rnnt

Q: Bank with an interest of 12% compounded annually. You can pay off the debt in 4 years by paying $310…

A: Present value:Present value is a financial concept that refers to the current worth of a future sum…

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: Assume that Louisa carried an average balance of $1,000 from her credit card purchases over the past…

A: Interest charges are the amount of cost and charges paid for the amount borrowed either for personal…

Q: You borrowed $5,646 from a bank, which charges 7.8% interest per year. How much interest did you owe…

A: Principal amount (P)= $5,646 Interest rate (R)= 7.8% per year Time period (T)= 1 year

Q: Kaye deposited $8,500 into a savings account today. For how long can $600 be withdrawn from the…

A:

Q: You deposit $ 70,565 in your account today. You make another deposit at t = 1 of $ 51,167 . How much…

A: Time value of money is one of important concept being used in finance. As per this concept, a dollar…

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: Imelda opens a savings account with $12,000, which pays an annual interest rate of 7.8%. If she…

A: Future value of the amount that is invested and also amount of interest accumulated over the period…

Q: James deposited $500 in his bank at 4.5% for 90 days. Use the simple interest formula to calculate…

A: Introduction: In simple interest, interest is paid only on the initial investment amount i.e. no…

Q: you deposit $5,000 in a bank t years ago. Your current account balance is $8,200, and the bank…

A: Given: Particulars Amount Present value(PV) $5,000 Future value(FV) $8,200 Interest rate…