You invest $2,400 at 5% simple interest for 9 months. What will be the ending account balance to the nearest penny?
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- You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the fifth year. B. Use the future value of $1 table in Appendix B and verity that your answer is correct.You plan on depositing $370 every month for the next 11 years in an account that pays a 0.8% interest every month. How much money will you have after the planned 11 years? Assume the account starts with a balance of $0.
- Suppose you deposit $1,500.00 into and account 7.00 years from today into an account that earns 14.00%. How much will the account be worth 14.00 years from today?Suppose you deposit $1,000 today in an account that pays 5% interest at the end of each year. If you withdraw one-half of the year's interest at the end of each year, what is the balance in your account after your third withdrawal?Assume you make a single deposit of $1000 into a savings account that pays interest at 0.5% per month. If you want to know how much the accountwill be worth in 5 years, the only values you can use for i and n area. Effective i per month and n = 60b. Effective i per quarter and n = 30c. Effective i per semiannual period and n = 10d. Either (a) or (c)
- You deposit $2,400 each year in an account bearing 4.2% annual interest, with the first deposit made upon opening the account. What will your balance be after 11 total deposits, that is, after 10 years? (Round your answer to the nearest cent; no labels please!) $4You deposit $700 in an account paying 7.3% simple interest. Find the future value of the investment after 4 years. (Round your answer to two decimal places.Find the interest rates earned on each of the following. Round your answers to the nearest whole number. You borrow $680 and promise to pay back $782 at the end of 1 year. %
- If you want an account balance of $10,000 after 5 years, what amount do you need to invest initially into an account that earns an APR of 3% with quarterly compounding?You deposit $400 at the end of each month into an account earning 3.7% interest compounded monthly. a) How much will you have in the account in 30 years? P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $ (round to the nearest cent) b) How much will be the total amount of money deposited into the account after 30 years? Total Deposited = $ (enter a positive value) c) How much total interest will you earn? Total Interest= $ (enter a positive value, and round to the nearest cent) ( Explain all point of question with proper step by step Answer. )How much would you need to deposit in an account each month in order to have $10,000 in the account in 8 years? Assume the account earns 4.3% interest.Round your answer to the nearest cent as needed.