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- Jane deposits $5,000 in a bank account that earns 6% interest compounded semi-annually. How much money will she have after 10 years?How long will it take GH¢2,000 to accumulate GH¢800 interest at 10% compounded quarterly?Does the compounding increases the amount of interest paid over a year atthe same nominal interest rate?
- 9. Accumulate $ 300 for nine years at 6% compounded quarterly. What is the compound interest earned?To have a total of $10,000 after 8 years, what principal do you have to deposit in a 4.5 percent saving account compounded monthly?The united Bank advertises 9.5% account that yields 9.84% annually. Find how often the interest is compounded. Select one: a. Annually b. Bimonthly c. Quarterly d. Monthly
- An account has a nominator rate of 6.5%. Find me effective annual yield,round to the nearest hundred percent, with quarterly compounding, monthly compounding, and a daily company. How does changing the compound period affect the effective annual yield?Chris makes a deposit of $500 into his savings account at the beginning of each year for the next 20 years. If the account earns 5% interest rate per year compounded annually, what will be the future value at the end of 20 years?Need to calculate.You deposit $200 each month into an account earning 5% interest compounded monthly. a) How much will you have in the account in 15 years? $ b) How much total money will you put into the account? $ c) How much total interest will you earn? $
- If you borrowed $24,000 at 12% annual interest. You agreed to repay the loan with five equal annual payments. How much of the total amount repaid is interest? How much of the third annual payment is interest, and how much principal is there? If you decided to pay off your loan after the third payment, how much will you pay?Accumulate P3, 000 for 9 years at 6% compounded quarterly? What is the compound interest earned?Rafael invested $2,000 in a business that yields an annual interest rate of 10% compounded continuously. How much would he get. approximately at the end of 5 years from his investment?