Find the compound amount for the deposit and the amount of interest earned. $3000 at 3% compounded annually for 4 years ... The compound amount after 4 years is S[ (Do not round until the final answer. Then round to the nearest cent as needed.) The amount of interest earned is S (Do not round until the final answer. Then round to the nearest cent as needed.)
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- Find the compound amount and the amount of interest earned by the deposit below. $9,000 at 7.79% compounded continuously for 3 years. What is the compound amount? (Do not round until the final answer. Then round to the nearest cent.) What is the interest earned? (Do not round until the final answer. Then round to the nearest cent.)Find the compound amount for the deposit and the amount of interest earned. $6100 at 6.1% compounded quarterly for 8 years The compound amount after 8 years is $ (Do not round until the final answer. Then round to the nearest cent as needed.) The amount of interest earned is $ (Do not round until the final answer. Then round to the nearest cent as needed.)Find the compound amount for the deposit and the amount of interest earned. $8800 at 4% compounded quarterly for 3 years .... The compound amount after 3 yeara is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
- Find the interest rate for a $8500 deposit accumulating to $12,681, compounded annually for 7 years. a- The interest rate is %. (Do not round until the final answer. Then round to two decimal places as needed.) b- The amount of interest earned is $. (Do not round until the final answer. Then round to the nearest cent as needed.)a. Use the appropriate formula to determine the periodic deposit. b. How much of the financial goal comes from deposits and how much comes from interest? Periodic Deposit Rate Time Financial Goal $? at the end of each year 3% compounded annually 18 years $140,000 a.The periodic deposit is $_______. (Do not round until the final answer. Then round up to the nearest dollar asneeded.)1. Determine the interest rate earned on a $4,444 deposit when $4789 is paid back in one year. (Round your answer to 2 decimal places.) 2. You decide to make a deposit of $500 today and earns the following interest rates:7 percent in the first year.6 percent in the second year.5 percent in the third year. What would be the third year future value? (Round your answer to 2 decimal places.) 3. How many years will it take $1.5 million to grow to $3.50 million with an annual interest rate of 6.25 percent? (Do not round intermediate calculations.) 4. Jeff realizes that he has charged too much on his credit card and has racked up $8,200 in debt. If he can pay $325 each month and the card charges 19 percent APR (compounded monthly), how long (in months) will it take him to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
- consider a $5,600 deposit earning 10 percent interest per year for 10 years. What is the future value? How much total interest is earned on the original deposit? How much is interest earned on interest? (do not round intermediate calculations. Round your answer to 2 decimal places.)Find the future value of each deposit if the account pays (a) simple interest, and (b) interest compounded annually. $2100 at 9% for 8 years (a) The future value of an account that pays simple interest is $3612.00 (Type an integer or decimal rounded to the nearest cent as needed.) (b) The future value of an account that pays interest compounded annually is $ (Type an integer or decimal rounded to the nearest cent as needed.)Assume you deposit $4,400 at the end of each year into an account paying 10.5 percent interest. a. How much money will you have in the account in 24 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. How much will you have if you make deposits for 48 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
- Assume you deposit $5,700 at the end of each year into an account paying 11. interest. a. How much money will you have in the account in 19 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g b. How much will you have if you make deposits for 38 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g а. Future value $ 324,555.08 b. Future value $ 2,462,818.38Find the compound amount for the deposit and the amount of interest earned. $6700 at 3% compounded quarterly for 8 years The compound amount after 8 years is $ (Do not round until the final answer. Then round to the nearest cent as needed.)To find out the balance in your account just after you make your last deposit whereby you will deposit $400 at the end of each 6 months for the next 5 years at a nominal rate of 12% p.a. compounded semi- annually, you can also apply which of the following formula to solve for the accumulated amount manually: Select one: O a. FV= PV(1+i)" FV = PV(1+i)" O b. PVn = PMT[1-(1+ i)*"] /i 1-(1+1) PV = PMT| FVn = PMT[(1+ i)" -1] / i (1+i)"-1 FV = PMT %3D