Moxie Fox deposited $30,000 in a savings account at 6% interest compounded semiannually. At the beginning of year 4, M eposits an additional $60,000 at 6% interest compounded semiannually. At the end of six years, what is the balance in Mo: account? (Round your answer to the nearest cent.)
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- Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)Jain Enterprises honors a short-term note payable. Principal on the note is $425,000, with an annual interest rate of 3.5%, due in 6 months. What journal entry is created when Jain honors the note?70252Fwebapps%252Fportal%252Fframeset.jsp%253Ftab_tab_gr... Sam Monte deposits $21,500 into Legal Bank, which pays 6% interest that is compounded semiannually. Using the table in the handbook, what will Sam have in his account at the end of six years? Multiple Choice $30,654.70 $30,456.07 $29,760.30 () $29,670.03 None of these vi 7:13 Tote
- A bank customer borrows X at an annual effective rate of 12.5% and makes level payments at the end of each year for n years. (i) The interest portion of the final payment is 153.86. (ii) The total principal repaid as of time (n − 1) is 6009.12. (iii) The principal repaid in the first payment is Y. Calculate Y. OA. 500 OB. 470 O C. 480 O D. 490 OE. 510Calculator sequence (1+(i÷365))y× n x P=A A. On April 13th Thomas Ash deposited $2600 in a passbook savings account at 3.5% interest compounded daily what is the compound amount in $ of his account on August 5th? $ B. Using daily compounding calculate the compound amount in $ of a $6000 investment for each of the 3 Cd's. the 1st national bank is offering a 5 year CD 4% interest.....$ the 2nd national bank is offering a 5 year CD at 3% interest....$ the 3rd national bank has a 5 year CD at 5.5% interest .....$A deposit $400 today in an account paying 7% per year. What would be the balance in your account after 6 years? O A. $2861 B. $3065 O c. $600 O D. $568
- 18.How much amount should an investor deposit in an account earning a continuously compounded interest rate of 8% for a period of 5 years so as to earn $2,238?A. $1500.B. $1523. C. $1541. Use excel.Assuming a 360-day year, the interest charged by the bank, at the rate of 6%, on a 90-day, discounted note payable of $100,000 is O $3,000 A Ob. $6,000 Oc. $1,500 Od $50000:52 X 32 KB/S bartleby.com bartleby SM Q SEARCH & ASK CHAT Vx MAΤΗ ! Business » Finance » Q&A Library » A bank pays 6% ... Question A bank pays 6% interest, compounded semiannually. Use the appropriate formula to find how much should be deposited (in $) now to yield an annuity payment of $900 at the beginning of each six months, for 14 years. (Round your answer to the nearest cent.) $ Expert Solution Want to see the full answer? Check out a sample Q&A here II
- Calculate the interest on a 270−day, 11% note for $50,000. (Use a 365−day year. Do not round intermediate calculations, and round the final answer to the nearest dollar.) A. $8,250 B. $458 C. $4,068 D. $5,500C. Complete the following table: Value of the Deposit Mathematical Expression Used to Deposit Deposit Amount How long it will be in the account After 5 Years Find this Value 1 $350 59 months 469.74 350(1.005)" $350 58 months 350(1.005)* 467.41 $350 57 months 350(1.005)*7 3 465.08 2 months 350(1.005) 58 $350 354.50 1 month 350(1.005)' 59 $350 351.75 60 $350 O month 350 350(1.005)° d. We could find the value of the account after 5 years by adding all the values in the 4th column (if we actually extended the entire table. Why would we not want to do this? e. Use the last column to find the value of the account after 5 years. f. How much interest did Jack earn from the bank in these 5 years? g. If Jack kept saving what would the value of his account be after 10 years ? How can we adjust our answer to question e to answer this question? ..3. Person A deposits $1,000 at a simple interest rate of s=6%. At the same time person B deposits $900 at an annual effective interest rate i. At the end of the 5th year the amounts of money in the two accounts are equal. Find i. (A)6.39% (B)6.44% (C) 6.49% (D)7.49% (E) 7.63% (F)7.79%