You deposit $400 in an account earning 8% coumpound interest for 2 years. Find the future value and the interest earned for each of the following compounding frequencies. Use the Bankers' Rule for daily compounding. Frequency Future Value Interest Earned Annually: Semiannually: Quarterly: Monthly: Daily:
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- If you borrow $7,300 at $800 interest for one year, what is your effective interest rate for the following payment plans? Note: Input your answers as a percent rounded to 2 decimal places. a. Annual payment b. Semiannual payments c. Quarterly payments d. Monthly payments Effective Rate of Interest % % % %Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes from deposits and how much comes from interest? A=P(1+r)t−1r A=P1+rnnt−1rn P=Arn1+rnnt−1 Periodic Deposit: $? at the end of each month Rate: 7.5% compounded monthly Time: 3 years Financial Goal: 34,000You deposit $500 in an account earing 5% compound interest for 6 years.Find the future value and the interest earned for each of the following compounding frequencies. Use the Banker's Rule for daily compounding. Annaully Future Value Interest Earned Semiannually Quarterly Monthly Daily
- You deposit $5100 in an account earning 4% compound interest for 3 years. Find the future value and the interest earned for each of the following compounding frequencies. Round all answers to two decimal places where applicable. Enter positive values for the Interest Earned. (For this question: 1 year = 365 days, including leap years) Frequency Semiannually Daily > Next Question (P/Y = C/Y) N Future Value FA $ Interest earnedYou deposit $500 in an account earning 7% compound interest for 3 years. Find the future value and the interest earned for each of the following compounding frequencies. Use the Bankers' Rule for daily compounding. Frequency Future Value Interest Earned Annually: Semiannually- Quarterly: Monthly Daily:Consider a credit card with a balance of $7000. You wish to pay off the credit card in each scenario. Calculate the following. Round your answer to the nearest cent, if necessary.a. The amount of a monthly payment within the time frame givenb. The total amount paid over the time period12. APR of 17.99% paid off within 1 year APR of 24% paid off within 3 years
- Suppose you invest $1,000.00 in an account with an annual interest rate of 6% compounded monthly (6%÷÷12 = 0.5% each month). At the end of each month, you deposit $275.00 into the account.Use this information to complete the table below. Round to the nearest cent in each step as needed. Month Prior Balance 0.5% Intereston Prior Balance Monthly Deposit Ending Balance 0 $1,000.00 1 $1,000.00 $275.00 2 $275.00 $1,561.40 3 $1,561.40 $275.00 4 $9.22 $275.00Find the future value for each of the following scenarios, where m is the periodic deposit and r is the interest rate. compounding time frequency in years annually 6 $500 3.1% semiannually quarterly monthly weekly m r $225 7.9% $500 5.8% $100 5.6% $100 2% $ tA 8 $ 7 $ LA 6 $ LA 12 $ future value $ $ LA $ $ tA $ interest earnedYou expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $650,000 3% monthly 23 years Interest rate: Frequency Time: Account balance: $
- You expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $200,000 Interest rate: 2.9% Frequency monthly 24 years Time: Periodic Withdraw: $ Enter an intesYou expect to have the given amount in an account with the given terms. Find how much you can withdraw periodically in order to make the account last the specified amount of time. Round your answer to the nearest cent. Account balance: $800,000 Interest rate: 2.15% weekly 19 years Frequency Time: Account balance: $If you deposit $250 each month into an individual retirment account that earns 4.8% interest compounded monthly, a.) How much will you have in the account 30 years from now ? b.) What is the interest earned on the account ?