An Account has an balance of $3500 an earns an annual compound intrest rate over 2 yrs leaving the account with a new balance of $4390.08 how much is the annual interest rate?
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An Account has an balance of $3500 an earns an annual compound intrest rate over 2 yrs leaving the account with a new balance of $4390.08 how much is the annual interest rate?
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- If $7,128 is deposited into an account that earns simple interest and it takes 9 years to earn $1,796.26 in total interest, then the annual interest rate for the account is?Suppose on January 1st you deposit $100 in an account that pays a nominal interest rate of 11.33463% with interest added (compounded) daily. How much will you have in your account on October 1st or 9 months later?Suppose you make quarterly deposits of $1,500.00 into an account that pays an interest at a rate of 6% compounded monthly. Find the balance of the account at the end of year 2.
- Suppose you deposit $22.000 in an account today that pays 6% interest, compounded annually. How long does it take before the balance in your account is $76.000?b) If the same two $15,000 deposits are made (at time 0 and end of year 4) into a different account that earns a nominal annual interest rate of 8.4% compounded quarterly, in which account should the money be deposited in order to earn more interest?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 ?
- How long will it take to $200 of interest if $1000 has been deposited into an account with an interest rate of 14% that compounds semiannually? 1 year 6 months 2 years 6 months 2 years 1 YearDetermine the interest rate earned on a $1,500 deposit when $1,680 is paid back in one year.How much must you deposit in an account today so that you have a balance of $18,355 at the end of 11 years if interest on the account is 13% p.a., but with quarterly compounding? Round your answer to 2 decimal places; record your answer without commas and without a dollar sign.
- 2. Deposit the principal amount of P10,000 into a savings account that pays interest at the rate of 5%. What is the amount in the account after 1 year if the account is: a. compounded annually b. compounded semi-annually c. compounded quarterly d. compounded monthly e. Which is advantageous to the investor?If you deposit $63,679.00 at 10.16% annual interest compounded quarterly, how much money will be in the account after 19.0 years? Question 9 If you deposit $1,760.00 into an account paying 11% annual interest compounded monthly, how many years until there is $2,837.00 in the account?Listen How long would you have to wait for a deposit of $1,625 to earn $34 in interest? Assume that the account earns a simple interest rate of 6.75% per annum. Express your answer in months to two decimal places. Your Answer: Answer