Five years after Anne deposited $3600 in a savings account that earned interest at 4.8% compounded monthly,
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (12 reviews)
Balance after five years PV 360000 IY 48 CY 12 i 04 n 60 FV 36000010...View the full answer
Answered By
Mehwish Aziz
What I have learnt in my 8 years experience of tutoring is that you really need to have a friendly relationship with your students so they can come to you with their queries without any hesitation. I am quite hardworking and I have strong work ethics. Since I had never been one of those who always top in the class and always get A* no matter what, I can understand the fear of failure and can relate with my students at so many levels. I had always been one of those who had to work really hard to get decent grades. I am forever grateful to some of the amazing teachers that I have had who made learning one, and owing to whom I was able to get some extraordinary grades and get into one of the most prestigious universities of the country. Inspired by those same teachers, I am to be like one of them - who never gives up on her students and always believe in them!
5.00+
3+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Question Posted:
Students also viewed these Finance questions
-
Yin li deposited $800 into a savings account that compounded interest monthly. What nominal annual rate compounded monthly was earned on the investment if the balance was $952.75 in five years?
-
The following are several situations involving compound interest. Required Using the appropriate table, solve each of the following: 1. Hope Dearborn invests $40,000 on January 1, 2007 in a savings...
-
Outline the following problems. 1- You of each of the next 5 years in a savings account paying 6% compounded annually, how much will you accumulate after 5 years? 2- James Smith has a 4-year ordinary...
-
In his senior year at Notre Dame, Chris Moore had been the third runner-up for the fabled Heisman Trophy. The trophy goes to the outstanding football player in America and is presented annually by...
-
Akiko Hamaguchi is a manager at a small sushi restaurant in Phoenix, Arizona. Akiko is concerned that the weak economic environment has hampered foot traffic in her area, thus causing a dramatic...
-
A balance sheet at December 31, 2016, for the Bec, Dee, and Lyn partnership is summarized as follows: Dee is retiring from the partnership. The partners agree that partnership assets, excluding Dee's...
-
What is the focus of tests of controls for fixed asset records?
-
Wood4Fun makes wooden playground equipment for the institutional and consumer markets. The company strives for low-cost, high-quality production because it operates in a highly competitive market in...
-
The HIPAA Privacy Rule provides individuals with certain rights about how their health information is used and disclosed as well as how they can gain access to health records and information about...
-
Drag and drop the pieces to put each "work paper" into the appropriate folder scoping referenced copy of final financial statements Identify and assess risk. walkthrough of treasury cycle design...
-
What sum of money invested at 4% compounded quarterly will grow to $3300 in 11 years?
-
A debt can be repaid by payments of $4000 today, $4000 in five years, and $3000 in six years. What single payment would settle the debt one year from now if money is worth 7% compounded semi-annually?
-
Campbell Manufacturing Company (CMC) was started when it acquired $80,000 by issuing common stock. During the first year of operations, the company incurred specifically identifiable product costs...
-
Consider three independent risky assets with variances v1 = 0:01; v2 = 0:02; v3 = 0:04 and with expected returns r1 = 10%; r2 = 20%; r3 = 30% Consider the Markowitz optimization model that forms a...
-
Based on Historical Simulation with m = 200 days, you find that the 6 lowest simulated portfolio returns are -10%, -7%, -6%, -5%, -4%, and -3%. These returns occurred 3, 20, 40, 10, 4, and 27 days...
-
AutoSave OFF Home Insert m. Paste Page 1 of 2 B Draw Design Layout Calibri (Bo... V 12 I 2 U 611 words ab 2 V A A Aa x A References V English (United States) A Po V Mailings Review V V W Option...
-
Essential Skills for Employment & Education - Google Chrome en.esee.essentialskillsgroup.com/index.php?p=quiz&trade=698&mod=7&type=numeracy&resume&quizid=2148345752&st=1682015672 Section 7 of 11 -...
-
A 2 . 5 cm hole is made in a steel sheet. in diameter at a temperature of 1 5 C . How much will the diameter of the hole increase when the sheet is heated to a temperature of 1 5 0 C .
-
Answer each question in Problem 7 assuming beginning-of-month payments. Data from in Problem 7 You are borrowing $200,000 on a 30-year mortgage, with an annual interest rate of 10 percent. Assuming...
-
Critical reading SAT scores are distributed as N(500, 100). a. Find the SAT score at the 75th percentile. b. Find the SAT score at the 25th percentile. c. Find the interquartile range for SAT scores....
-
Manually calculate the compound interest on a 13% loan of $1,600 for three years if the interest is compounded annually?
-
The appropriate formula to find the interest on a certificate of deposit (CD) of $10,000 for five years at 4% compounded semiannually?
-
Find the future value of an investment of $8,000 compounded quarterly for seven years at 2%?
-
Matrix B is given as follows, -18 20 -61 B-12 14 -3 30 -30 13. a) Use the Gerschgorin's Circle Theorem to determine a region containing all the eigenvalues of B. b) Find the dominant eigenvalue (21)...
-
5.63. Acetone can be removed from acetone-air mixtures using simple counter- current cascades, by adsorption onto charcoal (Foust et al. 1980). We wish to find the required number of equilibrium...
-
Use characteristic polynomial to find the eigen value and eigen vector for A S
Study smarter with the SolutionInn App