If you were to open a savings account that earns 3% interest and is compounded quarterly, what
Question:
If you were to open a savings account that earns 3% interest and is compounded quarterly, what would be the total amount in your account after 10 years if you made an opening deposit of $9,500?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (15 reviews)
FV PV 1in FV 9500 1310 FV ...View the full answer
Answered By
Abdullah Waseem
Hello! I’m Abdullah Waseem! I have completed my graduation in Accounting & Finance from the University of Central Punjab, Lahore. I specialize in Finance, Accounting, Business, Management, Marketing, and Auditing. I have many experiences working as a content developer/writer. I have completed many projects for my clients and I have completed many assignments/expert questions for students globally. I always look for opportunities and for better growth. I’m sure that I will work efficiently with your online website. I have been online tutoring since I was doing my degree. I've helped so many students achieve their academic goals year after year. I always feel good while tutoring the students and providing help to complete their requirements. I can help you in completing the assignments and different projects. I am looking forward to working for you and being able to meet your work requirements and hope to work with you soon as well.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
You deposit $10,000 in a savings account that earns 7.5% simple interest per year. What is the minimum number of years you must wait to double your balance? Suppose instead that you deposit the...
-
You have set a goal to save $10 000 in a savings account that earns interest at 2.54% compounded quarterly. How much must you deposit every three months for 5 years if the deposits are made at the...
-
3.1 3.2 3.4 3.3 To finance the purchase of a tree harvester, a logging company borrows $150,000 at an annual interest rate of 12%. The loan is to be repaid with a series of six annual payments....
-
write a note on Moll Cutpurse Life?
-
Carry out the details for a goodness-of-fit test on the horse kick data of Question 4.2.10. Use the 0.01 level of significance.
-
Death also involves rites of passage. Funeral ceremonies help the living organize their relationships with the deceased. Action is tightly scripted, down to the costumes (e.g., the ritual black...
-
A gas turbine works on (a) Otto cycle (b) Rantine cycle (c) Brayton cycle (d) Stirling cycle
-
On December 23, 2010, Miller Wholesalers ships merchandise to Michael Retailers with terms of FOB destination point. The merchandise arrives at Michaels warehouse on January 3, 2011. Required 1....
-
You are an expatriate (with a spouse and a 6-year-old daughter) sent on assignment for one year to Hong Kong. What should you do to prepare for departure? Why? What training should you or your family...
-
A local political campaign must coordinate a number of necessary activities to be prepared for an upcoming election. The following table describes the relationships between these activities that need...
-
You are considering four possible options for your new savings account. You plan to deposit $13,000 and leave this amount in the account for 20 years with no additional deposits or withdrawals. All...
-
If you are scheduled to receive $4,000 six years from today and the discount rate is 8.5%, what is the present value of this payment?
-
Dominos Pizza International Franchising Inc. (DPIF) is the owner of the Dominos brand across the globe. We have two Master Franchise Agreements in place with DPIF, which gives us exclusive rights to...
-
Matched Problem 4 Find the derivative m'(x) of the composite function m(x). (A) m(x)=(2x+4)-5 (B) m(x) = ex*-6 (C) m(x) = ln(x+9x+4)
-
6. Find the 8's and the 9's complement of the following base-9 numbers by showing the steps: a. 25,478,036 b. 00,000,000
-
Consider Sixto's entrepreneurial journey and the development of Think of Us. What kind of challenges or obstacles do you think he had to overcome to complete his journey? Discuss some of the...
-
Find the derivative m'(x) of the composite function m(x). (A) m(x)=(2x+4)-5 (B) m(x)=3x-6 (C) m(x) = ln(x+9x+4) E
-
Camille, Incorporated, sold $164,000 in inventory to Eckerle Company during 2023 for $200,000. Eckerle resold $105,000 of this merchandise in 2023 with the remainder to be disposed of during 2024....
-
Write a structure for each of the following compounds: a. isopropyl alcohol b. isopentyl fluoride c. sec-butyl iodide d. neopentyl chloride e. tert-butylamine f. n-octyl bromide
-
a. Show that the expansion of q(x) in ascending powers of x can be approximated to 10 2x + Bx 2 + Cx 3 where B and C are constants to be found. b. Find the percentage error made in using the series...
-
Flint, an S corporation with substantial AEP, reports operating revenues of $410,000, taxable interest income of $390,000, operating expenses of $260,000, and deductions attributable to the interest...
-
Bonnie and Clyde each own one-third of a fast-food restaurant, and their 13-year-old daughter owns all of the other shares. Both parents work full-time in the restaurant, but the daughter works...
-
Blue is the owner of all of the shares of an S corporation, and Blue is considering receiving a salary of $110,000 from the business. She will pay the 7.65% FICA taxes on the salary, and the S...
-
Assignment 1 1. Write a program to implement the following formula for a -10 and b = 4; result = (a + 2b - 4ab)^4 // ^4 means to the power of 4 (1 mark) 2. Write a program to implement result = sin...
-
I have most of it done, I just need help fixing some things. import java.util.Scanner; public class Main { private String[] database; private Scanner input; public Main() { database = new...
-
Part 2 - WeatherMonitor Suppose you observe daily temperatures and want to know how hot each day is compared to recent days. That is, you want to: keep track of daily temperature values and know for...
Study smarter with the SolutionInn App