1. You deposit $600 into an account that earns 4.875% simple interest per year. a. How...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
1. You deposit $600 into an account that earns 4.875% simple interest per year. a. How much interest would you earn after 11 months? b. What's the total amount (FV) will you have after 11 months? 1. You deposit $600 into an account that earns 4.875% simple interest per year. a. How much interest would you earn after 11 months? b. What's the total amount (FV) will you have after 11 months?
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
(a) A proton is moving at a speed much slower than the speed of light. It has kinetic energy K1 and momentum P1. If the momentum of the proton is doubled, so P2 = 2p1 how is its new kinetic energy K2...
-
The following are the major balance sheet classifications. Current assets (CA)......... Current liabilities (CL) Long-term investments (LTI)..... Long-term liabilities (LTL) Property, plant, and...
-
Test the claim that the standard deviation of the ages of psychologists in Pennsylvania is 8.6 at = 0.05. A random sample of 12 psychologists had a standard deviation of 9.3.
-
Calculate the value of Maxwell-Stefan diffusivity for ethanol water at \(40^{\circ} \mathrm{C}\) for ethanol mole fractions of \(0.0,0.2,0.3,0.4,0.7\), and 1.0 . The Fickian diffusivities are...
-
Frank and Maureen Fantazzi invested $6,000 in a savings account paying 4% annual interest when their daughter, Angela, was born. They also deposited $1,000 on each of her birthdays until she was 18...
-
Shouldn't Canada be investing in a highspeed rail network? Could it be a game changer for passenger and freight movements?
-
Suppose that you manage a pension fund with obligations to make perpetual payments of $60,000 per year to beneficiaries, and you plan to fund the obligation fully by using 5-year and 20-year maturity...
-
The annual taxes on a home are $3,643. The closing date is May 21. What will the buyer be credited at closing using a calendar year in a leap year and having the seller pay the expense for the day of...
-
A diffraction grating with a width of 2.1 cm contains 1050 lines/cm across that width. For an incident wavelength of 610 nm, what is the smallest wavelength difference this grating can resolve in the...
-
A fan blade increases its speed of rotation from 200 revolutions per minute to 250 revolutions per minute in 1 minute. What is the blade's acceleration in rad/s 2 ?
-
Explain how being accountable to various stakeholders and external bodies can have an impact on education and training organisations. Analyse the impact of this for your own curriculum design,...
-
Muthuphone Mobiles Inc. produces mobile phones in a factory in Dhaka, Bangladesh to satisfy some local demands. Output is measured in a number of units. Materials are added at the beginning of the...
-
Ayayai Corporation purchased a new plant asset on April 1, 2020, at a cost of $960,000. It was estimated to have a useful life of 20 years and a residual value of $360,000, a physical life of 30...
-
What are the key dimensions of critical thinking 2. Watch the NBC Learn video on Diet Scams. What types of claims are made in this video Are they valid Elaborate on your responses. Discuss this video...
-
Show that the decimal expression for \(\sqrt{2}\) is not periodic.
-
Express the decimal \(1 . \overline{813}\) as a fraction \(\frac{m}{n}\) (where \(m\) and \(n\) are integers).
-
Which of the following numbers are rational, and which are irrational? Express those which are rational in the form \(\frac{m}{n}\) with \(m, n \in \mathbb{Z}\). (a) \(0 . a_{1} a_{2} a_{3} \ldots\),...
Study smarter with the SolutionInn App