Ethans grandmother deposited $5000 for him in a savings account on his fifteenth birthday on March 30,
Question:
Ethan’s grandmother deposited $5000 for him in a savings account on his fifteenth birthday on March 30, 2021. How much interest would he have earned in the account by his eighteenth birthday assuming an interest rate of 2.5% p.a.?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (12 reviews)
Given data Deposited amount P 5000 ...View the full answer
Answered By
SHANMUKHI PRASAD NILLA
Well I am here to tell about Education & Tutoring experience, I completed my Bachelors of Technology in the stream of civil engineering at Rajiv Gandhi University of Knowledge Technologies Nuzvid. Coming to my Tutoring Experience I taught to my friends at the time of study and solve their doubts about subject and I have 2 years of experience in Subject Matter Expert in Chegg India Pvt Ltd ( Civil Engineering ).
0.00
0 Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics With Canadian Applications
ISBN: 9780135285015
12th Edition
Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
Question Posted:
Students also viewed these Mathematics questions
-
Ethan's grandmother deposited $5000 for him in a savings account on his fifteenth birthday on March 30, 2017. How much interest would he have earned in the account by his eighteenth birthday assuming...
-
A woman desires to have $400,000 in a savings account when she retires in 20 years. Because of the effects of inflation on spending power, she stipulates that her future "nest egg" will be equivalent...
-
In 2015, Jessica placed $250,000 in a savings account listing ownership as follows: "Jessica, Keri, and Jason, joint tenancy with the right of survivorship." Keri and Jason are Jessica's adult...
-
Ir Snip MB MBA MBB MBC MBD MBE a. A community of five individuals; Ali, Boy, Chia, Doc and Ed is planning to provide street lighting in their neighborhood. The marginal cost of providing the lighting...
-
Is the type of growth exhibited by Paramecium more likely to be seen in the laboratory or in nature? Why?
-
You are the marketing manager for the Tesla Model 3 and have been tasked with developing an effective social media strategy. Review the discussion of social media and consider the following: a....
-
A petrol engine with a stroke length of \(200 \mathrm{~mm}\) and diameter of \(150 \mathrm{~mm}\) has a clearance volume of \(5 \times 10^{3} \mathrm{~mm}^{3}\). The indicated thermal efficiency of...
-
The following information about the payroll for the week ended December 30 was obtained from the records of Arnsparger Equipment Co.: Tax rates assumed: Social security, 6% Medicare, 1.5% State...
-
Prepare a statement of retained earnings for the three months ended December 31, 2021. BUSINESS SOLUTIONS Statement of Retained Earnings For Three Months Ended December 31, 2021 Retained earnings,...
-
We have 14 sources, each creating 500 8-bit characters per second. Since only some of these sources are active at any moment, we use statistical TDM to combine these sources using character...
-
At what rate of interest will $1500 grow to $1562.04 from June 1, 2022, to December 1, 2022?
-
Solve the following. On May 28, 2021, Ling purchased a government-guaranteed short-term investment maturing on August 4, 2021. How much did Ling pay for the investment if $10 000 will be received on...
-
What is an IRS notice? When is it used? In your opinion, could a tax practitioner rely on an IRS notice as authority for a tax return position?
-
How did advocates for civil service reform want to change the system of filling government jobs by the "spoils system?"
-
How did France attempt to achieve stability during the crisis of the seventeenth century?
-
When did 3D printing start in your selected industry? How was it first used in this industry?
-
What is your current philosophy for driving change in the health care industry? Speak from an dialysis experience in the health care industry and insight from the MHA program. Include an example of...
-
What did the NASA's Challenger Shuttle case demonstrate in terms of team decision making?
-
Refer to the information reported about Golden Corporation in Problem 16-6A. Required Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A.1; report operating activities...
-
An interest bearing promissory note for 90 days at 5.6% p.a. has a face value of $120,000. If the note is discounted 20 days after the issue date at a rate of 6.8% p.a., calculate the amount of...
-
Nine $1000 8% bonds with interest payable semi-annually and redeemable at par are purchased 10 years before maturity. Find the premium or discount and the purchase price if the bonds are bought to...
-
A $100 000, 5% bond with interest payable semi-annually redeemable at par on July 15, 2027, was purchased on April 18, 2016, to yield 7% compounded semi-annually. Determine (a) The premium or...
-
Four $10 000 bonds bearing interest at 6% payable quarterly and redeemable at par on September 1, 2024, were purchased on January 23, 2012, to yield 5% compounded quarterly. Determine (a) The premium...
-
Figure out, salaries, net income, add net income with retained earnings and totally stockholder equity , ?accounts payable and total liabilities and stockholders equity RILEY, INCORPORATED Statement...
-
Determine the material inventory balance at the end of may? Received Issued Receiving Received Materials Report Number Received Quantity Unit Price Requisition Number Issued Quantity Issued Balance...
-
During October 2 0 2 3 , Fern Field Farms, Inc. received $ 1 0 , 0 0 0 from customers in exchange for fruit and vegetables. During the same month, the company paid $ 2 , 0 0 0 to employees, $ 5 0 0...
Study smarter with the SolutionInn App