If a savings account pays interest on a quarterly basis and you are performing future value calculations
Question:
If a savings account pays interest on a quarterly basis and you are performing future value calculations on deposited amounts, how can you calculate the rate?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 37% (8 reviews)
If you have a rate such as a price per some number of ...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
-
A savings account pays interest of 1.5%. Interest is calculated on the daily closing balance and paid at the close of business on the last day of the month. A depositor had a $2239 opening balance on...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
The Canada Savings Bonds Payroll Savings Program is an easy and effortless way to save for your dreams. You can do this by following three "rules." The first "rule" is to pay yourself first. The...
-
Samples of size n = 5 are collected from a process every half hour. After 50 samples have been collected, we calculate. x = 20.0 and s 1.5. Assume that both charts exhibit control and that the...
-
As water temperature increases, sodium nitrate (NaNO 3 ) becomes more soluble. The following table (103) gives the number of parts of sodium nitrate that dissolve in one hundred parts of water....
-
Let X be a random variable with geometric pdf (a) Find E(X) and Var(X). (b) Show that f(x) = p(1-p)-, x=1,2,3, ..
-
Show that the two-sided p-value is \(1-\hat{F}_{T}\left(\left|t^{*} ight| ight)+\hat{F}_{T}\left(-\left|t^{*} ight| ight)\), where \(\hat{F}_{T}\) is the ECDF of the randomization distribution of...
-
Prepare a tax return for Charlie and Cindy Clergy. Charlie Clergy (age 44, DOB: 5/2/76, SSN: 453-00-9863), whose Form W-2s and 1099s follow, is an ordained minister in the Episcopal Church. His wife,...
-
Coronado Industries has 26000 units in beginning finished goods. If sales are expected to be 140000 units for the year and Coronado desires an ending finished goods of 35000 units, how many units...
-
The production line of product X is described below. 504 units of product X must be produced daily with production time being 7 hours per day. Design a line that minimized the number of workstations...
-
The discount rate that is required to equate a future payment of $500 in three years to a present value of $400 is _______________. a. 4.7% b. 6.5% c. 7.7% d. 8.8%
-
What is the present value of $5,000 that will be paid to you eight years from today at 8% interest?
-
Use the Euclidean algorithm to find the greatest common divisor of 10,223 and 33,341.
-
Discuss the primary conditions that foster the development of group think, and outline at least four symptoms of a group in which group think has taken hold.
-
A desperate Billy Bob Thornton has restarted his "Hire-a-Santa" service in order to generate income. In preparing his annual budget, he assumes he will earn $125,000 in revenue, while incurring...
-
Martha Company's sales consists of 20% cash sales and 80% credit. For their credit sales, Martha Company estimates that they will collect 60% of sales in the month sold, 20% in the following month,...
-
Beginning finished goods inventory $ 7,800 Ending finished goods inventory $ 14,000 Underapplied overhead $ 3,000 Adjusted cost of goods sold $ 53,000 What is the cost of goods manufactured?
-
How is net cash burn calculated? Explain with Example.
-
What is MADM, and in what way is it useful?
-
Evaluate each logarithm to four decimal places. log 0.257
-
Craig Computers makes bulk purchases of small computers, stocks them in conveniently located warehouses, and ships them to its chain of retail stores. Following is Craig's balance sheet as of...
-
Find the future values of the following ordinary annuities: a. FV of $400 each six months for five years at a simple rate of 12 percent, compounded semiannually b. FV of $200 each three months for...
-
Martell Corporation's 2012 sales were $12 million. Sales were $6 million five years earlier. To the nearest percentage point, at what rate have sales grown?
-
How do emergent social paradigms, such as post-capitalism and post-colonialism, inform contemporary discourses on social change, and what implications do they have for global transformation ?
-
Potato Chips Inc. paid a dividend of $1.9 per share yesterday. You expect the dividend to grow steadily at a rate of 3% per year. What's the value of a share of the firm? Assume an interest rate of...
-
Product Vision Exercise In your group, create Product Vision-Elevator Test statement using the template from Product Vision video and Describe primary Persona-> upload in the drop box (due-July 3,...
Study smarter with the SolutionInn App