Question: can someone help me on this problem A depositor opens a new savings account with $8000 at 8% compounded semiannually. At the beginning of year

can someone help me on this problem

A depositor opens a new savings account with $8000 at 8% compounded semiannually. At the beginning of year 5, an additional $6000 is deposited. At the end of six years, what is the balance in the account? The balance in the account at the end of 6 years is $. (Do not round until the final answer. Then round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

A depositor opens a new savings account with $8000 at 3% compounded semiannualy. At the beginning of year 3 , an additional $4000 is deposited. At the end of four years, what is the balance in the...

12 END-OF-CHAPTER PROBLEMS connect Check figures for odd-numbered problems in Appendix B. Name . Date DRILL PROBLEMS Complete the following without using Table 12.1 (round to the nearest cent for...

Please solve fast otherwise skip for intelligent tutors. I need help urgently Only typed answer needed. Zoom in for question clarity A deposfor opens a few savings account wan $6gog at 2% compounded...

Score: 0 of 1 pt JUL 11 (14 X PF.4.41 Question Help You deposit $2000 in an account that pays 6% interest compounded semiannually. After 5 years, the interest rate is increased to 6.12% compounded...

A depositor opens a new savings account with $ 7000 at 8 % compounded semiannually . At the beginning of year 3 , an additional $ 6000 is deposited. At the end of four years, what is the balance in...

Homework: HW # 4 Save Score: 0 of 1 pt 38 of 60 (30 complete) v HW Score: 41.11%, 24.67 of 60 pts 8.4.67 E Question Help A depositor opens a new savings account with $11,000 at 2% compounded...

A depositor opens a new savings account with $ 7000 at 8 % compounded semiannually. At the beginning of year 3, an additional $6000 is deposited. At the end of four years, what is the balance in the...

I would like some guidance with the questions below. Thank you Q1. In terms of risk, preferred stock is safer than common stock because it has a prior claim on assets and income. a. True b. False Q2....

A depositor opens a new savings account with $9000 at 2% compounded semiannually. At the beginning of year 3, an additional $5000 is deposited. At the end of four years, what is the balance in the...

Future value interest factor of $1 per period at i% for n periods, FVIF(i,n). Period 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 1.0050 9.0% 1.0100 9.5%...

Switch S in Figure is closed at time t = 0 initiating the buildup of current in the 15.0 mH inductor and the 20.0?? resistor. At what time is the emf across the inductor equal to the potential...

prepare a common-size balance sheet for Patterson. Complete the common-size balance sheet below: Common-Size Balance Sheet 2016 Cash and marketable securities $ 540 % Accounts receivable 5,960...

Which of the following firms purchases notes drawn up by sellers of big - ticket items? a . Commercial bank b . Insurance company c . Consumer finance company d . Sales finance company

please answer queation 2 to the best of your knowledge ! Reflection Questions change 25 attitudinal structuring. 255 direct dealing. 26 intraorganizational bargaining, 255 surface bargaining, MT...

4. Give an example of how the consistency principle can be used to influence others.

6. Give an example of how the liking principle can be used to influence others.

5. Give an example of how the consensus principle can be used to influence others.