Question: How much interest is earned in the third year on a $1,500 deposit that earns 6.5% interest compounded annually? Select one: a. $292.50 b. $110.59

How much interest is earned in the third year on a $1,500 deposit that earns 6.5% interest compounded annually? Select one: a. $292.50 b. $110.59 c. $97.50 d. $140.00

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 Finance Questions!

Payroll Investigation Worksheet: Complete your Fair Labor Standards Act ( FLSA ) Designation Worksheet. Fill out the worksheet PDF then use the download icon to save your work. Be sure to select the...

1.What is the future value of $10,000 on deposit for 2 years at 6% simple interest? 2.How much interest is earned in just the third year on a $1,000 deposit that earns 7% interest compounded...

Question 1 (Mandatory) (3 points) What is the future value of $4,500 on deposit for 4 years at 7% compound interest? Your Answer: Answer Question 2 (Mandatory) (3 points) What is the present value of...

What is the future value of $4,750 on deposit for 5 years at 2% compound interest? Your Answer: Answer Question 2 (Mandatory) (3 points) What is the present value of the following payment stream,...

QUESTION 1 What is the future value of $953 on deposit for 2 years at 5% simple interest? QUESTION 2 What is the present value of the following payment stream, discounted at 6% annually: $236 at the...

3 3 . You will be receiving cash flows of: $ 1 , 0 0 0 today, $ 2 , 0 0 0 at end of year 1 , $ 4 , 0 0 0 at end of year 3 , and $ 6 , 0 0 0 at end of year 5 . What is the present value of these cash...

T.2020 13) 13) Present values can always be calculated by dividing the cash flow by a discount factor. A) True B) False 14 4) A car's price is currently $20,000 and is expected to rise by 4% a year....

17. Assume a bond is currently selling at par value. What will happen if the bond's expected cash flows are discounted at a rate lower than the bond's coupon rate? A. The price of the bond will...

QUESTION 2 What is the present value of the following payment stream, discounted at 6% annually: $236 at the end of year 1, $979 at the end of year 2, and $376 at the end of year 3? QUESTION 3 How...

How much interest is earned in just the 48th year on a $50 deposit that earns 5% interest compounded annually? $26.0 OA. O B. $24.8 OC. $22.7 OD. $2.50 The sum of $1,000 is deposited into an account...

An investment of $5 pays interest of 3.5% per week. What will be the value of this investment at the end of 3 years? (assume 52 weeks in one year) The sum of $1,000 is deposited into an account...

Multiple Choice In 2018, internal auditors discovered that Fay, Inc., had debited an expense account for the $3,570,000 cost of a machine purchased on January 1, 2015. The machine's useful life was...

Auditors are required on every engagement to obtain a representation letter from the client. a. What are the objectives of the clients representation letter? b. Who should prepare and sign the...

how to respond: Trends and Assessment The trends in these ratios reveal that while Apple is experiencing some pressure on gross profits, its operating and net income margins remain resilient. The...

https://media.cheggcdn.com/media/e59/e5900ba1-02b0-44ab-8246-fb980e24e7c1/phpDkQ6Ux

8. last word Real (inflation-adjusted) tuition costs were nearly constant during the 1960s despite a huge increase in the number of college students as the very large Baby Boom generation came of...

1. Explain the law of demand. Why does a demand curve slope downward? How is a market demand curve derived from individual demand curves? LO3.2

2. Most scalping laws make it illegal to sellbut not to buy tickets at prices above those printed on the tickets. Assuming that is the case, use supply and demand analysis to explain why the...