Question: I will rate your answer and there is no need for any explanations because the program will give them to me at a later date,
I will rate your answer and there is no need for any explanations because the program will give them to me at a later date, thanks.
1. Hannah saved $250 at the start of each month for the last 10 years. If the accumulated value of her savings is now $38,547.59, what effective rate of interest has she earned (Round your final percentage answer to 2 decimal places.)
2. A gym offers an annual membership for an upfront payment of $1,175. Alternatively, a customer can choose to pay beginning-of-month payments of $110 for 12 months. What monthly compounded rate is the gym charging a customer who selects the monthly payment plan? (Round your final percentage answer to 2 decimal places.)
3. Emile has deposited $100 at the start of each month to a savings fund for the last 3 years. If the savings have earned 8% compounded quarterly, what is the accumulated value in the fund today? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
4. Arjun has deposited $250 at the start of each month into a savings plan that earns 8% compounded semiannually. If his total accumulated funds are $34,442.22 today, for how long has Arjun been making these savings deposits? (Do not round intermediate calculations. Round your final answers to whole decimal value.)
5. To prepare for an upcoming equipment purchase, the finance team at Canada Wire Corp. has invested $12,500 at the start of every quarter for the last 2 years. If the funds have earned 6% compounded semiannually, how much is in the investment account today? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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