Question: If you deposit $ 1 . 0 0 0 every 6 months for 1 0 years at an interest rate 1 0 % per year

If you deposit $1.000 every 6 months for 10 years at an interest rate 10% per year compounded quarterly, how much money will you have in your account at the end of 10 years?

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!

Q:

A $50 000, 6% bond with semi-annual coupons redeemable at par on April 25, 2018, was purchased on June 25, 2009, at 94.378. What was the approximate yield rate? 2. An obligation can be settled by...

Q:

Can you help me with my math worksheet, I need it by 6:00 PM (Canadian Time) If ((1) = 0.7 and /(2) = 14 in a geometric series, determine the sum of the first 12 terms in the series. Be sure to show...

Q:

MAKE A CASH FLOW DIAGRAM FOR EACH ITEM 4. A father wishes to provide P20,000 for his son's 21st birthday. How much should he deposit every 6 months in an account with an interest of 3% compounded...

Q:

If an investor deposits $800 into an account every 2 months at an interest rate of 9 per year compounded continuously, answer the following questions 1. What is the payment period PP? 2. What is the...

Q:

1) You are planning to purchase a car upon graduation in three years. The price of the car today is $5,000 and is increasing at the rate of 8% per year (compounded). How much money should you deposit...

Q:

(a) If you deposit $1 into a savings account that earns interest at an annual interest rate r (b) compounded n. times a year, then after one year, the initial deposit of $1 will have grown to an...

Q:

(a) If you deposit $1 into a savings account that earns interest at an annual interest rate r (b) compounded n. times a year, then after one year, the initial deposit of $1 will have grown to an...

Q:

Assume that you are nearing graduation and have applied for a job with a local bank. The bank's evaluation process requires you to take an examination that covers several financial analysis...

Q:

I need all of them please and thank you! Determine the amount of the ordinary annuity at the end of the given period. (See Example 3. Round your final answer to two decimal places.) $18,000 deposited...

Q:

1. Sonny Bono made an investment on August 1, 2011 which earned $9,000 one year later. If the investment?s rate of return was 8%, how much did Sonny invest? $112,500 2. Patricia inherited $25,000 and...

Q:

Because all airline passengers do not show up for their reserved seat, an airline sells n = 125 tickets for a flight that holds only 120 passengers. The probability that a passenger does not show up...

Q:

Lewis structures can be used to understand why some molecules react in certain ways. Write the Lewis structures for the reactants and products in the reactions de-scribed below. a. Nitrogen dioxide...

Q:

Uses of Derivatives include: I. Risk Minimization II . Reduce the required $ investment necessary to set up a position. III. Construction of ETFs. Group of answer choices i , II and III. I and II . I...

Q:

Which of the following is an advantage that small firms have over large businesses? Multiple Choice critical knowledge spread across the firms' human resources pool the ability to respond quickly to...

Q:

What are the specifics of the German context, both on corporate and wider levels, and how can they be differentiated into macro-, meso- and micro-levels?

Q:

How and to what extent are the policies of Robert Bosch related to theoretical insights on diversity management is this a good policy from your perspective and why (not)?

Q:

How can national laws and societal sentiments influence corporate diversity management to the better or to the worse?