Question: If you deposit $ 1 , 0 0 0 today into an account earning an annual rate of return of 1 0 percent , in

If you deposit $1,000 today into an account earning an annual rate of return of 10percent, in the third year how much interest would be earned? How much of the total is simple interest and how much results from compounding of interest?
Question content area bottom
Part 1
If you deposit $1,000 today into an account earning an annual rate of return of 10%, in the third year how much interest would be earned?

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:

Lori Harpoolian (John's sister) had the steely blue eyes that seemed to be a prerequisite for high priced corporate attorneys. Those eyes would bore into the soul of her managerial victims, forcing...

Q:

2 6 (Related to checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Amount...

Q:

this is one question (Related to Checkpoint 5.5) (Solving for n ) How many years will it take for $480 to grow to $1,032.39 if it's invested at 10 percent compounded annually? The number of years it...

Q:

If you deposit $1000 today into an account earning an annual rate of return of %10, in the third year how much interest would be earned? (Related to Checkpoint 5.2) (Future value) (Simple and...

Q:

(Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $10,000 today into an account earning an annual rate of return of 9 percent, in the third year how much...

Q:

please answer all!): (Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $1,000 today into an account earning an annual rate of return of 11 percent, in the third...

Q:

Related to Checkpoint 5.2)(Future value)(Simple and compound interest)If you deposit $15,000 today into an account earning an annual rate of return of 8 percent, in the third year how much interest...

Q:

If you deposit $5,000 today into an account earning an annual rate of return of 10 percent, in the third year how much interest would be earned? How much of the total is simple interest and how much...

Q:

If you deposit $5,000 today into an account earning an annual rate of return of 9 percent, in the third year how much interest would be earned? How much of the total is simple interest and how much...

Q:

(Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $1,000 today into an account earning an annual rate of return of 9 percent, in the third year how much...

Q:

If you deposit $20,000 today into an account earning an annual rate of return of 9 percent, in the third year how much interest would be earned? How much of the total is simple interest and how much...

Q:

Show that (A+)+ = A.

Q:

Four unrelated shareholders own Benton Corporations 400 shares of outstanding stock. As indicated below, Benton redeems a total of 100 shares for $500 per share from three of its shareholders. Each...

Q:

Find all points on x y = e x y where the tangent ins is todestals Select one: a . ( 0 , 1 ) b . ( 0 , 0 ) c . ( 1 , 0 ) d . none of the above

Q:

Sal is a 90 percent-owned subsidiary of Pig Corporation, acquired at book value several years ago. Comparative separate-company income statements for the affiliates for 2011 are as follows: On...

Q:

Suppose we are interested in bidding on a piece of land and we know one other bidder is interested. The seller announced that the highest bid in excess of $ 10,000 will be accepted. Assume that the...

Q:

The port of South Louisiana, located 54 miles along the Mississippi River between New Orleans and Baton Rouge, is the largest bulk cargo port in the world. The U.S. Army Corps of Engineers reports...

Q:

Cedarville Company pays its office employee payroll weekly. Below is a partial list of employees and their payroll data for August. Because August is their vacation period, vacation pay is also...

Q:

R.E.M., a calendar-year corporation and Athens, Georgia band, recently sold tickets ($20,000,000) for concerts scheduled in the United States for next year and the following year. For financial...

Q:

Which of the following is considered a service? Select one A . A marketing clastry B . Lamp C . Motorcycle D . Potato chips E . Environmentalism

Q:

=+d. Is the headline type broken in phrases, for easier comprehension?

Q:

=+c. Does the visual support the headline? Do they work as a single, conceptual unit?

Q:

=+b. Does the layout guide the reader to the most important points first (referred to as visual hierarchy)?