Question: 1. How much should you deposit into an account that pays 3.6% compounded monthly if you want to have $15,000 ten years from now?

1. How much should you deposit into an account that pays 3.6%

compounded monthly if you want to have $15,000 ten years from now?

1. How much should you deposit into an account that pays 3.6% compounded monthly if you want to have $15,000 ten years from now? Round your answer to the nearest cent. 2. An investment of $4,500 was deposited into an account that pays 7% annual interest. How much money will be in the account 8 years from now? Round your answer to the nearest cent. 3. An amount of $12,000 is deposited into an account with annual interest of 4.2% compounded monthly. In how many years will the amount grow to $18,000? Round your answer to two decimal places. 4. An amount of $12,000 is deposited into an account with annual interest rate of 3.5% compounded continuously. How many years will it take for the amount to double? Round your answer to the nearest tenth. 5. What is the annual percentage yield for money invested at an annual rate of 6.08% compounded quarterly? 6. What is the annual percentage yield for money invested at an annual rate of 6.05% compounded continuously?

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1 To find the amount you should deposit into an account that pays 36 compounded monthly to have 15000 in 10 years we can use the compound interest formula A P1 rnnt Where A is the final amount 15000 P ... View full answer

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