Question: please help with this specific problem! $1,300 was deposited at the end of every three months for 4 years into a fund earning 5.2% compounded

please help with this specific problem!

$1,300 was deposited at the end of every three months for 4 years into a fund earning 5.2% compounded quarterly. After this period, the accumulated money was left in the account for another 3.5 years at the same interest rate. a) Calculate the accumulated amount at the end of the 7.5-year term. $ b) Calculate the total amount of interest earned during the 7.5-year period

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!

Calculate the accumulated value after ten years of payments of $1000.00 made at the ond of each quarter it interest is 4% compoundod somi-annualty. $47,556,49 $48,836.51 $45,536.51 $47,836.50...

Can you please answer the questions below in details 1. Yankee Construction agreed to lease payments of $762.79 on construction equipment to be made at the end of each month for six years. Financing...

1. Find the amount to which quarterly deposits of $400.00 will grow in four years at 6.4% p.a. compounded quarterly. 2. Jim and Sam run a small landscaping company, and are saving $1000.00 every...

Yankee Construction agreed to lease payments of $762.79 on construction equipment to be made at the end of each month for six years. Financing is at 15% compounded monthly. (50 points) a) What is the...

midterm.docx - Word Product Activation FRJ DUT REFERENCES MAILINGS REVIEW VIEW All questions carry equal marks. 1. To finance a vacation in four years, Annie saves $400 at the end of every three...

1. Yankee Construction agreed to lease payments of $762.79 on construction equipment to be made at the end of each month for six years. Financing is at 15% compounded monthly. (50 points) a) What is...

EDIT/FILL IN THE BLANKS Question 1: Find the amount to which semi-annual deposits of $200 will grow in four years at 6.6% p.a. compounded semi-annually. (3 marks) 6.6/2=3.3...

1) A trust fund is set up to make payments of $1500.00 at the end of each quarter for twenty years. Interest on the fund is 7% compounded quarterly. (a) How much money must be deposited into the...

1. Use the formula FV = R[(1 + i)^-1] a. R = $100, i=0.035, n = 10 .08 b. R = $300, i, n = 30 2 .10 c. R = $450, i=, n = 48 Calculate FV for each set of values.

I need help with these business mathematics questions. I have provided each page number and what questions need answered on each screenshot. Please write the page number and what question the answer...

Frenchvanilla Company earned net income of $75,000 during the year ended December 31, 2012. On December 15, Frenchvanilla declared the annual cash dividend on its 5% preferred stock (par value,...

ADistinguish between acute and chronic toxicity.

Bonds payable amounting to 50,000 were retired through issuance of ordinary shares affected statement of cash flows or not

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...