(Related to Checkpoint 5.3) (Compound interest with non-annual periods) Calculate the amount of money that will...
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(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: Annual Compounding Amount Deposited $ 1,100 Compounding Periods (Years) Interest Rate Periods Per Year (M) 2 6 95,000 3 5 7,000 118,000 3 28,000 5 17,000 Account Holder Theodore Logan III Vernell Coles Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens. 16% 8 8 8 18 12 4 1 12 6 3 3 b. The amount of money in Vernell Coles' account at the end of 3 year(s) will be $ 120482.97. (Round to the nearest cent.) c. The amount of money in Tina Elliot's account at the end of 5 years will be $10285.3. (Round to the nearest cent.) d. The amount of money in Wayne Robinson's account at the end of 3 years will be $ 149887.97. (Round to the nearest cent.) (Round to the nearest cent.) e. The amount of money in Eunice Chung's account at the end of 5 years will be $ (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: Annual Compounding Amount Deposited $ 1,100 Compounding Periods (Years) Interest Rate Periods Per Year (M) 2 6 95,000 3 5 7,000 118,000 3 28,000 5 17,000 Account Holder Theodore Logan III Vernell Coles Tina Elliot Wayne Robinson Eunice Chung Kelly Cravens. 16% 8 8 8 18 12 4 1 12 6 3 3 b. The amount of money in Vernell Coles' account at the end of 3 year(s) will be $ 120482.97. (Round to the nearest cent.) c. The amount of money in Tina Elliot's account at the end of 5 years will be $10285.3. (Round to the nearest cent.) d. The amount of money in Wayne Robinson's account at the end of 3 years will be $ 149887.97. (Round to the nearest cent.) (Round to the nearest cent.) e. The amount of money in Eunice Chung's account at the end of 5 years will be $
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Calculate the amount of money in each account at the end of the given deposit period with compound i... View the full answer
Related Book For
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
Posted Date:
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