Question: You have deposited $ 2 , 0 0 0 into an account which earns 4 . 0 % compounded quarterly. How much will your account

You have deposited $2,000 into an account which earns 4.0% compounded quarterly. How much will your account be worth in 5 years?
$4,382
$2,323
$2,440
$2,433
You have deposited $2,000 into an account which earns 4.0% compounded

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:

Figure 4-38 includes an EER diagram for a medium-size software vendor. Transform the diagram into a relational schema that shows referential integrity constraints (see Figure 4-5 for an example of...

Q:

BUSINESS MATH PLEASE ANSWER CORRECTLY! Over the past 15 years Randall has deposited $100 a month into his savings account that earns 4.5% compounded semiannually.How much is his investment worth?...

Q:

A small business owner contributes $1000 at the end of each quarter to a retirement account that earns 4% compounded quarterly. (a) How long will it be until the account is worth $150,000? (Round...

Q:

If $2,800 is deposited at the end of each quarter in an account that earns 4% compounded quarterly, after how many quarters will the account contain $61,000.00? It will take quarters. (Round to 2...

Q:

1. A person needs $62000. He/she makes deposits of $1100 at the end of each quarter in an account which earns 10% compounded quarterly. a. How many full deposits are required? full deposits b. Find...

Q:

can you help me with MAT 143 WHICH FORMULA SHOULD I USE? I=PrtP=(1+nr)ntAA=P(1+rt)Y=(1+nr)n1 A=P(1+nr)nt A=nrP[(1+nr)nt1] A=Pert PMT=[1(1+nr)nt]P(nr)P=[(1+nr)nt1]A(nr) A=P(1+rt) Y=(1+nr)n1...

Q:

Need some help with these math questions, thanks! 5. [l1.25 Points] HARMATHAP11 6.3.013. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER If $4500 is deposited at the end of each quarter in an account that...

Q:

If $1500 is deposited at the end of each quarter in an account that earns 7% compounded quarterly, after how many quarters will the account contain $60,000? (Round your answer UP to the nearest...

Q:

I am using Excel to try and solve these problems but can find the answers or figure out why my answers are wrong, please help. 1. Today, your roommate purchased an annual perpetuity of $1,000. The...

Q:

5. a) You plan to save $2000 for a rip. You decide to deposit money into an account that pays a simple interest of 4.5%. How much should you deposit now in order to have $2000 in 9 months? b) How...

Q:

Name the formula that you use to solve the following problem. How much money should be deposited today in an account that earns 7% compounded quarterly so that it will accumulate to $6500 in 5 years?...

Q:

Gizzardi Company has projected the following sales of Product #431 for the rst four months of 2010: January, 8,000 units; February, 7,600 units; March, 11,200 units; April, 5,800 units; and May,...

Q:

In September 2015, the United States Environmental Protection Agency (EPA) released a notice of violation of the Clean Air Act to the German automaker Volkswagen Group. The agency reported that...

Q:

Find the following article by Erin Halma on the LawNow website: " Vehicle Insurance: What are you paying for anyway?" 2 0 April 2 0 2 1 . Based on this article, all but one of the following...

Q:

manufacturer uses approximately 3 5 , 2 4 8 silicon chips annually. The chips are used at a steady rate during 3 5 0 working day al holding cost is $ 4 per chip, ordering cost is $ 1 7 9 , and lead...

Q:

What makes Zipcar an attractive employer for which to work?

Q:

Evaluate Figure 6-9; what other questions would you ask, and why?

Q:

Give some examples of how to use interest inventories to improve employee selection. In doing so, suggest several examples of occupational interests that you believe might predict success in various...