5 years ago Mayra began depositing money into a bank account every quarter that earns 6% compounded quarterly. The account now has $6000 in it. How much did Mayra deposit into the account monthly? For the question above, what is the value of n?
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- Suppose you deposit $2606.00 into an account today. In 7.00 years the account is worth $3969. The account earned _% per yearSuppose you invest $103 nin a bank account, and five years later it has grown to $137.91. a. What APR did you receive, if the interest was compounded semiannually? b. What APR did you receive if the interest was compounded monthly?In how many years will it take $18939accumulate to $34247 when you deposited in a savings account that earns 2.9 % compounded annually
- Use the following information to answer the question that follows: 5 years ago Mayra began depositing money into a bank account every quarter that earns 6% compounded quarterly. The account now has $6000 in it. How much did Mayra deposit into the account quarterly? For the question above, what is the value of r ? r=0.6 r=0.015 r=6 r=24 r=0.06A savings account earns 2.5% interest. If $3000 is invested, How many years is it until each of the following amounts is on deposit? (a) $3394 (b) $3655 (c) $4035 (d) $5165 ?JP just made a deposit of $4,321 is made today in an account earning 5.3% APR compounded annually. What is the future value of JP's deposit in 15 years? Enter answer in dollars, rounded to the nearest dollar.
- In how many years will it take $17054 accumulate to $32133 when you deposited in a savings account that earns 3.4 % compounded annually ?2. Simple versus compound interest Financial contracts involving investments, mortgages, loans, and so on are based on either a fixed or a variable interest rate. Assume that fixed interest rates are used throughout this question. Addison deposited $1,000 in a savings account at her bank. Her account will earn an annual simple interest rate of 5.8%. If she makes no additional deposits or withdrawals, how much money will she have in her account in 9 years? O $1,061.36 O $1,661.01 O $158.00 O $1,522.00 Now, assume that Addison's savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on her $1,000 balance. All other things being equal, how much money will Addison have in her account in 9 years? O $1,058.00 O $1,522.00 O $96.34 O $1,661.01Suppose you invest $100 in a bank account, and five years later it has grown to $134.39. What APR did you receive if the interest was compounded semiannually? What APR did you receive if the interest was compounded monthly
- If you wish to accumulate $246,000 in 17 years, how much must you deposit today in an account that pays an annual interest rate of 15%? $18,287.81 $22,859.77 $30,403.49 $25,877.26 $37,947.22How much would you have to deposit into a bank at the beginning of every 6 months to have a total of $10 000 in 8 years if interest is 7% compounded quarterly? $459.47 $475.15 $625.00 $475.69How much will be in Amber's bank account after 2 years if the account pays 8% compounded semi-annually if she deposits $800 into the account semi-annually? $10,247.26 $3,397.17 $6,523.69 $8,762.81