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Wendy has $23,000.00 invested in a bank that pays 6.75% annually. How long will it take for her funds to triple?
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- Janice has $5,000 invested in a bank that pays 2.8% annually. How long will it take for her funds to triple?Janice has $5,000 invested in a bank that pays 2.8% annually. How long will it take for her funds to triple? 39.78 O 23.99 29.46 25.26 tsWendy has $23,000.00 invested in a bank that pays 9.75% annually. How long will it take for her funds to triple?Round your answer to two decimal places. For example, if your answer is $345.667 round as 345.67 and if your answer is .05718 or 5.718% round as 5.72.
- Charlotte wishes to accumulate $100,000 in a savings account in 10 years. If she wishes to make a single deposit today and the bank pays 4% compounded annually on deposits of this size, how much should Charlotte deposit in the account?Wendy has $8,000.00 invested in a bank that pays 13.75% annually. How long will it take for her funds to triple?Round your answer to two decimal places. For example, if your answer is $345.667 round as 345.67 and if your answer is .05718 or 5.718% round as 5.72. A. 8.53 years B. 6.48 years C. 8.36 years D. 7.50 years E. 10.66 yearsArthur wishes to have 80,000 in her bank account. How much suould she deposit in a bank account that pays 8% compounded quarterly so that after 6 years and 5 months, she can have her desired money? Choices are: 31, 889.7541648, 110.24584 and 50,000
- Mrs Sam has deposited $ 18,000 in a bank at the rate of 7% per annum. Find out how much she will receive after 12 years? Also comment on what effect will she get on her initial deposit if the rate is changing to 10% if she still willing to receive the same sum after 12 years.Ms. Whitmell is helping her two friends, Sally and Johnny, invest money to save for the future. Sally has $1200 and it is going into a bank account that pays 3.8% per annum, compounded quarterly. Johnny has $1500 going into a bank account that pays 2.5% per annum, compounded semi-annually. When, if ever, will Johnny and Sally have the same amount of money in their bank accounts? **Make sure to check the units of your final answer**Please help me answer the following time value of money question. Suppose Nicole deposits $50,000 in an account that pays 9% compounded annually. How long does it take before her balance is $125,000?
- Sean expects to receive $300,000 in 5 years from a trust fund. If a bank loans money at an interest rate of 8.2%, how much money can he borrow from the bank on the basis of this information?Suppose you make an annual contribution of P9,993 each year to a college fund for a niece. He is 6 years now, and you will start next year and make the last deposit when he is 19. The fund is a money market account earning 6.74% per year. What will it be worth immediately after the last deposit?Margaret is planning to invest up to $22,000 in certificates of deposit at City Bank and People's Bank. She wants to invest at least $2000 but no more than $14000 at City Bank. The interest is 6% at City Bank and 7% at People's Bank. This is simple interest for one year. How much should she invest in each bank to maximize her income? What is the maximum income? y