Jean deposited P1,000, P1,500 and P2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit? Note: Interest is already shown in decimal form. Do not round in between solution. Final answer round to the nearest WHOLE NUMBER
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Jean deposited P1,000, P1,500 and P2,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit?
Note: Interest is already shown in decimal form. Do not round in between solution. Final answer round to the nearest WHOLE NUMBER
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- Jean deposited P2,000, P2,500 and P3,000 at the end of the 2nd year, 3rd year and 4th year, respectively in a savings account which earned 0.06 per annum. Determine the future worth of the deposit? Use one of the following formulas. Show complete solution.Assume you deposit $5,700 at the end of each year into an account paying 11. interest. a. How much money will you have in the account in 19 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g b. How much will you have if you make deposits for 38 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g а. Future value $ 324,555.08 b. Future value $ 2,462,818.38If James deposits $2,000.00 in a fixed deposit for 1 year, what will be the difference in the accumulated amounts at 12% p.a. compound interest versus 12% p.a. simple interest? Hence, based on your response what may have contributed to this difference. Lastly, if the deposit period changed from 1 year to 2 years, would your response remain the same?
- On 29 March 2021, Justin deposited R3 500 into a savings account. The simple interest rate agreed upon was 7,5% per year. The accumulated amount in the savings account on 10 October 2021 is [1] R3 640,24. [2] R3 643,09. [3] R3 637,88. [4] R3 649,06. [5] none of the aboveKia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. A. $73,441.24 B. $80,416.53 C. $86,849.86 D. $87,949.86Lee Holmes deposited $16,100 in a new savings account at 8% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $41,100 at 8% interest compounded semiannually. At the end of 6 years, what is the balance in Lee's account? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.) Balance $
- Melisandre deposits $500 in an account paying an effective monthly interest rate 0.62708%. Kobe deposits $2,000 in an account paying an effective interest rate j₁. After 24 years they have the same amount in their accounts. What is j₁? a. 1.91427% b. 1.89687% C. 1.84466% d. 1.75765% e. 1.74025%Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. $95,037.72$103,940.74 $112,256.00$113,556.00Seven years ago Ruby began depositing $500 at the beginning of each month into an account. The interest rate was 1.48% compounded monthly. Answer the following questions, and round all answers to two decimal places where necessary. Choose BGN or END? Ⓒ 1) What is the present account balance P/Y= PV = $ esc P/Y= PV = $ Submit Question 1 C/Y= 2) If she stops making deposits immediately, how much will be in the account in three and a half years from now, if the interest rate remains the same (1.48% compounded monthly)? F1 PMT= $ C/Y= PMT= $ 2 F2 N= #3 N= FV = $ 80 F3 FV = $ I/Y = Q F4 I/Y = % 9 F5 % % F6 F7
- If Mike deposited and withdrew as shown below, how much can he withdraw at the end of 5th year? Assume i=4%. If it is a deposit, then enter the value as a negative number and if it is a withdrawal, then enter the value as a positive number. n 0 1 2 3 4 5 CF 0 -500 -400 500 -500 -500 If the answer is a dollar value then enter the number without any comma, without $sign, without any gap, and with 2 decimal digits, for example, -5896547.12 4 If the answer is a % then enter the number with 3 decimal digits followed by a % sign without any gap, for example 3.123% or 4.210%Amishi deposited $800, at the end of each six months for 19 years in a savings account. If the account paid 8% interest, compounded semiannually, use the appropriate formula to find the future value of her account. (Round your answer to the nearest cent.) $ _____Lee Holmes deposited $15,300 in a new savings account at 8% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,300 at 8% interest compounded semiannually.At the end of 6 years, what is the balance in Lee’s account? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest cent.)