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3. (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

3.

(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:

Account Holder

Amount

Deposited

Annual

Interest Rate

Compounding

Periods Per Year (M)

Compounding

Periods (Years)

Theodore Logan III

$

900

16

%

6

5

Vernell Coles

94,000

8

4

3

Tina Elliot

7,000

10

1

5

Wayne Robinson

119,000

8

2

4

Eunice Chung

32,000

12

12

5

Kelly Cravens

13,000

8

3

4

a.The amount of money in Theodore Logan III's account at the end of 5 years will be $ ? . (Round to the nearest cent.)

b.The amount of money in Vernell Coles' account at the end of 3 year(s) will be $ ? . (Round to the nearest cent.)

c. The amount of money in Tina Elliot's account at the end of 5 years will be $ ? . (Round to the nearest cent.)

d.The amount of money in Wayne Robinson's account at the end of 4 years will be $ ? . (Round to the nearest cent.)

e.The amount of money in Eunice Chung's account at the end of 5 years will be $ ? . (Round to the nearest cent.)

f.The amount of money in Kelly Cravens' account at the end of 4 years will be $ ? . (Round to the nearest cent.)

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