Question
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
Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period:
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Account Holder | Amount Deposited | Annual Interest Rate | Compounding Periods Per Year (M) | Compounding Periods (Years) |
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Theodore Logan III | $ | 1,000 | 16 | % | 12 | 6 | ||||
Vernell Coles | 96,000 | 12 | 1 | 2 | ||||||
Tina Elliot | 8,000 | 8 | 4 | 5 | ||||||
Wayne Robinson | 118,000 | 10 | 3 | 5 | ||||||
Eunice Chung | 32,000 | 18 | 2 | 4 | ||||||
Kelly Cravens | 13,000 | 88 | 6 | 4 |
a. The amount of money in Theodore Logan III's account at the end of 6 years will be $_____. (Round to the nearest cent.)
b. The amount of money in Vernell Coles account at the end of 2 years will be $_____. (Round to the nearest cent.)
c. The amount of money in Tina Elliot account at the end of 5 years will be $_____. (Round to the nearest cent.)
d. The amount of money in Wayne Robinsons account at the end of 5 years will be $_____. (Round to the nearest cent.)
e. The amount of money in Eunice Chung account at the end of 4 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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