Question
(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
(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 | $ | 1 comma 0001,000 | 1616 | % | 11 | 1010 | ||||
Vernell Coles | 94 comma 00094,000 | 1010 | 22 | 33 | ||||||
Tina Elliot | 8 comma 0008,000 | 88 | 33 | 55 | ||||||
Wayne Robinson | 119 comma 000119,000 | 1010 | 1212 | 44 | ||||||
Eunice Chung | 30 comma 00030,000 | 1616 | 44 | 66 | ||||||
Kelly Cravens | 17 comma 00017,000 | 88 | 66 | 55 |
a.The amount of money in Theodore Logan III's account
at
the end of
1010
years will be
$nothing.
(Round to the nearest cent.)
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