Finance

1 4. (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: Amount Annual Compounding Compounding Account Holder Deposited Interest Rate Periods Per Year (M) Periods (Years) Theodore Logan III $ 1,000 16% 10 Vernell Coles 94,000 8 3 3 Tina Elliot 7,000 10 12 6 Wayne Robinson 120,000 12 4 3 Eunice Chung 28,000 12 6 5 Kelly Cravens 15,000 10 2 4 a. The amount of money in Theodore Logan III's account at the end of 10 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 6 years will be $ (Round to the nearest cent.) d. The amount of money in Wayne Robinson's account at the end of 3 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.)