Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For the 1st question part A is solved only need answer of prt b ..money for 12 months ..i solved that part and the answer

image text in transcribedimage text in transcribed

For the 1st question part A is solved only need answer of prt b ..money for 12 months ..i solved that part and the answer is Amount after 12 years is $8386.45...this answer wrong so please give corect answer and also round off the cent value i need anser direct ansr ll be ok if its 100 percnt cnfrm

Finance, Suppose that $6,800 is invested at 3.5% annual interest rate, compounded monthly. How much money will be in the account in (A) 7 months? (B) 12 years? (A) Amount after 7 months: 9 (Round to the nearest cent.) In order to accumulate enough money for a down payment on a house, a couple deposits $303 per month into an account paying 6% compounded monthly If payments are made at the end of each period, how much money will be in the account in 3 years? Type the amount in the account \$ (Round to the nearest dollar)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The World Is Your Oyster The Guide To Finding Great Investments Around The Globe

Authors: Jeff D. Opdyke

1st Edition

0307381048, 978-0307381040

More Books

Students also viewed these Finance questions

Question

4. Identify cultural variations in communication style.

Answered: 1 week ago