Question
In need of your help!! Calculate the amount of money that will be in each of the following accounts at the end of the given
In need of your help!!
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 | 1,000$ | 18% | 1 | 6 |
Vernell Coles | 94,000 | 10 | 6 | 3 |
Tina Elliot | 7,000 | 10 | 2 | 5 |
Wayne Robinson | 121,000 | 8 | 12 | 4 |
Eunice Chung | 32,000 | 18 | 3 | 4 |
Kelly Cravens | 14,000 | 12 | 4 | 5 |
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.)
PLease show your work. Thank you for help!
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