Question
In non bold format is the correct answer to the problem can you explain to me how they got it. Company A deposit $10,000 now
In non bold format is the correct answer to the problem can you explain to me how they got it.
Company A deposit $10,000 now in the bank. Company A will keep deposits $1500 at the end of each payment period. The interest rate and the payment period information are given in the following table. How much will the company have after 5 years in the bank account? Assume each year contains 52 weeks/365 days, each quarter contains 13 weeks/90 days, each month contains 4 weeks/30 days.
$1500 will be paid... (PP) | Rate is 12 % per year with the compounding period below (CP) | Future Value At the end of year 5 |
7 | Simi Annually | Yearly | $36,681.96 |
8 | Simi Annually | Simi Annually | $37,679.67 |
Simi Annually | Quarterly | $37,916.07 | |
9 | Simi Annually | Monthly | $38,079.87 |
10 | Simi Annually | Weekly | $38,144.26 |
11 | Simi Annually | Daily | $38,160.95 |
12 | Simi Annually | Continuously | $38,163.73 |
13 | Quarterly | Yearly | $55,740.50 |
14 | Quarterly | Simi Annually | $57,450.86 |
14-1 | Quarterly | Quarterly | $58,366.67 |
15 | Quarterly | Monthly | $58,596.16 |
16 | Quarterly | Weekly | $58,686.35 |
17 | Quarterly | Daily | $58,709.72 |
18 | Quarterly | Continuously | $58,713.62 |
19 | Monthly | Yearly | $131,974.67 |
20 | Monthly | Simi Annually | $136,535.63 |
21 | Monthly | Monthly | $140,671.47 |
22 | Monthly | Weekly | $140,860.09 |
23 | Monthly | Daily | $140,914.98 |
24 | Monthly | Continuously | $140,923.45 |
25 | Weekly | Yearly | $513,145.51 |
26 | Weekly | Simi Annually | $531,959.48 |
27 | Weekly | Monthly | $508,184.99 |
28 | Weekly | Weekly | $551,767.41 |
29 | Weekly | Daily | $551,951.35 |
30 | Weekly | Continuously | $551,982.06 |
31 | Daily | Yearly | $3,495,807.35 |
32 | Daily | Simi Annually | $3,616,265.50 |
33 | Daily | Monthly | $3,693,302.11 |
34 | Daily | Weekly | $3,753,120.26 |
35 | Daily | Daily | $3,768,316.68 |
36 | Daily | Continuously | $3,768,521.66 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started