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Please calculate the amount of money that will be in each of the following accounts at the end of the given deposit period. For example:
Please calculate the amount of money that will be in each of the following accounts at the end of the given deposit period. For example: Theodore Logan III's account at the end of 10 years will be
Please note that there should be 6 answers in total one for each account holder.
(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: \begin{tabular}{lcccc} Account Holder & AmountDeposited & AnnualInterestRate & CompoundingPeriodsPerYear(M) & CompoundingPeriods(Years) \\ Theodore Logan III & $900 & 16% & 2 & 10 \\ Vernell Coles & 96,000 & 8 & 12 & 2 \\ Tina Elliot & 7,000 & 10 & 4 & 5 \\ Wayne Robinson & 119,000 & 12 & 3 & 3 \\ Eunice Chung & 29,000 & 12 & 1 & 5 \\ Kelly Cravens & 16,000 & 10 & 6 & 5 \\ \hline (Click on the icon in order to copy its contents into a spreadsheet.) \end{tabular}Step by Step Solution
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