A credit card company wants your business, you accept their offer and use their card, the will deposit 1% of your monetary transaction into a savings account that will earn a guaranteed 5% per year. If your annual transactions total an average of 20,000. How much will you have in this savings plan after 15 vears?
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- Interest can be computed more frequently than one time a year Select one: O True O FalseHow much money will you have in seven yearsif you deposit $7,000 in the bank at 8.5% interestcompounded daily?Assume, you want to get $1,000 after 5 years. How much equal amount of money do you need to deposit in an account that earns 12% annual interest to get that money? Check you answer with interest table.
- URGENT! PLEASE WRITE LEGIBLE. Question Suppose we deposit $1500 into an account that pays a simple interest rate of0.5% each month. Find the amount of interest earned at the end of 3 years?please help me answer this correctly with complete solution thank you! How much should you deposit in an account5% interest semi-annually if you want to have $25,000after 10 years?Suppose you deposited $200 at the end of every year for seven years in an account that earned 6% annual effevtive interest. At the end of seven years, how much would the account be worth?
- 4. How long will it take money to quadruple if it earns 7% compounded semi-annually?How much is accumulated over two years in each of the following savings plans? a.$40at the end of each month for 24 months at 12 percent compounded monthly b. $30 at the end of the first month, $31 the end of the second month, and so forth, increasing by$1per month, at 12 percent compounded monthlyJune has a small house, on a small street, in a small town. If she sells the house now, she will likely get $110, 000 for it. If she waits one year, she will probably receive more- say, $120,000. If she sells the house now, she can invest the money in a 1-year guaranteed growth bond that pays 8% annual interest, compounded monthly. What are the 2 options worth, and which should she choose?
- Jane deposits $5,000 in a bank account that earns 6% interest compounded semi-annually. How much money will she have after 10 years?What is cash equivalents?. Define it with the context of economics.ou decided to go and apply for a credit card at your local financial institution.The Prime rate currently announced on June 1 was 3.25%. You have goodcredit history and a FICO score of 700. The lowest rate that they can offer toindividuals is a 18.99% APR for a credit card that gives cashback on purchasesand rewards. You were offered 21.99% APR for the credit card. How did thelender determine or calculate what rate they should offer you?