Find the INTEREST you will earn on $6500 if you invest the money in a 30-month permit of deposit earning 5% compounded quarterly. Round your answer to the nearest cent.
Question 9 answers
Answers: at the come to an end your deposit will be = 6500(1 + 0.05/4) ^10
= 7359.76
interest will be earn = 7359.76 - 6500 =859.76
Note : 2.5years(30 months) x 4 = 10
6 500 * ((1.05^(1 / 4))^((30 / 12) * 4)) = 7 343.22109
843.22 of interest.
The first poster compounded annually.
If you invest $6500 in a 30-month licence of deposit earning 5% compounded quarterly, your total will be $7,359.76 after 2 years and 6 months. You will earn $859.76 interest. Not so much... The interest earn is $1,820.54
$7,359.77.
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Question 9 answers
Answers: at the come to an end your deposit will be = 6500(1 + 0.05/4) ^10
= 7359.76
interest will be earn = 7359.76 - 6500 =859.76
Note : 2.5years(30 months) x 4 = 10
6 500 * ((1.05^(1 / 4))^((30 / 12) * 4)) = 7 343.22109
843.22 of interest.
The first poster compounded annually.
If you invest $6500 in a 30-month licence of deposit earning 5% compounded quarterly, your total will be $7,359.76 after 2 years and 6 months. You will earn $859.76 interest. Not so much... The interest earn is $1,820.54
$7,359.77.
Resolved Questions: