1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
OverLord2011 [107]
2 years ago
6

Ashley deposits $10 000 at the end of each month for 6 times at rate of 5% compounded monthly. How much will be in her account

Mathematics
1 answer:
xz_007 [3.2K]2 years ago
4 0

The future values of Ashley's periodic deposits under the five scenarios are stated in the deposit table as follows:

<h3>Deposit Table:</h3>

Item     Initial       Periodic      Deposit    Interest    Future Value    Interest

         Deposit     Deposit        Period        Rate                                    ($)

a.      $10,000     $10,000     6 months        5%        $61,774.51      $1,774.51

b.     $10,000     $10,000     3 months        5%      $30,502.78       $502.78

c.      $10,000    $10,000     6 months        5%        $51,774.51     $1,522.42

d.    $20,000    $10,000      6 months       5%        $72,201.71     $2,201.71

e.   $10,000     $10,000     6 months       5%/6%  $60,803.78       $803.78

<h3>What is the future value?</h3>

The future value of a periodic investment represents the present value of cash flows compounded at an interest rate into the future.

The future value is computed using the FV formula or factor.

It can also be computed using an online finance calculator as follows:

<h3>Data and Calculations:</h3>

Periodic Deposit = $10,000

Investment period = 6 months

Interest rate = 5% compounded monthly

<h3>a) for illustration:</h3>

N (# of periods) = 6 months

I/Y (Interest per year) = 5%

PV (Present Value) = $0

PMT (Periodic Payment) = $10,000

<u>Results</u>:

FV = $61,774.51

Sum of all periodic payments = $60,000 ($10,000 x 6)

Total Interest = $1,774.51

<h3>Other Special Cases:</h3>

c) Interest on $10,000 for 3 months is $1,522.42 ($1,774.51 - $252.09).

d)                             Future Value      Interest

5% with $20,000   $82,285.04    $2,285.04

5% with  $10,000     (10,083.33)          (83.33)

Total for 6 months   $72,201.71     $2,201.71

e)                            Future Value       Interest

5% for 3 months    $30,502.78       $502.78

6% for 3 months     $30,301.00       $301.00

Total for 6 months $60,803.78      $803.78

Learn more about the computation of future values at brainly.com/question/24703884 and brainly.com/question/12979998

#SPJ1

You might be interested in
If the simple interest on ​$4000 for 2 years is ​$400​, then what is the interest​ rate?
ivanzaharov [21]

Step-by-step explanation:

the answer is 5 percentage because the formula is 100 * 400 over 4000 * 2

6 0
2 years ago
6 colums
OverLord2011 [107]

Answer:

5

Step-by-step explanation:

5 x 5 = 25

x x x x x

x x x x x

x x x x x

x x x x x

x x x x x

7 0
3 years ago
Nina walks on the path around the pond at the city park.
PtichkaEL [24]

Answer: 0.5

Step-by-step explanation:

8 0
3 years ago
A factory produced a batch of handheld video games, but 4% of the games were found to be defective. If the batch had 250 games i
nirvana33 [79]

Answer:

the answer is 240

Step-by-step explanation:

If 4% are defective, then out of a batch of 250, the number of defective is

4% x 250 = 4/100 x 250 = 10 defective

So, the number of not defective is 250 - 10 = 240 good!

8 0
3 years ago
Is there any option to to 1 not be equal to 1?
r-ruslan [8.4K]

No.  1 is is always equal to to 1 .

4 0
3 years ago
Other questions:
  • What is 1/10 of 7 is it 0.7?
    13·1 answer
  • HELP!!! Chords AB and BD intersect in circle O as shown in the diagram. Two of the angle measurements are marked. What is mCED?
    13·1 answer
  • Simplify the radical 9 squrt 75
    7·1 answer
  • The graph shows the relationship between the distance a truck can travel and the amount of gasoline used.
    8·2 answers
  • A restaurant sells tokens that customers used to play games while waiting for their orders which option is the best deal justify
    9·1 answer
  • Which points would be considered outliers?
    7·1 answer
  • What is 30mm x 3cm 3cm?
    11·1 answer
  • Can anyone help me please !
    14·1 answer
  • Answer quickly!!!!!!!!
    15·2 answers
  • Help help math math math
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!