« previous next »

Author Question: Rikki deposited 5,000 into an account with an interest rate of 6 for 7 years. If the interest is ... (Read 102 times)

joblessjake

  • Hero Member
  • *****
  • Posts: 555
on: Jun 24, 2018
Rikki deposited 5,000 into an account with an interest rate of 6 for 7 years. If the interest is compounded quarterly, how many compounding periods are there?
 A) 1 period
  B) 7 periods
  C) 14 periods
  D) 28 periods

Question 2

What is the compound interest earned at the end of a 3-year period on a loan with an original principal of 4,500 at 6.75 compounded annually?
 A) 303.75
  B) 628.00
  C) 911.25
  D) 974.14


tennis14576

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

joblessjake

  • Hero Member
  • *****
  • Posts: 555
Reply #2 on: Jun 24, 2018
Correct answers!


tennis14576

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jun 24, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar History of the number of observed sunspots during the last 250 years, which shows the ~11-year solar
Layers are deposited parallel to Earth’s surface. Younger layers are deposited on top of older layer Layers are deposited parallel to Earth’s surface. Younger layers are deposited on top of older layer
How to calculate simple interest (Part 5; r = I/Pt) How to calculate simple interest (Part 5; r = I/Pt)
How to calculate present value using the compound interest formula (Question 1) How to calculate present value using the compound interest formula (Question 1)
Saving Rate by Decile of Income per Capita Saving Rate by Decile of Income per Capita
The chromosome locations for BRCA1 and BRCA2. Together, these genes account for the majority of case The chromosome locations for BRCA1 and BRCA2. Together, these genes account for the majority of case
Video: Cellular Defects - Osteoblasts, Osteoclasts and Osteocytes

For a complete list of videos, visit our video library