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Author Question: Suppose 100 is deposited in a bank account paying 5 compounded annually. If the interest earned is X ... (Read 104 times)

tth

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Suppose 100 is deposited in a bank account paying 5 compounded annually. If the interest earned is X after 5 years, then the interest earned will be 2X after 10 years.
 
  Indicate whether the statement is true or false

Question 2

Suppose there is no inflation, and the current interest rate is 4 per year. Erin plans to open a savings account and deposit 100 annually for the next 5 years. She plans to leave this money untouched for 10 more years. At the end of the period, the balance of her savings account will be
 
  A) 2500(1.045 - 1).
  B) 2000(1.0415-1).
  C) 2000(1.045 - 1)(1.04)10.
  D) 2500(1.045 - 1)(1.04)10.


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Carissamariew

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tth

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)


Jossy

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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