Assume you make monthly deposits of $3,000 now into an account that pays 12% per year, compounded monthly. If you want to know the total amount after 2 years, the value of interest rate (i) you should...


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Assume you make monthly deposits of $3,000 now into an account that pays 12% per year,<br>compounded monthly. If you want to know the total amount after 2 years, the value of interest<br>rate (i) you should use in the F/P factor is:<br>Select one:<br>a. 1%<br>b. 3%<br>C. 12%<br>d. 24%<br>E O O OO<br>

Extracted text: Assume you make monthly deposits of $3,000 now into an account that pays 12% per year, compounded monthly. If you want to know the total amount after 2 years, the value of interest rate (i) you should use in the F/P factor is: Select one: a. 1% b. 3% C. 12% d. 24% E O O OO
In the situation where Ahmad are depositing $1,000 per month in a savings account that pays 6<br>percent interest per year compounded quarterly. Here payment period is greater than<br>compounding period.<br>Select one:<br>True<br>O False<br>

Extracted text: In the situation where Ahmad are depositing $1,000 per month in a savings account that pays 6 percent interest per year compounded quarterly. Here payment period is greater than compounding period. Select one: True O False

Jun 03, 2022
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