You deposit $11,000 in an account that pays 6% interest compounded quarterly. A. Find the future value after one year. B. Use the future value formula for simple interest to determine the effective...


You deposit $11,000 in an account that pays 6% interest compounded quarterly.<br>A. Find the future value after one year.<br>B. Use the future value formula for simple interest to determine the effective annual yield.<br>a Click the icon to view some finance formulas.<br>.....<br>A. The future value is $ 11675 .<br>(Round to the nearest cent as needed.)<br>B. The effective annual yield is %.<br>(Round to the nearest tenth as needed.)<br>Formulas<br>In the provided formulas, A is the balance in the account after t years, P is the<br>principal investment, r is the annual interest rate in decimal form, n is the number<br>of compounding periods per year, and Y is the investment's effective annual yield<br>in decimal form.<br>nt<br>A<br>A = Pert<br>nt<br>A:<br>P =<br>Y =<br>- 1<br>1+<br>Print<br>Done<br>

Extracted text: You deposit $11,000 in an account that pays 6% interest compounded quarterly. A. Find the future value after one year. B. Use the future value formula for simple interest to determine the effective annual yield. a Click the icon to view some finance formulas. ..... A. The future value is $ 11675 . (Round to the nearest cent as needed.) B. The effective annual yield is %. (Round to the nearest tenth as needed.) Formulas In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. nt A A = Pert nt A: P = Y = - 1 1+ Print Done

Jun 04, 2022
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