Questions LLC
Login
or
Sign Up
Ask a New Question
Personal Finance
Saving and Investing
Retirement Planning
If you open an IRA at a commercial bank and deposit $1000 in the account per year, how much will be in the account after 20 years if the funds earn 7%?
1 answer
what is 1000(1.07)^20 ?
You can
ask a new question
or
answer this question
.
Similar Questions
a bank account earns 7% annual interest compounded continuously. you deposit $10,000 in the account, and withdraw money
Top answer:
How long
Read more.
The X Bank is a commercial bank that mainly engage in taking deposits and makes loans to corporations. The deposit attracted at
Top answer:
To answer these questions, we need to calculate the future values of the deposits and loans based on
Read more.
Tanisha wants to have $1000 in her bank account in 5 years. How much money should she deposit if her account earns 6% interest
Top answer:
Sum = P(1+i)^n where Sum = the accumulated sum P = the amount deposited i = the periodic decimal
Read more.
Bank A pays 5% simple interest on its deposit account, whereas Bank B pays interest on its deposit account compounded monthly.
Fo
Top answer:
For bank A, amount of $1 after 6 years = 1 + (1)(.05)(6) = 1.30 for bank B, let the monthly rate be
Read more.
One bank pays 5.5 percent annual interest, while a second bank pays
4.5 percent annual interest. Determine how much longer it
Top answer:
amount= 1000; k=0; while amount < 50000 k=k+1; amount =amount*1.045 +1000; end amount k amount =
Read more.
7. Today you open a bank account and make a deposit of $6,000. Then you make the following deposits: in t=1 you deposit $6,500,
Top answer:
3245
Read more.
Which kind of account is liquid?
An interest-bearing checking account An IRA A certificate of deposit A 401(k)
Top answer:
A certificate of deposit (CD) is the kind of account that is considered liquid.
Read more.
Raffles Bank pays 4% simple interest on its deposit account, whereas Bugis Bank pays interest on its deposit account compounded
Top answer:
To determine the quoted and effective interest rates that Bugis Bank should set to match Raffles
Read more.
A bank charges $25 to open an account and $2 per account transaction. Which function describes the cost for opening an account
Top answer:
B(t)=25+2t
Read more.
Tara's bank account contains $250.00. She made only one deposit exactly one year ago. The bank account pays a simple interest
Top answer:
1.08x = 250 x = 250/1.08 x = ?
Read more.
Related Questions
suppose you put money into teo different bank accounts. In account #1 you deposit $500 and you will be earning 6% interest
If you deposit $10,000 in a bank account that pays 10 percent interest annually, how much money will be in your account after 5
Jacob opens a savings account on January 1 with a deposit of $350. He has "direct deposit," in which $25 is deposited every
Suppose you deposit $275.00 in your savings account on December 31.
Your bank pays 3 percent annual interest on savings accounts.
Which option describes a bank savings account? (1 point)
• An account giving 0.05% interest with no other limitations • A
Which option describes a bank savings account?(1 point)
Responses An account giving 0.05% interest with no other limitations An
What's the difference between a deposit and a withdrawal?
A They are different words for the same thing. B A deposit is a type of
Visit any commercial bank in your city.Meet the staff and find out yhe procedure for opening a savings bank account.What
Raymond made a deposit of 10000 into his savings account. Four years later he made a second deposit of 1000. How much is in his
1. A customer opens a checking account and a savings account at a bank. They will deposit a maximum of $600, some in the