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Calculate the amount of money that will be in each of the following accounts at the...

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Question

Finance

Calculate the amount of money that will be in each of thefollowing accounts at the end of the given deposit? period:

Account Holder

Amount

Deposited

Annual

Interest Rate

Compounding

Periods Per Year? (M)

Compounding

Periods? (Years)

Theodore Logan III

?$

900

16%

?

2

6

Vernell Coles

96,000

8

4

2

Tina Elliot

9,000

12

12

6

Wayne Robinson

120,000

10

6

5

Eunice Chung

29,000

18

3

6

Kelly Cravens

13,000

10

1

4

Answer & Explanation Solved by verified expert
3.9 Ratings (725 Votes)
whereA AmountP Principali rate of interestn compounding    See Answer
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Transcribed Image Text

Calculate the amount of money that will be in each of thefollowing accounts at the end of the given deposit? period:Account HolderAmountDepositedAnnualInterest RateCompoundingPeriods Per Year? (M)CompoundingPeriods? (Years)Theodore Logan III?$90016%?26Vernell Coles96,000842Tina Elliot9,00012126Wayne Robinson120,0001065Eunice Chung29,0001836Kelly Cravens13,0001014

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