Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. one university student wants to deposit $50.00 int

One university student wants to deposit $50.00 into an account its savings in each quarterly...

60.1K

Verified Solution

Question

Finance

One university student wants to deposit $50.00 into an account its savings in each quarterly period for 6 years. Rate interest is 8% per annum compounded quarterly. (i) What is the balance of his savings account 6 years from now? (ii) What is the total interest rate that the student will earn?

Please also show step-by-step and formula use because I am a slow learner.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

The valence shell electronic configuration transition elements is 151 1 ns 2 ns np5 3...

Algebra
1.2K views

Find the coefficient of the 6th term of the expanded binomial, (2c d).

Physics
1.2K views

A cue ball traveling at 5.93 m/s makes a glancing, elastic collision with a target ball...

Biology
1.2K views

The ultimate source of energy for the Calvin Cycle is A the sun B the...

Geometry
1.2K views

2 Let 0 be an acute angle Complete the following table 0 30 45 60...

Statistics
1.2K views

A boy owns 1 pairs of pants 5 shirts 8 ties and 6 jackets How...

Calculus
1.2K views

Suppose a parabola has equation 24 y 3 x 8 1 The vertex is at...

Accounting
1.2K views

At January 1, 2020, Krispy Corp. had 3,000,000 shares of common stock and 100,000 shares...

Accounting
1.2K views

! Required information [The following information applles to the questions displayed below.] A...

Accounting
1.2K views

Identifying the Parts of the Cost Formula; Calculating Monthly, Quarterly, and Yearly Costs Using a...

Accounting
1.2K views

Finance
1.2K views

this is there is for this question (Related to Checkpoint...