The balance of a saving account at a certain bank is $ 280 today. The customer knows that the balance will gain 4 percent interest each year for the next 2 years. The customer uses the equation `B=280(x)^(y)` to model the balance, B of the account after y years. to the nearest dollar, what does the customer estimate the value of the account will be at the end of two years if no money is deposited or withdraw ? (Note: Disregard the $ sign when gridding your answer.)
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Jessica opened a bank account that earns 2 percent interest compounded annually. Her initial deposit was $100 , and she uses the expression $100(x)t to find the value of the account after t years. What is the value of x in the expression?
At a certain bank, month held in account X earns a monthly interest equal to 2 percent of the original investment, while account Y earns a monthly interest equal to 2 reprecent of the current value of the account. If $500 is invested into each account, what is the positive difference between the value of account X and account Y after three years ? (Round you answer to the nearest dollar and ignore the dollar sign when gridding you response.)
Pramod deposits ₹ 600 per month in a Recurring Deposit Account for 4 years. If the rate of interest is 8% per year, calculate the maturity value of his account.
The amount of money in the account every year, when Rs 10000 is deposited at compound interest at 8 % per annum.
Some banks chargea fee on saving accounts that are left inactive for an extended period of time. The equation y=5,000(0.98)^(x) represents the value, y, of one account that was left inactive for a period of x years. What is the y-intercepts of this equation and what does it represent?
The maturity value of a recurring deposit account is ₹ 11,364 in 4 years. If the monthly deposit is ₹ 200 , find the rate of interest.
Sasha invested $1,200 in a savings account at an annual interest rate of 1.6% compounded annually. She made no further deposits or withdrawals. To the nearest dollar, how much more money did she have in the account after 3 years than after 2 years?
Jessica opened a bank account that earns 2 percent interest compounded annually. Her initial deposit was $100 , and she uses the expression $100(x)t to find the value of the account after t years. Jessica’s friend Tyshaun found an account that earns 2.5 percent interest compounded annually. Tyshaun made an initial deposit of $100 into this account at the same time Jessica made a deposit of $100 into her account. After 10 years, how much more money will Tyshaun’s initial deposit have earned than Jessica’s initial deposit? (Round your answer to the nearest cent and ignore the dollar sign when gridding your response.)
Mr. Richard has a recurring deposite account in a bank for 3 years at 7.5% p.a. simple interest. If he gets Rs 8325 as interest at the time of maturity, find the monthly deposite.
