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Q: Jim Moore opened a new savings account. He deposited \$12,000 at 12 percent compounded semiannually. At the start of the fourth year, Jim deposits an additional \$50,000 that is also compounded
semiannually at 12 percent. At the end of 6 years, the balance in Jim Moore's account is: (Use the tables in the handbook)
A: And the answer is, e. None of the above. Source:
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User: Jim Moore opened a new savings account. He deposited \$12,000 at 12 percent compounded semiannually. At the start of the fourth year, Jim deposits an additional \$50,000 that is also compounded semiannually at 12 percent. At the end of 6 years, the balance in Jim Moore's account is: (Use the tables in the handbook)

Weegy: And the answer is, e. None of the above. Source:
Koolsum|Points 1423|

User: Compounding always reduces the principal.

User: Interest = principal rate divided by the time

Weegy: I=PNR/100.So p=I*100/N*R
mythmoh|Points 5249|

User: The rate to be used in compounding is found by taking the annual rate divided by the number of times compounded per day

Weegy: That is Tue.
jeifunk|Points 4019|

User: Compound value = \$ amount divided by table factor

User: Compound value = \$ amount divided by table factor true or false

User: By using the table in the handbook, the table factor for compounding \$4,000 at 9 percent compounded annually for one year is 1.0900

Weegy: True. The table factor for compounding \$4,000 at 9 percent compounded annually for one year is 1.0900.
jeifunk|Points 4019|

User: The nominal rate is really the true rate.

Weegy: I'm not sure what your asking. [ In finance and economics, nominal interest rate or nominal rate of interest refers to two distinct things: the rate of interest before adjustment for inflation (in contrast with the real interest rate); or, for interest rates "as stated" without adjustment for the full effect of compounding (also referred to as the nominal annual rate). An interest rate is called nominal if the frequency of compounding (e.g. a month) is not identical to the basic time unit (normally a year). ]
jcr.2008|Points 382|

User: Using the interest for daily compounding (in your handbook) \$700 would grow to \$790 at the end of 3 years, at 8% interest

Weegy: Auto answ
scijoe21|Points 1835|

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Asked 7/3/2012 3:20:18 AM
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