Business, 16.03.2020 18:49, Cocco

Assume that a one-year CD purchased for $1000 pays an APR of 10% that is compounded semi-annually. How much is in the account at the end of each compounding period? (Calculate the interest and compound it each period rather than using the compound interest formula. Round your answers to the nearest cent.)

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answered: k123loveme

The amount in the one-year CD account at the end of each compounding period is:

1st compounding period = $1,050.

2nd compounding period = $1,102.50

Data and Calculations:

Value of one-year CD = $1,000

APR = 10%

Interest for the 1st six months = $50 ($1,000 x 10% x 1/2)

Value of account at 1st compounding period = $1,050 ($1,000 + $50)

Interest for the 2nd six months = $52.50 ($1,050 x 10% x 1/2)

Value of account at 1st compounding period = $1,1,02.50 ($1,050 + $52.50)

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answered: jasminesilva07oql1a9

At the end of the first compounding period: $1,050.00At the end of the second compounding period: $1,102.50

Explanation:

1. First period:

Investment: $1,000 APR = 10% = 0.1 compounded semi-annually. Semi-annually compound interest: 0.1 / 2 = 0.05Interest earned at the end of the first period: $1,000 × 0.05 = $50.00Amount in the accoun at the end of the first period:

$1,000.00 + $50.00 = $1,050.00

2. Second period

Amount in the account beginning the second period: $1,050.00Semi-annually compound interest: 0.1 / 2 = 0.05Interest earned in the second period:

$1,050.00 × 0.05 = $50.00 = $52.50

Amount in the account at the end of the second period:

$1,050.00 + $52.50 = $1,102.50

answered: Guest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answered: Guest

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total

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Assume that a one-year CD purchased for $1000 pays an APR of 10% that is compounded semi-annually. H...