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Essay Available:
Pages:
2 pages/≈550 words
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Check Instructions
Style:
APA
Subject:
Mathematics & Economics
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 8.64
Topic:

BDO Time Deposit Saving Interest Rate

Essay Instructions:

I am struggling with this so I am hoping there is a writer exceptional at College Algebra. There are questions that need answered and then a report written based on the answers to the questions.
DIRECTIONS: (ALSO SEE ATTACHED)
M4 Assignment: Financial Statement
Financial Report
Money is a central concept for everyone no matter what age you are. In this project, you will explore exponents using the compound interest formula to make conclusions on investments.  
In this project, you will:
Use exponents to calculate the amount of interest earned on an investment.
Evaluate formulas with exponents.
Convert interest rates to decimals.
Apply the order of operations.

To complete this project you will:
Complete the Financial Report Worksheet to guide you in developing your budget. Be sure to show all work!
Complete a 2-page, double-spaced, APA-formatted report. In the report, you need to present your findings and explain your conclusions on interest rates and compounding frequency. Thoughts to include in the report include: Is a savings account a good way to earn interest? When looking at opening a savings account, what should you look for: higher interest rate or more frequent compounding?
Be sure to cite your sources for the interest rates from the chosen financial institution!

Essay Sample Content Preview:

Financial Report Worksheet
(Name of Institution)
(Course/Subject)
Professor’s Name
(Date)
Financial Report Worksheet
Directions: Complete the financial report worksheet to help you with your calculations to create the APA report. 1. Go to your financial institution’s website or a local financial institution’s website and find the interest rate and compounding frequency (monthly, quarterly, annually, and so on) for a savings account. Record that here:
BDO Time Deposit Saving Interest Rate
Range

30 Days

60 Days

90 Days

180 Days

360 Days

1,000 to below 10,000

0.1250%

0.1250%

0.1250%

0.1250%

0.1250%

10,000 to below 50,000

0.1250%

0.1250%

0.1250%

0.1250%

0.1250%

50,000 to below 100,000

0.1250%

0.1250%

0.1250%

0.1250%

0.1250%

100,000 to below 200,000

0.1250%

0.1250%

0.1250%

0.2500%

0.2500%

200,000 to below 500,000

0.1250%

0.1250%

0.1250%

0.2500%

0.2500%

500,000 to below 1,000,000

0.1250%

0.1250%

0.1250%

0.2500%

0.2500%

1 Million to below 3 Million

0.2500%

0.2500%

0.2500%

0.3750%

0.3750%

3 Million to below 5 Million

0.2500%

0.2500%

0.2500%

0.3750%

0.3750%

5 Million to below 10 Million

0.2500%

0.2500%

0.2500%

0.5000%

0.5000%

10 Million to below 20 Million

0.2500%

0.2500%

0.2500%

0.5000%

0.5000%

20 Million and over

0.2500%

0.2500%

0.2500%

0.5000%

0.5000%

2. Use the compound interest formula: A=P1+rnnt where r is the interest rate as a decimal, n is the number of times it is compounded in the time frame, t is the amount of time, and P is the starting value. Calculate your balance if you invest $1,000 for 1 year.
Using BDO Saving Interest Rate:
A=P1+rnnt
A=10001+0.0012511x1
A=1,0001.25
3. Using the compound interest formula, calculate your balance if you invest $1,000 for 5 years.
A=P1+rnnt
A=10001+0.0012511x5
A=1,0006.265645
4. Now select a new compounding period (monthly, quarterly, annually, and so on) and redo your calculations from number 2 & 3, using the same interest rate.
P=1000 in 1 y...
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