You plan to make five deposits of $1,000 each, one every 6 months, with the first payment being made in 6 months. you will then make no more deposits. if the bank pays 6% nominal interest, compounded semiannually, how much will be in your account after 3 years? one year from today you must make a payment of $4,000. to prepare for this payment, you plan to make two equal quarterly deposits (at the end of quarters 1 and 2) in a bank that pays 6% nominal interest compounded quarterly. how large must each of the two payments be?

Check the calculation below.

Explanation:

a) Amount in account after 3 years:

= $1,000 (1+ 0.03)5 + $1,000 (1+ 0.03)4+ $1,000 (1+ 0.03)3 + $1,000 (1+ 0.03)2 + $1,000 (1+ 0.03)

= $1,159.27 + 1,125.51 + 1,092.73 + 1,060.90 + 1,030

= $5,468.40

b) Calculation of amount of payment:

Let the amount of each of two payment be "P".

Now, $4,000 = P (1 + 0.015)3 + P (1 + 0.015)2

or,$4,000 = 1.0457 P + 1.0302 P

or, P = $4,000 / 2.0759

or, P = 1,927 (Approx)

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.