#4: On the day you were born your grandmother put $10,000 in a bank account for you that earned 5% interest per year. How much would you have on your 18th birthday? When you turned 65?

Q: You invest $500 into an account that collects 1% interest each month. If you add an addi- tional $50…

A: Solution: If you invest $ 500 in an account you will collect at the end the monthly rate of interest…

Q: Carl placed $3,200 in a savings account that compounds interest annually at a rate of 1.0%. How much…

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Q: On Melissa's 6th birthday, she gets a $5000 CD that earns 7% interest, compounded semiannually. If…

A: `Given  P=$5000     r=7% = 0.07  compounded semiannually n=2  t=5 years

Q: How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: Here, we need to find the amount we deposit at the end of each month into an investment account that…

Q: When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded…

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Q: Gallant invests starting at age 25 until he retires at age 65. If he invests $2400 each yearat 9.6%…

A: J

Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

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Q: You want to have $100,000 when you retire in 10 years. If you can earn 3% interest compounded…

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Q: You began saving for retirement at age 25 by contributing $550 per month at an APR of 6% compounded…

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Q: On Melissa's 6th birthday, she gets a $2000 CD that earns 3% interest, compounded semiannually. If…

A: `Given P=$2000, i=3%=0.03, t=13,n=2(compounded semi annually) Formula for amount is A=P1+rnn×t

Q: You want to have $200,000 when you retire in 25 years. If you can earn 9% interest compounded…

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Q: You want to have $500,000 when you retire in 30 years. If you can earn 4% interest compounded…

A: We have to set up the compound formula first.

Q: 2. At an interest rate of 2% per month, the money will double in value in how many months?

A: The compound interest formula for an amount P compounded per month at a rate of r% for n months is…

Q: Breanna went to a bank and obtained a personal loan with an interest rate of 6.4% compounded…

A: Here we can use the fact that if bi-weekly interest rate is r then effective annual interest rates…

Q: At age 35 you start saving for retirement. If your investment plan pays an APR of 6% and you want to…

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Q: f you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: In this question, the concept of compounded interest is applied. Compounded Interest  Compound…

Q: You deposit $300 in an account earning 6% interest compounded annually. How much will you have in…

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Q: Matilda wishes to retire at age 67 with $1,300,000 in her retirement account when she turns 28 she…

A: Introduction: Suppose, a person deposits an amount P at rate of r% compound interest compounded n…

Q: A major shipping company is planning to purchase new cargo ships. It wants to borrow $1100 million…

A: Here we use compound interest formula to find the interest that company have to pay quarterly.   So,…

Q: Mrs. Duzon wants to invest 25,000 in a bank for 3 years at 2% compounded quarterly -what is the…

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Q: How much money should you deposit in a bank so that it will accumulate to P100,000 at 1% simple…

A: As per our guidelines we are supposed to answer only one question. Kindly re-post other question as…

Q: How much should you put in an investment paying a simple interest rate of​ 5% if you needed​ $4000…

A: Consider the provided question, Given, rate of interest = 5% time = 18 months = 1812 years Future…

Q: O $30,000 is invested at 6% interest compounded quarterly, Using the formula A= P(1+)nt determine…

A: A=31500$

Q: An amount of $44,000 is borrowed for 8 years at 4.75% interest, compounded annually. If the loan is…

A: A=P(1+r)t P is the amount borrowed.r is the rate of interest.t is the time.

Q: Suppose you want to have $400,000 for retirement in 35 years. Your account earns 5% interest. how…

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Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How much money will be…

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Q: You deposit $400 in an account earning 7% interest compounded annually. How much will you have in…

A: Given  Principal P=400 Rate of interest r=7% year t=10 number of compounded n=1 we know that…

Q: 4. When Sarah was 7 years old, her parents invested $10 000 for her in a plan that earns 5 % per…

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Q: a.) How long will it take for P800 to earn P240, if it is invested at 6.5% simple interest?

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Q: -) How long will it take a saving account which is simple interest paid per year, to double in value…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer one question at a…

Q: 18. The APR of Bessie's savings account is 6%, and interest is compounded monthly. If the principal…

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Q: You deposit $400 in an account earning 4% interest compounded annually. How much will you have in…

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Q: (a) If you invest $8,000 in an account that earns an APR of 4% simple interest, what will be the…

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Q: 2.) Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of…

A: Amount=$150,000 Present value=$1000 Rate of interest =5% compounded quarterly.…

Q: At age 25, you start work for a company that deposits $10,000 into a retirement account that pays a…

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Q: Mr. and Mrs. Maglalang decide to set aside ₱ 500,000 today and place it on a bank savings account…

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Q: 4. When Derrick turned age 15, his grandparents put $10,000 into an account that yielded 1.4%…

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Q: Blue Spruce Motel will need to replace all of its bedding in six years, at a cost of $20,000. How…

A: Blue Spruce Motel will need to replace all of its bedding in six years, at a cost of $20,000.

Q: How many days did it take Romy to place 120,000 in an investment house that pays 8% simple interest…

A: If p= principal amount R= rate of interest t= time And I is the interest after time t at a r% rate…

Q: You deposit $300 in an account earning 7% interest compounded annually. How much will you have in…

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Q: Johnny borrowed 15,000 from a lending company with annual simple interest rate of 9.5%. If hhe had…

A: The formula for the amount of simple interest after t years is: A=P+Prt100 Here, P is the principal…

Q: A credit card had an APR of 23.83% all of last year and compounded interest monthly. What was the…

A: GIVEN   APR = 23.83%   COMPOUNDED MONTHLY  MEANS  n = 12 EFFECTIVE INTEREST = ?

Q: On Melissa 6th birthday, she gets a $2000 CD that earns 7% interest, compounded semiannually. If the…

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Q: 2. ABC bank pays interest at the rate of 2% compounded quarterly. How much will Ken have in the bank…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: You deposit $200 in an account earning 4% interest compounded annually. How much will you have in…

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Q: МАЗА $50 is invested biweekly in an ordinary simple annuity, earning 3.5% interest per annum,…

A: given P= $50 interest r = 3.5% =35/100 time t = 10years  n = 26 (biweekly in a year) n t = 260…

Q: A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1200 in 10…

A: The formula for Simple Interest is given by S.I=PRT100 where P is the principle, R is the rate and T…

Q: You want to be able to withdraw $45,000 each year for 25 years. Your account earns 10% interest. How…

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