A bank note will be worth $75,500 when it matures in 5 years. If the note pays 4.96% per year compounded continuously, determine how much an individual must pay now for the note. (Round your answer to the nearest cent.) $

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A: Given that, $6600  invested for 4 years at 12% compounded   compounded  monthly.    want to…

Q: A grandparent puts $4,000 into a college education fund for a grandchild. If the fund earns 2.75%…

A: total amount = P(1+r/100)n here r = 2.75/365 = 0.007534 n = 365*18 = 6570 total amount = 4000(1+…

Q: An amount of $43,000 is borrowed for 6 years at 6.5% interest, compounded annually. If the loan is…

A: Interest is compounded annually, therefore n=1

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A: Given: The total cost of four-year private education is estimated to be $50,000. The rate of the…

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A: Consider the provided question, Given, Interest rate(r)  =  5% = 0.05 Compounded periods = 1000 So,…

Q: lohn and Rosamond want to retire in 10 years and can save $190 every three months. They plan to…

A: Given: Periodic payment (m0=$190Rate(r)=7.72%Time(t)=10 yearsNumber of payments per year(n)=5

Q: The Armstrongs wish to establish a custodial account to finance their children's education. If they…

A: Given: The Armstrongs wish to establish a custodial account to finance their children's education.…

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A: Given that $19,000 is invested in an account for 15 years. We have to find value of the investment…

Q: If you save $270 per quarter for retirement in an account that earns 8% interest per year compounded…

A: Given; Saving $270 per quater Rate of interest = 8% Compounded quaterly, n=4 Number of years=…

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Q: You currently have $30,000 in your savings account. At what nominal interest rate compounded monthly…

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Q: If you deposit $300 each quarter into an account earning 3.2% compounded quarterly, how many years…

A: The future value (FV) of an annuity A with interest rate per period of r, over n periods is given…

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Q: If you have $40,000 in a bank account that is paying an interest rate of 6 percent that is being…

A: Given:- If you have $40,000 in a bank account that is paying an interest rate of 6 percent that is…

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Q: In order to pay for college, the parents of a child invest $30,000 in a bond that pays 9% interest…

A: Given : P = 30,000 r = 9% = 9/100 = 0.09  t = 19 Semi-annually means  n = 2

Q: Hannah deposits OMR 500 in an account earning 5% compounded half yearly. What will be the interest…

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Q: Find the present value that will generate the future value of $2,000 at 7% compounded yearly for 8…

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A: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

Q: How much should a mother invest at the time her daughter is born in order to provide her with…

A: A mother invest at the time her daughter is born in order to provide her with$95,000 at age 18. The…

Q: A MasterCard statement shows a balance of $560 at 13.9% compounded monthly. What monthly payment…

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Q: A homeowner planning a kitchen remodeling can afford a $800 monthly payment. How much can the…

A: Let's use the annuity formula   We need to calculate the PV

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Q: An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly.…

A: From the given data

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A: Compound interest is a form increments in the savings where each increment is added regularly to the…

Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

A: Given: Principle amount (P)= $1,000,000 Rate of interest r=12% Time period= 20 years

Q: If $26,000.00 is invested in an account for 10 years. Find the value of the investment at the end of…

A:

Q: If $6,000 is invested in an account for 20 years. Find the value of the investment at the end of 20…

A: (a) Given that, the initial investment is P=$6,000, time is t=20 years and the interest rate is 5%.…

Q: Find the balance if $23000 is invested in an account paying 6 % interest compounded quarterly for 11…

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Q: If $7,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

A: Thanks for the question :)And your upvote will be really appreciable ;)

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Q: Suppose that you invest $3,000 at 5% interest compounded monthly. How much money will be in your…

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Q: A newborn child receives a $8000 gift toward a college education from her grandparents. How much…

A: Topic = Algebra

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Q: A homeowner planning a kitchen remodeling can afford a $100 monthly payment. How much can the…

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Q: A homeowner planning a kitchen remodeling can afford a $700 monthly payment. How much can the…

A: The compound interest formula is defined as follows. A=P1+rnnt   where, A is the final amount P is…

Q: What interest will be earned if $6600 is invested for 7 years at 10% compounded monthly? (Round your…

A:

Q: At the age of 24, you start depositing $200 each month into an IRA that pays 3.75% interest,…

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Q: Find the balance if $24000 is invested in an account paying 7 % interest compounded semi-annually…

A: Given that: Principal=$24000 Rate of interest=7% semi anually and time=8 years

Q: If $2,000 is invested for 5 years at 8% compounded quarterly, how much interest (in $) will be…

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Q: A stock broker allocated $100,000 to an account earning 4% per year compounded continuously. If no…

A: Given problem Given that   A stock broker allocated $100,000 to an account earning 4% per year…

Q: If $17,000 is invested at 6% compounded monthly, what is the amount after 6 years? The amount after…

A:

Q: find the value of a $3000 certificate in 2 years, if the interest rate is 10% compounded annually…

A: Formula used;-          Amount = Principal(1+rate/100) n(no.of years)

Q: If you leave $1400 in an account earning 7% interest, compounded daily, how much money will be in…

A: To find the money  in the account after 4 years.