A car depreciates at the rate of 5% every year. If a car costs 650, 000 now, what is its value on the 5th year?

Q: On​ Melissa's 6th​ birthday, she gets a ​$6000 CD that earns 6​% ​interest, compounded quarterly. If…

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Q: At age25 ​, someone sets up an IRA​ (individual retirement​ account) with an APR of 5​%. At the end…

A: Given that, APR = 5% = 0.05 Monthly investment (PMT) = $ 45 Time period (t) = 65 - 25 = 40 years We…

Q: a) If a car depreciates at 15% per year, how long is it until it is worth half of its original…

A: a) Given that a car depreciates at 15% per year. To find the time when it is worth half of its…

Q: Due to depreciation, the cost of a car decreases by 10.2% every year. How much is the estimated…

A: The solution is given below.

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: What is the rate on an investment that doubles $9916 in 20 years? Interest is compounded quarterly.

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Q: How much was initially invested if the value of the investment is at P200,000

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Q: a particular car is said to depreciate 15 percent each year. if the car new value is at 20,000, what…

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Q: An initial deposit of $1300 earns 7 % interest, compounded monthly. How much will be in the account…

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Q: A bank account uses simple interest. If 10,000 is deposited at a rate of 4% interest, how much money…

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Q: A bank deposit paying simple interest grew from an initial amount of $1200 to $1290 in 3 months.…

A: According to question given that initial amount grew $1200To  $1290 in 3 months.

Q: A stock that pays an annual dividend of $0.57 per share has a current price of $32.25. Find the…

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Q: a bank deposit paying simple interest grew from an initial sum of 1000.00 to 1075.00 in 9 months.…

A: given data  initial amount  = 1000 simple interest = 75 time                  = 9 months formula for…

Q: During a prolonged recession, property values on Long Island depreciated by 8% every six months. If…

A: Consider the formula for future value: F=P1-rnnt Where, F = Future value P= Present value n= Number…

Q: What is the simple interest rate on a $1350 investment paying $319.82 interest in 10.3 years?  %…

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Q: On Melissa's 6th birthday, she gets a $4000 CD that earns 3% interest, compounded semiannually. If…

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Q: alue of your investment in the winning team of the National Softball League increased to $1,800 from…

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Q: A job pays $30,000 for the first year with an annual increase of 4% per year beginning in the second…

A: Given data - first year salary -30,000 dollar, increment of 4% of every year. The above sum can be…

Q: How many years if the computed total conversion periods is 51 when compounded quarterly?

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Q: A deposit of $3, 000 earns 2% interest compounded semiannually. How much money is in the bank after…

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Q: A new car is purchased for 20000 dollars. The value of the car depreciates at 12.5% per year. What…

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Q: What is the simple interest rate on a $2100 investment paying $771.75 interest in 10.5 years?…

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Q: If Damon invests $1600 for 1 year in a savings account that pays a simple interest rate of 1.09%…

A: Definition used -            Simple interest -                            SI=Prt100…

Q: 3600 dollars is placed in an account with an annual interest rate of 9%. How much will be in the…

A: Given that $3600 is placed in account with an annual interest rate of 9%.

Q: A bond was purchased on January 1, 2016 for $750. If its value increases by 8.2 % every year, how…

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Q: A new car is purchased for $50, 000 and over time its value depreciates by one half every 5 years.…

A: The initial value of the car is 50,000 After 5 years the car value is depreciated by one half so…

Q: A salesman earns ​$60,000 in commission in his first year and then has his commission reduced by…

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Q: Mrs. Stevens bought a Mustang for $ 25,000. If it depreciates at a rate of 15% a year. What is the…

A: Depreciation amount is equal to 15% of 25000.

Q: The pawnbroker charged Elisa a simple interest rate of % (Round to the nearest whole number as…

A: We have to find the simple interest  rate.

Q: A new car is purchased for $35,000 and over time its value depreciates by one half every 6 years.…

A: Given  Initial Cost of car = $35000 its value depreciates by one half every 6 years

Q: The interest rate on a car loan has increased 50% over the last 10 years and is now 9%. VWhat was…

A: According to the given information it is required to find the rate 10 years ago, when the interest…

Q: Based on making 46000 a year and saving 16% of that monthly income what is the monthly amount that…

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Q: A deposit of $2, 150 earns 6% interest compounded quarterly. How much money is in the bank after for…

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Q: Lucy deposits $8000 into an account that pays simple interest at a rate of 3% per year. How much…

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Q: During a prolonged recession, property values on Long Island depreciated by 4% every 6 months. If my…

A: Given-House cost/present value(PV)=$200,000n=6 yearsdepreciated rate(r)=4%frequency(f)=6 monthin…

Q: . If a $28,700 salary is increased 5 percent each year to keep ahead of inflation, what will this…

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Q: A $40,000 investment in a mutual fund doubled to $80,000 in 5 years. What was the investment’s…

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Q: At age 22​, someone sets up an IRA​ (individual retirement​ account) with an APR of 8​%. At the end…

A: Formula used:Future value of an ordinary Annuity:

Q: An account that yields 6% simple interest annually has $2,000. How much will be in the account after…

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

A: The compound interest accrued on a principal amount P, at rate R% after time t years is given as…

Q: find the amount of money borrowed if after seven years the simple interest charged is $9000 at a…

A: simple interest formula:I=P*r*twhere, I=Interest amountP=principal amountr=interest ratet=time

Q: Mr. X intends to earn P150,000 in interest each year. How much needs he invests for a year at an…

A: Since you have asked multiple questions in a single request, we would be answering only the first…

Q: If $5000 is loaned for 5 months at a 5% annual rate, how much interest is earned?

A: Given: principal amountp=$5000, rate of interestr=5% per year and timet=5 months we know that simple…

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: Starting at the age of 40, an average man loses 5% of his hair every year. Atwhat age should an…

A: Consider the exponential decay formula,

Q: A new car is purchased for \$41,000$41,000 and over time its value depreciates by one half every 3…

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Q: What nominal rate, compounded semi-annually, yields the same amount as 16% compounded quarterly?

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Q: Mr. Jolo deposited an amount of P20,000.00 in a bank that gives 3% annual interest compounded…

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Q: A home purchased for $300,000 depreciated 8% over a 1-year period. What was the value of the home…

A: We have been given that a home was purchased at a value of $300000 and its value depreciated at a…