A couple just had a baby. How much should they invest now at 5.6% compounded daily in order to have $40,000 for the child's education 17 years from now? Compute the answer to the nearest dollar. (Assume a 365-day year.)

Q: I know that in 10 years I will need $60,000 to buy one Dogecoin. I happen to find an online bank…

A: NOTE: Refresh your page if you can't see any equations. . here we have A=60000 r=22%=0.22  n=2 for…

Q: Samuel is going to invest $4,900 and leave it in an account for 14 years. Assuming the interest is…

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Q: If you have $5000,00 to invest a rate of 3.5% compounded monthly, how long would it take to save…

A: Given investment(P) = $5,000.00 interest rate(r) = 3.5% per annum Final amount(A) = $15,000.00 The…

Q: At what interest rate (compounded weekly) should you invest if you would like to grow $3,830.77 to…

A: To determine the interest rate compounded weekly we should invest if we would like to grow $3,830.77…

Q: A local bank advertises that an account at 9.5% interest yields 9.64% annually. How often is the…

A: Let's solve compound intersect sum.

Q: How much should she set aside now

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Q: If $25,000 is invested at 8% compounded quarterly, how long (in quarters) will it be before it grows…

A: Here,S=35,000P=25,000r=0.08 n=4

Q: 13. If Frank invests $11,400 at 3.7% interest compounded quarterly, how much will his investment be…

A: Given: Frank invests $11,400 at 3.7% interest compounded quarterly. To find: Investment's worth in 9…

Q: Nolan invested $5,300 in an account paying an interest rate of 3.8% compounded annually. Assuming no…

A: The formula for the compound interest is: A=Pert Given that P=5300, A=6880 and r=3.8%  =3.8100…

Q: Grace invested $5,200 in an account paying an interest rate of 4.6% compounded daily. Assuming no…

A: Given; Principal,P=$5200 Time,t=11 years Rate,r=4.6% compounded daily.

Q: If Landon invests $3,000 in a 6-year certificate of deposit at the annual rate of 7.75%, compounded…

A: Let A be the amount of future value of investment,then A can be calculated as follows

Q: Find the accumulated value of an investment of $25,000 for 5 years at an interest rate of 5% if the…

A: the compound interest formula:…

Q: Oliver is going to invest $2,500 and leave it in an account for 18 years. Assuming the interest is…

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Q: Pamela invests $16,300 in a savings account for which interest is compounded monthly, and if the…

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Q: Ian invested $90,000 in an account paying an interest rate of 2.6% compounded quarterly. Assuming no…

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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…

Q: Amelia is going to invest in an account paying an interest rate of 2.3% compounded quarterly. How…

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Q: How much must be invested at the beginning of each year at 11%, compounded annually, to pay off a…

A: Given: The future value is $60,000. The time duration is 8 years. The interest rate is 11%…

Q: Mason is going to invest in an account paying an interest rate of 5.3% compounded quarterly. How…

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Q: What amount invested today would yield $57,000.00 in 11 years if it were invested at 5.90%…

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Q: An investment fund pays 5% per year, compounded semi-annually, on all money invested. How much must…

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Q: Jeremiah invested $70,000 in an account paying an interest rate of 6.8% compounded daily. Assuming…

A: A=$99000  P=$ 70000 r=6.8%=0.068 n=365 ( compounded daily)

Q: How much money should be invested every quarter at 8% per year, compounded quarterly, in order to…

A: The solution for the above question is as shown below.

Q: How much do you need to invest at 3 % interest, compounded quarterly, in order to have $8500 in 10…

A: Given that rate of interest is 3%, the final amount is $8500 and time period is 10 years.

Q: A newborn child receives a $20,000 gift toward a college education from her grandparents. How much…

A: Given that  A baby recives 20000 Interest rate is 7% for 17 years  To find the amount will receive…

Q: Carter invested $16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming…

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Q: Peyton is going to invest $310 and leave it in an account for 16 years. Assuming the interest is…

A: Principal amount:  P = $ 310 Total time period is: t = 16 years Interest is compounded quarterly.…

Q: If $15,000 is invested at 6% compounded quarterly, what is the amount after 5 years? The amount…

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Q: If Frank invests $11,400 at 3.7% interest compounded quarterly, how much will his investment be…

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Q: How much money needs to be invested now to get​ $2000 after 4 years at​ 8% compounded​ quarterly?…

A: Let's find.

Q: If Gabriel wants to accumulate $ 20,000 in 6 years to buy a car, how much would he need to invest…

A: The compound interest formula is A = P1 + rnnt In the formula, A = Accrued amount (principal +…

Q: How much money should John invest today into a fund that earns interest at 3.50% compounded…

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Q: How much should be invested now at 7.45% compounded semiannually to have $39,000 in 20 years?

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Q: How much must be invested at the beginning of each year at 10%, compounded annually, to pay off a…

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Q: Oliver invested $53,000 in an account paying an interest rate of 2.7% compounded daily. Assuming no…

A: Given P=53,000R=2.7%t=20 yearsWe know that compound interest=P(1+Rm)mt Here m is the no.of…

Q: A newborn child receives a $7,000 gift toward a college education from her granparents. How much the…

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Q: At the birth of their child, how much should a couple invest to have $20,000 on the child's 18-th…

A: The principal investment required to get a total amount of $20,000.00 from compound interest at a…

Q: The managers of a pension fund have invested $1,500,000 in U.S. government certificates of deposit…

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Q: A year-end bonus of $20,000 will generate how much money at the beginning of each month for the next…

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Q: How much should a business save at the end of every quater if they need $100,000 in 5 years to pay…

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

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Q: If you have $5000.00 to invest at a rate of 3.5% compounded monthly, how long would it take to save…

A: The savings obtained by investing an amount P at an interest rate of r % (compounded monthly) for t…

Q: If you invest $1000 at 4.5% compounded monthly, how long will it take the account to get to $5000?…

A: Let it takes t time to get that amount  Use the compound interest formula Since it is compounded…

Q: What present value P amounts to $300,000 if it is invested at 8%, compounded semiannually, for 18…

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

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Q: Madison invested $3,300 in an account paying an interest rate of 6.7% compounded daily. Assuming no…

A: The given data is: Medison invested P=$3300 Rate of interest R=6.7% Time t=5 years To find the…

Q: A company needs $4,300,000 in 14 years in order to expand their factory. How much should the company…

A: Future value of investment, FV=$4,300,000 Interest rate per week, r=9.1%52=0.09152=0.00175 No. of…

Q: If $5,000 is invested at 4% compounded quarterly, what is the amount after 9 years? The amount after…

A: According to the given information:The amount invested (P) = $5,000Rate of interest (r) = 4% =…

Q: Find the accumulated value of an investment of $10,000 for 5 years at an interest rate of 5% if the…

A: We will find out the required value.

Q: How much must be invested at the beginning of each year at 9%, compounded annually, to pay off a…

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