(a) If you invest $5,000 in an account that earns an APR of 3% with quarterly compounding, what will be the account balance after 10 years? (b) If you invest $5,000 in an account that earns an APR of 3% simple interest, what will be the account balance after 10 years?

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A: When the interest is compounded, then the formula used is A=P1+rnnt, where, A is the final amount, P…

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Q: (a) If $1000 is invested at 5% compounded monthly, howmuch is there after 8 months?(b) If you want…

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Q: An investor needs $21,000 in 12 years. (a) What amount should be deposited in a fund at the end of…

A: Here, FV=21,000rate=6%=0.06time=12 Quarterly rate is to be calculated. So, n=4.

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A: the compound interest formula:…

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Q: Against expert advice, you begin your retirement savings at age 40. You plan on retiring at age 65.…

A: Recall that the annunity formula is given byPn = d(1+r1212n -1r12Where d is the monthly deposit…

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A: Principal amount = 100000

Q: 1. Ken is paying 2,500 every 3 months for the amount he borrowed at an interest rate of 8%…

A: Let us find the loan amount for the following EMI program in the next steps.

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Q: The desired accumulated amount is $60,000after 11 years invested in an account with 2.3% interest…

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Q: n wants to buy a new sports car, and he estimates that he'll need to make a $4,550.00 down payment…

A: The amount invested to buy a new sports car is given by, A=Pert Here, A=amount invested is $4550.…

Q: A person needs $15 000 for a down payment on a car. If the person invests $10 000 at 9% interest,…

A: Given  A=15000 P=10000 r=9%=0.09

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A: Given amount is A=$500,000. Since you have posted a question with multiple sub-parts, we will solve…

Q: How much interest will you owe if you borrow $2700 for 3 years at a simple interest rate of 7%…

A: Given that  principal amount=P=$2700Time =T=3yearsrate of interest=R=7%find interest

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Q: A company needs $6,500,000 in 7 years in order to expand their factory. How much should the company…

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Q: (a) How long does it take for an investment to double invalue if it is invested at 8% compounded…

A: a). Given, r=8%=0.08,  n=12 Let P be the principal amount. Now, A=P1+rnn·t⇒2P=P1+0.081212t   ∵Double…

Q: 1. A man invests $10, 000 in an account that pays 8.5% interest per year, compounded quarterly. What…

A: *** As per our guidelines we are supposed to answer only one question at a time. Since you have…

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

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Q: (a) Martha invests an amount of $10000 at 3.5% compounded quarterly. What is the value of her…

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Q: (A) What is the present value of an annuity that pays $X per month for 10 years, where X is 2082 if…

A: Here we use geometric series formula.

Q: If you have an investment of $1000 that grows at a rate of 6%, compounded annually, how much will it…

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Q: 2. Suppose Carlo has P34,500 to invest but wants P40,000 for a new pair of branded rubbershoes. He…

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Q: Tom needs $2500 for a future project. He can invest $2000 now at an annual rate of 10%, compounded…

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Q: How long did it take for an investment of $23,750 to grow to at least $27,000 at 2.25% compounded…

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Q: If an annual interest rate is 12% and is compounded monthly, then what is the interest rate per…

A: NOTE: Refresh your page if you can't see any equations. . the annual rate is 12% and is compounded…

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Q: A company needs $8,000,000 in 5 years in order to expand their factory. How much should the company…

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Q: A company needs $4,600,000 in 11 years in order to expand their factory. How much should the company…

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Q: Given the situation , choose the correct formula to solve the problem: With a  present value amounts…

A: The formula for the present value of annuity problem is given by PV=P1−1+r−nr Here, PV=$130,000 Rate…

Q: Ahmed invested $1,542 in a savings account, and three and a half years later his investment amounted…

A: This question is related to compound interest, We will solve it using given information.

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Q: If 23200 dollars is invested at an interest rate of 7 percent per year, find the value of the…

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Q: How much do you have to invest at 2.4% interest compounded quarterly if you need to have $300,000…

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Q: Morgan is going to invest $8,200 and leave it in an account for 10 years. Assuming the interest is…

A: A=$16500 P=$8200 t=10 years n=12 (compounded monthly) We have to found intrest rate

Q: Jerome will be buying a used car for ​$8,000 in 3 years. How much money should he ask his parents…

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Q: How long did it take for an investment of $25,000 to grow to at least $28,000 at 2.75% compounded…

A: Given: A = $28000 P = $25000 r = 2.75% We know the quarterly compound interest formula as A=P1+r44t.…

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: b. Suppose you as a businessman leave an initial amount of $600 in a savings account at an annual…

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Q: If you invest $1,000 at 10% interest compounded every year. a)  How long will it be until your…

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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: At what interest rate will P120,000 earn P37,800 interest after 3 % years? Discount P9,000 for 9…

A: We need to find interest rate for P120,000 amounting to P37,800 interest after 3.5 years Need to…