A man decided to save $200 at the end of each month. If the bank he desposited money in pays 0.25% compounded monthly, how much will his money be at the end of 6 years?

Q: a)How much would you need to deposit in an account now order to have $6000 in the account in 10…

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Q: Suppose you invest $190 a month for 5 years into an account earning 8% compounded monthly. After 5…

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Q: 14 ​years? ​(c) How much would she lose or gain over 14 years by investing in her​ sister's firm?…

A: Solution:-

Q: ada deposited an amount of money in a bank 7 years ago. If the bank had been paying interest at the…

A: Let initial deposit is P After 7 years , value of investment =A=$15,000 Annual rate of interest is…

Q: Anitemwill need replacing in 6 years from now at a cost of P128,000.00. How much should the owner…

A: By Bartleby policy I have to solve only first one as these 2 are unrelated problems     *** This is…

Q: Finance. A person wishes to have $20,300 cash for a new car 6 years from now. How much should be…

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Q: After several sleepless nights of online poker, you’ve made quite a bit of money. You deposit the…

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Q: Jake Werkheiser decides to invest $8000 in an IRA at the end of each year for the next 14 years. If…

A: (a) It is given that, Jake Werkheiser is ready to invest $8000 year till 14 years in an IRA that…

Q: Eugene began to save for his retirement at age 32, and for 10 years he put $ 275 per month into an…

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Q: E-Loan, an online lending service, recently offered 48-month auto loans at 4.8% compounded monthly…

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Q: Jake Werkheiser decides to invest $9000 in an IRA at the end of each year for the next 11 years. If…

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Q: Donna deposits $20,000 into an account that pays simple interest at a rate of 4% per year. Tony…

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Q: Grandparents plan to open an account on their grandchild's birthday and contribute each month until…

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Q: You would like to have $950,000 when you retire in 40 years. How much should you invest each quarter…

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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…

Q: A new employee charged $6700 on his credit card to relocate for his first job. After noticing that…

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Q: You start a retirement fund. You can afford to make monthly deposits of $200 into an account earning…

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Q: A woman deposits $12,000 at the end of each year for 15 years in an investment account with a…

A: Given that a woman deposits $12,000 at the end of each year for 15 years in an investment account…

Q: A new employee charged $4130 on his credit card to relocate for his first job. After noticing that…

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Q: An investment of $4,500 was deposited into an account that pays 3.7% compounded daily. ... How much…

A: Answering An investment of $4,500 was deposited into an account that pays 3.7% compounded daily. ...…

Q: Hazel is 24 and wants to retire at age 62. She deposits $1,100 at the end of every 6 months into a…

A: We have to find how much money does she have in the fund when she retires, size of the monthly…

Q: Zero-Coupon Bonds How much should a $10,000 face-value, zero-coupon bond, maturing in 10 years, be…

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Q: my question states : A 529 Plan is a college savings plan that allows relatives to invest money to…

A: We need to find the investment.

Q: A community outreach program wants to set up a scholarship fund for students who demonstrate…

A: Formula for compound interest is,Intererst=invested amount1+interest ratenumber of times interest…

Q: achel starts an IRA individual retirement account at age 26 to save for retirement she deposits $450…

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Q: Your mom decided to join their office cooperative and agreed to contribute P1000 per month beginning…

A: To write the correct option.

Q: A bank offers an investment account with an annual interest rate of  1.28%  compounded monthly.…

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Q: Finance. A person wishes to have $16,800 cash for a new car 6 years from now. How much should be…

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Q: ow much should you invest each month in order to have $300,000 if your rate of return is 7.8%…

A: To calculate the interest earned and investment amount to get $300,000 in the account if the…

Q: You have $500,000 saved for retirement. Your account earns 10% interest compounded monthly. How much…

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

Q: A woman deposits $11,000 at the end of each year for 10 years in an account paying 5% interest…

A: Given, a woman deposits $11,000 at the end of each year for 10 years in an account paying 5%…

Q: E-Loan, an online lending​ service, recently offered 60-month auto loans at 4.5% compounded monthly…

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Q: Jeff wishes to accumulate $8,500 in 6 years. Use the appropriate formula to find the sinking fund…

A: Here we want to find the annuity amount that is to be paid in arrear in order to accumulate 8500 in…

Q: How much will you need to save per month to have $200,000 after 12 years, if your account earns 5%…

A: This question can be solved using the concept of annuity.

Q: want to be able to withdraw $40,000 each year for 20 years. My account earns 4% interest compounded…

A: To determine the amount that needed to invest in the beginning in order to withdraw $40,000 each…

Q: Appa deposits $4000 in an account earning 3.6% interest compounded monthly. How much will Appa have…

A: Formulas: For Appa Monthly  compound intrest      A=P(1+(r/12))12t For Dailyly  compound intrest…

Q: Typos borrowed $16500 to pay for the wedding of his daughter. Typos repair the loan after 3 years…

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Q: 7. You have $750,000 at retirement and you want to draw interest only to live on. How much can you…

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Q: nance. A person wishes to have $27,100 cash for a new car 4 years from now. How much should be…

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Q: ou decide to buy a new iPhone with your credit card. The iPhone you want costs $1450, and your…

A: Given Cost of iPhone (P)=$1450 Interest (i)=12.99%              =0.129912              =0.01083…

Q: Parents wish to have $140,000 available for a child's education. If the child is now 8 years old,…

A: Let's find amount that should be set aside.

Q: Jealous of Fry’s money, Leela starts making $5 daily deposits into a savings account that earns…

A: From the given information, it is observed that P = $5, r = 3.65%, that is, r = 0.0365, and t = 100…

Q: Kimberly Miller Compounding - Solve for Principal Nov 09, 10:13:12 PM Watch help video Brayden is…

A: Solve for principal amount

Q: Grandparents plan to open an account on their grandchild's birthday and contribute each month until…

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Q: An investment company pays 7% compounded semiannually. You want to have $8,000 in the future.

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Q: Jake Werkheiser decides to invest $9000 in an IRA at the end of each year for the next 8 years. If…

A: Sub part (a) Since, Jake invest $9000 at the end of each year not beginning. So problem is related…

Q: How much should you invest each month in order to have $800,000 if your rate of return is 7.8%…

A: Monthly saving is calculated using PV formula of annuity PMT=PV×rn1-1+rn-nt Where,…

Q: A student opens a credit card and immediately maxes it out by putting $500 on it in order to pay for…

A: amount deposit = $500 interest rate = 25.99% compounded monthly time =12 months

Q: the yearly 2. How much will be in an account after 10 years if it is compounded 4 times per year,…

A: The principal amount is $100, compounded 4 times per year, the yearly interest rate 3%