A person invests $5750 in a mutual fund today and gains 3.5% interest compounded monthly. Create equation for amount of money in mutual fund A after a time of T years. How much would be in mutual fund after 14 years? How much would be in mutual fund after 22 years?

Q: A sum of $50,000 is invested in a savings account which pays interest at a rate of 9% per year…

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Q: At what nominal annual rate of interest will money double itself in four years, three months if…

A: Let teh present value = PAmount after the given time = ATime, t = 4 years 3 months           = 51…

Q: Bob invests $1500 at an annual rate of 2%. Find the balance after 10 years, when the interest is…

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Q: After several years of working, Katy has saved $125,000. If she invest that $125,000 in savings fund…

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Q: If you leave $5400 in an account earning 4% interest, compounded daily, how much money will be in…

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Q: After several years of working, Katy has saved $125,000. If she invests that $125,000 in a savings…

A: Katy has saved money $ 125,000        Invested Money at interest = 4 % per year        Time  =…

Q: How long (in years) will it take to quadruple an investment made at a 9% interest rate if the…

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Q: As the prize in a contest, you are offered $30,000 now or $58,800 in 9 years. If the money can be…

A: Given     investment=$30000 Time (t)=9yeays Rate (r)=7% Here compound annually so  A1=P(1+r/100)^t…

Q: You deposit $5,000 in a savings account that earns 6% simple interest per year. How many years will…

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Q: A bank pays interest at the rate of 6% per year, compounded monthly. If a person deposits $2500 in a…

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Q: An Investment of $10,000 yields 8% interest compounded quarterly. What will be the accumulated…

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Q: Find the amount of money that results if $100 is invested at 4% compounded quarterly for 2 years.

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Q: After 10.32 years, Mary's money became 2 % of its initial value. The money was compounded…

A: here we will use compound interest formula  If P is the amount invested  r is rate of interest per…

Q: Sophie invested $170 in an account paying an interest rate of 2% compounded continuously. Wyatt…

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Q: The doubling time of an investment with continuous compound interest is 12.5 years. If the…

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Q: What would $1000 become in a saving account at 3% per year for 3 years when the interest is not…

A: Given that: Principal amount, P = $1000                   Rate of interest, r = 3%…

Q: What rate of interest compounded annually is required to double an investment in 3 years?

A: Consider the principal is "p". Then the amount is given as A=2P. The time is t=3 years. The…

Q: The doubling time of an investment with continuous compound interest is 12.6 years. If the…

A: It is given that, double time of the investment = 12.7 years.Principle amount is $24,000.The number…

Q: Write an equation that models the amount of money in an account that pays 2.5% annual interest,…

A: Write an equation that models the amount of money inan account that pays 2.5% annual interest,…

Q: 6000 dollars is invested in a bank account at an interest rate of 9 percent per year, compounded…

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Q: Lee put $10,000 into the stock market index mutual fund that group at an average of 7% per year for…

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Q: A sum of money doubles itself at compound interest in 15 years. In how many years will it become…

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Q: A man initially invested ​$1000 in a savings account where interest is compounded quarterly. If…

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Q: If $23,000.00 is invested in an account for 30 years. Find the value of the investment at the end of…

A: Solution: From the given information, invested amount is $26,000, interest rate is 7%, compounded…

Q: If Hannah places $ 5500 into an account earning 6% interest compounded continuously, how much will…

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Q: A loan worth $10 000 is due in 5 years. Which compounding period will result in the highest amount…

A: We will talk about a loan worth $10 000 which is due in 5 years. Which compounding period will…

Q: As the prize in a contest, you are offered $29,000 now or $40,800 in 7 years. If the money can be…

A: Given that Money offered now=$29000 Money offered after 7 years=$40, 800 To find Which prize will be…

Q: Part 2: Compound interest 1. What is the present value of Php65,000 at 11% compounded annually for 4…

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Q: what rate of interest compounded annually is required to double an investment in 3 years?

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Q: How much money should be deposited today in an account that earns 3% compounded semiannually so that…

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Q: What principal will amount to 100 000 pesos if invested at 4% interest compounded semiannually for 5…

A: We have to find principal will amount to 100,000 pesos if invested at 4% interest compounded…

Q: Suppose Sarah has $6500 to invest. Bank W offers a savings account that earns interest at a nominal…

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Q: Find the balance if $24000 is invested in an account paying 6% interest compounded continuously for…

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Q: Suppose a savings account pays 6% interest per year, compounded once per year. If the savings…

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Q: If you invest $1700 in an account paying 7% compounded continuously, how much will be in the account…

A: We have the compound maturity formula

Q: How long does it take the amount of money in your wallet to triple if it is invested at 7% interest,…

A: Let initial amount = P So, final amount = A= 3P Interest rate= 7%= 0.07  n= number of times…

Q: A $50,000 GIC will earn $70,000 of interest over its 10-year term. What is the monthly compounded…

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Q: James has $500 to put into a savings account and his bank gives a 4% interest rate compounded…

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Q: A man initially invested ​$800 in a savings account where interest is compounded annually. If after…

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Q: Find the present value that will grow to $2,000 if the annual interest rate is 8.5% compounded…

A: To find the present value which will grow to $2000, with the annual interest rate is 8.5% compounded…

Q: If 1,000,000 php is invested at 8% compounded quarterly, how many years will the investment grow to…

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Q: if 25,000 is invested at 12%, How much will it be worth after 5 years if it is compounded annually?

A: Remember that, Compound interest (or compounding interest) is the interest on a loan or deposit…

Q: A bank offers 8% interest rate compounded quarterly. How long will it take for an amount of money…

A: Interests rate offered by the bank is 8%, and compounded quarterly. We need to find the time…

Q: If you invest $1000 at 7% annual interest compounded monthly, how many years will it take for the…

A: let invest amount is P annual rate is r month n =12 years = t amount after t years is A =3000 A =…

Q: If $100 is invested at 8% compounded monthly what is the amount after 6 years? how much interest is…

A: amount = P (1+r/n)nt Interest = amount - Principal

Q: 6000 dollars is invested in a bank account at an interest rate of 7 percent per year, compounded…

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Q: 7000 dollars is invested in a bank account at an interest rate of 6 percent per year, compounded…

A: Given, $ 7000 is invested in a bank account at an interest rate of  6 % per year, compounded…

Q: compounded

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Q: If $2500 is invested at an interest rate of 2.5% per year, compounded daily find the value of the…

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