A principal of $2600 is invested at 4.25% interest, compounded annually. How many years will it take to accumulate $4000 or more in the account? (Use the calculator provided if necessary.) Write the smallest possible whole number answer. years

Q: provided if necessary.)   Write the smallest possible whole number answer.

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Q: The purchase price of an acre of land in the Louisiana purchase in 1803 was about 5 cents. Suppose…

A: Given Data: The purchase year of land is: y1=1803 The present year is: y2=2016 The buying price of…

Q: If a man received P12900 from his 4-year investment, how much was invested at 3% compounded…

A: We know formula for compound interest asA=P1+rnnT

Q: An account that’s yields 6% simple interest  annually has $2,000 how much will be in the account…

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Q: Find the final amount of money in an account if $7,600 is deposited at 3% interest compounded weekly…

A: Use compound interest formula

Q: Bentley invested $750 in an account paying an interest rate of 1% compounded daily. Julia invested…

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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: Katie invested an amount of $18,000.00 in a mutual fund. After 4 years and 6 months the accumulated…

A: Use the formula for the compound interest and calculate the rate.

Q: Dolores invests $8100 in a new savings account which earns 3.2% annual interest, compounded daily.…

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Q: an

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Q: Rounded to the nearest quarter year, how long will it take an investment to quadruple if it earns 8%…

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Q: Jayden deposits a total of $800 into his savings accor account earns 2% interest compounded…

A: Introduction: The formula of the compound interest is given by, A=P1+rnnt Where P is the principle…

Q: A principal of $3700 is invested at 5% interest, compounded annually. How many years will it take to…

A: GIVEN: Principal amount = $3700 Interest rate = 5%

Q: Melanie invests $7600 in a new savings account which earns 4.0% annual interest, compounded monthly.…

A: Given,         Melanie invests $7600 in a new savings account which earns 4.0% annual interest,…

Q: A principal of $4600 is invested at 7% interest, compounded annually. How many years will it take to…

A: A=P(1+r/100)t   Here a is amount p is principle  r is rate of interest and t is time in years

Q: A loan of $23,000 is made at 8% interest, compounded annually. After how many years will the amount…

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Q: Ms. Cruz borrowed P50, 000 and repaid it 5 years later. If money earns interest at16% compounded…

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Q: Determine the amount of money, to the nearest dollar, you must invest at 6% per year, compounded…

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Q: A Joan of $15.000 is made at 7.75% interest, compounded annually. After how many years will the…

A: Formula for compounded annually -  A= P(1+r)t  Given-  A= $38000  P = $15000  r = 7.75%

Q: Jesse and Tatiana have a new grandson. How much money should they invest now so that he will have…

A: Future Value:  F.V. = $ 54,000 Total time period: n = 18 years Interest Rate: r = 6.25 % = 0.0625…

Q: Solve Problem 20.4 using Excel.

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

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

Q: How much will you have in an account after 25 years if you put $1900 per month in the account earns…

A: Amount after t years on investing Principal amount of $P in an account with R% of rate of interest…

Q: A loan of $23,000 is made at 5% interest, compounded annually. After how many years will the amount…

A: Proceed as shown below

Q: A principal of $4300 is invested at 5% interest, compounded annually. How many years will it take to…

A: Use formula of compound interest

Q: Abigail invested $77,000 in an account paying an interest rate of 8% compounded annually. Gavin…

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Q: After how many months will the account be worth $60,000

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Q: A loan of $43,000 is made at 8.25% interest, compounded annually. After how many years will the…

A: Compound Interest Formula: A = P·1+rnn·t where A = Accrued amount P = Principal amount r = rate of…

Q: Ms. Roberts decided to invest some money in an insurance company with an interest rate of 9%…

A: Given that interest rate is 9%. The formula for calculating compound interest is given by, A= P(1+…

Q: A loan of $15.000 is made at 7.75% interest, compounded annually. After how many years will the…

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Q: Invested at 6% interest, ₱10,000 today would be worth approximately ₱20,000.00 in ___ years.

A: Given information Principal P=$10,000 Interest I=$20,000 Interest rate r=6% We have to fin the time.…

Q: A loan of $37,000 is made at 5.75% interest, compounded annually. After how many years will the…

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Q: A loan of  $29,000  is made at  4.25%  interest, compounded annually. After how many years will…

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Q: Marcos's savings account has a balance of $ 4,643. After 25 years, how much will your profit be at…

A: Compound interest formula:  , where A is amount after t year, P is initial amount, t is number of…

Q: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

A: given, principal (P)=$1       interest rate (R)=6%=6/100 =0.06      time (t)  = 300 years…

Q: A loan of 18,000 is made at 4.5% interest, compound annually. After how many years will the amount…

A: Given, Principal = p = 18,000Rate of interest = r = 4.5%  compounded annually Amount = A  ≥24, 000…

Q: Rowan invests $600 into an account with a 2.9% interest rate that is compounded quarterly. How much…

A: Given p=$600, r=2.9% (r=0.029), t=5 years  for compounded quarterly n=4

Q: A loan of $26,000 is made at 8.75% interest, compounded annually. After how many years will the…

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Q: loan of $12,000 is made at 6% interest, compounded annually. After how many years will the amount…

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Q: Glory deposited the sum of $50000 in a bank account after 5 months she made another deposit of…

A: The solution are as follows

Q: Using the formula: ,  determine how many years, to the nearest hundredth, it will take to double…

A: Formula: A=P1+rnnt where A=The final amount P=Initial principal balance r=interest rate n=number of…

Q: You deposit $1000 in an account that pays 6% annual interest. Find how long it will take for the…

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Q: Jayden has $70 in a savings account. The interest rate is 5%, compounded annually. To the nearest…

A: Topic- compound interest

Q: Parents wish to have $150,000 available for a child's education. If the child is now 3 years old,…

A: Total years when child is of 18 =18-3 =15 yearrate =7% compounded semi annuallyLet they set  aside…

Q: A loan of $42.000 is made at 3.25% interest, compounded annually. After how many years will the…

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Q: A principal of $1500 is invested at 3.75% interest, compounded annually. How many years will it take…

A: Principal Amount = P = 1500 $Interest rate = r = 3.75 %Amount = A = 2000 $We have to calculate the…

Q: Greg invests $13,000 in an account that pays 5.5% interest per year, compounded quarterly. How much…

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Q: A loan $43,000 of is made at interest 5%, compounded annually. After how many years will the amount…

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Q: A principal of $3800 is invested at 8.5% interest, compounded annually. How many years will it take…

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