A principal of $3000 earns 7.5% per year simple interest. How long will it take for the future value to become $4102.5? (Round your answer to two decimal places.)

Q: Lisa McNeil needs to choose between two invest- ments: One pays 6% compounded annually, and the…

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Q: The cost of a four-year private college education (after financial aid) has been estimated to be…

A: Given data,   Here p is amount invested. This quantity is to be found. t is number of years. Here…

Q: According to the Federal Reserve, from 1971 until 2014, the U.S. benchmark interest rate averaged…

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Q: Budjanga, a business man wants to have P500, 000.00 four (4) years from now. What amount should he…

A: assume he invest amount = P after four years Amount A = 50000

Q: Edgar accumulated $5,000 in credit card debt. If the interest rate is 20% per year and he does not…

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Q: A recent college graduate moves back in with their parents and invests their entire first-year…

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Q: Suppose that you had the opportunity of investing 5000$ in a business such that the value of the…

A: Given  that Investing 5000$ in a business increases the value to 6300$ after 5 years.

Q: Isaiah is going to invest $94,000 and leave it in an account for 16 years.Assuming the interest is…

A: Isaiah is going to invest $94,000 and leave it in an account for 16 years. The interest is…

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

A: Given: Initial amount = P = 125000 Interest rate = r = 4% = 0.04 Time = t = 15 years To find: Final…

Q: What is the future value of a $1000 dollar CD invested at a rate of 4.5% that earned simple interest…

A: Given that: P=initial amount=1000 r=interest rate= 4.5%=0.045 t=number of years= 9  A=annuity=?

Q: After several years of working, Katy has savings of $100,000. If she invests that $100,000 in a…

A: Consider the provided question, Given Principal = $100,000 Time = 20 years Rate of interest = 5%

Q: If you lend $7,000 to a friend for 16 months at 9% annual simple interest, find the future value of…

A: given that lend amount, P=$7000 for 16 months,  T=1612years=43 years  rate of interest , R=9% annual…

Q: To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16 years.…

A: Given that, To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16…

Q: If you deposit $300 now in a savings account and increase your deposits by 10% each month, how much…

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Q: brittany made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years,…

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

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Q: If you invested $10,000 at 9% interest, compounded quarterly, then how much would this investment be…

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Q: At what simple interest rate will an amount of money double itself in 10 years?

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Q: If you invest $2,000 today in savings account at an interest rate of 12%, compounded annually for 7…

A: Given that, Principal =p=$2000 Rate of interest =r=12% time=n=7 years The formula for compound…

Q: Reggie wants to find the future value of an investment of $1500 that earns 5.25% compounded monthly…

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Q: Matilda and Horace open a retirement account with $120,000. How many years will it take for the…

A: Find the time taken for the amount $120,000 to grow to $800,000 if it grows at a rate of 4.5%…

Q: If the inflation rate is 4% compounded annually, how long will it take for prices to double? years…

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Q: Jessica would like to have $36,000 to buy a new car in 9 years. To accumulate 36,000 in 9 years, how…

A: We have to find that how much would Jessica need to invest monthly in a sinking fund with 6%…

Q: If Jean invests $2300 in a retirement account with a 6% interest rate compounded annually, how long…

A: To determine the time required for the investment to accumulate to $ 4150.

Q: Robin wishes to accumulate a sum of $450,000 in a retirement account by the time of her retirement…

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Q: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

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Q: Angela deposits $4000 into an account with an APR of 4.6% for 12 years find the future value of the…

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Q: venture promises a 7% annual interest rate compounded once a year. For how many years should Roger…

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Q: A principal earns 9% per year simple interest. How long will it take for the future value to double?…

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Q: David deposited P2,500 for 2 years at 10% compounded annually and earned a compound interest of…

A: Given that the principle amount=2500And compound interest=525So the future value= 2500+525=3025

Q: an

A: Given that : Accounting pay = 7% In-order to calculate the future value factor formula = (1 +…

Q: A principal of $5000 earns 2% per year simple interest. How long will it take for the future value…

A: Let it will take t years  Simple interest formula  A=P(1+rt)   Given, P=initial amount= 5000  A=…

Q: How would you receive (future value) after five years if the 10% rate is a simple interest rate?

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Q: $30,000 is invested for 3 months at an annual simple interest rate of 2%.  how much interest will…

A: Given

Q: Man borrowed $30,000 at a simple interest rate of 12% per year to woman, however Man can only paid…

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Q: Lydia is going to invest $210 and leave it in an account for 17 years. Assuming the interest is…

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Q: The payment of 500 php is to be made at the end of every 6 months. How much is its future value…

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Q: What is the future value if $12,000.00 is invested for 4 years at 7% compounded every 4 months? The…

A: A=p(1+r/n)^nt

Q: At what simple interest rate will an amount of money gain 50% of the principal in 4 years?

A: Principal = PAmount = A Time = T = 4 yearsAccording to question, Amount becomes 150% of principal…

Q: A principal of 5500 OMR is invested for 3 years. Find the interest rate required to produce a future…

A: The given principle is 5500 OMR and the future value is 6300 OMR. The time period is 3 years and the…

Q: A money market account of $800 earns 3.0% interest compounded quarterly. What is the equation?

A: Given that principal (P)=$800annual interest rate (r)=3%=3100=0.03number of times compounded per…

Q: In how many years will an investment of P2000 double in amount if the interest rate is 14.35%…

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Q: if you decide to invest $2500 at 5% annual interest rate every year, how much would you have in your…

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Q: Find the future value if $7000 is invested for 7 years at 7% compounded annually

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Q: A bank pays 6 % interest annually on savings, compounding the interest yearly. If we deposit $1000,…

A: Consider the given information.

Q: After graduating with a master's degree, Naomi combined all of her student loans into a single loan…

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Q: If saving account awards interest of 3 percent per year compounded semiannually, what amount must…

A: In case of interest compoundedly semiannual Rate = annual rate/2 Time = 2* annual time Hence rate=…

Q: Suppose your savings account pays 8% interest compounded quarterly. If you deposit $15,000 for two…

A: Given: Interest rate r = 8% r = 0.08 Deposit amount or principal amount P = 15000 Time period t = 2…

Q: Find the future value if $3000 is invested for 5 years at 8% compounded annually.

A: Consider the formula to find the future value FV=PV1+iffn where PV is the present value, i is the…

Q: If we invest $4,000.00 in an investment accoint with a 3% APR interest rate, compounded monthly, how…

A: here we have  P=4000 r=3%=0.03 n=12 for monthly compound  t=6 years