A sum of $1000 is invested at an interest rate of 12% per year. Find the amounts in the account after 3 years if interest is compounded annually, semiannually, quarterly, monthly, and daily. COL ITION

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A: Given that  A newborn child receives a $5,000 gift towards a college education from her…

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Q: You deposit $5000 each year into an account earning 6% interest compounded annually. How much will…

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A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: Find the final amount of money in an account if $2,200 is deposited at 7.5% interest compounded…

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Q: Find the final amount of money in an account if $3,600$3,600 is deposited at 5.5% interest…

A: Formula:   Final amount=P1+rnnt We have, P=$3,600, r=5.5%=0.055, n=1(since, compounded annually),…

Q: Parents wish to have $160,000 available for a child's education. If the child is now 10 years old,…

A: The formula for the future value is given by FV=PV1+rnnt  where PV is the present value, r is the…

Q: Find the final amount of money in an account if $2,000$2,000 is deposited at 2%2% interest…

A: Given data, Principal amount=$2000 Interest=2%=0.02 Compunded quarterly which means n=4 Time(t)= 5…

Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

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

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Q: Find the final amount of money in an account if $7,100$7,100 is deposited at 4.5%4.5% interest…

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Q: You deposit $2000 at the beginning of each year into an account earning 4% interest compounded…

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Q: Atticus College predicts that in 14 years it will take $250,000 to attend the college for four years…

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Q: How much would you need to deposit in an account now in order to have $5000 in the account in 10…

A: How much would you need to deposit in an account now in order to have $5000 in the account in 10…

Q: A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can the homeowner…

A: Given that  A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can…

Q: Find the final amount of money in an account if $1,600is deposited at 4.5%interest compounded…

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Q: Sarah makes $3000 contributions at the end of each half-year to a retirement account for 8 years.…

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Q: How much would you need to deposit in an account now in order to have $3000 in the account in 10…

A: Given,         A=3000 , t=10 years, r= 2% and compounded monthly

Q: Find the final amount of money in an account if $6,600 is deposited at 6% interest compounded…

A: Given: An amount of $6,600 is deposited at 6% interest compounded annually and the money is left for…

Q: Sally makes deposits into a retirement account every year from the age of 30 until she retires at…

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Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 5…

A: Use formula of compound interest

Q: You deposit $1000 each year into an account earning 4% interest compounded annually. How much will…

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Q: You deposit $4,000.00 each year into an account earning 2% interest compounded annually. How much…

A:

Q: Find the balance if $30000 is invested in an account paying 4.5 % interest compounded semi-annually…

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Q: Find the final amount of money in an account if $500 is deposited at a 3% interest compounded…

A: If A= final amount including principal P= principal amount I =rate of interest per year t= number of…

Q: A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=300 r=9%=0.09 t=4 years…

Q: Sumi Kato's savings account has a balance of $1292. After 12 years what will the amount of interest…

A: Compound interest formula

Q: If $19,000.00 is invested in an account for 30 years.. Find the value of the investment at the end…

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Q: A recent college graduate received $25,000 as a gift from her grandparents. How much will this…

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Q: Find the final amount of money in an account if $5,900$5,900 is deposited at 8% interest compounded…

A: Principal Amount, P = $5900 Rate of interest per week, r = 8% = 0.08 Time, t = 55 yrs The number of…

Q: If $26,000.00 is invested in an account for 10 years. Find the value of the investment at the end of…

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Q: Laura saves ​$27 at the end of each week and deposits the money in an account paying 9%…

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Q: Find the balance if $23000 is invested in an account paying 6 % interest compounded quarterly for 11…

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Q: How much would you need to deposit in an account now in order to have $2000 in the account in 5…

A: Let A(t)= amount in t years.P= Prinicipal(Original investment)r=Annual interest rate(in decimal…

Q: Find the value of a savings account with monthly deposits of $200 for two years into an account that…

A: Here we have to find the value of a savings account with monthly deposits of $200 for two years into…

Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

A: Topic - Compound Interest

Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Given:  P=$1,000,000r=6.7%=0.067n=2t=12 year To determine: The amount that can be withdrawn from…

Q: Find the final amount of money in an account if $3,600 is deposited at 5.5% interest compounded…

A: Formula:   Final amount=P1+rnnt We have P=$3,600, r=5.5%=0.055, n=1(since, compounded annually), t=7…

Q: Bill invests $7,500 in an account with 7.2% interest that is compounded twice a year. How much is in…

A: The formula for the amount for the compound interest is given by formula is given by  A=P1+rnnt…

Q: Find the final amount of money in an account if $1, 900 is deposited at 2 % interest compounded…

A:

Q: Find the balance if $24000 is invested in an account paying 7 % interest compounded semi-annually…

A: Given that: Principal=$24000 Rate of interest=7% semi anually and time=8 years

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 10…

A: Formula: A=P1+rnnt where A= Final amount P= Principal initial balance r= Rate of interest t= Time…

Q: A student takes out a college loan of $6000 at an annual percentage rate of 3%, compounded monthly.…

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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: How much would you need to deposit in an account now in order to have $6000 in the account in 5…

A: It is given that the interest is compounded monthly. The formula for compound interest is A=P1+rnnt…

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: How much would you need to deposit in an account now in order to have $6000 in the account in 15…

A: Let the amount to be invested be P

Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

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