Al invested $7,200 in an account that pays 4 percent simple interest. How much money will he have at the end of five years?       A.     $8,710   B.     $8,056   C.     $8,640   D.     $8,678   E.     $8,299     please type to all of your work

Q: Marius opened a savings account. The sequence {200, 208, 216.30, 225, …} describes the amount of…

A: Interest is an additional amount which is received on amount deposited. If amount is not withdrawn…

Q: Logan inherited $8,000.  He split the money and placed EQUAL amounts in the two accounts below.…

A: The interest on interest is known as compound interest. The interest calculated as per the…

Q: Stephen has $11,200 in the bank. The account will earn 2.8% in simple interest for the next 5 years.…

A: Simple interest is the method used to charge the interest on the principal amount for a given period…

Q: 2. Emily invests $7646 for 6 years in an account that is compounded monthly at 4.8%. a) How much…

A: The amount deposited in the bank for 6 years and the interest paid monthly to the deposited amount,…

Q: How long (in years) will it take for her investment to amount to $6,000?

A: Time value of money (TVM) means that the amount received in the present will have more value than…

Q: Looking for steps on how to solve it using: y=p(1+r/n)^nt

A: Introduction Future Value The value derived for the money invested today, based on the time value…

Q: Jamie invested a certain amount of money in JDJ Savings Bank with a 2.5% interest rate. He received…

A:

Q: You deposited $5,000 in an account that pays 8% interest per annum. When your son is ready for…

A: Number of years is the period required to earn a certain sum in the near future at given interest…

Q: Your grandfather started his own business 52 years ago. He opened an investment account at the end…

A: The periodic payment of the securities is considered over the period of time. The periodic payment…

Q: A student needs P4000 per year for 4 years to attend college. Her fathe invested P5000 in a 7%…

A: The present value is the cumulative value of all cash flows discounted while keeping in mind a…

Q: G) Mohammed deposited RO 50,000 in a savings account at 9% interest compounded semi-annually. At the…

A: Here, to solve these questions we have to use the compound interest formula to calculate fund amount…

Q: A man invested P1,000 per month on a bank that offers 6% interest compounded annually. How much can…

A: The Concept is of Annuity. Annuity is a series of fixed payments/receipts made at regular interval…

Q: Sam owns the bank some money at 5% per year. After half a year, he paid 15 dollars as interest. HOW…

A: The banks gives the loan to the customers but the charge the interest on the loan and customers have…

Q: If Laura invests $1,230.00 in an account earning 2.95% simple interest, how much money will be her…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Abby invested P100,000.00. A part of it was invested in Business 101 at 4% yearly interest and…

A: The question is based on the concept of Financial Management.

Q: Fatuma invests a total of $10,000 in two accounts. The first account earned a rate of return of 11%…

A: Introduction: Rate of return (ROR) is the rate at which returns are received from an investment or a…

Q: Juan decided to start saving for college.  He deposited $500 into an account that earns 4% simple…

A: Amount deposited = $500 Simple Interest = 4%

Q: Anthony invested a sum of money 2 years ago in a savings account that has since paid interest at the…

A: Solution: FV = $25,789.88 r = 2%/ year n = 2 year Since, rate is compounded quarterly; number of…

Q: Joan deposited an amount in a bank which gives 15% simple interest. If she gets a total of ₱125,000…

A: Interest rate = 15% Future value = P 125000 Years = 10 Years

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

A: Calculation of Simple Interest The purpose to provide the interest for the loan is repayment with…

Q: Suppose 10 years ago your father deposited $ 25,000 in an account earning 4.6%. Every year you…

A: First step is to compute the future values of withdrawals staarting 9 yrs ago till today by applying…

Q: Diego invested 10,500 the bank gives him 2,520 simple interest per month.If you receive 2,520 as…

A: Solution:- Interest means the increase in amount invested for a certain time period for deferring…

Q: Kerry invests $234 in a savings account that earns 2.1% compounded annually. Andy invests $234 in a…

A: Formulas: Future value = Present value *(1+rate)^years

Q: A professor invested some money for college expenses for his grandson. He invested $10,000 into an…

A: Required :Determine the amount in the account after 18 years.

Q: Abigail invested $77,000 in an account paying an interest rate of 8\tfrac{3}{8}883​% compounded…

A: The time value of money has two techniques. The compounding and the present value method. The…

Q: If Laura invests $1,230,00 in an account earning 2.95% simple interest, how much money will be her…

A: The fund or money in the account would be Principal invested and interest of a certain period at the…

Q: 2. Sam is 22 years old and opens an account with an APR of 1.6%. a. If Sam deposits $30 every week,…

A: We need to calculate future value of annuity by using this formula FVn = PMT[{(1+i)n -1}/i] where…

Q: Lily has an account that pays 3.48% simple interest per year and wants to accumulate $4,000 in…

A: Interest per year can be calculated as: = Principal * Rate * Time

Q: Michelle Payne deposited $16,000 in a savings account paying 6.25% simple interest. How long (in…

A: A method of computing interest amounts in which the compounding effect was not considered by the…

Q: 1. Investment Luc invests $7000 in two bank accounts. One earns 1.5% simple interest per year, and…

A: SIMPLE INTEREST FORMULA: SI=P×R×T WHERE, P=PRINCIPAL R=RATE OF INTEREST T=TIME IN YEARS

Q: Belle decided to start a new investment account.  She deposits $1,000 into an account that earns…

A: Compound interest is the interest that is determined on the initial deposit made and the accumulated…

Q: Michelle Payne deposited $24,000 in a savings account paying 6.25% simple interest. How long (in…

A: Formula: FV=PV×1+rt

Q: how much did she invest in each account? account paying 5% $________ account paying 11%…

A: Investment refers to those mechanism which is used by the company for the purpose of generating…

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Ali invested 5000 Rials in a saving account that paid quarterly interest. After 6 years the money…

A: answer : let us first not down the information given in the question initial investment = 5000…

Q: 1. Sam has made $480 in interest after investing for 16 years at 2.4% in a simple interest bank…

A: Simple Interest means the Interest is always calculated and paid on the Original Principal Amount…

Q: Michelle payne deposited $20,000 in a savings account paying 6.25% simple interest. How long (in…

A: Future value = Prinicipal amount + Interest amount

Q: 10. Miss Calledo deposited P 1,000, P 1.500 and P 2,000 at the end of the 2nd year, grd year and 4th…

A: Deposit in year 2 = P 1000 Deposit in year 3 = P 1500 Deposit in year 4 = P 3000 Annual interest…

Q: how much more money would Isabella have in her account than Gabriel,

A:

Q: Having finally entered the working world, Troy took out an $863,000 loan at 3.60% interest…

A: Solution:- When a loan is taken, it is repaid with interest. The original amount of loan is called…

Q: posited Rs. 2,500 in an account that pays 6% simple interest.  How much money will he have at the…

A: Simple interest is interest computed on principal amount only not on interest accrued or accumulated…

Q: James invests a total of $3,000 in two accounts. The first account earned a rate of return of 10%…

A: Total amount invested = $3,000 Return on first account = 10% Loss on second account = 8% Total gain…

Q: Sonny who invested ₱45,800 had ₱82,420 returned to him 4 years and 4 months later. At what interest…

A: Future Value: The future value is the value of annuity or the sum lump amount after a certain period…

Q: 4) Megan invests $2,000 at the end of each year into an account earning 3% effective annual…

A: Amount invested at the end of each year =$2000 Effective annual Interest =3% Effective Annual…

Q: How much would Dave have in his account at the end of 20 years if he deposits $2,000 into the…

A: future value with continous compounding: FV=PV×ertwhere,r=interest ratet=time

Q: Ashleigh put some money into an account paying 4.5% compounded continuously for 10 years. She now…

A: Present value of investment refers to the current value of investment. Present value considers an…

Q: nvested the profit of her business in an investment fund that was earning 2.25% compounded monthly.…

A: In this we need to find out the present value of all options.

Q: Natalia invested some money in a business that generated a final amount of P69, 375.00 at 12.5%…

A: Time period (t) = 15 months = 1 year + 3 months = 1 + (3/12) = 1.25 years