An investment fund pays 10% per year, compounded quarterly, on all money invested. How much must be invested now to have $16 000 when it is needed six years from now?

Q: Tom wants to have $6,000 in three years. At 4.75% interest compounded monthly, how much does he need…

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Q: How much did Speedy Movers borrow for a debt that accumulated to $51,238.44 in four years? The…

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Q: A company needs $7,000,000 in 10 years in order to expand their factory. How much should the company…

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Q: Find the time required for an investment of 3,000 dollars to grow to 5,000 dollars at an interest…

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Q: To the nearest penny, how much would you have to invest right now in a fund paying 5% continuously…

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Q: How much should Linda Bryan set aside now to buy equipment that costs ​$8,000 in one​ year? The…

A: For simple interest, the amount formula is, A = P + PRT100 and for compound interest, the formula is…

Q: An amount of $42,000 is borrowed for 10 years at 5% interest, compounded annually. If the loan is…

A: The amount to be paid back  is computed using the formula,

Q: If you have $5000,00 to invest a rate of 3.5% compounded monthly, how long would it take to save…

A: Given investment(P) = $5,000.00 interest rate(r) = 3.5% per annum Final amount(A) = $15,000.00 The…

Q: How much will have to be invested at the beginning of each year at 6%, compounded annually, to pay…

A: If P is the principal amount invested compounded annually at a rate r for time t years then the…

Q: Complete the table for a savings account in which interest is compounded continuously. Initial…

A: The compound interest formula is A=P1+R100t where A=final amountP=initial amountR=Annual rate%t=time…

Q: 13. If Frank invests $11,400 at 3.7% interest compounded quarterly, how much will his investment be…

A: Given: Frank invests $11,400 at 3.7% interest compounded quarterly. To find: Investment's worth in 9…

Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

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Q: Find the time required for an investment of 4,000 dollars to grow to 10,000 dollars at an interest…

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Q: Find the time required for an investment of 4,000 dollars to grow to 6,000 dollars at an interest…

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Q: Rochelle invested $100 at the end of every month into an RRSP for 11 years. If the RRSP was growing…

A: Given information Initial principal balance P=$100 Rate of interest r=4.60% ⇒r=4.60100=0.046 Period…

Q: How much money will be in your account three years after the previous deposit? If you make six…

A: The given data is: P=$2000 r=10%t=3 years Given that compounded semi-annually, therefore Interest…

Q: how much will deposits of dollar 200 made at the end of each quartar amount to after 9 years if…

A: The process of depositing an amount after each fixed time is called recurrent deposits. The final…

Q: A company needs $8,000,000 in 5 years in order to expand their factory. How much should the company…

A: Solve for investment in each week

Q: Oliver is going to invest $2,500 and leave it in an account for 18 years. Assuming the interest is…

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Q: An interest rate of 8% per 6 months, compounded monthly, is equivalent to what effective rate per…

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Q: 2. How many years will it take for an investment to double in value if it earns 5% compounded…

A: Interest compounded annually is calculated by the formulas, A=P1+r100t…

Q: How much must be invested at the beginning of each year at 11%, compounded annually, to pay off a…

A: Given: The future value is $60,000. The time duration is 8 years. The interest rate is 11%…

Q: Paisley is going to invest $28,000 and leave it in an account for 14 years. Assuming the interest is…

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Q: An investment fund pays 5% per year, compounded semi-annually, on all money invested. How much must…

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Q: Liz wants to accumulate at least $40,000 by depositing $900 at the end of each month into a fund…

A: As the interest rate is compounded monthly:   Part (a):   Future value for the annuity is computed…

Q: An amount of $44,000 is borrowed for 8 years at 4.75% interest, compounded annually. If the loan is…

A: A=P(1+r)t P is the amount borrowed.r is the rate of interest.t is the time.

Q: If you want to accumulate $ 28,000 in 5 years to purchase a car, how much you need to invest today…

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Q: Peyton is going to invest $310 and leave it in an account for 16 years. Assuming the interest is…

A: Principal amount:  P = $ 310 Total time period is: t = 16 years Interest is compounded quarterly.…

Q: An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded annually. If the loan is…

A: Given information:- An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded…

Q: A $5800 investment is made for a three-year period at an interest rate of 5.4% per year, compounded…

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Q: If you invest $3000 at 5% compounded quarterly, how long will it take the account to double in time?…

A: P=3000,  r=5%=0.05,  n=4

Q: Suppose that you have children young, pay for their college expenses, and finally start saving for…

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Q: An investment fund pays 9% per year, compounded quarterly, on all money invested. How much must be…

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Q: How much must be invested at the beginning of each year at 10%, compounded annually, to pay off a…

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Q: Madison is going to invest in an account paying an interest rate of 5.1% compounded quarterly. How…

A: Let the amount invested in the account be P Final value of amount in the account(A) is $310 Number…

Q: For an interest rate of 9% per year, compounded monthly, the effective monthly rate is closest to:

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Q: Suppose you want to borrow $20,000 for a new car. You can borrow at 6% per year, compounded every…

A: P = monthly payment PV = loan amount r = rate of interest n = number of periods

Q: Shawn invested $130 at the end of every month into an RRSP for 13 years. If the RRSP was growing at…

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Q: How much should a business save at the end of every quater if they need $100,000 in 5 years to pay…

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Q: How much monthly deposit must be made for 5 years and 5 month in order to acccumulate $120,000 at…

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Q: . An investment fund pays 12% per year, compounded monthly, on all money invested. How much must be…

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Q: If you have $5000.00 to invest at a rate of 3.5% compounded monthly, how long would it take to save…

A: The savings obtained by investing an amount P at an interest rate of r % (compounded monthly) for t…

Q: A company needs $5,600,000 in 8 years in order to expand their factory. How much should the company…

A: To find P if the interest compounded weekly, substitute 5600000 for A, 8 for t, 0.08 for r and 52…

Q: What annual rate of interest compounded annually should you seek if you want to triple your…

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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: How much must be invested at the beginning of each year at 9%, compounded annually, to pay off a…

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Q: Find the amount P that needs to be invested at a rate of 5% compounded quarterly for 6 years to give…

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