Assume that a savings account earns interest at a rate of 3% compounded quarterly. If this account contains 2000 now how many months will it take for account to double if no withdrawals are made

Q: Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every…

A: It is given that, at age 25, you decide to save for retirement by depositing $95 at the end of every…

Q: A grandparent puts $4,000 into a college education fund for a grandchild. If the fund earns 2.75%…

A: total amount = P(1+r/100)n here r = 2.75/365 = 0.007534 n = 365*18 = 6570 total amount = 4000(1+…

Q: How much money should be deposited today in an account that earns 5% compounded semiannually so that…

A: The formula to calculate amount to be deposited in the account is shown belowwhere A is the…

Q: An initial deposit of $10,000 earns 1.5% interest and is left in the account for 10 years. How much…

A: It is given that, an initial deposit of $10,000 earns 1.5% interest and is left in the account for…

Q: If the nominal interest rate is 14.5% per year compounded weekly, the effective annual interest…

A:

Q: At the time of her​ grandson's birth, a grandmother deposits $3000 in an account that pays 5%…

A: Given P = $3000r = 5% = 0.05t=21n=12A=P1+rnnt

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: If $4,000 is invested at an interest rate of 5.7% per year, compounded quarterly, find the amount…

A:

Q: A graduate gets a good job and decides to save $200 per month into a 401K fund on payday, the last…

A:

Q: Suppose you deposit $800 in an account that pays 4.25% annual interest compounded quarterly for 5…

A:

Q: Assume that a savings account earns interest at a rate of 3% compounded quarterly. If this account…

A:

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

A:

Q: Suppose you invest $130 a month for 7 years into an account earning 10% compounded monthly. After 7…

A: When we invest a fixed sum at a fixed interval of time, it is called an annuity. The formula to…

Q: How much money should be deposited today in an account that earns 6% compounded semiannually so that…

A:

Q: Jane Adele deposits $400 in an account at the beginning of each 3-month period for 10 years. If the…

A: Given that, Jane deposits $400 in an account at the beginning of each 3-month period for 10 years.…

Q: invested

A:

Q: If you invest $150 each month into an account earning 3% compounded monthly, how long will it take…

A: Here the required formula is given by,                                 A=d1+rnnt-1rn           ...…

Q: At the time of her grandson birthday a grandmother deposits 10000$ in an account that pays 2.5%…

A:

Q: Olivia invested $1000 in an account that pays 2.5% interest compounded annually. Assuming no…

A: Olivia invested $1000 in an account that pays 2.5% interest compounded annually. Assuming no…

Q: Find the amount that results from each investment $900 invested at 3% compounded semiannually after…

A:

Q: Suppose a certain manufacturer deposits $3,000 at the beginning of each 3 month period for 8 years…

A:

Q: Kristy Joe deposits $150 each month in an ordinary annuity to save for a new car. If the annuity…

A: We will find out the required savings for given ordinary annuity.

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

A:

Q: Assume $5000 is deposited in an account that pays 6% annual interest. How much more would be in the…

A: The answer as follows:

Q: A savings account is opened with a $3,000 deposit. If the account earns 6.5% interest, compounded…

A:

Q: Suppose you invest $190 a month for 6 years into an account earning 7% compounded monthly. After 6…

A: topic - application of geometric progression

Q: A father opened a savings account for his daughter on the day she was born, depositing $1,000. Each…

A:

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: Given, A = Accrued amount = $5000 r = Interest rate = 0.02 n = number of months = 5 t = time…

Q: Suppose that $1,000 is deposited into an account that yields 0.85% interest, compounded annually.…

A: Given: P=$1000r=0.85%=0.0085n=1t=4 Use the formula: A=P1+rnnt

Q: Suppose Grant needs to take out a loan. He can make quarterly payments of $1400 at the end of each…

A: Note: Hey there! Thank you for the question. As you have posted multiple questions, we have helped…

Q: a) Rani invests RM X every six months into a fund that pays 12% compounded semi- annually. Find the…

A: Future value of ordinary annuity FV=R1+in-1i Where R is periodic payment, n is total period and  i…

Q: In its first 10 years a mutual fund produced an average annual return of 20.81%. Assume that money…

A:

Q: Kevin invested $2,500 in an account paying an interest rate of 2.7% compounded daily. Assuming no…

A:

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

A: Question is solved.

Q: If $600 is borrowed at 8% interest, find the amounts due at the end of 4 years if the interest is…

A:

Q: John wants to accumulate at least $35,000 by depositing $1,900 at the end of each month into a fund…

A: The formula that we have to use here is A = d1+rknk-1rk Where A is the final amount, d is the…

Q: How much money should a company deposit into an account now so that they will have $50,000 in six…

A: here we use the equation of compound interest  amount = P(1 + r/100)n here interest is quarterly so…

Q: Find the amount at the end of 5 years and 6 months if P8,000 is invested at 29% compounded…

A:

Q: If $500.00 is deposited into a monthly compounded interest account that pays an annual interest rate…

A: The given data is: Present value is PV=$500.00 Future value is FV=$846.88 Annual interest r=4.8% To…

Q: A man living abroad for 2 years wants to buy an ordinary annuity that will provide monthly payments…

A: The parents will receive  $750 each monthover the 2 years his parents receive the money…

Q: Suppose you want to have $300,000.00 for retirement in 35 years. You plan to make regular monthly…

A: Consider the given: FutureValue F.V.=$300,000,00time, t=35 yearsInterest, r=8%Compounded Monthly,…

Q: A Family is saving up for a house payment. If they deposit $400 each month into an account that pays…

A:

Q: At the time of her​ grandson's birth, a grandmother deposits $1000 in an account that pays 5%…

A: The deposit is $1000, compounded monthly is 5%. The value of the account at the​ child's…

Q: Suppose that $8000.00 was invested in a savings account that paid 2.5% interest compounded…

A: Given $8000.00 was invested in a savings account that paid 2.5% interest compounded quarterly.We…

Q: If 1,000,000 php is invested at 8% compounded quarterly, how many years will the investment grow to…

A:

Q: Suppose $25,000 is invested in an account that pays 8% compounded yearly. (a) find the value of the…

A:

Q: Suppose you want to have $700,000 for retirement in 35 years. Your account earns 5% interest…

A: Annuity formula               A=PMT((1+rn)nt-1)(rn) where PMT= regular monthly deposit amount…

Q: If $400 is invested at 17% compounded quarterly, what is the interest earned after: a) 6 years…

A: FV = Future Value   PV = Present Value   r = rate of interest   n= no of period