At age 25, you start work for a company that deposits $10,000 into a retirement account that pays a monthly interest rate of 1.1%, and interest is compounded monthly. If you retire at 65, what is the balance in this account?

Q: If you deposit $4500 at 5% annual interest compounded quarterly, how much m oney will be in the…

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Q: 1. If you save $750 per month in a savings account that pays 1% interest, compounded monthly, how…

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Q: Samuel is going to invest $4,900 and leave it in an account for 14 years. Assuming the interest is…

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Q: What nominal interest rate compounded monthly is equivalent to 4.50% compounded quarterly?

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

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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: How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: Here, we need to find the amount we deposit at the end of each month into an investment account that…

Q: When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded…

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Q: You invested $9,000 at the end of each quarter for 8 years in an investment fund. If the balance in…

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Q: Steve decided to deposit $4,680 into a savings account with 6.5% interest, compounded quarterly.…

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Q: If $12000 had been invested in a certain investment fund on September 30,2008, it would have been…

A: compounded interest formula A=P(1+rn)nt A=53625.75 P=12000 r=? t=10 years n=1 (compounded annually)…

Q: Assuming that you invest $13,000 in the United States, how long (to the nearest year) must you wait…

A: The formula for compound interest is, A=P1+r100n where, A is compounded amount P is the Principal…

Q: Grace invested $5,200 in an account paying an interest rate of 4.6% compounded daily. Assuming no…

A: Given; Principal,P=$5200 Time,t=11 years Rate,r=4.6% compounded daily.

Q: Charley’s credit card APR is 28.95% compounded daily. What is her actual interest rate per year?

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Q: If Landon invests $3,000 in a 6-year certificate of deposit at the annual rate of 7.75%, compounded…

A: Let A be the amount of future value of investment,then A can be calculated as follows

Q: Suppose you deposit $1, 000 twice a year for 30 years into an account that is compounded…

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Q: Ben Franklin's gift of $5,000 to New York City grew to $7,000,000 in 200 years. At what interest…

A: The principal amount, P = $5,000 Future amount, A = $7,000,000 Time, t = 200 years The number of…

Q: If you have $30,000 in a bank account that is paying an interest rate of 4 percent that is being…

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Q: A bank has decided to set its interest rates to compound monthly on all deposits in order to give…

A: We know the compound interest formula:A=P1+rnntwhere A=Principal amount +interest Amount…

Q: Austin invested $200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no…

A: Austin invested $200 in an account paying an interest rate of 6.1% compounded quartely.

Q: You want to have $200,000 when you retire in 25 years. If you can earn 9% interest compounded…

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Q: Noah invested $8,600 in an account paying an interest rate of 2.4% compounded monthly. Assuming no…

A: Use the directly formula for compound interest.

Q: find the amount of money you Will have after 20 years if you inrest $ 25,000 at a rate of 12% if…

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Q: Frank Steed wants to open a camera shop. How much must he deposit now at 6% interest compounded…

A: To find the amount which should be deposited now at 6% interest compounded monthly to have $25,000…

Q: Sumi Kato's savings account has a balance of $1,596. After 21 years what will the amount of interest…

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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: 1) Brenda invests $4,848 in a savings account with a fixed annual interest rate of 5% compounded 2…

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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: Carter invested $16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming…

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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: You want to have a $ 93,477 college fund in 10 years.  How much will you have to deposit now in an…

A: Given Data: The expected accumulated balance after 10 years is: A=93477 $ The interest rate is:…

Q: At the time of her grandson's birth, a grandmother deposits $13,000 in an account that pays 3.5%…

A: a) Grandmother deposits (P) is $13,000. Interest rate is, 3.5%. That is r = 3.5/100 = 0.035. Number…

Q: John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How…

A: Initial deposite= P= 2000 Final amount=A=? Time=t= 4 years  Interest rate = 5.8%=0.058  Number of…

Q: You deposit $3200 in a bank with annual interest rate of 3.5% compounded annually. What would you…

A: The deposit is $3200, interest rate is 3.5% compounded annually. The balance amount be 5 years later…

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

A: Given: Principle amount (P)= $1,000,000 Rate of interest r=12% Time period= 20 years

Q: How much can be paid in scholarships at the end of each year if $650,000 is deposited in a trust…

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Q: A principal of $12,000 is invested in an account paying an annual interest rate of 7%. Find the…

A: Compounded quarterly , n=4

Q: At age 25 you start work for a company that deposits $10,000 into aretirement account that pays a…

A: If the interest compounded monthly.  And the principal amount is $ P And monthly interest rate r%…

Q: How much must a person put into the bank today if he wants $50,000 in 5 years at 6% compounded…

A: Sol

Q: If an annual interest rate is 12% and is compounded monthly, then what is the interest rate per…

A: NOTE: Refresh your page if you can't see any equations. . the annual rate is 12% and is compounded…

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: A deposit of $1000 is made into an account that earns interest at an annual rate of 5%. If allowed…

A: what would be the resulting total account balance if the interestcompounded monthly?

Q: A loan of $47,000 is made at 6.75% interest, compounded annually. After how many years will the…

A: The principal amount of loan is $47000. The rate of interest per year is 6.75%. The amount with…

Q: A deposit of $550 is made in a savings account that pays an annual interest rate of 1% compounded…

A: The formula of the compound interest is, A=P1+rnnt where, A=Amount after the periodP=principal…

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: Morgan is going to invest $8,200 and leave it in an account for 10 years. Assuming the interest is…

A: A=$16500 P=$8200 t=10 years n=12 (compounded monthly) We have to found intrest rate

Q: a) How much would need to deposit in an account now in order to have $6000 in the account in 10…

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Q: find the value of a $3000 certificate in 2 years, if the interest rate is 10% compounded annually…

A: Formula used;-          Amount = Principal(1+rate/100) n(no.of years)

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 would you need to deposit in an account now in order to have $4000 in the account in 10…

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