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

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A: Given problem Given that   A = $ 2000 T = 15 years Rate of interest = 7% = 0.07 Compounded monthly…

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

A:

Q: How much would you need to deposit in an account now in order to have $4000 in the account in 5…

A: to find:- amount to be deposited.

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

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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 15…

A:

Q: You want to have a $40,000 college fund in 6 years. How much will you have to deposit now in an…

A: To calculate the present value (amount to be invested) for the given conditions to be satisfied

Q: You decide to quit using your credit card and want to pay off the balance of $2,200 in 2 years. Your…

A: This is compound interest problem

Q: Crystal made equal deposits at the beginning of every 3 months into an RRSP. At the end of 6 years,…

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

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Q: You want to have $100,000 when you retire in 10 years. If you can earn 3% interest compounded…

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Q: Suppose you purchase a car and you are going to finance $14,000 for 48 months at an APR of 6.6%…

A: Given:  Finance amount (P)=$14,000             Time (t)= 48 months= 4 years             Interest…

Q: You deposit $10000 in a bank that pays annul interest rate of 6% compounded quarterly. How much your…

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Q: Cara needs $9,000 in 11 years. What amount can she deposit at the end of each quarter at 6% interest…

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

A:

Q: You want to have $500,000 when you retire in 30 years. If you can earn 4% interest compounded…

A: We have to set up the compound formula first.

Q: You want to be able to withdraw $2,400 from your account each month for 30 years after you retire.…

A: Please refer to the image below.

Q: Bill invests $4,976 in a retirement account with a fixed annual interest rate of 7.80% compounded 2…

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Q: A rich uncle wants to make you a millionaire. How much money must he deposit in a trust fund paying…

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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: Bill invests $4.976 in a retirement account with a fixed annual interest rate of 7.80% compounded 2…

A: Solving the problem by finding the value of the required years.

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: Kristy Joe deposits ​$110 each month in an ordinary annuity to save for a new car. If the annuity…

A: It is given that the Cash deposit per period is P = $110.Monthly interest rate is i = 1.03%. Time…

Q: A major shipping company is planning to purchase new cargo ships. It wants to borrow $1100 million…

A: Here we use compound interest formula to find the interest that company have to pay quarterly.   So,…

Q: you deposit money into an account paying 9% annual interest compounded monthly you need the account…

A:

Q: find the present value of $75,000 if interest is paid at a rate 3% per year, compounded monthly for…

A: Only you have to careful what the question saying...wheather it is compounded yearly or compounded…

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: You plan to save money for a down payment of $37,000 to purchase an apartment. You can only afford…

A: Introduction: The formula of payment per month of a loan of the amount is given by, EMI=Pr1+rn1+rn-1…

Q: Use the formula for present value of money to calculate the amount you need to invest now in one…

A:

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: "Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It…

A: Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It…

Q: Allison is 34 years old and plans to retire at age 65 with ​$1,380,000 in her retirement account.…

A: Given: Final amount is $1,380,000 Interest is 4% that is compounding daily Time is 31 years (from…

Q: A recent graduate's student loans total $16,000. If these loans are at 5%, compounded quarterly, for…

A: FORMULA A=final amount P=initial principal balance r=interest rate t= number of time period…

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

A: The future value of the deposit is $6000. The period is 10 years and the monthly compounded interest…

Q: You have $400,000 saved for retirement. Your account earns 5% interest compounded monthly. How much…

A: Given problem is : You have $400,000 saved for retirement. Your account earns 5% interest. How much…

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: You deposit money into an account paying 9% annual interest compounded monthly. You need the account…

A:

Q: a company deposited an amount of P1,200 monthly in an account invested at 3% compounded monthly to…

A: Given that: Amount deposited monthly is P 1200 Rate of interest compounded monthly is:…

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

A:

Q: Jane Roznowski wants to invest some money now to buy a new tractor in the future. If she wants to…

A: Here we need to apply the concept of compound interest compounded monthly

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: You deposited $7000 in an investment fund that pays 5.5% per year, compounded quarterly. How much…

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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: (SLO) How much should a mother invest at the time her son is born to provide him with $80,000 at age…

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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: 2. Amy invested $5,600 in a five year CD that pays eight percent compounded quarterly. What is the…

A: Compound Interest formula,A= P1+rnntWhere,A= future value or final amountP = investment or initial…

Q: You deposit $4000 in a bank with annual interest rate of 3.5% compounded monthly. What would your…

A: Here, P=$4000, n=1, r=0.035, and t=20.

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest…

A: We will find out the required values.

Q: unt that

A: In this question, the concept of Compound Interest is applied. Compound Interest Compound interest…

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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Q: 18. Alphonse is going to put $2500 in an interest bearing account that pays 3% interest and leave it…

A: