At what simple interest rate will a sum of money triple itself in 15 years? A 13.33% B 3.33% 6.67% 9.93%

Q: At age 25, to save for retirement, you decide to deposit $75 at the end of each month in an IRA that…

A: Given Data The deposit amount is P=$75. The interest rate per month is r=6.5%. The time at age of 25…

Q: Annual Rate (%) 2.40 4.00 5.25 5.15 5.15 3.50 If the General Electric bonds you purchased had paid…

A: Using the formula            A = (P+(P×R×T))           where, A = amount, P = principle, R= rate of…

Q: (d) Gabrielle needs $200,000 in eight years. She has set up a sinking fund that earns 5% compounded…

A: Find your answer below

Q: You would like to have $900,000 when you retire in 40 years. How much should you invest each quarter…

A: Given:Amount after 40 years, A =$900,000                                 Rate, r =4.5%=0.045…

Q: ) What simple interest rate will convert a $200 investment into $250 in one year ? a)O 6% b) O 10% O…

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Q: A recent college graduate moves back in with their parents and invests their entire first-year…

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Q: Question 14 Esther pays $355 per month for 6 years for a car She made a down payment of $2.500 If…

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Q: A recent graduate's student loans total $18,000. If these loans are at 4.2%, compounded quarterly,…

A: A recent graduate's student loans total $18,000.If these loans are 4.2%,compounded quarterly,for 8…

Q: For a sum of $8000.00 to double itself in 12 years and 9 months, what must be the rate of interest…

A: Given Principal amount = P = P8000 Time = t = 12 years 9 months Final amount = A = P16000

Q: Farah borrows $1588 for 5 years at a simple-interest rate of 6%. Then the interest will be: O…

A: We have to calculate the value of simple interest.

Q: Answer the following question. You borrow $1000 from a friend and promise to pay back $1975 in 5…

A:

Q: Nabras borrows OMR 4800 for 10 months at a simple interest rate of 8% per year. Determine the…

A: Given data: The amount is P= OMR 4800. The interest is R=8%. Time is T=10 months.

Q: Atticus College predicts that in 14 years it will take $250,000 to attend the college for four years…

A:

Q: A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can the homeowner…

A: Given that  A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can…

Q: In how many years will the amount of P10,000 triple if invested at an interest rate of 10%…

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Q: Hannah deposits OMR 500 in an account earning 5% compounded half yearly. What will be the interest…

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Q: Answer the following questions if you deposited 1,000 dollars into a bank account earning 6 percent…

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Q: At age 35 you start saving for retirement. If your investment plan pays an APR of 6% and you want to…

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Q: If u make an investment of $5000 and the investment earns an annual interest rate of 2.1%, how much…

A: The simple interest SI on a sum of P at R rate of interest for T years is expressed as SI=P×R×T100…

Q: 7. If a $2,500 investment grows to $2,875 in 15 months, what simple interest rate was earned? (Hint:…

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Q: At what simple interest rate will an amount of money double itself in 10 years?

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Q: If a person takes a mortgage OMR 82,000 for 25 years, with a rate of interest 4% compounded…

A: Total number of periods is 100. Therefore answer b is correct.

Q: How much would you need to deposit in an account now in order to have $4,000.00 in the account in 8…

A: How much would you need to deposit in an account now in order to have $4,000.00 in the account in 8…

Q: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

A: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

Q: 15) Francis took a $31,500 truck loan at an annual rate of 8.4% compounded monthly for 72 months.…

A: L=31500 r=8.4%=0.084 n=12 for a monthly compound t=72 months .............option B (for a…

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

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Q: You are considering taking out a loan of $5,000.00 that will be paid back over 12 years with monthly…

A: Given information Loa amount P=$5,000 monthly payment PMT=$44.51 Paid back in 12 years compounded…

Q: A MasterCard statement shows a balance of $560 at 13.9% compounded monthly. What monthly payment…

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Q: Eight thousand dollars has to be invested for 10 years. For each option below,…

A: P = $8,000 t = 10 years. 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: A recent graduate's student loans total $14,000. If these loans are at 4.8%, compounded quarterly,…

A: Given:

Q: Has a credit plan which charges her an interest rate of 36% compounded bimonthly. What is the…

A: Here, the formula used is: i=1+rmm-1...(1)

Q: What is the balance after 2 years on a CD with an initial investment of $2,600.00 and a 3.2%…

A: Given problem Given that   We have to find the balance after 2 years on a CD with an initial…

Q: A recent graduate's student loans total $17,000. If these loans are at 4.2%, compounded quarterly,…

A:

Q: As a senior high school student, Jose decided to start making investments. He is going to deposit…

A: Given: As a senior high school student, Jose decided to start making investments. he is going to…

Q: How much money can you afford for a loan if you know you are going to pay $80 each month for 19…

A: The formula to calculate the equal monthly installments (EMI) that is the equal monthly installment…

Q: A recent graduate's student loans total $13,000. If these loans are at 5%, compounded quarterly, for…

A: The formula for present value of ordinary annuity formed by R payments with interest i for n periods…

Q: You need to borrow $20000 and will pay it all back in a lump sum in 6 years. Of the two loan options…

A: Loan A is the best loan between these two loans . Loan A will save more money to us than loan b.…

Q: Answer the following question. You borrow $3000 from a friend and promise to pay back $5460 in 4…

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Q: You purchase a home for $238,000, by making a down payment of 15% and financing the remaining amount…

A: Cost of the Home = $ 238000 Down payment = 15 % of cost Time period (n) = 30 years = 360 months…

Q: 5) You want to invest $5000. What nominal interest rate, compounded annually, would you need in…

A: We have given P=$5000,  A=$10,000  t=7 years find r % we know that compounded interest formula…

Q: For a sum of P8000.00 to double itself in 12 years and 9 months, what must be the rate of interest…

A:

Q: A loan is to be repaid quarterly for 12 years that will start at the end of 3 years. If the interest…

A: Formula for present value

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: Stark Industries, wants to set up a trust fund for its new research facility, earning 12% compounded…

A: The rate of interest is 12%. The periodical payment is 10 million. We need to calculate the amount…

Q: You start to invest $480 a month in a IRA that averages 6.2% a year. How long would it take to reach…

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Q: You are given a choice of a term deposit paying 7.2 % compounded monthly or an investment…

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Q: How many years would it take for a debt of $22,338 to grow into $41,932 if the annual compound…

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Q: If you want to earn 15% annual simple interest on an investment, how much should you pay for a note…

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Q: Use the Zero Coupon Bond information above to answer this question. A zero coupon bond with a face…

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