c) How long will it take for a sum of money lent at 5.70% simple interest become double of itself? (Round off your answer to the nearest year).

Q: Jeff wishes to accumulate $5,250 in 7 years. Use the appropriate formula to find the sinking fund…

A:

Q: (a) Assuming no withdrawals are made, how much money is in Charlie's account after 3 years? (b) How…

A: Present Value of the Bonus = $1900 Interest rate (r) = 1.29% The interest is compounded monthly The…

Q: A student pays back a loan (principal + interest) of $12 344. If it compounded weekly for 4 years,…

A: A=P1+rnnt

Q: If an amount of $1821 is borrowed at a simple- interest rate of 7% for 4 years. Then the simple-…

A: The principal amount, P = $1821 Simple interest rate, r = 7% = 0.07 Time, t = 4 years To evaluate :…

Q: Jasica Parker would like to have $75,000 to buy a new car in 6 years. To accumulate $75,000 in 6…

A: Solution :-

Q: /2. Jimmy invests $4,000 in an account that pays 2% annual interest, compounded semi-annually. What…

A: 2. The principal amount, P = $4000 Rate of interest, r=2%=0.02 The number of times the interest…

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 receive a loan of $22,000 for 24 months at 5.2% compounded semiannually? How much interest is…

A:

Q: If a company wanted to save each year $4500 for 6 years, but not start saving until year 4, in order…

A:

Q: You take out a loan of $120,000 for a term of ten years at 10% interest compounded semi-annually.…

A: We need to find the total interest.

Q: Millet wants to provide a 200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: Given: A=200,000R=10%T=4 years We have to find principal (P) we know that A=P1+rnnt ...(i) here…

Q: John borrowed $8000 at a rate of 13%, compounded annually. Assuming he makes no payments, how much…

A:

Q: 17. If Joe deposits $800 in an account paying interest at an annual rate of 6% compounded quarterly,…

A:

Q: Parents wish to have $80,000 available for a child’s education. If the child is now 5 years old, how…

A:

Q: 5. How much is a sum of £3500 worth at the end of five years if deposited at (a) 11% simple interest…

A:

Q: (a) If you invest $5,000 in an account that earns an APR of 3% with quarterly compounding, what will…

A: P = 5000 APR = 3% t = 10 year

Q: #2 Isaac invested $77,000 in an account paying an interest rate of 4.6% compounded quarterly.…

A: We have to find amount

Q: In order to help pay for college, the grandparents of a child invest $1,650 in a bond that pays 1.5%…

A:

Q: In order to help pay for college, the grandparents of a child invest $2450 in a bond that pays 15%…

A: Given Principal amount,P=2450 Rate of interest,i=15% Time in years,t=5.5years Number of times…

Q: 34. Use the formula found in the previous exercise to calculate the initial deposit of an account…

A:

Q: How much interest will be charged on ₱7,300 borrowed for three (3) years at a simple interest rate…

A: To find Interest charged charged on 7,300 borrowed for three (3) years at a simple interest rate of…

Q: 3. I want to save $5,000 for a down payment on a car. To the nearest dollar, how much will I need to…

A:

Q: 9. In order to have P1 million in a fund at the end of 15 years, how much must be deposited in the…

A: Solution

Q: Aubree invested $8,300 in an account paying an interest rate of 2.2% compoùnded quarterly. Assuming…

A:

Q: (a) If you invest $8,000 in an account that earns an APR of 4% simple interest, what will be the…

A:

Q: 2.) Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of…

A: Amount=$150,000 Present value=$1000 Rate of interest =5% compounded quarterly.…

Q: 1. What amount would Vanessa Mae receive if she invests worth 250,000 pesos for 5 years and 9 months…

A:

Q: If you need $50,000 five years from now, what is the minimum amount of money you need to deposit…

A: Let I have to deposit $P  Final amount=A=50000 Time=t=5 years Interest rate=3%=0.03   a) Number of…

Q: Mr. and Mrs. Maglalang decide to set aside ₱ 500,000 today and place it on a bank savings account…

A:

Q: A student takes out a college loan of $4000 at an annual percentage rate of 6%, compounded monthly.…

A:

Q: If you have R.O. 9275 and you want to make a small business that will provide you a steady income…

A: Compound interest =p1+R100t p=9275 t=1,2,3,....19 ,R=19  =92751+19100t

Q: 2. How much must you deposit today into an account with quarterly compounding interest and an APR of…

A: 2 Given information A=$30,000 APR=6% ⇒r=6100=0.06 Time t=10 years Since, rate of interest compounded…

Q: 1 he annual interest on a bond is 4-% of its face value and amounts to $185. What is the face value…

A:

Q: 1) Suppose a credit card borrower has a debt of $4000 with an interest rate of 24%. Assume the…

A: Formula for the compound interest is given by,

Q: 3. If you start a bank account with $33,000 and your bank compounds the interest quarterly at an…

A:

Q: 4. Sydney is saving for a down payment on a new home. Each month she deposits $150 into an account…

A:

Q: A bank is offering a special four-year investment certificate paying 3.5% per year, compounded…

A: We can solve it by the mathod of finding compound interest.

Q: 1. A business loan of 1,200,000 pesos is to be paid in full after 5 years. If the interest rate is…

A: Multiple questions-"As per our guidelines we are suppose to answer only one question.Kindly re-post…

Q: what is the FV of the investment. Round  to nearest cent. $7,000 for 4 years at 4.75%  annual…

A:

Q: 1. If you borrow Pho 30,000 at 7.5% simple interest annually for 10 years, how much will you have to…

A:

Q: 4. How long will 1 million pesos earn a simple interest of 200.000 at 2% per annum?

A: Since you have asked multiple questions, we will solve the fourth question for you simple interest…

Q: A student takes out a college loan of $6000 at an annual percentage rate of 3%, compounded monthly.…

A:

Q: Suppose you deposit $5,000 into an account earning 5% per annum. How many years will it take for…

A:

Q: Parents wish to have $150,000 available for a child's education. If the child is now 3 years old ,…

A:

Q: If an investment company pays 6% compounded semiannually, how much should you deposit now to have…

A: Compound interest formula:

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: 5. How long will an amount of P50,000 gain a simple interest of P10,000 at 4% per annum?

A:

Q: If 15,000 is to be accumulated to50,000 in 5 years, what is the ratecompounded (A) quarterly? (B)…

A:

Q: A student takes out a college loan of $6000 at an annual percentage rate of 5%, compounded monthly.…

A: GIVEN: Student takes out a college loan of $6000 Rate = 5% monthly