Chester hopes to earn $1200in interest in 2.5 years time from $⁢60,000 that he has available to invest. To decide if it's feasible to do this by investing in an account that compounds monthly, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal. What would the annual rate of interest have to be? Round to two decimal places.

Q: The formula S = C(1 + r)t models inflation, where C = the value today, r = the annual inflation…

A: C is the value today and C=$465000 R is the annual inflation rate and r=6% t is the time in years…

Q: You invest $4500 in an account at interest rater, compounded continuously. Find the time required…

A: Given:The invested amount is $4500and Interest rate is 0.0425To find:we have to find the…

Q: Find the time required for an investment of $5000 to grow $6700 at an interest rate of 7.5% per year…

A:

Q: Caleb can lay a slab of concrete in 15 hours, while Kevin can do it in 9 hours.  If Caleb and Kevin…

A: This question is related to time and work , We will solve it using given information.

Q: Nancy wants to invest 2000 in saving certificates that bear an interest rate of 8.75% per year,…

A:

Q: The formula S = C(1 + r)t models inflation, where C = the value today, r = the annual inflation…

A: Given: The inflation rate r = 3% = 0.03 The value of the house today is C = $510,000 The numbers of…

Q: Complete the table to determine the balance A for P dollars invested at rate r for t vears and…

A:

Q: if p dollars is invested at an annual rate r compounded annually l, at the end of 2 years it will…

A: Given that: Principal amount, P = $1000                     Compounded amount, A=$1300…

Q: 3 7. х2 —8

A:

Q: look at attachment need for reference

A: The formula used for Continuous compounding interest:

Q: Sam would like to have $5,000 to buy a used car in four years from now. She has a savings account…

A: Given that, the Future amount is A=$5,000 , time is 4 years, interest rate is 3.53% and the interest…

Q: At 8:30 a.m., a coroner was called to the home of a person who had died during the night. In order…

A: We have given the temperature of body was 84.2°F at 9:00 a.m. and 81.6°F at 11:00 a.m.

Q: The formula  S = C(1 + r)t   models inflation, where C = the value today, r = the annual inflation…

A: We are already given the formula so all we need to do is to plug in the values.

Q: To save for a new car, Trafton invested $7,000 in a savings account that earns 2.5% interest,…

A:

Q: If you want to earn 2% annual simple interest on an investment, how much should you pay for a note…

A:

Q: Jerome will be buying a used car for $6,000 in 2 years. How much money should he ask his parents for…

A:

Q: If you want to earn 2% annual simple interest on an investment, how much should you pay for a note…

A: Consider the  principal is P The rate of interest is R=2%. The time is T=10 months=1012 yrs.  The…

Q: FIVE OTAR 4. A Car defreiciandCLoser valua) ar a rate purchased a car for $1a, 500. Which eQuation…

A:

Q: The balance after T months of a $3,000 investment is given by A(t)= 3000* 1.012^t. Determine how…

A:

Q: The formula S = C(1 + r)t models inflation, where C = the value today, r = the annual inflation…

A: Given  S = C(1 + r)t  where C = today's value ,r = annual inflation rate and S = inflated value…

Q: How much would you have to invest at 3% interest compounded annually in order to have $15,000 at the…

A:

Q: The population reaches 1.1 times its previous size in 2 years. This is represented by the formula:…

A: Given that the initial number of patrons= 570 This means P=initial value=570 So the formula becomes…

Q: The annual rate, r, compounded annually, it takes for 1 dollar to grow to A dollars in 2 years is…

A:

Q: Mary needs to borrow $10,000. She can borrow the money at 6% simple interest for 5 yr or she can…

A:

Q: Together two computers cost $2700 per year to rent. If one costs twice other, what is the monthly…

A: Total cost to rent for one year for both computer is : $2700

Q: Tom and Jerry can mop the floor in 37 minutes if they work together. If Tom works 5 times as fast as…

A: We are solving first question only as per the answering guidelines. If you want any specific…

Q: You invest at 7% interest, compounded monthly. How long does it take for your money to triple?

A: The compound interest formula is  A=P(1+r/n)nt ; Where, P= principal             r=interest rate…

Q: using the formula: a=p(1+(r/n))^(nt), determine how many years, to the nearest hundredth, it will…

A: We have  Principal investment, P = $30,000 Rate, r =1% interest compounded monthly We have to find…

Q: To open a small business you need an initial investment of $85,000. Your costs each week will be…

A:

Q: Maria's parents invested $14,000 at 6% per year compounded monthly. How much money will there be in…

A: Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other…

Q: To save for a new car, Trafton invested $3,000 in a savings account that earns 1.5% interest,…

A: Given that Trafton invested $3000 into saving account at the compound interest of 1.5% for 4 years.…

Q: Renata invested $500 at 5% compounded monthly for 4 years. What will the investment be worth at the…

A: We know that, A= P(1+(r/n))nt where, = final amount = initial principal balance = interest…

Q: compounded continuously. Find the time required for the amount to double and triple. (Round your…

A:

Q: ose hopes to earn $700 in interest in 4.1 years time from $56,000 that he has available to invest.…

A:

Q: In order to save for her high school graduation, Marie decided to save P200 at the end of each…

A: Given: Monthly amount (R) = 200 Monthly interest rate (i') = 0.000208 Time in months (n) = 72

Q: An economist predicts that the buying power B(x) of a dollar x years from now will decrease…

A: To find the (decreasing) purchasing power of the dollar under the given model

Q: Jerome will be buying a used car for $6,000 in 3 years. How much money should he ask his parents for…

A: Compounding continuously formula:

Q: Approximately how long it would take an investment of 5,000 to double with an interest rate of 3.5%

A: Given that, Investment or principal (P) = 5000 Rate of interest (r) = 3.5% Amount (A) = 2 x 5000 =…

Q: To save for a new car, Trafton invested $5,000 in a savings account that earns 3.5% interest,…

A: We can find the required answer as below.

Q: How long will it take an investment of $9000 to double if the investment earns interest at the rate…

A:

Q: Use a calculator to solve the equation. (Round your solution to three decimal places.)    x…

A: Solve the equation.

Q: Use the formula for simple interest I = Prt and solve. %3D John is going to invest $1418 at 8%…

A:

Q: Sung Lee invests $8,000 at age 18. He hopes the investment will be worth $32,000 when he turns 25.…

A: Given: P=$8000t=25-18=7 yearsA=$32000

Q: A sum of money invested at compound interest doubles itself in 3 years. In how many years will it…

A: B) 9 years

Q: Michael borrows money from his uncle, who is charging him simple interest using the formula 1 =Prt.…

A: Simple Interest Question

Q: 8. You have $5000 toward the purchase of a boat that will cost $6000. How long will it take the…

A: the amount A=$6000 The principal P invested is $5000 rate of interest r = 5% use the compound…

Q: A sum of money was invested at a constant interest rate compounded annually. After five years, the…

A:

Q: Jerome will be buying a used car for $11,000 in 2 years. How much money should he ask his parents…

A: Explained below

Q: Jerome will be buying a used car for $12,000 in 2 years. How much money should he ask his parents…

A:

Q: You are given a choice of taking the simple interest on 100,000 invested for 2 years t the rate of…

A: To compare the interests earned through the two different investments.