Classify the financial problem. Assume a 6% interest rate compounded annually. Find the value of a $1,000 certificate in 4 years.   Answer the question. (Round your answer to the nearest cent.) $ =

Q: Carrie took out a $12,000 personal loan to pay off her credit cards. She will not make a payment for…

A: (you are not mention clearly interest rate ,is it monthly or yearly) Given Principal P=$12,000…

Q: A college plans to set up an endowment fund that will provide a scholarship of $4,000 at the end of…

A: Given that the scholarship a college provides at the end of every quarter year in perpetuity is…

Q: A company needs $3,300,000 in 15 years in order to expand their factory. How much should the company…

A: Given :   P = 3300000 r = 4.3 % = 4.3/100  = 0.043  t = 15  Given compound weekly so  n = 52 t = 15…

Q: Find the balance on an account if you invest $ 759 at 3.9 % for 2 years compounded monthly.

A: Given: Amount of money invested is $759. Rate of interest is 3.9%. Time is 2 years. Rate is…

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: Parents wish to have $110,000 available for a child's education. If the child is now 9 years old,…

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Q: You deposit $2000 in an account earning 8% interest compounded quarterly. How much will you have in…

A: Given that:                     Principal amount, P=$2000Rate of interest, r=8%Time period, t=15

Q: Treasure mountain international school in park city, Utah,  is a public middle school interested in…

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Q: If $3000 is deposited in an account paying 3% compounded quarterly, Blank 1 how much interest will…

A: First I have written compound money formula , just use them for given problem and find the interest…

Q: Brad has a government bond that will be worth $10,588.13 in seven years.  The bond has an interest…

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Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest…

A: The expression used to evaluate the amount in compound interest is as follows: Amount =P1+r100nnt,…

Q: Kevin deposits a fixed quarterly amount into an annuity account for his child's college fund. He…

A: Given data: The future value is FV=$80000. The time taken is t=13 years. The APR is r=3.3%.

Q: A metallurgist purchases car for total cost including tax and license of $37,695.66. If the…

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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: James deposits a fixed monthly amount into an annuity account for his child's college fund. He…

A: Consider the provided question, James deposits a fixed monthly amount into an annuity account for…

Q: A couple purchasing a home budget $1500 per month for their loan payment. If they have $18,000…

A: Part (a):   According to the given information:   The monthly payment = $1500   Loan period = 25…

Q: A loan company offers money at 1.5% per month compounded monthly. What is the nominal interest rate?…

A: According to question given that Loan company offer 1.5% per month compounded monthlyNominal…

Q: Brad invests $6,700.00 in an account paying 6% compounded monthly. How much is in the account after…

A: Given that Brad invests $6700.00 in an account paying 6% compounded monthly. Find how much is in the…

Q: Caitlin purchases a retirement annuity that will pay her $2,500 at the end of every six months for…

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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: How much is P1,200 worth at the end of 1 year if the interest rate of 5.5% is compounded quarterly?…

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Q: A furniture set is purchased with a downpayment of 75,000 php, and the balance at 10,000 php a month…

A: Let's find.

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 5% interest…

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Q: Classify the financial problem. Assume a 11% interest rate compounded annually. What annual deposit…

A: Classify the financial problem. Assume a 11% interest rate compounded annually.What annual deposit…

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

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Q: A lottery offers you a choice of $1,000,000 per year for 25 years or a lump-sum payment. What…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=1000000 t=25 years…

Q: Mckenna’s family bought a cottage and now have a mortgage in the amount of $78 000. They will repay…

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Q: You decide to quit using your credit card and want to pay off the balance of $9,600 in 4 years. Your…

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Q: You borrow $10,000 from a bank for three years at an annual interest rate of 12% compounded…

A: Based on the formula of compound interest, A = P (1 + r/n)^(n*t) A = Total Sum P = Principle value r…

Q: How much interest will this account earn, if compound interest is calculated yearly? Principal =…

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Q: Sarah secured a bank loan of $190,000 for the purchase of a house. The mortgage is to be amortized…

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Q: A woman wants to borrow $12,500 in order to buy a car. She wants to repay the loan by monthly…

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Q: Parents wish to have $110,000 available for a child's education. If the child is now 9 years old,…

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

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Q: Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they…

A: Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they…

Q: Parents wish to have $100,000 available for a child's education. If the child is now 6 years old,…

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Q: Parents wish to have $150,000 available for a child's education. If the child is now 8 years old,…

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Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 8% interest…

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Q: At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of…

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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: Determine the periodic deposit. Round up to the nearest dollar. How much of the financial goal comes…

A: It is given that, Rate: 7.5% compounded monthly Time: 3 years Financial Goal: $25,000

Q: A couple purchasing a home budget $1,400 per month for their loan payment. If they have $17,000…

A: (a) Given: A couple purchasing a home budget $1,400 per month for their loan payment. If they have…

Q: Grandparents plan to open an account on their grandchild's birthday and contribute each month until…

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Q: Jesse purchases a retirement annuity that will pay him $1,500 at the end of every six months for the…

A: 9years +3 years =12 years r=3.5%t=11n=4 Payment received =1500×2×9+600×12×3=27000+21,600=$48,600

Q: You deposit $2000 in an account earning 4% interest compounded quarterly. How much will you have in…

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Q: Knowledge Check Chang borrowed $8000 at a rate of 9%, compounded quarterly. Assuming he makes no…

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Q: As a new engineer, you wanted to earn and availed an investment insurance. Every month you are going…

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Q: What is the amount of money (P) that must be deposited in an account that pays 1% annual interest,…

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