Daniel deposits $8,000 into a continuously compounding interest account. After 18 years, there is $13,006.40 in the account. What was the interest rate?

Q: On​ Melissa's 6th​ birthday, she gets a ​$6000 CD that earns 6​% ​interest, compounded quarterly. If…

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Q: Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel…

A: for both Jackson and Angel , P is $81,000. now Time is 16 years. for Jackson Rate, r is 6.5% which…

Q: Timothy invests $5,000 at 17% interest compounded daily for three years.How much does he have in the…

A: topic- compound interest

Q: When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded…

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Q: Sarah invests $4848 in a savings account with an annual interest rate of 5% compounded 2 times per…

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Q: Jeremy invested his savings in a bank at 5.00% compounded monthly. How much money did he invest to…

A: Solve the above question.

Q: Rochelle invested $100 at the end of every month into an RRSP for 11 years. If the RRSP was growing…

A: Given information Initial principal balance P=$100 Rate of interest r=4.60% ⇒r=4.60100=0.046 Period…

Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: If you save $270 per quarter for retirement in an account that earns 8% interest per year compounded…

A: Given; Saving $270 per quater Rate of interest = 8% Compounded quaterly, n=4 Number of years=…

Q: Trinh invested $3800 at an annual interest rate of 8%, compounded annually. How much will she have…

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Q: Tom wants to have $6000 in three years .at 4.75% interest compounded monthly how much does he need…

A: used formula : A=P(1+ r/n )nt   where A=final amount  P=principal or initial amount r=annual…

Q: Ben Franklin's gift of $5,000 to New York City grew to $7,000,000 in 200 years. At what interest…

A: The principal amount, P = $5,000 Future amount, A = $7,000,000 Time, t = 200 years The number of…

Q: Austin invested $200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no…

A: Austin invested $200 in an account paying an interest rate of 6.1% compounded quartely.

Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

Q: If you invest $2000 at 6% compounded monthly, how long will it take the account to double in value?

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Q: At age twenty six , Dick shoemaker desposited 2,000 into an IRA , where it earns 3% compounded…

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Q: Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If…

A: The amount he invested for new car is:  P = $18,000 Interest rate:  r = 4.9% Interest is compounded…

Q: ecide at what rate compounded monthly will 800 become 4200 for 1

A: Introduction: Compound interest is interest that is compounded at regular intervals on both…

Q: A credit card had an APR of 17.78% all of last year and compounded interest daily. What was the…

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Q: A newborn child receives a $20,000 gift toward a college education from her grandparents. How much…

A: Given that  A baby recives 20000 Interest rate is 7% for 17 years  To find the amount will receive…

Q: Matilda and Horace open a retirement account with $120,000. How many years will it take for the…

A: Find the time taken for the amount $120,000 to grow to $800,000 if it grows at a rate of 4.5%…

Q: A principal of  $4900  is invested at  4.25%  interest, compounded annually. How much will the…

A: use the formula for compound interest for finding the amount.

Q: Joy has ₱ 100,000.00 to invest at 1.11% compounded monthly. How much is the additional interest…

A: If an amount P is invested for t years at a rat o interest r% and if the number of compounding…

Q: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

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Q: A principal of  $4800  is invested at  6.75%  interest, compounded annually. How much will the…

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Q: Karl buys a $2500 investment certificate that pays 3.75% simple interest per year. How much more…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Dylan invested $47,000 in an account paying an interest rate of 4% compounded annually. Assuming no…

A: Formula: The compound interest formula is given by, FV=PV1+rnnt Given: FV=$79,200, PV=$47,000, r=4%,…

Q: If you invest $7,000 in an account paying 3% interest compounded quarterly: how much will be in the…

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Q: An investment has grown from $15,000 to $17,684.23 in 3 years, compounding monthly. What was the…

A: We have to calculate interest rate

Q: Michael invested $50,500 in an account with an interest rate of 4.5% that was compounded annually.…

A: The amount for the compound interest is given by the formula as follows A=P1+rnnt where P is the…

Q: A payment of $1500 is due in three months. Find the equivalent value at nine months if the interest…

A: Given interest rate is 4% compounded quarterly. F.V=P.V(1+r/k)nk Here, F.V= Future value P.V=Present…

Q: . Shirl started to deposit P18,000 semi-annually in a fund that pays 5%E compounded semi-annually.…

A: Given query is to find the amount wccumy after 10 years.

Q: Jason thinks he can save enough to deposit P1,200 in the bank at the end of each year for the next…

A: The future value of an annuity is given by FV=PMT×1+in-1iWhereFV=future value of annuityPMT=cash…

Q: Oliver invested $53,000 in an account paying an interest rate of 2.7% compounded daily. Assuming no…

A: Given P=53,000R=2.7%t=20 yearsWe know that compound interest=P(1+Rm)mt Here m is the no.of…

Q: Madison is going to invest in an account paying an interest rate of 5.1% compounded quarterly. How…

A: Let the amount invested in the account be P Final value of amount in the account(A) is $310 Number…

Q: Riley invested $5,100 in an account paying an interest rate of 7-% compounded quarterly. Ryan…

A: Use the formula A=P1+rnnt. Where P is the principle amount, r is the rate of interest, n is number…

Q: Preston has $8,000 in a savings account. The interest rate is 4%, compounded annually. To the…

A: We have to find compound interest.

Q: For an interest rate of 1% per 2 months, determine the number of times interest would be compounded…

A: Compounding period: The period between the points at which the interest is added to the account.

Q: Inga Moffitt invests a bonus of $9000 at 6% annual interest compounded semiannually for4 years. How…

A: P=$9000,  r=6%=0.06,  t=4  &  n=2 Now total amount earned is,…

Q: Shawn invested $130 at the end of every month into an RRSP for 13 years. If the RRSP was growing at…

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Q: On​ Melissa's 6th​ birthday, she gets a $2000 CD that earns 5​% interest, compounded quarterly. If…

A: Interest is compounded Quarterly. Therefore n=4.

Q: In how many years will an investment of P2000 double in amount if the interest rate is 14.35%…

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Q: If you want to accumulate $ 28,000 in 5 years to purchase a car, how much you need to invest today…

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Q: Sarah invested $3,800 in an account paying an interest rate of 3.6% compounded daily. Assuming no…

A: Given:  Sarah invested $3800 in an account paying an interest rate of 3.6% compounded daily.  To…

Q: How long it would take to double an invesment if the rate of interest is 10% compounded quarterly?

A: Follow the procedure given below.

Q: Madison invested $3,300 in an account paying an interest rate of 6.7% compounded daily. Assuming no…

A: The given data is: Medison invested P=$3300 Rate of interest R=6.7% Time t=5 years To find the…

Q: A company needs $4,400,000 in 13 years in order to expand their factory. How much should the company…

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Q: When he was 12, Brian put $250 into a savings account with a 2.5% annual interest rate. Now that he…

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Q: % interest, compounded annually. After how many years will the amount due reach $44,000

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