DeShawn invests a sum of money in a savings account with a fixed annual interest rate of 8.64% compounded 2 times per year. After 11 years, the balance reaches $16,948.18. What was the amount of the initial investment?

Q: $19000 is invested for 5 years with an APR 3% and daily compounding, what is the balance in the…

A: We have to find future amount for given Questions.

Q: Lincoln invested $930 in an account paying an interest rate of 5.6% compounded daily. Assuming no…

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Q: Mr. Gordon plans to invest $200 at the end of each month in an account that pays 9%, compounded…

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Q: Shawn made equal deposits at the beginning of every 3 months into an RRSP. At the end of 10 years,…

A: Let quarterly deposits be x  Interest rate = 2.2512%=0.001875  Time = 10 years Period n = 10 x 12 =…

Q: Tommy has $4,000 in a savings account that earns 13% interest, compounded annually. To the nearest…

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Q: Mary's saving account has a balance of $7254. After 12 years at a rate of 4.2% compounded…

A: Note -  Acc. to Bartleby guidelines, we are supposed to do only one question. If you want more to be…

Q: Pesse Jinkman, a chemistry student at PCC, will be depositing $15,000 at the end of every quarter…

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Q: Steve decided to deposit $4,680 into a savings account with 6.5% interest, compounded quarterly.…

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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: Rick deposited $1500 into his saving account every month for 8 years. How much money does Rick have…

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Q: Mason invested $65,000 in an account paying an interest rate of 4.6% compounded annually. Assuming…

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Q: You want to have $100,000 when you retire in 10 years. If you can earn 3% interest compounded…

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Q: An initial deposit of $1300 earns 7 % interest, compounded monthly. How much will be in the account…

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Q: Lily invested $90,000 in an account paying an interest rate of 4.6% compounded annually. Assuming no…

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Q: To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16 years.…

A: Given that, To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16…

Q: A credit card has a compound interest rate of 22.5% per year on overdue balances. How much interest…

A: According to question given thatCredit card interest rate= 22.5% per yearBalance= $485.00

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: You deposit $2000 at the beginning of each year into an account earning 4% interest compounded…

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Q: You want to have $200,000 when you retire in 25 years. If you can earn 9% interest compounded…

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Q: You want to have $500,000 when you retire in 30 years. If you can earn 4% interest compounded…

A: We have to set up the compound formula first.

Q: Bill invests $4,976 in a retirement account with a fixed annual interest rate of 7.80% compounded 2…

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Q: Berno deposits $30,000 into an account paying 3.25% annual interest, compounded quarterly. How much…

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Q: If compounded monthly, a loan will be amounting to P132, 400.00 if invested at 11.5% interest for…

A: The solution to the given question is explained below.

Q: Brian invests $11,500, at 6% interest, compounded semiannually for 2 years. Manually calculate the…

A: Compound interest

Q: Sumi Kato's savings account has a balance of $1,596. After 21 years what will the amount of interest…

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Q: Mr. Gordon plans to invest $600 at the end of each month in an account that pays 6%, compounded…

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Q: You put $8,000 into an account that earns 4% interest compounded annually. How much money will be in…

A: We have to apply the compound interest formula for the given problem.

Q: Adrian invested $7,200 in an account paying an interest rate of 3.1% compounded monthly. Assuming no…

A: P=$7,200,  r=3.1%=0.031,  A=$12,110,  n=12

Q: Steve decided to deposit $3,285 into a savings account with 4.5% interest, compounded quarterly.…

A: Here we have to find how much money Steve have after 4 years in his account. The details calculation…

Q: Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for…

A: Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for…

Q: If you deposit P4000 into an account: paying 6% annual interest compounded quarterly, how much money…

A: Compound interest

Q: You deposit $3200 in a bank with annual interest rate of 3.5% compounded annually. What would you…

A: The deposit is $3200, interest rate is 3.5% compounded annually. The balance amount be 5 years later…

Q: Damian invested $880 in an account paying an interest rate of 5.2% compounded annually. Assuming no…

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Q: Claire invested $2,400 in an account paying an interest rate of 3.5% compounded monthly. Assuming no…

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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: Ariana is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much…

A: r=3.7%  A=$25000 t=14 years  n=12 (compounded monthly)

Q: Mr. Gordon plans to invest $300 at the end of each month in an account that pays 6%, compounded…

A:

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: Erin has $250,000 saved for retirement in an account earning 3.4% interest, compounded quarterly.…

A:

Q: Brian invests $15,500, at 8% interest, compounded semiannually for 2 years. Manually calculate the…

A: Given :Brain investment $15,500 at 8% interest compounded semiannually for 2 yearsWe have to find…

Q: A deposit of $550 is made in a savings account that pays an annual interest rate of 1% compounded…

A: The formula of the compound interest is, A=P1+rnnt where, A=Amount after the periodP=principal…

Q: You deposit $4000 in a bank with annual interest rate of 3.5% compounded monthly. What would your…

A: Here, P=$4000, n=1, r=0.035, and t=20.

Q: Karen has $1000 from investing in an account that pays 3.2% interest compounded quarterly at the end…

A: We will use formula for compound interest.

Q: unt that

A: In this question, the concept of Compound Interest is applied. Compound Interest Compound interest…

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: Delfina would like to save $450 at the end of every three months for the next 6 years in a savings…

A: a Here, interest is compounded annually. Amount is deposited every 3 months. Hence, deposited amount…

Q: Berno deposits $30,000 into an account paying 4.25% annual interest, compounded monthly. How much…

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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: John makes annual deposits of $1600 to an an IRA earning 7% compounded annually for 16 years. What…

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