Determine the amount of money accumulated after 15 years if $1, 000 is invested in an account that pays 10 % interest compounded monthly. Round to the nearest cent.

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $724 per month…

A: We will find out the required value.

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A: Given problem Given that   A = $ 2000 T = 15 years Rate of interest = 7% = 0.07 Compounded monthly…

Q: Find the amount due at the end of 8 years and 6 months if P4, 000 is invested at 7% compounded…

A: Principal amount:  $ 4000 Interest Rate:  r = 7% Time Period:  t = 8 year 6 months

Q: Determine the amount of money accumulated after 5 years if $2, 000 is invested in an account that…

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Q: Andrew deposited half of PhP 130,000 in a certificate of deposit (CD) paying 4% interest, compounded…

A: The compound interest formula is given by A=P(1+rn)nt. where, A is the final amount, P is the…

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 10…

A: See the attachment

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $209 per month…

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Q: Sam deposits $600 at the end of every 6 months in an account that pays 8%, compounded semiannually.…

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Q: Find the final amount of money in an account if $4, 400 is deposited at 3 % interest compounded…

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Q: How much would you need to deposit in an account now in order to have $2000 in the account in 5…

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Q: Find the amount of money in an account after 10 years if $1,300 is deposited at 8​% annual interest…

A: Principal p =$1300 deposited  Rate =8% annual compounded monthly Time = 10 years To calculate total…

Q: Robin, who is self employed, contributes $6500/year into a Keough account. How much will he have in…

A: Principal, P = $6500 per year Time, n = 35 years Rate of Interest, R = 6.5% per year = 0.065

Q: Find the value of a $3,000 certificate in 2 years, if the interest rate is 10% compounded annually.

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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: accumulate enough money for a down payment on a house, a couple deposits $597 per month into an…

A: We will find out the required value.

Q: Find the present value if $8600 is compounded quarterly for 4 years.

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Q: find the amount of money you Will have after 20 years if you inrest $ 25,000 at a rate of 12% if…

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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: An account is opened with an initial deposit of $4600 and earns 7.3% interest, compounded…

A: NOTE: Refresh your page if you can't see any equations. . here we have P=4600 r=7.3%=0.073 n=2 for…

Q: How much should Lindsey's dad invest into a savings account today, to be able to pay for Lindsey's…

A: I am attaching image so that you understand each and every step.

Q: If you want to have a million dollars 31 years from today, how much should you invest in your…

A: The formula for compound interest :   A = P(1+r/n )nt   Where A = Total amount , P = initial…

Q: Find the final amount of money in an account if $2,000 is deposited at 8% interest compounded…

A: Given

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 5…

A: Use formula of compound interest

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

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Q: Find the present value of $30,000 due in 4 years at the interest rate of 5%/year compounded monthly?…

A: The future value of investment is A=$30,000 Number of periods is n=4×12=48 Periodic interest…

Q: The owner of Oak Hill Squirrel Farm deposits $1,000 at the end of each quarter into an account…

A: We will find out the required value.

Q: If 49900 dollars is invested at an interest rate of 9 percent per year, find the value of the…

A: Formula for Compound Interest A=P1+rnnt where A= Accumulated amount P= Principal r= Rate of interest…

Q: you deposit $300 each month into an account earning 2% interest compounded monthly. How much will…

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Q: In order to accumulate enough money for a down payment on a house, a couple deposits $431 per month…

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Q: Find the balance if $23000 is invested in an account paying 6 % interest compounded quarterly for 11…

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Q: Find the amount a college student owes at the end of 2 years if 56400 is loaned to her at a rale of…

A: Given query is to find amount need to be paid after 2 years.

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A: P=Principle=?t=time=15 yearsr=interest rate=8%=0.08A=final amount=$2000n=number of times compounded…

Q: If a bank pays 3% compounded monthly, how much should be deposited now to have $1400 : a) 7 years…

A: Compound interest is given by A=P1+rnnt Given A=$1400, r=3%=0.03, n=12, and t=7…

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 5…

A: Let A(t)= amount in t years.P= Prinicipal(Original investment)r=Annual interest rate(in decimal…

Q: Francine currently has $45,000 in her 401k account at work, and plans to contribute $3,000 each year…

A: We need to find total amount accumulated.

Q: Find the final amount of money in an account if $4,500 is deposited at 2.5% interest compounded…

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Q: Find the principal to get $1000 after 2 years at 6% compounded quarterly?  Round to nearest cent.

A: It is given that, the amount after 2 years is A = $1000, n = 4 since compounded quarterly, r = 0.06.…

Q: Find the amount of money in an account after 4 years if $1800 is deposited at 5% annual interest…

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

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Q: Suppose you deposit $4000 in a CD paying 5% interest, compounded monthly. How much will you have in…

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Q: Recently, More Money 4U offered an annuity that pays 6.6% compounded monthly. If $948 is deposited…

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Q: How much would you need to deposit in an account now in order to have $4000 in the account in 10…

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Q: How much would you need to deposit in an account now in order to have $4000 in the account in 15…

A: Compound Interest Formula:  A=P1+rnnt where A = Amount            P= Principal            r = Annual…

Q: Snape made a deposit of $495 into an account that pays 3% interest compounded annually. How much…

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

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Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $8000, r = 9%, t = 1 year

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Q: find the value of a $3000 certificate in 2 years, if the interest rate is 10% compounded annually…

A: Formula used;-          Amount = Principal(1+rate/100) n(no.of years)

Q: unt that

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

Q: You deposit $400 each month into an account earning 6% interest compounded monthly. How much will…

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