$2500 is invested at 2.6% per year, compounded quarterly. in which year after the initial investment, will the investment reach $3000?

Q: Find the amount in the account for the given principal, interest rate, time, and compounding period,…

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Q: Sean invests $2000 at 6% compounded quarterly for three years. Find the amount of the investment at…

A: Principal, P = $2000Rate = 6%Time = 3 yearsSo, Rate = 64 = 1.5% annuallyTime, T = 3x4 = 12 years

Q: Use the formula :to calculate the balance A of an investment when P = $3000, r = 6%, and t = 10…

A: Given :  P = $3000, r = 6% and t = 10 years

Q: How many years will P 100,000 earn a compounded interest of P 50,000 if interest is 9% compounded…

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Q: ys has a balance of $532 on his credit card. the account has a 19% annual interest rate , compounded…

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Q: An RRSP is an investment offered by many financial institutions. In a particular RRSP, which is…

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Q: P500 is deposited each year into a savings account that pays 5% nominal interest compounded…

A: We have to find the final amount at the end of given time.

Q: a savings account that earns 10 % interest per year. The interest

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Q: Robert has $60,000 in a savings account. The interest rate is 2 % per year and is not compounded.…

A: Since the interest rate is not compounded, it's a question of simple interest.

Q: Sally has $8,223 in a savings account. The interest rate is 10%, compounded annually. To the…

A: We have to find interest

Q: Sam and katie have a new grandson. how much money should they invest now so that he will have…

A: The compound interest formula is,

Q: O $30,000 is invested at 6% interest compounded quarterly, Using the formula A= P(1+)nt determine…

A: A=31500$

Q: You have $1200 to invest in a bank account with an interest rate of 5.5%, compounded monthly. After…

A: Given , Principal = P =  1200 $ Rate of interest = R =  5.5 % Final amount = A =  2000 $ No. of…

Q: Pascal receives a financial gift from his grandparents, which he invests at an interest rate of 5.5%…

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Q: Finance. Suppose that $6,000 is invested at 5.2% annual interest rate, compounded monthly. How much…

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Q: Kyle has a $15,000 in college debt when he graduates. He will pay it back with regular monthlly…

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Q: How much money must you invest at an interest rate of 6% compounded quarterly in order to have $2000…

A: The compound interest can be calculated by the following formula:  A= final amount = $2000 P =…

Q: Investing In how many years will $40,000 investedat 8%, compounded annually, grow to $86,357?

A: Investing In how many years will $40,000 invested at 8%, compounded annually, grow to $86,357?…

Q: Lee puts 10,000 into a stock market index mutual fund that grew at an average of 70% per year for 10…

A: Lee puts 10,000 into a stock market index mutual fund Initial amount invested = 10000 rate of…

Q: How much will you have in an account after 25 years if you put $1900 per month in the account earns…

A: Amount after t years on investing Principal amount of $P in an account with R% of rate of interest…

Q: Use the compound-interest formula to find the account balance A, where P is principal, r is interest…

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Q: Which investment results in the greatest total amount? Investment A: $5,000 invested for 5 years…

A: Given,         Investment A : $5000 invested for 5 years compounded semiannually at 7%.…

Q: Find the balance on an account if you invest $ 161 at 3.6% for 5 years compounded annually

A: We have to find the balance on an account if you invest $ 161 at 3.6% for 5 years compounded…

Q: 4. When Sarah was 7 years old, her parents invested $10 000 for her in a plan that earns 5 % per…

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Q: The annual percentage yield, or APY, gives the effective interest rate on an investment based on the…

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Q: Amparo invested a certain amount at 10% simple interest per year. After 2 years, the interest she…

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Q: Sergio70's goal is to have $109,000 in 42 months. At First National Investors Bank, he can get 6.70%…

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Q: Jesse and Kendra have a new grandson. How much money should they invest now so that he will have…

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Q: A loan of 18,000 is made at 4.5% interest, compound annually. After how many years will the amount…

A: Given, Principal = p = 18,000Rate of interest = r = 4.5%  compounded annually Amount = A  ≥24, 000…

Q: Ghassan is planning to buy a car in B years. He wants to invest RO (A + 300) and hopes to have RO (A…

A: A=18B=19 By the formula. We have, Future value=Present value1+rt Where r=rate  And    t=time

Q: Tessa invests $5700 in a new savings account which earns 3.7% annual interest, compounded…

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Q: Hugo has $10 in a savings account. The interest rate is 5%, compounded annually. To the nearest…

A: Given,  Principal = p = $ 10. Interest rate = r =  5%, compounded annually. Time period = t = 3…

Q: Amy got a $13,000 insurance settlement, which she wants to invest for her future home. If she…

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Q: Rex deposited $1,000 into an account that earns 5% compound interest, compounded annually. How much…

A: Compound interest formula F= P(1+r/100)n Where , F= Future worth C                P= Present worth…

Q: T= 0,025 If you invest $10,400 in the United States, and the interest is compounded monthly, when,…

A: Given Principle value P =$10,400 Amount A=$20,000 Rate  of interest r=0.025 To find when the amount…

Q: Harpreet receives a financial gift from her grandparents, which she invests at an interest rate of…

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Q: Emily invested 315 at 3% compounded quarterly. How long will it take her to double her money? Show…

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Q: Compounding - Solve for Time Noah invested $8,600 in an account paying an interest rate of 2.4%…

A: Given Noah invested $8,600 in an account paying an interest rate of 2.4% compounded monthly.…

Q: How long will it take money to triple if it is invested at 4.5% compounded quarterly? 11.4%…

A: Let the principal amount be A.The total amount, when the amount is compounded quarterly is given by,

Q: Kutter invests $ 500 in a savings account that earns 1.3 % compounded annually.  Olivia invests $…

A: Kutter invests $ 500 in a savings account that earns 1.3 % compounded annually.  Olivia invests $…

Q: $2000 is invested for 15 years with an APR of 5% and monthly compounding

A: Given information P=$2,000 Rate of interest r=5%  ⇒r=5100=0.05 Time t=15 years For quarterly…

Q: Goofus waits until he is 35 years old to start saving.

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Q: In how many years will the amount of P10,000 triple if invested at an interest rate of 10%…

A: Given the statement.. In how many years will the amount of P10,000 triple if invested at an interest…

Q: Finance: Suppose that $6,400 is invested at 3.7% annual interest rate, compounded monthly. How much…

A: $6,400 is invested at 3.7% annual interest rate, compounded monthly.

Q: Sergio and Wendy have a new grandson. How much money should they invest now so that he will have…

A: Please see the answer in Step 2

Q: P = $500, r = 9% compounded quarterly, t = 6 years

A: Topic- compound interest

Q: Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded annually. At the…

A: Here, given that Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded…

Q: Timber Inc. invested profits of $215,000.00 in a GIC at 4.51% compounded monthly. How long would it…

A: The compound interest formula is A=P1+r12t, where A is the total amount, P is the principal, r is…

Q: Emily has saved $6,000 and wants to double her money in order to buy a new home. If she invests it…

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