Doug Bennett deposited $2,000 into a new saving account that earns 3.25 percent compounded semiannually (6 months). He made no other deposits or withdrawals. What was his amount in the account at the end of 1 year?

Q: Find the present value of amount. $45,678.93 if interest is 7.2% compounded monthly for 11 months

A: To find Present value, if  Amount, A=$45,678.93rate, r = 7.2%time, t = 11 monthscompunded monthly

Q: Mark deposits $1000 each month in a retirement plan paying 7% compounded monthly. How much will he…

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

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Q: In order to accumulate enough money for a down payment on a house, a couple deposits $385 per month…

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Q: Find the interest rate for each deposit and compound amount. 6) $8000 accumulating to $12,384.48,…

A: Recall the following fact.

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

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Q: Demetrius Jackson places $37,000 in a 10-year certificate of deposit yielding 6% compounded daily.…

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Q: Sarah deposited $6,800 in an account paying 2.5% per annum compounded semi-annually. How much will…

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Q: Kathy Crag, the owner of The Fabric Corner, lent $15,000 to Dani Flynn to open her own card shop.…

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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: Find the amount owed at the end of 3 years if $600 is loaned at a rate 3% compounded monthly. (Round…

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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: Justin received an excellent interest rate for his loan of $7,000. Calculate the nominal interest…

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Q: Mark deposits $1000 at the end of every 6 months in his bank account. If the bank pays 6% compounded…

A: Given, Mark deposits $1000 at the end of every 6 months in his bank account. If the bank pays 6%…

Q: Grandma Riley wants to help Scott while he's in college by giving him a $220 monthly allowance for 5…

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Q: Clearlake optical has a $50000 note due in 3 years. The owners wish to create a sinking fund to pay…

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Q: Find the interest rate for each deposit and compound amount.  $8000 accumulating to $11,672.12,…

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Q: If Ms. Nabilog invests Php 1,000 in a savings account that offers an interest of 9% compounded…

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Q: Your car loan payment extends for six years at 8% interest compounded monthly. After how many months…

A: To find the number of months required to pay off half of loan.

Q: Find the amount of an annuity that consists of 24 monthly payments of $500 each into an account that…

A: Monthly payment= R= $500 Number of payments = n= 24   Interest = r=i/n= 8%/12 = 0.08/12

Q: 12. Pal's Pizza deposited $4700 in an account paying 3,% compounded daily on April 2 and deposited…

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Q: find the least amount  that could be deposited in a bank account today at 12% compounded quarterly…

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Q: Accumulate P56, 000 compounded monthly for 2 years and will repay interest of 10.75%

A: To Accumulate P56, 000 compounded monthly for 2 years and will repay interest of 10.75%

Q: Milena deposited ​$9,000 in a certificate of deposit​ (CD) account that pays 3​% annual​ interest…

A: Given query is to find the amount accumulated in the account after 5 years.

Q: Shelby received a 15 year loan of $250,000 to purchase a house. the loan was 5.10% compounded…

A: Loan Amortization Formula A=Pi(1+i)n(1+i)n-1 where A is payment amount per period P is loan amount i…

Q: Felipe deposited $3000 into an account with a 8% annual interest rate, compounded semiannually.…

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Q: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A: Given: Initial amount (P)= $10,000 Rate of interest (R)=7% Time period (t)=18   The formula for…

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Q: You deposited $900 into a savings account paying 2% compounded quarterly. Two years later, you…

A: Given:  You deposited $900 into a savings account paying 2% compounded quarterly. Two years later,…

Q: What is the purchase price on a car that has a $264 monthly payment for 5 years, financed at 8% per…

A: The purchase of a car that has a $264 monthly payment for 5 years, financed at 8% per year,…

Q: The payment on a 15 year loan at 9.36% compounded weekly is $180. Calculate the amount of the loan.

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Q: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

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Q: Lori deposited $4,500 into a 30-year retirement account that earns 3% annual interest, compounded…

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Q: In order to accumulate enough money for a down payment on a house, a couple deposits $327 per month…

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Q: Casey received a loan of $27,000 from the bank at 4.50% compounded monthly. If he had to repay $250…

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Q: In order to help pay for his trip abroad for his spring semester of his senior year in college, Marc…

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Q: In buying a car, Amiel pats P 210,000.00 cash and agrees to pay P790,000.00 for 4 years at 12%…

A: Given that, in buying a car, Amiel pats P 210,000.00 cash and agrees to pay P790,000.00 for 4 years…

Q: For the last 12 years, Colin has contributed $110 each month into a retirement savings account. If…

A: Given that n = 12 years d (amount added every month)= $110

Q: Every three months, Mahmood deposits $1100 into an account paying 6% compounded quarterly. Find the…

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Q: Mrs. Vicky Guevarra deposited P18, 500 in a saving account on June 30, 2017 at a rate of 6%…

A: Given Mrs. Vicky Guevarra deposited P18500 in a saving account on June 30, 2017. She withdraws all…

Q: If I would like to have $250,000 in my savings account after making contributioms for 30 years, what…

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Q: A Php 500,00.00 trust-fund was set up and to be used by an 8-year old niece when she goes to…

A: It is given that, Principle value , P=50000 Time =10 years Interest Rate, r=9.75%=0.0975 Since,…

Q: Calculate the amount of simple interest earned. Round to the nearest dollar. $2000 at 9% interest…

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Q: Karen gaines invested $15,000 in a money market account with an interest rate of 2.75% compounded…

A: Given information:Principal amount (P)= $15,000Rate of interest (r)= 2.75% = 0.0275Time (t) = 4…

Q: Doug invests a sum of money in a retirement account with an annual interest rate of 7% compounded…

A: Given that  Doug invests a sum of money in a retirement account with an annual interest rate of 7%…

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

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Q: Find the amount of money that you will have in the bank at the end of 15 years if you deposit $2,500…

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Q: $5000 are invested in a bank account at an interest rate of 5 percent per year.

A:

Sequence and Series

A sequence is defined as a collection of things. Series is defined to sum the things one by one in the sequence.  It was invented by German mathematician Carl Friedrich Gauss.