Eight thousand dollars has to be invested for ten years. For each option below, calculate the balance at the end of the time A bank savings account at interest 7% interest, compound quarterly

Q: You deposit $8500 in an account that pays 1.78% annual interest. Find the balance after 10 years…

A: Here we have to calculate the balance after 10 years when the interest is compounded monthly.

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Q: You deposit $10,000 in an account that pays 2.88% annual interest. Find the balance after 2 years…

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Q: Use the simple interest formula to find the amount of interest earned, then find the total value of…

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Q: Noah invests $3,600 for two years. The account pays 0.43% monthly compound interest. To the nearest…

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Q: Melanie invests $1,000 at 15% simple interest for 1 year. How much is in the account at the end of…

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Q: You deposit $10,000 in an account that pays 2.88% annual interest. Find the balance after 2 years…

A: The objective is to find the balance after 2 years.

Q: Jayden deposits a total of $800 into his savings accor account earns 2% interest compounded…

A: Introduction: The formula of the compound interest is given by, A=P1+rnnt Where P is the principle…

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 15…

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Q: deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in the…

A: Given that; Principal {p} = $ 4000 Rate (r) = 2%  Time = 10 years By using the compound interest…

Q: Towed $3000 from his brother Dave. He agreed to repay the money at the end of 2 year the money had…

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

Q: Personal Loan: Brent Pickett borrowed $4000 from his brother Dave. He agreed to repay the money at…

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

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Q: You have a savings account into which you invest $75 at the end of every month and the account pays…

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Q: Dr. Seals borrows $15,000 to remodel her backyard. The interest rate is 3%. The interest is…

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Q: you deposit $1500 into an account with 4% annual compund interest. complete the following, assuming…

A: The rate of change = Amount A x rate of interest, rHence, 150 = A x 4%Hence, A = 150 / 4% = $ 3,750

Q: you deposit money into an account paying 9% annual interest compounded monthly you need the account…

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Q: The Omega Venture Group needs to borrow to finance a project. Repayment of the loan involves…

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Q: If you leave $4200 in the account earnings 7% interest compounded daily how much money will be in…

A: solution is given below..

Q: You deposit $1600 in a bank account that pays 2.5% annual interest compounde monthly. Find the…

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Q: Marcus received an inheritance of $14,000 he decides to invest the money in a 19 your certificate of…

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Q: Jim makes a deposit of $12,000 in a bank account. The deposit is to earn interest annually at the…

A: Given: Jim makes a deposit of $12,000 in a bank account. The deposit is to earn interest annually at…

Q: Liza borrows 15,000Php for 3 years and agrees to pay 6 % compound interest for this period. What…

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Q: Find the compound amount for the deposit and the amount of interest earned. $8100 at 9% compounded…

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Q: You deposit $2000 in an account earning 3% interest compounded monthly. Round each answer to the…

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Q: A bank offers 0.25% annual simple interest for a deposit. If you deposit ₱500,000.00, how much…

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Q: At age 20, you start an IRA to save for retirement. You deposit $65 at the end of each month. If you…

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Q: Down Payment To start a new business, Beth deposits $1000 at the end of each 6-month period in…

A: Given: Deposits at 6 month period=$1000Rate of interest compounded semiannualy=8%Total time period=8…

Q: A loan of $15.000 is made at 7.75% interest, compounded annually. After how many years will the…

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Q: A loan is paid off in 5 years with a monthly payment of $125 and an interest rate of 4.1% compounded…

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Q: You deposit $3000 in an account that pays 5% interest compounded yearly. Find the balance after 7…

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Q: Lilly open a compound interest savings account and his initial deposit was $992. The account pays…

A: Given, P=$992, r=4.61%=0.0461, n=1(since compounded annually), t=7

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: You have $400,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

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Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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Q: Jessica borrowed $3300 from the bank in order to buy a new piano. She will pay it off by equal…

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Q: You deposit $1100 in an account with 4% annual compound interest. Complete the following, assuming…

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Q: harry borrowed an amount of money from donna. he agrees to pay the principal plus interest by paying…

A: Given:-                  Rate                    8 %          n                        4  Effective…

Q: your goal is to create a college fund for your child. suppose you find a fund that offers an APR of…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: You deposit $400 in an account earning 3% interest compounded annually.  How much will you have in…

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Q: At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of…

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Q: How much would you need to deposit in an account now to have $3,000 in the account in 5 years?…

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Q: Ned deposits $15,000 in a certificate of deposit.  The annual rate is 9% and will be compounded…

A: We know the compound interest formula:A=P1+rnntWhere A=final amount          P=Principle amount…

Q: Maria borrows $12 000 at 9%/a interest compounded monthly for 10 years. How much money will she owe…

A: Solution:

Q: You deposit $2000 in an account earning 7% interest compounded monthly. How much will you have in…

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Q: A school soccer team needs $9000 in 2 years to travel to a tournament in Florida. The team decides…

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Q: You deposit $2000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given:    A = 2000    t = 10   r = 5% = 5/100 = 0.05  Compound Monthly : n = 12

Q: You decide to invest $500o for 5 years at an annual rate of 8% compound quarterly. How much is the…

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Q: Es A loan of $15,000 is made at 8% interest, compounded annually. After how many years will the…

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Q: You deposit $1200 in an account with 4% annual compound interest. Complete the following, assuming…

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