Evelyn is going to invest $3,500 and leave it in an account for 16 years. Assuming the interest is compounded quarterly, what interest rate, to the nearest tenth of a percent, would be required in order for Evelyn to end up with $6,200?

Q: Samuel is going to invest $1,700 and leave it in an account for 16 years. Assuming the interest is…

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Q: year compounded yearly, find the value of the investment at each given time and round to the nearest…

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Q: I know that in 10 years I will need $60,000 to buy one Dogecoin. I happen to find an online bank…

A: NOTE: Refresh your page if you can't see any equations. . here we have A=60000 r=22%=0.22  n=2 for…

Q: In preparation for her son's educational tour 18 months from now, Johnny Sins invested $21,000 and…

A: It is given that p=21000, A=35000, t=18

Q: To the nearest penny, how much would you have to invest right now in a fund paying 5% continuously…

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Q: If I have an account of $9,000 compounded at 6%, what is my balance at the end of one year? At the…

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Q: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: If an amount of money Pin pesos is invested at r percent compounded annually, it will grow to an…

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Q: In its first 10 years a mutual fund produced an average annual return of 21.46​%. Assume that money…

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Q: Assuming that you invest $13,000 in the United States, how long (to the nearest year) must you wait…

A: The formula for compound interest is, A=P1+r100n where, A is compounded amount P is the Principal…

Q: race invested $5,200 in an account paying an interest rate of 4.6% compounded daily. Assuming no…

A: Recall: Formula,  Future value, FV=P1+rnnt We have, P=$5,200, r=4.6%=0.046, n=365(since, compounded…

Q: How much money will be in your account three years after the previous deposit? If you make six…

A: The given data is: P=$2000 r=10%t=3 years Given that compounded semi-annually, therefore Interest…

Q: If the parents in part e invested $10,000 in an account paying 8%, compounded quarterly, how much…

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Q: How much should Rebecca have in a savings account that is earning 3.50% compounded semi-annually, if…

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Q: a present value of $115,000, what is the size of the withdrawals that can be made at the end of each…

A: Step:-1 Formula of Annuity PV = P×1-(1+r)-nr Here, PV = Present value P= value of each payment /…

Q: If $11,000 is invested at 6% compounded quarterly, what is the amount after 4 years?

A: Please find attachment for the details solution

Q: If $22,000 is invested for 27 years and earns 11.5% interest, compounded semi-annually, the…

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Q: If you have ​$50,000 in a bank account that is paying an interest rate of 9 percent that is being…

A: Given information P=$50,000 Rate of interest r=9% ⇒r=9100=0.09 A=2P=$100,000 n=compounded annually=1…

Q: Sophia is going to invest $7,900 and leave it in an account for 6 years. Assuming the interest is…

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Q: The AMD investment company has advertised a new Mutual Fund  that has advertised to pay 10 %…

A: new Mutual Fund that has advertised to pay 10 % compounded continuously. Bob invested $ 8,500 in the…

Q: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

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Q: What amount must be invested now to have $12,000 after 3 years if money is worth 6% compounded…

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Q: 1. Ken is paying 2,500 every 3 months for the amount he borrowed at an interest rate of 8%…

A: Let us find the loan amount for the following EMI program in the next steps.

Q: How much money would you need to invest today at 6% interest compounded quarterly to have 5,387.43…

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Q: If the interest is compounded quarterly, find the nominal rate at which P1,996 accumulates to P3,500…

A: Introduction :

Q: How long will it take P10,000 to accumulate to the amount of P11,000 at 12% compounded monthly?…

A: (As  per Bartleby guidelines we are supposed to answer only one question(& its 3 related…

Q: Tom deposits $25,000 in a savings deposit paying 5%, compounded monthly.  What amount would he have…

A: Given that ,principal amount that investedP=$25,000the rate of interest r=5%=5100=0.05time in…

Q: $3,200 is borrowed at 6.5% interest, find the amounts due at the end of 3 years if the interest is…

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Q: A person needs $15 000 for a down payment on a car. If the person invests $10 000 at 9% interest,…

A: Given  A=15000 P=10000 r=9%=0.09

Q: With a present value of $125,000, what is the size of the withdrawals that can be made at the end of…

A: PV = 125000 n = 10year = 40 quarters r = 0.079/4 = 0.01975

Q: 3. Francisco invest $10,500 at a annual rate of 6% compounded monthly per year. How much money will…

A: Given, P=$10,500 r=6% t=8 years Compounded monthly

Q: If Frank invests $11,400 at 3.7% interest compounded quarterly, how much will his investment be…

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Q: A firm needs to replace most of its machinery in 4 years at a cost of $550,000. The company wishes…

A: Given - A firm needs to replace most of its machinery in 4 years at a cost of $550,000. The company…

Q: A mother is investing $500,000 in a trust fund from which her three children are to receive equal…

A: To find the original amount each child receive

Q: young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the…

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Q: 18. The APR of Bessie's savings account is 6%, and interest is compounded monthly. If the principal…

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Q: If the present value of my investment is $1,000 and the rate of interest is 10% compounded annually,…

A: From the given information, present value of my investment is $1,000 that is P = 1000, the rate of…

Q: How much should be invested now at 7.45% compounded semiannually to have $39,000 in 20 years?

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Q: John had a loan where two payments were required: $1000 in 14 months and $1000 in 18 months. Instead…

A: John had a loan where two payments were required: $1000 in 14 months and $1000 in 18 months. Instead…

Q: You know that you will need $100,000 for your child’s education in 18 years. If your account earns…

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Q: Lydia is going to invest $210 and leave it in an account for 17 years. Assuming the interest is…

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Q: If it takes 12 years and 5 months to double your money (compounded quarterly), how long would it…

A: To determine the time t it will take for the investment to double.

Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Given:  P=$1,000,000r=6.7%=0.067n=2t=12 year To determine: The amount that can be withdrawn from…

Q: John wants to have $40,000 in cash four years from now in order to pay for part of his mortgage on…

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Q: How much money should a company deposit into an account now so that they will have $50,000 in six…

A: here we use the equation of compound interest  amount = P(1 + r/100)n here interest is quarterly so…

Q: At the end of t​ years, the future value of an investment of ​$40,000 at 7​%, compounded​ annually,…

A: I am going to solve the given problem by using some simple algebra to get the required result.

Q: you want to retire with $1,500,000 in 40 years and can earn a rate of 10.8% with monthly…

A: We can find pmt using Excel .

Q: If saving account awards interest of 3 percent per year compounded semiannually, what amount must…

A: In case of interest compoundedly semiannual Rate = annual rate/2 Time = 2* annual time Hence rate=…

Q: If we invest $4,000.00 in an investment accoint with a 3% APR interest rate, compounded monthly, how…

A: here we have  P=4000 r=3%=0.03 n=12 for monthly compound  t=6 years