Find how much money should be deposited in a bank paying interest at the rate of 5.5%/year compounded quarterly so that at the end of 8 years, the accumulated amount will be $40,000. (Round your answer to the nearest cent.)

Q: A house is rented for $6,800 per quarter, with each quarter's rent payable in advance. If money is…

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Q: What lump sum do parents need to deposit in an account earning 12%, compounded monthly, so that it…

A: Given, The amount obtained after 10years is $100,000. interest rate is 12% & compounded monthly.…

Q: Suppose you deposit $2,500 in a CD paying 8% interest, compounded every other month. How much will…

A: Given that, The deposit $2,500 in a CD paying 8% interest, compounded every other month. Calculate…

Q: Parents wish to have $160,000 available for a child's education. If the child is now 10 years old,…

A: The formula for the future value is given by FV=PV1+rnnt  where PV is the present value, r is the…

Q: What lump sum do parents need to deposit in an account earning 13%, compounded monthly, so that it…

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Q: Suppose an annuity will pay $13,000 at the beginning of each year for the next 6 years. How much…

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Q: What lump sum do parents need to deposit in an account earning 15%, compounded monthly, so that it…

A: Given:F.V=100,000r=15%t=18years

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: P=Principle=?t=time=5 yearsr=interest rate=6%=0.06A=final amount=$5000n=number of times compounded…

Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

A: Given:

Q: What lump sum do parents need to deposit in an account earning 9%, compounded monthly, so that it…

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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: What lump sum do parents need to deposit in an account earning 12%, compounded monthly, so that it…

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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: What lump sum do parents need to deposit in an account earning 5%, compounded monthly, so that it…

A: For monthly compound interest, we know, Where,  A = Accumulated amount  P = Principal amount r =…

Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

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Q: A business must raise $80,000 in 7 years. What should be the size of the owners' quarterly payment…

A: Here Pt=80000, t=7, n=4, r=3%=0.03 ,d=? *** This is the problem related to financial mathematics and…

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: A house is rented for $2100 per quarter, with each quarter's rent payable in advance. If money is…

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Q: A house is rented for $6,700 per quarter, with each quarter's rent payable in advance. If money is…

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Q: If $8,000 is invested at 3% compounded quarterly, what is the amount after 5 years? The amount after…

A: Given that, P = $8000 r = 0.03 n= 4 t = 5 years The formula for calculating the compound interest…

Q: What lump sum do parents need to deposit in an account earning 11%, compounded monthly, so that it…

A: This is a question of compound interest. Amount, A =$80000 Rate, R= 11% number of years, n= 13 let…

Q: Find the present value of $30,000 due in 6 years at the given rate of interest. (Round your answer…

A: To Determine: Find the present value of $30000 due in 6 years at the given rate of interest. 7% per…

Q: Find the present value of $60,000 due in 5 years at the given rate of interest. (Round your answer…

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Q: A MasterCard statement shows a balance of $560 at 13.9% compounded monthly. What monthly payment…

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Q: Use the formula for present value of money to calculate the amount you need to invest now in one…

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Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: To solve the following problem when compounded anually.

Q: A business must raise $90,000 in 6 years. What should be the size of the owners' quarterly payment…

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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: Robin, who is self-employed, contributes $4500/year into a Keogh account. How much will he have in…

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Q: Patty Stacey deposits $2800 at the end of each of 5 years in an IRA. If she leaves the money that…

A: Her amount accures by the formular. A = P(1+r/n)^nt. Where her principal P = $2,800. Rate, r =7%…

Q: An employee wants to retire and receive 5 000 a month. She wants to pass this monthly payment to…

A: The provided information is  A=5000 i=8%=0.08 The the formula for perpetuity is  P=AiA=the interest…

Q: A deposit of $1000 is made into an account that earns interest at an annual rate of 5%. If allowed…

A: what would be the resulting total account balance if the interestcompounded monthly?

Q: The managers of a pension fund have invested $1,500,000 in U.S. government certificates of deposit…

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Q: A business must raise $80,000 in 8 years. What should be the size of the owners' quarterly payment…

A:

Q: Find the present value of $41,422 due in 5 years at an interest rate of 3%/year compounded…

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Q: A homeowner planning a kitchen remodeling can afford a $100 monthly payment. How much can the…

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Q: How much must you deposit in an account that pays 8% interest, compounded monthly, to have a balance…

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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: What lump sum do parents need to deposit in an account earning 7% compounded monthly, so that it…

A: For compunded monthly, we have take n value as 12.

Q: What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it…

A:

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 15…

A: Given: N = 15 Years P15 = $6000 r = 5% = 0.05 k = 1 P0 = ? Formula Used: PN = P01+rkNk PN = Balance…

Q: Suppose an annuity will pay $19,000 at the beginning of each year for the next 3 years. How much…

A: Formula of Annuity: PV=P×1-1+r-nr where PV= Present value of an ordinary annuity P= Value of each…

Q: What lump sum do parents need to deposit in an account earning 5%, compounded monthly, so that it…

A:

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

A:

Q: What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it…

A:

Q: What lump sum do parents need to deposit in an account earning 5%, compounded monthly, so that it…

A: The compound interest formula is

Q: Robin, who is self-employed, contributes $6000/year into a Keogh account. How much will he have in…

A: Given, Robin, who is self-employed, contributes $6000/year into a Keogh account

Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

A:

Q: Assume that there are no deposits or withdrawals. An initial deposit of $14,000 earns 8% interest,…

A: here we will find final amount in account after 6years with compound interest,

Q: Find the present value of $60,000 due in 4 years at the given rate of interest. (Round your answer…

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