Find the amount of money (Future Value) in an account where $4,400 is deposited (Present Value) at an interest rate of 3.5% per year compounded daily (365 times per year) and the money is left in the account for 11 years. The final amount is $ Round your answer to 2 decimal places

Q: You deposit $3,000 into a savings plan at the end of each year for three years. The interest rate is…

A: We have deposit amount is P=$3,000 Rate of interest = 5% = 0.05 Time = 3 years. Now, the value of…

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A: Amount after 't' years A = P1 + rnnt

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A: Given:  P=$50 , R=5% =0.05 N=12 , T=65-29=36 a we will use the  formula: A=P 1+rnnt-1rn

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A: INTRODUCTION: The formula for compound interest is given by, A=P1+rnnt Where P is the principal…

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A: The final amount can be calculated using the compound interest formula given as:       Compound…

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A: Let's find final amount = ?

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A: Given: P = 1500 r = 3% = 3/100 = 0.03 t = 5  Compounded weekly , which means n = 52  Now, We find…

Q: Find the amount of money (Future Value) in an account where $1,300 is deposited (Present Value) at…

A: To find the future value of the investment.

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A: We have to find the final amount.

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A:

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A: Initial amount= P= 8000 Time= t= 5 years  Interest rate=r= 2.5%= 0.025  Number of times compounded…

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A: Formula used:- The formula for the present value of a annuity is given by A=P1−1+i−ni1+i−k...….(1)…

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A: NOTE: Refresh your page if you can't see any equations. . here we have P=16000 t=8 years r=4%=0.04…

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A: Answer:-  Amount to be achieved =$5000 Time=3years Simple interest=4.5%=4.5/100=0.045

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A: I am attaching image so that you understand each and every step.

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A: Present value: The present value formula is given by PV=FV1+rn where FV is the future value, r is…

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A: The future value is FV=$8000. The rate of interest is r=2.5%=0.025 and the time period is t=3 years.

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A: Given that the amount to be achieved (A)= $ 6000   Time (t) = 3 years   Simple interest (r) = 4.5 %…

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