Find the required annual interest rate to the nearest tenth of a percent for $1300 to grow to $1500 if interest is compounded quarterly for 6 yr. The required annual interest rate is %. (Round to the nearest tenth as needed.)

Q: Find the time required for an investment of 3,000 dollars to grow to 5,000 dollars at an interest…

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Q: An amount of $43,000 is borrowed for 6 years at 6.5% interest, compounded annually. If the loan is…

A: Interest is compounded annually, therefore n=1

Q: Find the time required for an investment of 5000 dollars to grow to 6800 dollars at an interest rate…

A: Let's find.

Q: For an interest rate of 6% p.a. Determine the effective interest rate if it is compounded monthly.

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Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 12%…

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Q: A loan of $29,000 is made at 8.25% interest, compounded annually. After how many years will the…

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Q: A year-end bonus of $25,000 will generate how much money at the beginning of each month for the next…

A: Given that the year-end bonus is $25,000 that can be invested at 6.15% compounded monthly.

Q: An account is compounded monthly for 5 years with an APR of 9%. For the principle amount of $15,000.…

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Q: Find the total amount of interest to the nearest cent if the interest is compounded annually. $2750…

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Q: 37500 dollars is invested at an interest rate of 5 percent per year, find the value of the…

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Q: Find the effective annual yield at an APR of seven 1/2% compounded monthly. (Answer to the nearest…

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Q: An amount of $25,000 is borrowed for 5 years at 4% interest, compounded annually. If the loan is…

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Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: Find the required annual interest rate to the nearest tenth of a percent for $1400 to grow to $1800…

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Q: nd the present value that will grow to $28,000 if interest is 8% compounded quarterly for 16…

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Q: What interest will be earned if $6800 is invested for 7 years at 12% compounded monthly? (Round your…

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Q: How much would you have to invest at 6% yearly interest compounded annually for 35 years to be worth…

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Q: An amount of $43,000 is borrowed for 7 years at 5% interest, compounded annually. If the loan is…

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Q: What interest will be earned if $6100 is invested for 7 years at 13% compounded monthly? (Round your…

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Q: What interest will be earned if $6500 is invested for 8 years at 13% compounded monthly? (Round your…

A: The given principal value P = $6500 The given time t = 8 years = 12*8 = 96 months  Interest rate =…

Q: How much do you need to invest at 3 % interest, compounded quarterly, in order to have $8500 in 10…

A: Given that rate of interest is 3%, the final amount is $8500 and time period is 10 years.

Q: Find the total amount after 10 years for the initial deposit of $30,000 with the interest rate of 5%…

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Q: A loan of $23,000 is made at 5% interest, compounded annually. After how many years will the amount…

A: Proceed as shown below

Q: A $5800 investment is made for a three-year period at an interest rate of 5.4% per year, compounded…

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Q: Find the accumulated amount after 6 years if $1,000 is invested at 10% per year, compounded: (Round…

A: By using formulaes we solve the given problem as follows :

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

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Q: A year-end bonus of $27,000 will generate how much money at the beginning of each month for the next…

A: An annuity is an investment put in a certain amount of money each year or each month. there are two…

Q: An item at a department store is priced at $189.99 and can be bought by making 20 payments of…

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Q: What interest will be earned if $6100 is invested for 2 years at 11% compounded monthly? (Round your…

A: Follow next step

Q: Kayla is going to invest in an account paying an interest rate of 2.9% compounded monthly. How much…

A: We know the compound interest formula:A=P1+rnntwhere A= Total amount         P=Principle amount…

Q: Robin, who is self-employed, contributes $5500/year into a Keogh account. How much will he have in…

A: Present value (PV) = $5000 per year   Time = 20 years   Intrest rate = 5.5% per year

Q: Find the present value. Round to the nearest cent.   To get $5600 after 6 years at 10​% compounded…

A: to find the present value we use the formula  PV=FV1(1+r)n     (1) where PV is the present value  FV…

Q: A loan of $26,000 is made at 8.75% interest, compounded annually. After how many years will the…

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Q: Find the required annual interest rate to the nearest tenth of a percent for $1300 to grow to $1700…

A: Given problem:- Find the required annual interest rate to the nearest tenth of a percent for $1300…

Q: What interest will be earned if $6500 is invested for 2 years at 11% compounded monthly? (Round your…

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Q: For an interest rate of 1% per 2 months, determine the number of times interest would be compounded…

A: Compounding period: The period between the points at which the interest is added to the account.

Q: If 41200 dollars is invested at an interest rate of 10 percent per year, find the value of the…

A: Consider the provided question, Invest 41,200 dollars at an interest rate of 10%. We have find the…

Q: A loan of $42,000 is made at 8.75% interest, compounded annually. After how many years will the…

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Q: What interest will be earned if $6600 is invested for 7 years at 10% compounded monthly? (Round your…

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Q: Aubree invested $4,400 in an account paying an interest rate of 2.4% compounded quarterly. Assuming…

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Q: A year-end bonus of $24,000 will generate how much money at the beginning of each month for the next…

A: The present value of an annuity is given by  Present Value=PMT1−1+i−ni1+i For a year, n = 12. Since…

Q: Find the present value that will grow to S$29,000 if interest is 5% compounded quarterly for 13…

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Q: A year-end bonus of $22,000 will generate how much money at the beginning of each month for the next…

A: The payment that has to be done at the beginning of each period is Annuity. In this problem, the…

Q: Find the required annual interest rate, to the nearest tenth of a percent, for $5200 to grow to…

A: Consider the given information

Q: Find the prosent value of $4000 payable at the end of 2 years, If money may be invested at 9% with…

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Q: Find the time required for an investment of 5000 dollars to grow to 6000 dollars at an interest rate…

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Q: What is the balance in a college fund after 20 years if $5000 was invested at 5% nt compounded…

A: The principle invested is P=$5000. The time period is 20 years. The rate of interest is 5% and it is…

Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 12%…

A: THE COMPOUND INTEREST FORMULA Compound interest can be calculated using the formula…

Q: Find the amount P that needs to be invested at a rate of 5% compounded quarterly for 6 years to give…

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