Find the time required, to the nearest 0.1 year, for the investment to reach the desired goal. $6,000 invested at 8%, compounded monthly; goal: $8,000 years

Q: A company needs $7,000,000 in 10 years in order to expand their factory. How much should the company…

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Q: You deposit $5000 each year into an account earning 7% annual interest compounded annually. How much…

A: Use formula to calculate

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: Find the nominal rate of interest that, when compounded monthly, yields an effective interest rate…

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Q: Find the amount due at the end of 8 years and 6 months if P4, 000 is invested at 7% compounded…

A: Principal amount:  $ 4000 Interest Rate:  r = 7% Time Period:  t = 8 year 6 months

Q: You invested $9,000 at the end of each quarter for 8 years in an investment fund. If the balance in…

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Q: Find the amount of an investment of $25,000 earning 6% interest for 3 years compounding quarterly

A: Given that $25,000 is invested earning 6% interest for 3 years compounding quarterly. It is required…

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

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Q: Find the time required for an investment of 4,000 dollars to grow to 10,000 dollars at an interest…

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Q: A $5000 investment is made in a savings account that pays 10%/a compounded quarterly. How long will…

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

A: Given; Principal,P=$5200 Time,t=11 years Rate,r=4.6% compounded daily.

Q: Rochelle invested $100 at the end of every month into an RRSP for 11 years. If the RRSP was growing…

A: Given information Initial principal balance P=$100 Rate of interest r=4.60% ⇒r=4.60100=0.046 Period…

Q: Inez wants to have $19,750 in 4 years. Use the present value formula to calculate how much Inez…

A: The future value is $19,750 and the time period is 4 years. The rate if interest is 7% and is…

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: $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: $10,000 is invested for 10 years with an APR of 2% and quarterly compounding.

A: Given information P=$10,000 Rate of interest r=2%  ⇒r=2100=0.02 Time t=10 years For quarterly…

Q: Find the time required for an investment of 5000 dollars to grow to 8200 dollars at an interest rate…

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Q: If 28100 dollars is invested at an interest rate of 10 percent per year, find the value of the…

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Q: Find the time required for an investment of 5000 dollars to grow to 6600 dollars at an interest rate…

A: An investment of 5000 dollars to grow 6600 dollars at an interest rate of 7.5 percent per…

Q: n how many years will the amount of P10,000 triple if invested at an interest rate of 10% compounded…

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Q: An investment of $5,650 is made in an account compounded quarterly at 5.1%. How much will the…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for…

A: Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for…

Q: Find the amount we would need to deposit today as a lump sum to achieve $420,000 in 30 years at 6%…

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

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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: Evan is going to invest in an account paying an interest rate of 5.4% compounded annually. How much…

A: Final amount = Principal amount + InterestFinal amount = P+P(1+rn)ntn=1 (compounded annually)Final…

Q: Find the time required for an investment of 5000 dollars to grow to 7800 dollars at an interest rate…

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Q: If 22600 dollars is invested at an interest rate of 7 percent per year, find the value of the…

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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: Find the annual percentage  yield for an investment that earns 5 1/ 2% per year, compounded…

A: Given data: The amount is given by "A" The rate of interest per year is given by…

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 10…

A: The future value of the deposit is $6000. The period is 10 years and the monthly compounded interest…

Q: Find the time required for an investment of 5000 dollars to grow to 7300 dollars at an interest rate…

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Q: Find the time required for an investment of 5000 dollars to grow to 7600 dollars at an interest rate…

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Q: A principal of $12,000 is invested in an account paying an annual interest rate of 7%. Find the…

A: Compounded quarterly , n=4

Q: If 10700 dollars is invested at an interest rate of 5 percent per year, find the value of the…

A: Since you have posted multiple questions, as per our policy we will answer first question. Please re…

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: Find the time required for an investment of 5000 dollars to grow to 9000 dollars at an interest rate…

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Q: If 32100 dollars is invested at an interest rate of 5 percent per year, find the value of the…

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Q: For an interest rate of 9% per year, compounded monthly, the effective monthly rate is closest to:

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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: Use the formula A = P(1+ )" to find the total amount of money accumulated for an initial investment…

A: Given  Investment P = $600 Interest rate r = 8% compounded semiannually Times t = 9 years To find…

Q: If 38900 dollars is invested at an interest rate of 5 percent per year, find the value of the…

A: Topic:- Algebra

Q: If 32800 dollars is invested at an interest rate of 8 percent per year, find the value of the…

A: A=P1+rnntwhere P = principal amount (the initial amount you borrow or deposit )r = annual rate of…

Q: If 48000 dollars is invested at an interest rate of 9 percent per year, find the value of the…

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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 amount that results from each investment. $500 invested at 8% compounded quarterly after a…

A: Given, P=$500, r=8%, t=212 years, n=4 The amount is given by 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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