Frank Steed wants to open a camera shop. How much must he deposit now at 6% interest compounded monthly to have $25,000 at the end of 3 years?

Q: Tom wants to have $6,000 in three years. At 4.75% interest compounded monthly, how much does he need…

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Q: If you deposit $4500 at 5% annual interest compounded quarterly, how much m oney will be in the…

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Q: Tony Ring wants to attend Northeast College. If he deposits $34,507 today, how much will he have 4…

A: Given Principal amount = $34,507 Interest rate = 12% compounded semiannually Time = 4 years

Q: Regina wants to have$280,000 in 20 years to buy a vacation home. To reach this amount, how much…

A: Consider the given information. The total amount after 20 years is $280,000. The total number of…

Q: Parents wish to have $80,000 available for a child's education. If the child is now 5 years old, how…

A: The formula for the compound interest is given by, A=P1+rnnt where, A is the final amount, P is the…

Q: You decides to buy a car by making a deposit of 20% and R2500 every month for 3 years. If the…

A: periodic monthly car payment =R2500 calculating the loan amount of car using the PV of annuity…

Q: Jasica Parker would like to have $75,000 to buy a new car in 6 years. To accumulate $75,000 in 6…

A: Solution :-

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: Steve decided to deposit $4,680 into a savings account with 6.5% interest, compounded quarterly.…

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Q: Loma Evenson would like to buy a $19,000 car in 4 years. Loma wants to put the money aside now .…

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Q: John and Rosamond Want to retire in six years and can save $190 every three months. They plan to…

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Q: Levi invested $5,300 in an account paying an interest rate of 2.4% compounded daily. Assuming no…

A: topic - exponents

Q: Rosa Burnett needs $7,000 in three years to make the down payment on a new car. How much must she…

A: Given information Future value=$7,000 Rate of interest r=0.5% compounded annually ⇒r=0.5100=0.005…

Q: Beck would like to be a millionaire in 35 years. How much would she need to invest quarterly in a…

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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: How much will you need to invest today in an account paying 7% compounding quarterly to have $10,000…

A:

Q: Alain Dupre wants to set up a scholarship fund for his school. The annual scholarship payment is to…

A: Given Amount=$2300 Rate of interest=3.3%

Q: How much should Alexandra's dad invest into a savings account today, to be able to pay for…

A:

Q: Tony Ring wants to attend Northeast College. If he deposits $59,528 today, how much will he have 5…

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Q: Evaristo would like to invest N$ 12,500.00 a month at the beginning of each month at an interest…

A: To find the C.I.

Q: Christian is saving money and plans on making monthly contributions into an account earning an…

A: Given data is: Future value of amount after n period A=$9000 Interest rate i=5.7% Period n =32…

Q: Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If…

A: The amount he invested for new car is:  P = $18,000 Interest rate:  r = 4.9% Interest is compounded…

Q: If you were to invest $800 at 8% interest compounded annually or each year, what would be your…

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Q: Parents wish to have $80,000 available for a child’s education. If the child is now 5 years old, how…

A:

Q: Jasica Parker would like to have $95,000 to buy a new car in 6 years. To accumulate $95,000 in 6…

A: Given data: Amount Jessica would like to have=$95,000 Number of years =6 Annual rate of interest of…

Q: Liz wants to accumulate at least $40,000 by depositing $900 at the end of each month into a fund…

A: As the interest rate is compounded monthly:   Part (a):   Future value for the annuity is computed…

Q: paying 15.5%

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Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

Q: Steve decided to deposit $3,285 into a savings account with 4.5% interest, compounded quarterly.…

A: Here we have to find how much money Steve have after 4 years in his account. The details calculation…

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: John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How…

A: Initial deposite= P= 2000 Final amount=A=? Time=t= 4 years  Interest rate = 5.8%=0.058  Number of…

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

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Q: How much did Speedy Movers borrow for a debt that accumulated to $56,036.80 in five years? The…

A: We need to find the amount that Speedy Movers borrow for a debt that accumulated to $ 56036.80 in…

Q: Nathan invested $3,500 in an account paying an interest rate of 3.5% compounded quarterly. Assuming…

A: Initial amount=P= 3500  Final amount=A=? Time= t=19 years  Interest rate=r= 3.5%= 0.035  Number of…

Q: What monthly payments should Angela pay to save $93,000 in 19 years if money can earn 4.8%…

A:

Q: At the birth of their child, how much should a couple invest to have $20,000 on the child's 18-th…

A: The principal investment required to get a total amount of $20,000.00 from compound interest at a…

Q: Riley invested $5,100 in an account paying an interest rate of 7-% compounded quarterly. Ryan…

A: Use the formula A=P1+rnnt. Where P is the principle amount, r is the rate of interest, n is number…

Q: Erin has $250,000 saved for retirement in an account earning 3.4% interest, compounded quarterly.…

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Q: John buys a stereo system for $640. He agrees to pay $32 a month for 2 years. Assuming that interest…

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Q: If you invested $300 now at 6.5% interest compounded monthly, how much money do you have available…

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Q: Erin would like to buy a $350,000 apartment when she retires in 10 years. How much should she…

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Q: Suppose you deposit $4000 in a CD paying 5% interest, compounded monthly. How much will you have in…

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Q: Dawson is saving for a down payment to buy a house. The account earns 2.5% interest compounded…

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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: I want to have $20,000 to buy a car in five years. How much would I have to invest now in a savings…

A: We will use the Compound Interest formula to find the amount you need to invest every year to get…

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

A: Here we will use the recurring deposit formula for calculating the compound interest. Sum of the…

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest…

A: We will find out the required values.

Q: Jasica Parker would like to have $26,000 to buy a new car in 7 years. To accumulate $26,000 in 7…

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Q: As a new engineer, you wanted to earn and availed an investment insurance. Every month you are going…

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Q: How much did Speedy Movers borrow for a debt that accumulated to $58,040.76 in five years? The…

A: To find out the borrowed amount.