Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If he invests the money at an interest rate of 4.9% per year, compounded quarterly for this period of time, how much will he have for the purchase?

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: A man needed P250, 000 at the end of 3 years, how much money must he deposit quarterly in an…

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Q: Audrey is going to invest in an accour paying an interest rate of 5.7% compounded daily. How much…

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Q: Gertrude wants to make $500 monthly withdrawals for 10 years from an account which pays 4%…

A: Given Information: Gertrude wants to make $500 monthly withdrawals for 10 years from an account…

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: 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: Isaiah is going to invest $94,000 and leave it in an account for 16 years.Assuming the interest is…

A: Isaiah is going to invest $94,000 and leave it in an account for 16 years. The interest is…

Q: If Landon invests $3,000 in a 6-year certificate of deposit at the annual rate of 7.75%, compounded…

A: Let A be the amount of future value of investment,then A can be calculated as follows

Q: Edmond has $6,915 in a savings account that earns 8% interest, compounded annually. To the nearest…

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Q: If you have $30,000 in a bank account that is paying an interest rate of 4 percent that is being…

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Q: Olivia was receiving rental payments of $2,000 at the beginning of every month from the tenants of…

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Q: Austin invested $200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no…

A: Austin invested $200 in an account paying an interest rate of 6.1% compounded quartely.

Q: Amelia is going to invest in an account paying an interest rate of 2.3% compounded quarterly. How…

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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: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

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Q: If compounded monthly, a loan will be amounting to P132, 400.00 if invested at 11.5% interest for…

A: The solution to the given question is explained below.

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: Paisley is going to invest $28,000 and leave it in an account for 14 years. Assuming the interest is…

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Q: Mason is going to invest in an account paying an interest rate of 5.3% compounded quarterly. How…

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Q: If you borrowed $200,000 to buy a house at 6% interest per year, compounded monthlyand paid back the…

A: Time =t= 30 years Compounded monthly , so n=number of times compounded in a year= 12interest rate =…

Q: A newborn child receives a $20,000 gift toward a college education from her grandparents. How much…

A: Given that  A baby recives 20000 Interest rate is 7% for 17 years  To find the amount will receive…

Q: If you finance $15,000 for 3 years at 6% compounded monthly, the monthly payments will be…

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Q: Anthony is going to invest in an account paying an interest rate of 4.6% compounded monthly. How…

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Q: Peyton is going to invest $310 and leave it in an account for 16 years. Assuming the interest is…

A: Principal amount:  P = $ 310 Total time period is: t = 16 years Interest is compounded quarterly.…

Q: Jessica would like to have $36,000 to buy a new car in 9 years. To accumulate 36,000 in 9 years, how…

A: We have to find that how much would Jessica need to invest monthly in a sinking fund with 6%…

Q: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

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Q: If you invest $10,400 at an interest rate of 2.5% compounded monthly, when will your investment be…

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Q: 3. Francisco invest $10,500 at a annual rate of 6% compounded monthly per year. How much money will…

A: Given, P=$10,500 r=6% t=8 years Compounded monthly

Q: Juan Dela Cruz wants to deposit P5, 000 every quarter at 16% compounded quarterly for 5 years. How…

A: Compound Interest: A=P(1+rn)nt P: the principal, amount of deposit  A: the new balance  t: the time…

Q: Bo won $10,000 on a scratch-off lottery ticket. In five years, he wants to buy a new bass boat that…

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Q: David deposited P2,500 for 2 years at 10% compounded annually and earned a compound interest of…

A: Given that the principle amount=2500And compound interest=525So the future value= 2500+525=3025

Q: If Gabriel wants to accumulate $ 20,000 in 6 years to buy a car, how much would he need to invest…

A: The compound interest formula is A = P1 + rnnt In the formula, A = Accrued amount (principal +…

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: 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: A man buys a motor vehicle for $50,000.  if the interest rate on the loan is 12% compounded monthly…

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Q: Ariana is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much…

A: r=3.7%  A=$25000 t=14 years  n=12 (compounded monthly)

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: Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2…

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Q: Suppose you want to borrow $20,000 for a new car. You can borrow at 6% per year, compounded every…

A: P = monthly payment PV = loan amount r = rate of interest n = number of periods

Q: Shawn invested $130 at the end of every month into an RRSP for 13 years. If the RRSP was growing at…

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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: John wants to have $40,000 in cash four years from now in order to pay for part of his mortgage on…

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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: Find how much Sally would have to invest now at 6.25% compounded quarterly in order to have $15,000…

A: This question is based on compound interest.

Q: How much should Shane have in a savings account that is earning 2.50% compounded monthly, if she…

A: Given information Regular withdraw d=$1,900 Interest rate r=2.50% ⇒r=2.50100=0.025 Number of…

Q: As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more…

A: Formula used to solve the given problem is given below: An=P×1-1+r-nr Where; P= periodic payment…

Q: What is the purchase price on a car that has a $350 monthly payment for five years, financed at 6%…

A: Given query is to find the purchase price of the car.

Q: John makes annual deposits of $1600 to an an IRA earning 7% compounded annually for 16 years. What…

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