How long did it take for an investment of $22,500 to grow to $28,000 at 2.64% compounded semi-annually? years and months Express the answer in years and months, rounded to two decimal places

Q: A newborn child receives a $15,000 gift toward a college education from her grandparents. How much…

A: The gift amount receieved, P=$15000

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

A:

Q: Julia invested $48,000 in an account paying an interest rate of 7 1/8 % compounded daily. Cameron…

A: for continuous compound, tripling time is given by t=ln3r here we have r=7.75%=0.0775 (for Cameron)…

Q: How much will have to be invested at the beginning of each year at 6%, compounded annually, to pay…

A: If P is the principal amount invested compounded annually at a rate r for time t years then the…

Q: Solve the following word problems  Compound Interest Obtain the accumulated value of 100,000 after…

A:

Q: How much should she set aside now

A:

Q: How long will it take for an investment to at least double its original amount if it is growing at…

A: Given:   Grow rate = 5.76%   Compounded semi annually ( n ) = 2

Q: How many years are required for your money to triple if it is invested at 9% compounded? a. annually…

A:

Q: Melanie invested $9,800 in an account paying an interest rate of 4 1/2​% compounded quarterly.…

A: Follow the procedure given below.

Q: How much money would you have to invest at 10% compounded semiannually so that the total investment…

A:

Q: How much do you need to invest at the beginning of each of the next 60 months in order to have a…

A: Since the given amount of $100,000 is deposited at beginning of each month, it is annuity due.Then…

Q: How long will it take an investment of $4000 to double if the investment earns interest at the rate…

A: We will find how long will it take an investment to double as following.

Q: How much money should be deposited today in an account that earns 6% compounded monthly so that it…

A: If an amount P is deposited today in an account that earns interest rate r per compounding period,…

Q: How much must be invested at the beginning of each year at 11%, compounded annually, to pay off a…

A: Given: The future value is $60,000. The time duration is 8 years. The interest rate is 11%…

Q: Find the effective rate of interest corresponding to a nominal rate of 10.5%/year compounded in the…

A:

Q: How long will it take for your investment to grow 25% if the annual percentage rate is 3.5%…

A: Introduction :We have asked for the time period will it take to grow a amount to its 25% , where the…

Q: What present value P amounts to $280,000 if it is invested at 7%, compounded semiannually, for 16…

A:

Q: How much money would be in an account after 5 years that pays 3% interest, compounded quarterly (4…

A:

Q: How much money should be invested every quarter at 8% per year, compounded quarterly, in order to…

A: The solution for the above question is as shown below.

Q: Jackson invested $4,200 in an account paying an interest rate of 9 1/2 % compounded continuously.…

A: Jackson invested $4,200 in an account paying an interest rate of 9 1/2 % compounded continuously.…

Q: Find the time required for an investment of 7,000 dollars to grow to 14,000 dollars at an interest…

A: Given: Principal = $7000 Amount = $14000 Interest = 8% compounded monthly Formula used: A=P1+rnnt…

Q: If you want to accumulate $ 28,000 in 5 years to purchase a car, how much you need to invest today…

A:

Q: Find the interest rate needed for an investment of $10,000 to grow to an amount of $13,000 in 6…

A: I have appended the formula used in the solution part of the question

Q: How much more would you earn in the first investment than in the second investment? $52,000 invested…

A: topic -  compound interest

Q: An investment fund pays 10% per year, compounded quarterly, on all money invested. How much must be…

A:

Q: Find the interest rate needed for an investment of $9,000 to grow to an amount of $9,900 in 3 months…

A: Step 1Amount = $9900, Principle = $9000n = Compounded monthly = 12 months in a yeart = 3 months =…

Q: How long would it take for an investment to at least double its original amount at 3.62% compounded…

A: NOTE: Refresh your page if you can't see any equations. . here we have  r=3.62%=0.0362 n=12 for a…

Q: Use the compound interest formula to determine how long it will take for a sum of money to double if…

A: Formula for compound interest:

Q: Find the interest rate needed for an investment of $10,000 to grow to an amount of $11,000 in 4…

A:

Q: How much will an investment of $5,000 be worth in 8 years if it earns 2.2% in annual interest…

A:

Q: An investment fund pays 9% per year, compounded quarterly, on all money invested. How much must be…

A:

Q: How much must be invested at the beginning of each year at 11%, compounded annually, to pay off a…

A: r = 11% = 0.11 Compounded annually, i.e. n = 1 t = 5 To pay of debt, i.e. A = $30000

Q: How much must be invested at the beginning of each year at 10%, compounded annually, to pay off a…

A:

Q: Approximately how long will it take for $8000 two double at an annual interest rate of 6.25%…

A:

Q: Joshua invested $99,000 in an account paying an interest rate of 4÷% compounded continuously.…

A:

Q: What present value amounts to $20,000 if it is invested for 15 years at 6% compounded…

A: Compound interest: Formula :  A=P1+rnnt where ; A is the amount . P is the principal or invested…

Q: What present value P amounts to $260,000 if it is invested at 7%, compounded semiannually, for 18…

A: Given that present value P amounts to $260,000 if it is invested at 7%, compounded semiannually, for…

Q: What present value amounts to $20,000 if it is invested for 15 years at 7% compounded annually?…

A:

Q: At what rate compounded monthly should be P25,000 be deposited in a bank to gain an interest of…

A:

Q: What present value P amounts to $270,000 if it is invested at 8%, compounded semiannually, for 12…

A: Determine the present value of an investment that amounts to $270,000 in 12 years if compounded…

Q: What annual rate of interest compounded annually should you seek if you want to triple your…

A:

Q: What present value P amounts to $300,000 if it is invested at 8%, compounded semiannually, for 18…

A:

Q: How long will it take for an investment to at least double its original amount if it is growing at…

A:

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

A:

Q: b. Suppose you as a businessman leave an initial amount of $600 in a savings account at an annual…

A:

Q: A company needs $4,300,000 in 14 years in order to expand their factory. How much should the company…

A: Future value of investment, FV=$4,300,000 Interest rate per week, r=9.1%52=0.09152=0.00175 No. of…

Q: How much money should be invested monthly at 7% per year, compounded monthly, in order to have…

A: Solution:Given    FV=$9000, r=0.07  n=12 t=12 months=1 yearTo find :P=?Formula:FV=P 1+rnnt

Q: To yield $10000 in three years in an investment that pays interest at a rate of 5.4% per year,…

A: Solve for principal amount

Q: How much must be invested at the beginning of each year at 9%, compounded annually, to pay off a…

A: