How long in years will a certain sum of money to triples its amount when deposited at a rate of 3% compounded monthly? 36.67 yrs O 37.67 yrs

Q: . A person lends $2000 for five years at 10% per annum simple interest; then the entire proceeds are…

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Q: What interest will be earned if $6600 is invested for 4 years at 12% compounded monthly? (round to…

A: Given that, $6600  invested for 4 years at 12% compounded   compounded  monthly.    want to…

Q: An initial deposit of $10,000 earns 1.5% interest and is left in the account for 10 years. How much…

A: It is given that, an initial deposit of $10,000 earns 1.5% interest and is left in the account for…

Q: A couple who borrow $60,000 for 15 years at 6%, compounded monthly, must make monthly payments of…

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Q: How much (in dollars) is needed in an account that earns 10.8% compounded monthly to withdraw $1,000…

A: Identify the values of regular withdrawal amount (d), annual rate of interest (r), number of…

Q: If $11,000 is invested at 3% compounded monthly, what is the amount after 5 years? The amount after…

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Q: How much compound interest will Sue earn by investing $20,000 at 4.1% p.a. over a four year period,…

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Q: How much money should you put in a savings account now that earns 3.0% a year compounded weekly if…

A: Given: Final amount= $80,000. time period t= 15 years. Interest applied weekly.(n=52)

Q: How much money should David invest today into a fund that earns interest at 3.50% compounded…

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Q: How long will it take to save $13,000 by making deposits of $100 at the end of every month into an…

A: Given that        F = future value = $13000      PMT = Periodic payment= $100       r = rate of…

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: How much (in dollars) is needed in an account that earns 10.8% compounded monthly to withdraw $1,000…

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Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: P=Principle=?t=time=5 yearsr=interest rate=6%=0.06A=final amount=$5000n=number of times compounded…

Q: Suppose that you invest $14,000 at 3% interest compounded monthly. How much money will be in your…

A: We know that the formula , A = P ( 1 + (r / n )) n • t Here P = principal amount r = interest rate…

Q: How much money should Cody invest today into a fund that earns interest at 4.75% compounded…

A: Here, the effective semi-annual interest rate =1+quarterly rate2-1 where quarterly rate…

Q: How much money will there be in an account at the end of 5 years if $16000 is deposited at 3%…

A: Amount after 5 years will be $ 28897.78

Q: Suppose you deposit $4,000 into a savings account that earns 5.4% APR compounded monthly. The APY is…

A: 13 years will take initial amount to be double.

Q: How much monthly deposits must be made for 8 years and 6 months in order to accumulate P250,000 at…

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Q: A loan for P50,000 is to be paid in 3 years at the amount of P65,000. What is the nominal rate…

A: We use compound interest rates in statistics.

Q: How much money should be deposited today in an account that earns 8% compounded monthly so that it…

A: How much money should be deposited today in an account that earns 8% compounded monthly so that it…

Q: How much (in dollars) is needed in an account that earns 9.6% compounded monthly to withdraw $1,000…

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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: 4. If F = P50,000 with the rate 1.5% compounded quarterly for 5 years find the present value and…

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Q: What amount invested today would yield $57,000.00 in 11 years if it were invested at 5.90%…

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Q: If $450 is deposited in an account paying 8.3% annual interest, compounded semiannually, how long…

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Q: How much will Blo00 deposited in an account earning 7% Onnually be worth. interest Compounded In 20…

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Q: A principal of $2000 is placed in a savings account at 3% per annum compounded annually. How much is…

A: A principal of $2000 is placed in a savings account at 3% per annum compounded annually.

Q: I have $4000 in an account earning 7% compounded monthly how much will be in the account in 15 years

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Q: Find the amount that should be deposited today at 4% compounded monthly to receive $ 8,000 in 6…

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Q: How much money will there be in an account at the end of 8 years if $8000 is deposited at 5%…

A: This question is related to compound interest, We will solve it using given information.

Q: How much should a mother invest at the time her daughter is born in order to provide her with…

A: A mother invest at the time her daughter is born in order to provide her with$95,000 at age 18. The…

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: To solve the following problem when compounded anually.

Q: Complete the table for a savings account in which interest is compounded continuously. (Round your…

A: Given that P = $250, A = $335.21, t = 14 yrs.

Q: How much should be paid monthly into an account paying 6% interest compounded monthly so that the…

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Q: How much money should Nicholas invest today into a fund that earns interest at 4.75% compounded…

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Q: What will the final amount be in 1 1/2 year if P8,000 is invested at 9.2% compounded monthly.?

A: Given that : Principle = $8000 Rate = 9.2 % per year = 9.2% / 12 per month Time = 1 (1/2) year = 18…

Q: ie of $51,679 due in 4 years at an interest rate of 7%/year compounded continuously. (Round your…

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Q: How much money should Bryan invest today into a fund that earns interest at 5.75% compounded…

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Q: Suppose that you invest $3,000 at 5% interest compounded monthly. How much money will be in your…

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Q: 5. How long will it take an account paying 6% annual interest to double if it is compounded monthly?

A: Compound interest is the summation of the interests to the principal amount which has been deposited…

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: How much money should Lisa invest today into a fund that earns interest at 4.25% compounded…

A: This question can be solved using present value of ordinary annuity

Q: A couple who borrow $80,000 for 15 years at 6%, compounded monthly, must make monthly payments of…

A: Solution:- Monthly payment=$675.09 rate r=6% compounded annually ⇒R=612%=612×100=0.005   (compounded…

Q: How much money should be deposited today in an account that earns 7% compounded semiannually so that…

A: Let $x should be deposited today that earns 7y.Compound semi annually. So that it will accumulate…

Q: How much money will there be in an account at the end of 7 years if $2000 is deposited at 4%…

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Q: Complete the table for a savings account in which interest is compounded continuously. ( Initial…

A: given initial investmentP=$ 600 amount after 10 years A=$ 1234.25 t=10 years claim- find the annual…

Q: About how many years will P 100,000 earn a compound interest of P50,000 if the interest rate is 9%…

A: Here P=50,000 F V=100,000 r=9%=0.09 n=4

Q: 31. What rate of interest compounded annually is required to double an investment in 3 years? How

A: Suppose A be the amount, P be the principal, r be the rate of interest and t be the time for n times…

Q: Find the amount that results from the given investment. $500 invested at 4% compounded quarterly…

A: Formula used:Future value formula