How long will an amount of money double at a simple interest rate for 2% per annum? years

Q: Melanie invests $13,000 at 13% simple interest for 1 year. How much is in the account at the end of…

A: Substitute 13000 for P, 13% for r and 1 year for t in the simple interest formula I=Prt and…

Q: How much interest will you earn if you invest $5400 for 3 years at a simple interest rate of 4%…

A: We can solve this using simple interest formula S.I.= (P*R*T)/100

Q: How much would you need to deposit in an account now in order to have $4000 in the account in 5…

A: to find:- amount to be deposited.

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: A principal earns interest of ₱ 196.00 in 3 years and 6 months at a simple interest rate of  6 1/2%.…

A: We have to find invested principal where interest is given $196.00 in 3 years and 6 months at a…

Q: How much interest will you earn if you invest $5100 for 4 years at a simple interest rate of 6%…

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Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

A:

Q: You want to have a $40,000 college fund in 6 years. How much will you have to deposit now in an…

A: To calculate the present value (amount to be invested) for the given conditions to be satisfied

Q: 2. At an interest rate of 2% per month, the money will double in value in how many months?

A: The compound interest formula for an amount P compounded per month at a rate of r% for n months is…

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 10…

A: How much would you need to deposit in an account now in order to have $5000 in the account in 10…

Q: how much will a invesment of $500 be worth after 7 years if it earned a yearly rate of 7.2%…

A:

Q: At age 35 you start saving for retirement. If your investment plan pays an APR of 6% and you want to…

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Q: If you want to earn 9% annual simple interest on an investment, how much should you pay for a note…

A: Given that  worth $28,700.00 in 5 months. 9% annual simple interest on an investment,

Q: f you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: In this question, the concept of compounded interest is applied. Compounded Interest  Compound…

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 10…

A: Given,         A=3000 , t=10 years, r= 2% and compounded monthly

Q: the per age. (R your earest cel $800,000 borrowed at 7% for 2 years, with quarterly payments

A: Use formula of periodic payment

Q: Suppose you want to accumulate $100,000 for a down payment on a house in 6 years. You make a single…

A: Solution is given below:

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

A:

Q: You have $2000 in a savings account that pays an annual interest rate of 3.25%. How long will it…

A: Given,  Principal = p = $ 2000 Interest rate = r = 3.25 %  annually Amount = A = 2×2000 = $ 4000 We…

Q: A loan of $23,000 is made at 5% interest, compounded annually. After how many years will the amount…

A: Proceed as shown below

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: You want to have a $ 93,477 college fund in 10 years.  How much will you have to deposit now in an…

A: Given Data: The expected accumulated balance after 10 years is: A=93477 $ The interest rate is:…

Q: How much interest will be charged on ₱7,300 borrowed for three (3) years at a simple interest rate…

A: To find Interest charged charged on 7,300 borrowed for three (3) years at a simple interest rate of…

Q: Ms. Roberts decided to invest some money in an insurance company with an interest rate of 9%…

A: Given that interest rate is 9%. The formula for calculating compound interest is given by, A= P(1+…

Q: How much money would you need to deposit today at 5% annual interest compounded monthly to have…

A: Reviewing information, Given r=Annual interest rate=5% A=Amount in the account=$20,000  t=duration=9…

Q: How long in years will a certain sum of money to triples its amount when deposited at a rate of 3%…

A: The amount is given by A=P1+int  where t is time in years  i is the rate of interest 3P=P1+0.031212t…

Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How many years will it…

A: Formula: Simple interest                    SI=PTR100            Where SI- Simple interest…

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: How much would you need to deposit in an account now in order to have $2000 in the account in 5…

A: Let A(t)= amount in t years.P= Prinicipal(Original investment)r=Annual interest rate(in decimal…

Q: How much money can you afford for a loan if you know you are going to pay $80 each month for 19…

A: The formula to calculate the equal monthly installments (EMI) that is the equal monthly installment…

Q: A student takes out a college loan of $4000 at an annual percentage rate of 6%, compounded monthly.…

A:

Q: You plan to save money for a down payment of $38,0 can only afford to save $6,000 at the end of…

A: Topic:- compund interest

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

A:

Q: How much should a business save at the end of every quater if they need $100,000 in 5 years to pay…

A:

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: You want to receive ​$350 at the end of each year for 5 years. Interest is 10.7% compounded…

A: We can solve both of them using the concept of present worth as below.

Q: How much would you need to deposit in an account now in order to have $4000 in the account in 10…

A:

Q: Sarah borrowed money from the bank at an annual interest rate of compounded semi-annually for 5…

A: Since you have asked multiple question, we will solve the first question for you as per our guide…

Q: 4. How long will 1 million pesos earn a simple interest of 200.000 at 2% per annum?

A: Since you have asked multiple questions, we will solve the fourth question for you simple interest…

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: Karen has $1000 from investing in an account that pays 3.2% interest compounded quarterly at the end…

A: We will use formula for compound interest.

Q: Parents wish to have $150,000 available for a child's education. If the child is now 3 years old,…

A: Total years when child is of 18 =18-3 =15 yearrate =7% compounded semi annuallyLet they set  aside…

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 5…

A: It is given that the interest is compounded monthly. The formula for compound interest is A=P1+rnnt…

Q: deposits

A: The deposit amount is $3,500 , the earning interest is 6.5%=0.065 compounded quarterly.

Q: How long will an amount of money double at a simple interest rate for 10% per annum? years

A: How long will an amount of money double at a simple interest rate for 10% per annum?

Q: МАЗВ A student borrows money to buy furniture for a new apartment. The student will pay back $125.42…

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Q: 5. How long will an amount of P50,000 gain a simple interest of P10,000 at 4% per annum?

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Q: If you want to earn 15% annual simple interest on an investment, how much should you pay for a note…

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