how long will it take for an account with a principal of $5000 to earn $187.50 of simple interest at a simple interest rate of 5%

Q: Camilla has $18,220 in a savings account. The interest rate is 5% per year and is not compounded. To…

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Q: A loan of $29,000 is made at 8.25% interest, compounded annually. After how many years will the…

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Q: An account is compounded monthly for 5 years with an APR of 9%. For the principle amount of $15,000.…

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

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Q: You pay off a debt of $750 by paying 19% of the remaining balance each month. How many months will…

A: Given that , Initial debt D0=$750 r=19% when Dt=450 then t=?

Q: At a 5 % annual interest rate, a principal of $2,000 earns $ 400. How long was the principal…

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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: A deposit of $659 earns $15.10 interest at a rate of 4.5%. For how many days was this money on…

A: Solution

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

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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: Suppose you pay back $355 on a $325 loan and you had the loan for 60 days. What was your simple…

A: We have to use simple interest formula.

Q: Curtis invested $4200 into an account that pays 1% interest compounded annually. How much money…

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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: Mika's parents want to have enough saved to give her $15 000 a year - for 4 years of college. They…

A: Mika's parents want to give $15000 per year for 4 years of college. Therefore they want to give…

Q: How many months will it take an amount of $6,000 to earn $120.00 simple interest at an annual rate…

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Q: How long will it take to pay off a student loan of $20,000 if the interest paid on the principal is…

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Q: Jodie deposited $10,000 into an account paying 6.5% interest, compounded quarterly.  She needs to…

A: Let's say it will take t years to make the down payment

Q: How much should you put in an investment paying a simple interest rate of​ 5% if you needed​ $4000…

A: Consider the provided question, Given, rate of interest = 5% time = 18 months = 1812 years Future…

Q: (a) How much will be in your account after 5 years? (b) How much interest will be earned after 5…

A: Principle, P = $2000 Interest rate, r = 3% = 0.03 Use the continuous compound interest formula,…

Q: A loan of $23,000 is made at 8% interest, compounded annually. After how many years will the amount…

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Q: If you make $400 in simple interest on an investment at 8% for 5 years, what is the amount of the…

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Q: For her 1st birthday, Ruth's grandparents invested $1200 in an 18-year certificate for her that pays…

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Q: Warren has $40 in a savings account that earns 10% interest, compounded annually. To the nearest…

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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: Fred has $60,000 in a savings account. The interest rate is 15% p year and is not compounded. How…

A: Given, P=$60000 Interest rate, r=15% time, t=812year

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: Rob has 100,000. Invested into a fund that adds 5% per year.  How much will he have in 20 years…

A: Given: Initial amount=100,000 Increasing amount=5% of ininitial amount Time = 20 years

Q: A payment of $1500 is due in three months. Find the equivalent value at nine months if the interest…

A: Given interest rate is 4% compounded quarterly. F.V=P.V(1+r/k)nk Here, F.V= Future value P.V=Present…

Q: mr. Gordon plans to invest $300 at the end of each month in an account that pays 12%, compounded…

A: We use annuity formula.

Q: Given the principal of $5000 and an investment that pays 8% interest, compounded monthly. How much…

A: Consider the given information.   The principal amount is $5000 at the rate of 8% and invested for 7…

Q: What amount of money will accumulate to $83,000 in 1 year and 3 months at the interest rate of 2.12%…

A: Given Principal (P) =83000 Rate of interest (R) =2.12% Time (T) =1 year 3 months

Q: A principal of $1600 is invested at 5% interest, compounded annually. How much will the investment…

A: Use the compound interest formula, A=P1+rm Where 'r' is the annual rate of interest, m is the time…

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: Preston has $8,000 in a savings account. The interest rate is 4%, compounded annually. To the…

A: We have to find compound interest.

Q: A loan of $42,000 is made at 8.75% interest, compounded annually. After how many years will the…

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Q: How many days did it take Romy to place 120,000 in an investment house that pays 8% simple interest…

A: If p= principal amount R= rate of interest t= time And I is the interest after time t at a r% rate…

Q: Jamal wants to save $46,000 for a down payment on a home. How much will he need to invest in an…

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Q: You invest $4000 in an account with an APR of 3% and daily compounding. How much will you have after…

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Q: For a sum of P8000.00 to double itself in 12 years and 9 months, what must be the rate of interest…

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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: How long it would take to double an invesment if the rate of interest is 10% compounded quarterly?

A: Follow the procedure given below.

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: Farid placed RM5,000 in a bank account for six years. The bank offered an interest rate of 6%…

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Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 12%…

A: THE COMPOUND INTEREST FORMULA Compound interest can be calculated using the formula…

Q: The APR of Bessie's savings account is 6%, and interest is compounded monthly. If the principal in…

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Q: How much is $250 to be received in exactly one year worth to you today if the interest rate is 20%?…

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Q: How much should you invest now at 3 3/4% simple annual interest in order to earn $190 interest in 5…

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Q: A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1200 in 10…

A: The formula for Simple Interest is given by S.I=PRT100 where P is the principle, R is the rate and T…

Q: You can afford monthly deposits of $260 into an account that pays 3.6% compounded monthly. How long…

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