how much would someone need to deposit each year into the account in order to have $60,000 saved up for when a girl goes to college in 17 years and the account earns 8% return

Q: If you want to earn 4% annual simple interest on an investment, how much should you pay for a note…

A:

Q: 1-year after a car is sold an owner finds it is worth 60% of the original price. If it is now worth…

A: 1-year after a car is sold an owner finds it is worth 60% of the original price. If it is now worth…

Q: A certain gulf club spent 4/11 of their yearly budget on a banquet party they threw. If they still…

A: We will find the solution in the following step

Q: In 6 years Harry and Sally would like to have $24,000.00 for a dow use. How much should they deposit…

A: In this question, the monthly payment is to be calculated using the formula. M1-1+i-ni=A

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

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A:

Q: You borrowed $120,000 for a house and will have to pay $1,090 a month for 15 years. True or False:…

A: We can say it true or false with reason as below.

Q: If you want to earn 14% annual simple interest on an investment, how much should you pay for a note…

A: We Have Interest= Principal * rate * time(in years). Interest = 6200 Rate=14/100 and time= 6 months…

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest. a)…

A:

Q: You decide to deposit $290 each month into the retirement fund, and retire when you can afford to…

A: Introduction: One of the fundamental mathematical operations is division, which involves breaking a…

Q: A man invested $20,000 into two accounts paying 5% and 10% simple interest per year. If his earned…

A: To find the investment in each account.

Q: Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. a) How…

A: Here, given that you want $500,000 for retirement in 30 years. Your account earns 6%  interest,

Q: Offered a job with a low starting salary but with a $2,000 raise for each of the next 7 years . How…

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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: You promise your niece that you will give her $1 on her first birthday and double that amount every…

A:

Q: How long will it take money to triple if it invested at the following rates 5.2% compund weekly…

A: Q

Q: How much final amount would Abraham receive if he invest P100,000 for 1 year and 3 months at 11%…

A: Use the formula to calculate the simple interest as follows:

Q: Jay and Sybil are purchasing a home. They wish to save money for five years and purchase a house…

A:

Q: How much should you invest at 3.2% simple interest in order to earn $90 interest in 4 months?

A: The formula is I=Prt , Where I=interest earned, P=principal, r=rate of interest, t=time. Here, I=$90…

Q: Ms. Cruz borrowed P50, 000 and repaid it 5 years later. If money earns interest at16% compounded…

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Q: Suppose you want to have $700,000 for retirement in 35 years. Your account earns 10% interest. a)…

A: The given information is that the future value is $700,000 and the number of years is 35. The…

Q: Suppose you want to have $300,000 for retirement in 20 years. Your account earns 5% interest. a) How…

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: It cost $200,000 to put a kid through college.  How much money would you have to deposit monthly…

A:

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 5% interest. a) How…

A: Given: r = 0.05                    5% annual rate k = 12                      since depositing…

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Q: Pablito has $1 and his grandma says she will give him 100% interest on that $1 every year if he…

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Q: Archie Buchanon has a $28,000 boat that loses 12.5% of its value yearly.  How much is his boat worth…

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

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Q: the smiths brought a apartment for 75000. assuming that the value of the apartment will appreciate…

A: Current value, P = 75000Appreciation Rate, R = 4.3%Time, T = 7 yearsAmount after 7 years = P1 +…

Q: You inherited $5000 with the stipulation that for the first year the money had to be invested in two…

A:

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: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…

Q: A family has an annual income of $33, 000. How much is their monthly income? Their monthly income is…

A: A family has an annual income of $33,000. How much is their monthly income?

Q: The cost of a particular private school inclues a one-time initiation fee of $2,000, plus annual…

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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…

A:

Q: How much money does John have to reinvest from his father‘s account.

A: The formula for simple interest is A=P(1+rt). Here A is the amount obtained after the deposit of P…

Q: Suppose Sam makes $75,000 a year while Willie makes $6,500 per month.  Who makes more money per…

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Q: Monthly, Juan's net earnings are $6,000, and expenses are $5,500. If Juan saves the difference, how…

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Q: How much do you need to deposit each month for three years into a savings account that pays 6.5% APR…

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Q: You inherited $5000 with the stipulation that for the first year the money had to be invested in two…

A: Given, You inherited $5000 with the stipulation that for the first year the money had to be invested…

Q: . How much money will the customer have in the account after 5 years?

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Q: Nicole deposited $4,400 into a savings account earning 6% interest compounded quarterly. If she…

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Q: You deposit $1000 each year into an account earning 6.1% interest. How much will you have in the…

A: Given Information :  Amount $1000 deposit each year into an account earning 6.1% interest.  Let,  P…

Q: How much did the client borrow at 5% compounded annually when he settled his obligation of P85,300…

A: Compound hobby (or compounding hobby) is the hobby on a mortgage or deposit calculated primarily…

Q: You inherited $5000 with the stipulation that for the first year the money had to be invested in two…

A: Let the amount invested in 9% fund be x. As, the amount is %5000. Therefore, the amount invested in…

Q: A car is purchased for $31,000 . Each year it loses 30% of its value. After how many years will the…

A: Let the depreciated amount be represented by D(t). then according to the given condition.

Q: You borrow $4,000 for one year from a friend at an interest rate of 1.5% per month instead of taking…

A:

Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.