How much would you need to deposit in an account now in order to have $1,500.00 in the account in 15 years? Assume the account earns 5.31% interest compounded monthly. You need to deposit _____?_______now to have $1,500.00 in the account in 15 years.

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 5…

A: From the provided information is  Present value=Amount*(1+rate)-period  PV=3000*(1+(0.066))-6*5…

Q: a)How much would you need to deposit in an account now order to have $6000 in the account in 10…

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Q: You want to buy a new car. You can afford payments of $375 per month and can borrow the money at an…

A:

Q: Leona opens a savings account with an initial deposit of $150.  She then deposits $150 into that…

A: Given Leona deposits $150 into the savings account at the end of every subsequent month.

Q: Finance. A person wishes to have $24,400 cash for a new car 4 years from now. How much s ccount now,…

A: INTRODUCTION: The formula for compound interest is given by, A=P1+rnnt Where P is the principal…

Q: - Brad has a government bond that will be worth $10,588.13 in seven years. The bond has an interest…

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Q: You decide to quit using your credit card and want to pay off the balance of $2,200 in 2 years. Your…

A: This is compound interest problem

Q: Troy is saving for his retirement 23 years from now by setting up a savings plan. He has set up a…

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Q: You want to receive ​$400 at the end of every six months for 5 years. Interest is 11.8% compounded…

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Q: A company has borrowed $500,000. The loan is to be repaid in quarterly payments over 20 years.…

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Q: an employee wants to invest $50,000 in a pension plan. One investment offers 6% compounded…

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Q: A new employee charged $6700 on his credit card to relocate for his first job. After noticing that…

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Q: You start a retirement fund. You can afford to make monthly deposits of $200 into an account earning…

A:

Q: Sallie wants to buy a new home.  She will borrow $400,000 at 3% compounded monthly for 30 years.

A: Given, Initial amount: Interest rate: Interest rate for compounded monthly: Number of years:…

Q: You want to buy a new car. You can afford payments of $500 per month and can borrow the money at an…

A: From the given data,A=$500 per month.Interest rate of 5.7% compounded monthly for 5 years.

Q: At age 30, to save for retirement, you decide to deposit $100 at the end of each month into an IRA…

A:

Q: You have a savings account into which you invest $75 at the end of every month and the account pays…

A:

Q: You deposit $3000 in an account earning 8% interest compounded monthly. How much will you have in…

A:

Q: You deposit $3400 in an account earning 3.2% interest compounded monthly how much will you have in…

A: detailed solution is given below

Q: How much must be deposited in an account to have annual withdrawals of $ 1500 forever? Interest is…

A: To find - How much must be deposited in an account to have annual withdrawals of $ 1500 forever?…

Q: Sonny invests $8,000 into an account earning 7.5%.  He leaves it there for 5 years.  What is Sonny’s…

A: Topic= Algebra

Q: An investment of P2,850 is made at the beginning of each month for 6 years and 7 months. How much…

A: Given that investment of P=2850 per month  for time T=6 years and 7 months= 79 months rate of…

Q: You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given: The principal amount is P = $ 5000. Rate of interest is r = 5%. The number of times the…

Q: You have $500,000 saved for retirement. Your account earns 10% interest compounded monthly. How much…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: A woman deposits $11,000 at the end of each year for 10 years in an account paying 5% interest…

A: Given, a woman deposits $11,000 at the end of each year for 10 years in an account paying 5%…

Q: 10. A sinking fund needs to be $10,000 after 5 years. The fund has an annual interest rate of 3%,…

A:

Q: You deposit money into an account paying 9% annual interest compounded monthly. You need the account…

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Q: Jeff wishes to accumulate $8,500 in 6 years. Use the appropriate formula to find the sinking fund…

A: Here we want to find the annuity amount that is to be paid in arrear in order to accumulate 8500 in…

Q: A woman deposits $14,000 at the end of each year for 11 years in an account paying 5% interest…

A:

Q: To offer scholarships to children of employees, a company invests $10,000 at the end of every three…

A: (a) It is given that, P = $10,000, r = 0.09, n = 4 and t = 10. Substitute P = $10,000, r = 0.09, n =…

Q: want to be able to withdraw $40,000 each year for 20 years. My account earns 4% interest compounded…

A: To determine the amount that needed to invest in the beginning in order to withdraw $40,000 each…

Q: You have $500,000 saved for retirement. Your account earns 8% interest compounded monyhly. How much…

A: Given: The amount at beginning P0=$500,000 Rate of interest R= 8% Number of compounding period in…

Q: Typos borrowed $16500 to pay for the wedding of his daughter. Typos repair the loan after 3 years…

A:

Q: A credit card charge 29% p.a interest compounded daily. Assuming that you borrow $3000 on the credit…

A:

Q: You want to buy a new car. You can afford payments of $275 per month and can borrow the money at an…

A: Here, I am solving 1st part only and please post the 2nd part of the question againGiven,…

Q: c) Martha invests N$1000 in a Unit-Trust account at an annual interest rate of 7.5%. How much money…

A: For compounded monthly ,Amount=P1+R1212xtwhere t is the time in yearsR is the rate .

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 8…

A: we know that the formula ,  F = P ( 1 + (r/n)) n • t  Here , F = future value  P = Principal amount…

Q: You deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in…

A: From the provided information FV=P*((1+r)n-1r)FV=4000*((1-0.02)5-10.02)FV=20816

Q: nance. A person wishes to have $27,100 cash for a new car 4 years from now. How much should be…

A:

Q: You want to buy a new car. You can afford payments of $350 per month and can borrow the money at an…

A: Given query is to find the loan amount and interest paid.

Q: Benjamin wants to accumulate at least $45,000 by depositing $1,200 at the end of each month into a…

A:

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: You borrow $450,000 from a bank to buy a house, at a rate of 2.25%, for 30 years. How much will your…

A: In the given problem,  P=450,000 $r=2.25% compounded monthlyt=30 years Here, interest is compounded…

Q: Annuities: A person wishes to have $400,000 in an account for retirement 15 years from now. How much…

A: I applied compound interest formula and simply put the given values

Q: 14. You have a new savings account at the bank and deposited $10,000. The interest is compounded…

A:

Q: A new employee charged $7460 on his credit card to relocate to his first job. After noticing that…

A:

Q: A student opens a credit card and immediately maxes it out by putting $500 on it in order to pay for…

A: amount deposit = $500 interest rate = 25.99% compounded monthly time =12 months

Q: invest $15,000 at 5.5% interest compounded monthly for 12 years. How much will you have accumulated…

A: Given that there is a investment $15,000 at 5.5% interest compounded monthly for 12 years.

Q: You expect to retire in 15 years. Ater you retire, you want to be able to withdraw $2,500 from your…

A: