How much would you need to deposit in an account now in order to have $4000 in the account in 10 years? Assume the account earns 2% interest compounded quarterly. Round your answer to the nearest cent. Calculator Submit Question

Q: You deposit $3000 in an account earning 2% interest compounded monthly. How much will you have in…

A: Since, there has been a deposit of $3000 in an account earning 2%interest compunded monthly. Our aim…

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…

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A: If an amount P is invested for a duration of t years at a rate of r% per compounded monthly, then…

Q: mt A = P (1+ %3D If I deposit $2,500 today in an account paying 1% interest compounded quarterly,…

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Q: You deposit $2000 in an account earning 7% interest compounded monthly. How much will you have in…

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

Q: Ron Sample is the grand prize winner in a college tuition essay contest awarded through a local…

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Q: You want to be able to withdraw $20,000 from your account each year for 20 years after you retire.…

A: Given: Withdrawable amount= $20,000 for 20 years. Expected retirement=3 years. interest rate 4%.…

Q: Ron Sample is the grand prize winner in a college tuition essay contest awarded through a local…

A: Given, the winner receives $7,000 at the beginning of each year for the next 3 years. To find the…

Q: A bank features a savings account that has an annual percentage rate of 3.8 % with interest…

A: GIVEN: annual rate = 3.8% amount = $2000

Q: If you invest $300 into a savings account that earns 8% annual interest compounded monthly, how much…

A: Here we find compounding.

Q: To establish a "rainy day" cash reserve account, a certain company deposits $12,000 of its profit at…

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Q: You deposit $2000 in an account earning 8% interest compounded quarterly. How much will you have in…

A: Given that:                     Principal amount, P=$2000Rate of interest, r=8%Time period, t=15

Q: You deposit $2000 each year into an account earning 3% interest compounded annually. How much will…

A: Given query is to find the amount in the account after 30 years.

Q: You deposit $3000 each year into an account earning 4% interest compounded annually. How much will…

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Q: The interest amount on a $63,500 loan was $221,138.19. The interest rate charged on loan was 7.44%…

A:

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

A: P=Principle=$3000t=time=15 yearsr=interest rate=8%=0.08A=final amount=?n=number of times compounded…

Q: Appa deposits $4000 in an account earning 3.6% interest compounded monthly. How much will Appa have…

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Q: John Lee's savings account has a balance of $716. After 3 years, what will the amount of interest be…

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Q: A corporation creates a sinking fund in order to have $580,000 to replace some machinery in 11…

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Q: How many times is the rate compounded? How much is the total in the account? (ROUND TO THE NEAREST…

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Q: Suppose you want to have $300,000 for retirement in 30 years. Your account earns 10% interest…

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Q: You deposit $100 each month into an account earning 3% interest compounded monthly. You should show…

A: Given Initial deposite PV=$100Monthly interest i=3%=0.03Time t=20 years

Q: Find the final amount of money in an account if $9,400 is deposited at 8% interest compounded…

A: Initial amount=P= 9400 Interest rate= r= 8%=0.08 Time=t= 6 years Number of times compounded in a…

Q: You deposit $5000 in an account earning 3% interest compounded quarterly. How much will you have in…

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Q: A bank features a savings account that has an annual percentage rate of 5.4 % with interest…

A: P = $ 5500 APR = 0.054

Q: You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a…

A: Given that, the retirement income per month is  $4300 (that is, the monthly withdraw). Time (t) = 25…

Q: Adam wishes to have ​$20,000 available in 22 years to purchase a new car for his son as a gift for…

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Q: Find how much money needs to be deposited now into an account to obtain $6,400 (Future Value) in 13…

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Q: The interest amount on a $45,500 loan was $168,263.58. The interest rate charged on loan was 9.60%…

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Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…

A: Solution.

Q: Find the final amount of money in an account if $3, 800 is deposited at 8 % interest compounded…

A: Given: P = $3800  r = 8 % =8100=0.08 t = 6 years  compounded semi-annually  To calculate: Final…

Q: You deposit $1000 each year into an account earning 8% interest compounded annually. How much will…

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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:

Q: You deposit $4000 each year into an account earning 3% interest compounded annually. How much will…

A: We can find the amount using the formula for compound interest as below

Q: A bank features a savings account that has an annual percentage rate of 5 % with interest compounded…

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

A: Let the amount he needs to invest be P.

Q: Ron Sample is the grand prize winner in a college tuition essay contest awarded through a local…

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Q: Find how much money needs to be deposited now into an account to obtain $8,000 (Future Value) in 9…

A: I am attaching image so that you understand each and every step.

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

A: Compound interest

Q: Ron Sample is the grand prize winner in a college tuition essay contest awarded through a local…

A: since the scholarship is awarded for 3 consecutive years, there will be 3 students each year who…

Q: At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of…

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Q: How much must be deposited today into the following account in order to have a $115,000 college fund…

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

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Q: lynn deposits $683.09 at the beginning of each quarter for three years in order to accumulate…

A: Given Periodic contribution, P=$683.09 Sinking fund, A=$9500.60 Time period, t=12 Quarters

Q: You deposit $2000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given:    A = 2000    t = 10   r = 5% = 5/100 = 0.05  Compound Monthly : n = 12

Q: Find the final amount of money in an account if $900 is deposited at 3.5 % interest compounded…

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Q: Find the final amount of money in an account if 38, 100 is deposited at 7% interest compounded…

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Q: Michelle invests in a savings account that pays 8% interest compounded monthly. What is the APY for…

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Q: How much must be deposited today into the following account in order to have a $130,000 college fund…

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