How much would you need to deposit in an account now in order to have $4,000.00 in the account in 8 years if the interest is: (a) 7.41% simple interest?  (b) 7.41% compounded monthly?

Q: Tom wants to have $6,000 in three years. At 4.75% interest compounded monthly, how much does he need…

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Q: A company needs $7,000,000 in 10 years in order to expand their factory. How much should the company…

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Q: Suppose you want to have $800,000 for retirement in 20 years. Your account earns 6% interest…

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Q: How much would you need to deposit in an account now in order to have $5,500.00 in the account in 12…

A: Let the amount to be deposited in an account P=$x Given that the amount after 12 years is P|=$5500…

Q: An amount of $42,000 is borrowed for 10 years at 5% interest, compounded annually. If the loan is…

A: The amount to be paid back  is computed using the formula,

Q: How much compound interest will Sue earn by investing $20,000 at 4.1% p.a. over a four year period,…

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Q: If you have $5000,00 to invest a rate of 3.5% compounded monthly, how long would it take to save…

A: Given investment(P) = $5,000.00 interest rate(r) = 3.5% per annum Final amount(A) = $15,000.00 The…

Q: How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: Here, we need to find the amount we deposit at the end of each month into an investment account that…

Q: You invested $9,000 at the end of each quarter for 8 years in an investment fund. If the balance in…

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Q: How much would you need to deposit in an account now in order to have $3000 in the account in 15…

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Q: How much should you deposit in a bank paying 2% compounded quarterly to accumulate an amount of…

A: The formula for compound interest is given by A=P1+rnnt where P is principle, A is total amount, r…

Q: If $12000 had been invested in a certain investment fund on September 30,2008, it would have been…

A: compounded interest formula A=P(1+rn)nt A=53625.75 P=12000 r=? t=10 years n=1 (compounded annually)…

Q: Crystal made equal deposits at the beginning of every 3 months into an RRSP. At the end of 6 years,…

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Q: Levi invested $5,300 in an account paying an interest rate of 2.4% compounded daily. Assuming no…

A: topic - exponents

Q: If Landon invests $3,000 in a 6-year certificate of deposit at the annual rate of 7.75%, compounded…

A: Let A be the amount of future value of investment,then A can be calculated as follows

Q: 3. If interest is compounded quarterly, how much will P100,000 be at the end of one year at 12%?

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

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Q: Frank Steed wants to open a camera shop. How much must he deposit now at 6% interest compounded…

A: To find the amount which should be deposited now at 6% interest compounded monthly to have $25,000…

Q: Liz wants to accumulate at least $40,000 by depositing $900 at the end of each month into a fund…

A: As the interest rate is compounded monthly:   Part (a):   Future value for the annuity is computed…

Q: How much would you need to deposit in an account now in order to have $5,000.00 in the account in 13…

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Q: An amount of $44,000 is borrowed for 8 years at 4.75% interest, compounded annually. If the loan is…

A: A=P(1+r)t P is the amount borrowed.r is the rate of interest.t is the time.

Q: An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded annually. If the loan is…

A: Given information:- An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded…

Q: an individual purchased a 4-year, $10,000 promissory note with an interest rate of 5.5%/year…

A: Solution: The objective is to determine how much did the note cost.

Q: 3. Find the compound amount and interest on P1, 500 at the end of 35 years and 9 months, if the…

A: Question number 3 has been solved as per the requirement of the student.

Q: How much would you need to deposit in an account each month in order to have $30,000 in the account…

A: Given, We want to have $ 30,000 in the account in 5 years   We have to find how much we need to…

Q: How much should be paid monthly into an account paying 6% interest compounded monthly so that the…

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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: You deposit $3200 in a bank with annual interest rate of 3.5% compounded annually. What would you…

A: The deposit is $3200, interest rate is 3.5% compounded annually. The balance amount be 5 years later…

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

A: Given data is: Amount=5000t=10 yearsr=6% compounded monthly Here, compounded monthly, therefore n=10…

Q: How much can be paid in scholarships at the end of each year if $650,000 is deposited in a trust…

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Q: If an annual interest rate is 12% and is compounded monthly, then what is the interest rate per…

A: NOTE: Refresh your page if you can't see any equations. . the annual rate is 12% and is compounded…

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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 15…

A: To determine the initial amount (principal) in the given compound interest problem

Q: Blue Spruce Motel will need to replace all of its bedding in six years, at a cost of $20,000. How…

A: Blue Spruce Motel will need to replace all of its bedding in six years, at a cost of $20,000.

Q: A loan of $47,000 is made at 6.75% interest, compounded annually. After how many years will the…

A: The principal amount of loan is $47000. The rate of interest per year is 6.75%. The amount with…

Q: A deposit of $550 is made in a savings account that pays an annual interest rate of 1% compounded…

A: The formula of the compound interest is, A=P1+rnnt where, A=Amount after the periodP=principal…

Q: You deposited $7000 in an investment fund that pays 5.5% per year, compounded quarterly. How much…

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

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Q: (SLO) How much should a mother invest at the time her son is born to provide him with $80,000 at age…

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Q: How much should you set aside and invest in a fund earning 9% compounded quarterly if you want to…

A: We need to find the amount of money that must be invested to accumulate P200,000 in 3 years and 3…

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

A: Formula: A=P1+rnnt where A= Final amount P= Principal initial balance r= Rate of interest t= Time…

Q: A bank offered 1.5% interest on accounts compounded monthly. (a) how much would deposit of $200 be…

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Q: How much would you have to deposit in an account today to have $37 000.00 in a three-year term…

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Q: How much did Speedy Movers borrow for a debt that accumulated to $51,034.26 in four years? The…

A: Given, Amount(A)= $ 51034.26 t= 4 years r= 3.25%= 0.0325 n= 2(semi-anually)

Q: You deposit $4000 in a bank with annual interest rate of 3.5% compounded monthly. What would your…

A: Here, P=$4000, n=1, r=0.035, and t=20.

Q: 2. ABC bank pays interest at the rate of 2% compounded quarterly. How much will Ken have in the bank…

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

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: How much would you need to deposit in an account now in order to have $6000 in the account in 15…

A: Let the amount to be invested be P

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

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Q: How much would you need to deposit in an account each month in order to have $40,000 in the account…

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