How much would you need to deposit in an account now in order to have $5000 in the account in 5 years? Assume the account earns 2% interest compounded monthly. $4 Question Help: OVideo I 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: You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Solution-  P = $5000 r = 5% or 0.05 t = 15 years n = 12 ( compounding monthly) Formula is given by…

Q: Complete the calculations to compare savings growth when interest is compounded annually, quarterly,…

A: Complete the calculations to compare savings growth when interest is compounded annually, quarterly,…

Q: A company needs $3,300,000 in 15 years in order to expand their factory. How much should the company…

A: Given :   P = 3300000 r = 4.3 % = 4.3/100  = 0.043  t = 15  Given compound weekly so  n = 52 t = 15…

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: Solve step by step in digital format please A person deposits $ 2,300 each past due month in a…

A: We will use the formulae of compound interest to find solution to the problem .

Q: You deposit $10,000 in an account that pays 2.88% annual interest. Find the balance after 2 years…

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Q: Molly starts an IRA (Individual Retirement Account) at the age of 24 to save for retirement. She…

A: the amount of money she saved is calculated as shown below

Q: You deposit $400 each month into an account earning 5% interest compounded monthly. You should show…

A: NOTE: Refresh your page if you can't see any equations. . here we have  PMT=400 r=5%=0.05 n=12 for…

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

A: See the attachment

Q: Use the formula for the value of an annuity to solve:At age 25, to save for retirement, you decide…

A: A traditional individual retirement account, IRA is a special type of retirement account in which…

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: 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: Find the final amount of money in an account if 38, 800 is deposited at 5 % interest compounded…

A: The final amount can be calculated using the compound interest formula given as:       Compound…

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: Find the final amount of money in an account if $1, 600 is deposited at 6.5 % interest compounded…

A: Given  Principal = $1600 rate = 6.5% time = 5 years  Compounded weekly.

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 $500 each month into an account earning 3% interest compounded monthly. a) How much…

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

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Q: Dr. Seals borrows $15,000 to remodel her backyard. The interest rate is 3%. The interest is…

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Q: Molly starts an IRA (Individual Retirement Account) at the age of 24 to save for retirement. She…

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

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Q: You want to be able to withdraw $20,000 each year for 20 years. Your account earns 5% interest…

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Q: You decide to quit using your credit card and want to pay off the balance of $9,600 in 4 years. Your…

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Q: At age 20, you start an IRA to save for retirement. You deposit $65 at the end of each month. If you…

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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: You deposit $500 in an account earning 7% interest compounded annually. How much will you have in…

A: We apply formula A = p(1 + r)t p = deposit r= intrest

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: You would like to have $500,000 when you retire in 40 years. How much should you invest each quarter…

A: According to question Final amount = A = $ 500,000 Time = t = 40 years Compounded quarterly implies…

Q: You deposit $5000 in an account earning 2% interest compounded monthly. How much will you have in…

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Q: would like to have $600,000 when you retire in 25 years. How much should you invest each quarter if…

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

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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: You would like to have $500,000 when you retire in 35 years. How much should you invest each quarter…

A: We will find out the required values.

Q: You put $350 in a savings account that earns 3% annual interest compounded monthly you do not make…

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

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Q: Ned deposits $15,000 in a certificate of deposit.  The annual rate is 9% and will be compounded…

A: We know the compound interest formula:A=P1+rnntWhere A=final amount          P=Principle amount…

Q: You would like to have $950,000 when you retire in 40 years. How much should you invest each quarter…

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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: Es A loan of $15,000 is made at 8% interest, compounded annually. After how many years will the…

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Q: A loan $43,000 of is made at interest 5%, compounded annually. After how many years will the amount…

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Q: Find the final amount of money in an account if $1, 800 is deposited at 7.5 % interest compounded…

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Q: What is the amount of money (P) that must be deposited in an account that pays 1% annual interest,…

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