How much would you need to deposit in an account now in order to have $6,000.00 in the account in 5 years? Assume the account earns 3% simple interest. You would need to deposit in your account now. Question Help: Video 1 D Video 2 Message instructor Submit Question

Q: You deposit $100 each month into an account earning 5% interest compounded monthly. a) How much will…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=100 t=15 years n=12 for…

Q: Graduation is 5 years away and you want to have $600 available for a trip. If your bank is offering…

A: Now,      Total amount at Simple Interest :A=PR×T100+1P=Initial amount,R=Rate of InterestT=Time.

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A: Given:To borrow​ money, you pawn your guitar. Based on the value of the​ guitar, the pawnbroker…

Q: You deposit $200 each month into an account earning 3% interest compounded monthly. a) How much will…

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Q: You deposit $1540 in a savings account paying 3.3% simple interest. How much interest will you earn…

A: It  is given that deposit amount is 1540  dollars and the rate of interest is 3.3%. To find : the…

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Q: You deposit $980 in a savings account paying 3.8% simple interest. How much interest will you earn…

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Q: You want to be able to withdraw $40,000 each year for 15 years. Your account earns 6% interest.a)…

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Q: You deposit $860 in a savings account paying 5% simple interest. How much interest will you earn in…

A: The principal amount is $ 860, rate of interest is 4% and time is 4 yrs. Use the formula for the SI…

Q: You deposit $100 each month into an account earning 7% interest compounded monthly. a) How much will…

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Q: Bastian takes out a $3,500 personal loan with 5.6% fixed annual interest compounded monthly to pay…

A: This is a compound interest problem. The correct option here is option (B) Solution provided below

Q: Suppose you want to have $500,000 for retirement in 25 years. Your account earns 9%6 interest. a)…

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A: Given problem Given that   You put $200 per month in an investment plan that pays an APR of 6.5​%.…

Q: Suppose you want to have $600,000 for retirement in 20 years. Your account earns 9% interest. How…

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Q: To borrow​ money, you pawn your guitar. Based on the value of the​ guitar, the pawnbroker loans you…

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Q: A state lotto has a prize that pays $1,800 each week for 20 years. What is the total value of the…

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Q: You have $4,000 on a credit card that charges a 12% interest rate. If you want to pay off the credit…

A: For the given  Amount = 4000  and interest rate = 12 % The amount need to pay each month for a…

Q: How much would you need to deposit in an account now in order to have $4,000.00 in the account in…

A: Given problem Given that   The amount that you would need to deposit in an account now in order to…

Q: a) How much do you need in your account at the beginning? b) How much total money will you pull…

A: We are given with: PMT= REGULAR WITHDRAWAL AMOUNT= $30,000 r= ANNUAL INTEREST RATE= 7% n= NUMBER OF…

Q: To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you…

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Q: You want to be able to withdraw $35,000 each year for 25 years. Your account earns 8% interest. a)…

A: NOTE: Refresh your page if you can't see any equations. . PMT=35000 n=1 for annual payment t=25…

Q: Dobby borrowed $5,000 to start a foundation for recently freed house elves. He gets a 3.25% interest…

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Q: simple

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Q: Graduation is 5 years away and you want to have $600 available for a trip. If your bank is offering…

A: Simple Interest over time is given as:A= P0 (1+rt)A= Amount is the end amount i.e. principal plus…

Q: Don buys a car for $22,500. Don gets a loan for 5 years with an interest rate of 3% per year. How…

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Q: You deposit $200 in an account earning 7% interest compounded annually. How much will you have in…

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Q: Farrah borrows $18,000 to purchase a new car. The annual interest rate for the 60-month loan is…

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Q: account

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Q: You deposit $100 each month into an account earning 8% interest compounded monthly a) How much will…

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Q: Shyna borrowed Php. 35,000 with an annual interest of 6%. How much would be the interest? a. 2,100…

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Q: Saylor Henshaw earned $120 in simple interest in 9 months at an annual interest rate of 5%. How much…

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Q: Maxwell has deposited $125 into a savings account each month this year. He plans on depositing $15…

A: Observe that, In first year, Maxwell deposited each month $125 and he deposited more each month is…

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Q: A total of $26,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest. The…

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Q: Suppose you want to have $300,000 for retirement in 35 years. Your account earns 7% interest. a) How…

A: A) calculating monthly deposit,  Using TVM calculation PMT=[PV=0, FV=300,000, N=420, I= 0.07/12]…

Q: You deposit $1080 in a savings account paying 3% simple interest. How much interest will you earn in…

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Q: You deposit $200 each month into an account earning 8% interest compounded monthly. a) How much will…

A: We have to use formula for compound interest to solve the problem

Q: You want to buy a car. The loan amount will be $20,000. The company is offering a 4% interest rate…

A: NOTE: Refresh your page if you can't see any equations. . here we have L=20000 r=4%=0.04 n=12 for…

Q: You have $2,000 .on a credit card that charges a 21% interest rate. If you want to pay off the…

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Q: Sharon has deposited $140 into a savings account each month this year. She plans on depositing $15…

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Q: Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time.…

A: Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. We…

Q: You want to be able to withdraw $45,000 each year for 30 years. Your account earns 4% interest. a).…

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Q: Your aunt invests $400 into a savings account to help you pay for college textbooks. The savings…

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Q: You want to be able to withdraw $20,000 from your account each year for 15 years after you retire.…

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Q: To borrow money, you pawn your guitar. Based on the value of the guitar, the pawnbroker loans you…

A: First of all, consider the given values and the formula for the S.I.The principle amount =…

Q: You deposit $6000 in an account earning 3% interest compounded monthly. How much will you have in…

A: Compound interest