How much would you need to deposit in an account now to have $3,000 in the account in 5 years? Assume the account earns 2% simple interest.

Q: Melanie invests $13,000 at 13% simple interest for 1 year. How much is in the account at the end of…

A: Substitute 13000 for P, 13% for r and 1 year for t in the simple interest formula I=Prt and…

Q: Suppose you want to have $300,000 for retirement in 20 years. Your account earns 7% interest.a) How…

A: According to the given information:Amount earned after retirement PN=$300,000Time (n) = 20yearsRate…

Q: You deposit $100 each month into an account earning 6.3% interest compounded monthly for 30 years.…

A: Here given  Principle amount P=$100 rate r=6.3% time t=30 years,

Q: Find the balance on an account if you invest $ 1,758 at 3.4% for 22 years using simple interest.

A: Given:P The amount invested is $1758 at interest rate 3.4% for 22 years. To find : The balance in…

Q: How much would you need to deposit in an account now in order to have $4,000.00 in the account in 14…

A: We will find the principal for given problem.below find the detail solution in image.

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: How much would you need to deposit in an account now in order to have $4,000.00 in the account in 20…

A: How much would you need to deposit in an account now in order to have $4,000.00 in the account in 20…

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

A: For Cash Flow at period 1=C1, rate of return = r and number of periods = n, the Present Value…

Q: You deposit $3000 in an account earning 3% interest compounded monthly. How much will you have in…

A:

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

A:

Q: You deposit $400 in an account earning 4% interest compounded annually. How much will you have in…

A: Given: Deposited amount  P0=400           Interest R=4%           Compounded anually n=1…

Q: You deposit $500 each month into an account earning 3% interest compounded monthly. a) How much will…

A:

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest. a)…

A:

Q: How much money do you need to deposit in a bank today if you are planning to have $5000 in four…

A: Here we have to find hoe much money do you need to deposit in a bank today if you are planning to…

Q: You deposit $4000 in an account earning 4% interest compounded monthly. How much will you have in…

A:

Q: Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. a) How…

A: Here, given that you want $500,000 for retirement in 30 years. Your account earns 6%  interest,

Q: You deposit $8400 into an account earning 6% interest compounded quarterly. How much interest will…

A:

Q: You deposit $175 in an account that pays 4% interest compounded quarterly. How much will you have in…

A: The formula for the compound interest is given by A=P1+rnnt, where A is the final amount, P is the…

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: You deposit $200 each month into an account earning 4% interest compounded monthly. a) How much…

A: according to question, we have deposit $200 each month into an account earning 4% interest…

Q: You deposit $100 each month into an account earning 2% interest compounded monthly. a) How much will…

A: The details solution is given below

Q: You deposit $300 in an account earning 6% interest compounded annually. How much will you have in…

A:

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Let the monthly payment be P . It is provided that future value, A=10000 . The rate of interest, r…

Q: Suppose you want to have $700,000 for retirement in 35 years. Your account earns 10% interest. a)…

A: The given information is that the future value is $700,000 and the number of years is 35. The…

Q: You deposit $500 each month into an account earning 8% interest compounded monthly. a.how much will…

A:

Q: Suppose you want to have $300,000 for retirement in 20 years. Your account earns 5% interest. a) How…

A:

Q: You deposit $200 each month into an account earning 2% interest compounded monthly. a) How much…

A: Given:         Monthly deposit =$200         Interest rate =2%=2100=0.02 Formula used: Future value…

Q: You deposit $100 each month into an account earning 6% interest compounded monthly. a) How much will…

A:

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 5% interest. a) How…

A: Given: r = 0.05                    5% annual rate k = 12                      since depositing…

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

A:

Q: You deposit $100 each month into an account earning 2% interest compounded month a) How much will…

A:

Q: Suppose you want to have $700,000 for retirement in 25 years. Your account earns 10% interest. a)…

A: The objectives are: a) How much would one need to deposit in the account each month?b) How much…

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: We know that Simple interest = PTR/100 Here Time is 7 years and Rate is 6%  Amount is 20000$. Amount…

Q: You deposit $4000 in an account earning 6% interest compounded monthly. How much will you have in…

A: Compound interest formula is A=P1+rnnt A = final amountP = initial principal balancer = interest…

Q: You deposit $4000 in an account earning 8% interest compounded monthly. How much will you have in…

A:

Q: How much would you need to deposit in an account each month in order to have $50,000 in the account…

A:

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: Given: The required amount in future is $20,000. The interest rate is 2%. The time duration is 8…

Q: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…

Q: You deposit $600 in an account earning 7% interest compounded annually. How much will you have in…

A: Initial amount=P= 600 Interest rate= r= 7%=0.07  Time=t= 20 years Number of times compounded in a…

Q: You deposit $500 each month into an account earning 3% interest compounded monthly. How much will…

A:

Q: You deposit $2000 in an account earning 6% interest compounded monthly. How much will you have in…

A:

Q: You deposit $3000 in an account earnings 3% interest compounded monthly. How much will you have in…

A:

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

A:

Q: You deposit $2000 in an account earning 6% interest compounded monthly. How much will you have in…

A:

Q: You deposit $300 each month into an account earning 6% interest compounded monthly. How much money…

A:

Q: You deposit $300 in an account earning 5% interest compounded annually. How much will you have in…

A: Here,  P= 300$ i = 5% = 0.05 n= 20 years

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest…

A: We will find out the required values.

Q: You deposit $1000 each year into an account earning 6.1% interest. How much will you have in the…

A: Given Information :  Amount $1000 deposit each year into an account earning 6.1% interest.  Let,  P…

Q: You deposit $3000 in an account earning 4% interest compounded monthly. How much will you have in…

A: Here we can use formula to get required account status

Q: Sally has a sum of $20000 that she invests at 11% compounded monthly. What equal monthly payments…

A: Solution