If Jackson deposits $60 at the end of each month in a savings account earning interest at a rate of 2%/year compounded monthly, how much will he have on deposit in his savings account at the end of 3 years, assuming he makes no withdrawals during that period? (Round your answer to the nearest cent.) $ 2094.78 Need Help? Read It

Q: A grandparent puts $4,000 into a college education fund for a grandchild. If the fund earns 2.75%…

A: total amount = P(1+r/100)n here r = 2.75/365 = 0.007534 n = 365*18 = 6570 total amount = 4000(1+…

Q: At age 25, to save for retirement, you decide to deposit $75 at the end of each month in an IRA that…

A: Given Data The deposit amount is P=$75. The interest rate per month is r=6.5%. The time at age of 25…

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: An insurance settlement of $1 million paid today will be invested and used to replace Trixie Eden's…

A: Part-1(Given) An insurance settlement of $1 million paid today will be invested and used to replace…

Q: A perpetuity earning 4.00% compounded semi-annually is started with a $159,000.00 investment. How…

A:

Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

A:

Q: Parents wish to have $110,000 available for a child's education. If the child is now 9 years old,…

A:

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

A:

Q: An item will need replacing in 6 years from now at a cost of P128,000.00. How much should the owner…

A:

Q: Recently, More Money 4U offered an annuity that pays 4.5% compounded monthly. If $1,850 is deposited…

A: Let's find.

Q: You have a big account that has a 6% interest rate and is compounded semiannually. How much should…

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

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest…

A:

Q: 5. If you deposited $1500 into an account that paid 2% interest, compounded monthly, what would be…

A: Please refer to the image below

Q: Atticus College predicts that in 14 years it will take $250,000 to attend the college for four years…

A:

Q: A business must raise $80,000 in 7 years. What should be the size of the owners' quarterly payment…

A: Here Pt=80000, t=7, n=4, r=3%=0.03 ,d=? *** This is the problem related to financial mathematics and…

Q: Kevin deposits a fixed quarterly amount into an annuity account for his child's college fund. He…

A: Given data: The future value is FV=$80000. The time taken is t=13 years. The APR is r=3.3%.

Q: A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can the homeowner…

A: Given that  A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can…

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

A:

Q: An account is opened with an initial deposit of $4600 and earns 7.3% interest, compounded…

A: NOTE: Refresh your page if you can't see any equations. . here we have P=4600 r=7.3%=0.073 n=2 for…

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: If you have $40,000 in a bank account that is paying an interest rate of 6 percent that is being…

A: Given:- If you have $40,000 in a bank account that is paying an interest rate of 6 percent that is…

Q: James deposits a fixed monthly amount into an annuity account for his child's college fund. He…

A: Consider the provided question, James deposits a fixed monthly amount into an annuity account for…

Q: If you want to have a million dollars 31 years from today, how much should you invest in your…

A: The formula for compound interest :   A = P(1+r/n )nt   Where A = Total amount , P = initial…

Q: If a person takes a mortgage OMR 82,000 for 25 years, with a rate of interest 4% compounded…

A: Total number of periods is 100. Therefore answer b is correct.

Q: Attucks College predicts that in 12 years it will take $⁢250,000 to attend the college for four…

A: Given Information A =$250000,  rate of interest = 11% = 0.11 n = 12 (Compounded monthly) t = 12…

Q: How much is P1,200 worth at the end of 1 year if the interest rate of 5.5% is compounded quarterly?…

A:

Q: John Lee's savings account has a balance of $1,251.00. After 5 years, what will the amount of…

A:

Q: A MasterCard statement shows a balance of $560 at 13.9% compounded monthly. What monthly payment…

A:

Q: Donald Trumptobe decided to build his own dynasty. How much does he have to deposit so that his…

A:

Q: Sumi Kato's savings account has a balance of $1292. After 12 years what will the amount of interest…

A: Compound interest formula

Q: If 49900 dollars is invested at an interest rate of 9 percent per year, find the value of the…

A: Formula for Compound Interest A=P1+rnnt where A= Accumulated amount P= Principal r= Rate of interest…

Q: An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly.…

A: From the given data

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest…

A:

Q: An account is opened with an initial deposit of $5700 and earns 1.9% interest, compounded…

A: NOTE: Refresh your page if you can't see any equations. . here we have  P=5700 r=1.9%=0.019 t=0…

Q: A homeowner planning a kitchen remodeling can afford a $900 monthly payment. How much can the…

A:

Q: Robin, who is self-employed, contributes $5500/year into a Keogh account. How much will he have in…

A: Present value (PV) = $5000 per year   Time = 20 years   Intrest rate = 5.5% per year

Q: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

A: given, principal (P)=$1       interest rate (R)=6%=6/100 =0.06      time (t)  = 300 years…

Q: A merchant sells an item worth 64,999 php. If an initial payment of 20,000 php was paid to the…

A: A merchant sells an item worth 64,999 php. If an initial payment of 20,000 php was paid to the…

Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Given Amount =$1,000,000 time 6 years rate 7.7%

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 8% interest…

A:

Q: A corportation creates a sinking fund in order to have $550,000 to replace some machinery in 12…

A:

Q: If Jackson deposits $80 at the end of each month in a savings account earning interest at a rate of…

A: According to the given informationAmount deposited (P) = $80Rate of interest (R) = 2% per annumTime…

Q: Jennifer's pension plan is an annuity with a guaranteed return of 5% per year (compounded monthly).…

A:

Q: Recently, More Money 4U offered an annuity that pays 4.8% compounded monthly. If $2,121 is deposited…

A:

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

A: Here we will use the recurring deposit formula for calculating the compound interest. Sum of the…

Q: Meg's pension plan is an annuity with a guaranteed return of 7% per year (compounded quarterly). She…

A:

Q: Robin, who is self-employed, contributes $6000/year into a Keogh account. How much will he have in…

A: Given, Robin, who is self-employed, contributes $6000/year into a Keogh account

Q: Use the Zero Coupon Bond information above to answer this question. A zero coupon bond with a face…

A:

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

A:

Statements and Logic

Logic is the analysis of general patterns of thoughts without regard to any specific sense of context.