If you deposit P 6.500 into an account paying 8% annual interest compounded monthly, how much money will be in the account after 7 years

Q: Donald and Corey plan to send their son to university. To pay for this they will contribute equal…

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Q: The Weidmans want to save $30,000 in 2 years for a down payment on a house. If they make monthly…

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Q: The Weidmans want to save $45,000 in 4 years for a down payment on a house. If they make monthly…

A: The equation for amount payable for each month, I= A×((rn)((1 +rn)nt - 1))where, A is the final…

Q: Carrie took out a $12,000 personal loan to pay off her credit cards. She will not make a payment for…

A: (you are not mention clearly interest rate ,is it monthly or yearly) Given Principal P=$12,000…

Q: Sasha plans to take out a $28,000 auto loan with an annual interest rate of 4.1%. She must choose…

A: Key fact:- Interest on an auto loan is calculated using simple interest, not compound interest,…

Q: Use Table 11-2 to solve the problem. Stuart Daniels estimates that he will need $28,000 to set up a…

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Q: Jessica wants to accumulate $11,000 by the end of 6 years in a special bank account, which she had…

A: Formula for finding the future value of the annuity is as follows. FV=P1+rn-1r P is the periodic…

Q: Melissa agrees to contribute $500 to the alumni fund at the end of each year for the next 9 years.…

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Q: Emilia and Liam are purchasing a home. They wish to save money for 1212 years and purchase a house…

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Q: Help please? I feel like I'm doing this correctly, but making a minor mistake somewhere? Steven…

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Q: You want to buy a new car. You can afford payments of $450 per month and can borrow the money at an…

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Q: At age 25, to save for retirement, Rebecca decides to deposit S80 at the end of each month in an IRA…

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Q: Activity Activity 1: What's my future? Directions: Read the problem carefully and then write your…

A: By bartleby rules, only first question has been answered In order to save for her high school…

Q: Matilda wishes to retire at age 67 with $1,300,000 in her retirement account when she turns 28 she…

A: Introduction: Suppose, a person deposits an amount P at rate of r% compound interest compounded n…

Q: $1,600,000 in her retirement account. When she turns 28, she decides to begin depositing money into…

A: Introduction: The formula of monthly payments is given by, A=PMT×1+rkn-1rk Where PMT is the monthly…

Q: How much should you invest each month in order to have $800,000 if your rate of return is 7.8%…

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Q: Tony is evaluating his retirement savings. He currently has $318,000 in his account, which earns an…

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Q: A​ woman, with her​ employer's matching​ program, contributes ​$800 at the end of each month to her…

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Q: 4. Nelson's financial goal is to invest a sum of money at 4% interest compounded monthly. If his…

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Q: Matilda wishes to retire at age 67 with $1,500,000 in her retirement account. When she turns 28, she…

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Q: Suzanne opens a line of credit at a local bank, and immediately borrows 1510 dollars. 5 months…

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Q: Heather and Ahmed plan to send their son to university. To pay for this they will contribute 12…

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Q: hat lump sum must be invested at 6%, compounded monthly, for the investment to grow to $52,000 in 6…

A: Use compound interest formula.

Q: my question states : A 529 Plan is a college savings plan that allows relatives to invest money to…

A: We need to find the investment.

Q: 3) Find the amount of time it would take for your balance to double at an interest rate of 8.75%.

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Q: What is the balance after 2 years on a CD with an initial investment of $2,600.00 and a 3.2%…

A: Given problem Given that   We have to find the balance after 2 years on a CD with an initial…

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

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Q: 5. Jonas deposited $7000 in a certificate of deposit that pays 2.5% interest compounded annually.…

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Q: Parents wish to have $130,000 available for a child's education. If the child is now 3 years old,…

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Q: Parents wish to have $100,000 available for a child's education. If the child is now 6 years old,…

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Q: Dolores wants to save $70 a month in an account which pays 6% interest compounded monthly. If they…

A: The future value F of an annuity of n payments of E dollars each, paid at the end of each investment…

Q: Larry and Peggy are making decisions about their bank accounts. Larry wants to deposit $350 as a…

A: This question is based on Compound interest.

Q: Melissa agrees to contribute $500 to the alumni fund at the end of each year for the next 5 years.…

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Q: Ghassan is planning to buy a car in B years. He wants to invest RO (A + 300) and hopes to have RO (A…

A: A=18B=19 By the formula. We have, Future value=Present value1+rt Where r=rate  And    t=time

Q: Erica and Guadalupe plan to purchase a home for $241,000. They will pay 20% down and finance the…

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Q: Parents wish to have $150,000 available for a child's education. If the child is now 8 years old,…

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Q: part A: You want to have $100,000 when you retire in 15 years. If you can earn 8% interest…

A: According to guidelines we should have been able to solve only first question at a time

Q: Julieta and Eric are purchasing a home. They wish to save money for 10 years and purchase a house…

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

Q: elena's son enter college 16 year from now. At the time she would like to have $20,000 available for…

A: Elena's son enter college 16 years from now and the available balance $20,000 for college expenses.…

Q: You plan to save money for a down payment of $38,0 can only afford to save $6,000 at the end of…

A: Topic:- compund interest

Q: The Weidmans want to save $50,000 in 3 years for a down payment on a house. If they make monthly…

A: It is given that the Weidman's want to save $50000 in 3 years for a down payment. The interest is…

Q: johnny needs to borrow $2000 to replace a mirror in his dojo, Cobra Kai. He can get a loan from the…

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Q: kyoko has $10,000 that she wants to invest. Her bank has several investment accounts to choose from…

A: NOTE: Refresh your page if you can't see any equations. . here we have P=10000 A=15000 t=6 years…

Q: Kimberly Miller Compounding - Solve for Principal Nov 09, 10:13:12 PM Watch help video Brayden is…

A: Solve for principal amount

Q: Claire invested $98,000 in an account paying an interest rate of 4^3/8. Kayla invested $98,000 in an…

A: Given Claire invested $98,000 in an account paying an interest rate of 4^3/8. Kayla invested $98,000…

Q: Videotech specializes in online security software development. It wants to have $94 million…

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

A: From the given information, Consider,  Total deposit at life long Trust Saving and loan =$1000…

Q: Sarah wants to save for a car that costs $5000. She has $4250 in a savings account earning 1.49%…

A: The amount invested is $4250 The rate of interest is 1.49% compounded quarterly the cost of car is…

Q: Solve the following problem set in simple Interest. Show your handwritten solution. What is the…

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Q: You want to withdraw $600 each month for the next 15 years from an account that earns 5% annual…

A: Intrest formulae for compounding monthly is given below