In order to accumulate enough money for a down payment on a house, a couple deposits $431 per month into an account paying 3% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 7 years? Type the amount in the account: $ (Round to the nearest dollar.)

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $724 per month…

A: We will find out the required value.

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $385 per month…

A:

Q: Jimmy paid off a mortgage by paying $725 per month for 16 years. What was the original amount of the…

A: Given

Q: To buy a house in Auckland, Mr Lim took a loan of $500 000 from a bank which chargers compound…

A: Loan Amount  = P0 = $500,000 Interest Rate , r  = 0.013 Loan term = n = 10 years The CI is…

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: The owner of Sebastopol Tree Farm deposits $650 at the end of each quarter into an account paying…

A: Recall: Formula  Future value, FV=P1+rnnt We have, P=$650, r=1.75%=0.0175, t=9, n=4{ since, compound…

Q: Jaspreet set up a fund that would pay his family $4,500 at the beginning of every month, in…

A: We can evaluate the following as follows

Q: Andrew deposited half of PhP 130,000 in a certificate of deposit (CD) paying 4% interest, compounded…

A: The compound interest formula is given by A=P(1+rn)nt. where, A is the final amount, P is the…

Q: Find the amount owed at the end of 3 years if $600 is loaned at a rate 3% compounded monthly. (Round…

A:

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $209 per month…

A:

Q: Justin received an excellent interest rate for his loan of $7,000. Calculate the nominal interest…

A:

Q: A loan of $10,967 was repaid at the end of 18 months. What size repayment check (principal and…

A:

Q: Ferryland Inc. is leased in perpetuity at $ 11250 due at the beginning of each month. If the money…

A: Thanks for the question :)And your upvote will be really appreciable ;)

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

A:

Q: Clearlake optical has a $50000 note due in 3 years. The owners wish to create a sinking fund to pay…

A:

Q: If you would like to make $1079 in 5 years, how much would you have to deposit in an account that…

A: Given that $1079 has to be made in 5 years and the simple interest rate is 7%. It is required to…

Q: How much will he have in the account after 30 years?

A: Here use Future value formula

Q: Bill is saving for his son's college education. If the savings account earns 5% interest compounded…

A: First I have written the formula for future value when money is invested with compound interest.Just…

Q: Maura received $1000 from friends and family for college graduation. If she deposits her money into…

A:

Q: . Find the simple interest (I = Prt) of $10,000 invested for 6 years at an annual simple interest…

A: Definition: simple interest If an amount of money,  P , the principal, is invested for a period of…

Q: Cameron set up a fund that would pay his family $4,000 at the beginning of every month, in…

A: We have to find the size of investment.

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 2% interest…

A:

Q: Dylan deposited $4,000 in a 3-year CD account that pays 3.08% interest, compounded weekly. What is…

A: Use formula of compound interest weekly.

Q: Milena deposited ​$9,000 in a certificate of deposit​ (CD) account that pays 3​% annual​ interest…

A: Given query is to find the amount accumulated in the account after 5 years.

Q: Marwan provides a donation of $6556 to a college with the provision that a scholarship is paid at…

A:

Q: Shelby received a 15 year loan of $250,000 to purchase a house. the loan was 5.10% compounded…

A: Loan Amortization Formula A=Pi(1+i)n(1+i)n-1 where A is payment amount per period P is loan amount i…

Q: In order to accumulate enough money for a down payment on a home, a couple deposit $300 per month…

A: Given, PMT = 300 r = 6% = 0.06 m = 12 t = 5 i=rm=0.0612=0.005 n = mt = 12(5)=60

Q: On a girl's 10th birthday, her father started to deposit P5,000 quarterly at the end of each term in…

A: We can solve this using future value formula

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: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A: Given: Initial amount (P)= $10,000 Rate of interest (R)=7% Time period (t)=18   The formula for…

Q: Cameron is expected to settle a loan by paying $7,500. What amount should he pay if he decides to…

A: Here we find loan settlement amount.

Q: Grace's bank has a Cerificate of Deposit with an APR of 5% compounded monthly. (a) If Grace deposits…

A: Here, the formula used is: CI=P1+rnnt Here, CI is compound interest, P is the principal amount, r is…

Q: A service car whose cash price was P540,000 was bought with a down payment of P162,000 and a monthly…

A: Consider the given information.

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 4% interest…

A:

Q: If you would like to make $2236 in 8 years, how much would you have to deposit in an account that…

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: Cueton Hep For her daughter's education, Georgina Harcourt has invested an inheritance in a fund…

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Q: The rebate offer is $3100, and you can obtain a car loan at your local bank for the balance at 4.6…

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Q: Mr. and Mrs. Maglalang decide to set aside ₱ 500,000 today and place it on a bank savings account…

A:

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

A:

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $327 per month…

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

Q: Berno deposits $30,000 into an account paying 4.25% annual interest, compounded quarterly. How much…

A:

Q: In buying a car, Amiel pats P 210,000.00 cash and agrees to pay P790,000.00 for 4 years at 12%…

A: Given that, in buying a car, Amiel pats P 210,000.00 cash and agrees to pay P790,000.00 for 4 years…

Q: Golton took outa loan from the bank to purchase a car. If he borrowed $17,240 at a simple interest…

A: Principal amount is: P = $ 17,240 Interest rate is: r = 8.25 % Total time period of loan: t = 5 year

Q: For her​ daughter's education, Georgina Harcourt has invested an inheritance in a fund paying 7.4​%…

A: Given: PMT=$146 Number of years = 9 Total number of months n=9 x 12 =108 Interest=7.4% annually…

Q: A local moving service recently purchased a van by securing a loan with semiannual payments of $3200…

A:

Q: While buying a new car, Derek made a down payment of $1,000.00 and agreed to make month-end payments…

A: It is given that periodic monthly payment is $310 The interest rate is 4% compounded quarterly i.e.,…

Q: June made an initial deposit of $7500 in an account for her son. Assuming an interest rate of 2%…

A: Given that t=time=17 yearsr=interest rate=2%=0.02A=annuity=?n=number of times compounded in a…

Q: Jennifer received a loan at 5% p.a. simple interest for 8 months. If he was charged an interest of…

A: