Investments You deposit $200 in a savings account that earns 3% interest compounded yearly. Find the balance in the account after the given amounts of time. 21. а. 1 year b. 2 years с. 5 years

Q: 2. Kelly plans to deposit her graduation money into an account and leave it there for 4 years while…

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Q: 10. How long (approx.) will it take $10,000 to grow to $15,000 if the investment earns an interest…

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Q: You have $500,000 saved for retirement. Your account earns 4% interest. How much will you be able to…

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Q: Learned the value of the annuity At the end of the indicator number of years. I assume that the…

A: Rate of interest =r Time=t Principal value(money)=M Total money= interest +principal value

Q: You know you will have $1,000,000 in your account when you retire. You want to be able to take…

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Q: You put $2,000 into an account, knowing the following information: your money will be compounded…

A: Given initial amount in the bank is $2,000. It is given that when money is compounded daily then…

Q: Sharlene opened a new account and deposited $6,000. - The bank pays 5.5% interest compounded…

A: We have to find the amount in her account at the end of 5 years

Q: You have an interest rate of 7.25% compounded 2 times per year on an investment. What percentage is…

A: Here we find the percentage.

Q: 6. How much would Abraham receive if he invest P100,000 for 4 years at 11% simple interest? (Round…

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Q: After obtaining your first job you decide to make contributions to your personal retirement plan.…

A: Given- After obtaining your first job you decide to make contributions to your personal retirement…

Q: I have $4000 in an account earning 3% interest compounded monthly. How much will I have in the…

A: Given:         Initial amount, P=$4000         Interest rate, r=3%=3100=0.03

Q: 3. Garrison deposited $500 in an account that earns 3% interest compounded annually. How much…

A: We know the formula for interest and we are given with the time period and interest rate and we have…

Q: Troy is saving for his retirement 23 years from now by setting up a savings plan. He has set up a…

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Q: You have $500,000 saved for retirement your account earn 7% interest how much will you be able to…

A: Payout annuity

Q: 1. Gwen has saved $3,500 and wants to deposit it into a savings account that egrns 4% annual…

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Q: Al Miller the owner of Al's garage estimates he will need 29,000 dollars for new equipment in 15…

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Q: You decide to invest $250 in an account that yields a return of approximately 4% each year. What is…

A: the solution is given below

Q: How long will it take for a sum of money to double if it is invested at 5% interest compounded…

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Q: 6. Emily invests $5,000 in an account that pays 4% simple interest. About how many years will it…

A: The correct option is, option (C) 25 years.   The detailed solution is as follows below:

Q: You know you will have $25,000,000 in your account when you retire. You want to be able to take…

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Q: 7. Holden borrowed $450 from his sister and 8 months later paid her $550. If interest was compounded…

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Q: Noah invests $3,600 for two years.   The account pays 0.43% monthly compound interest. To the…

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Q: Kaysha's aunt gave her $5,500 when she was born. Her parents invested it at 1 1 a rate of 4%…

A: The principal amount, P = $5500 Rate of interest, r = 4% = 0.04 Number of times the interest…

Q: The cost to attend 1 year at the college that Jordyn would like to attend is $17,250. Jordyn's…

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Q: Indicate the answer choice that best completes the statement or answers the question.         2.…

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Q: You deposit $3400 in an account earning 3.2% interest compounded monthly how much will you have in…

A: detailed solution is given below

Q: A - P(1 +t Emily would like to buy some new furniture for her home. She decides to buy the furniture…

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Q: 2. If you invest $10,000 in a bank which one is a better investment? a) 9% compounded monthly b)…

A: See the attachment

Q: 3. Gabriela deposited $500 in an account that earns 3% interest compounded annually. How much…

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Q: Felicia invested $25,000 into an account earning 3% annual interest compounded quarterly. She makes…

A: Compound Interest Question

Q: You saved $1,240 and your sister agrees to put it in a savings account at her credit union so you…

A: P=1240,  r=8%=0.08,  t=2  &  n=4.

Q: You have $300,000 saved for retirement. Your account earns 6% interest. How much will you be able to…

A: Given query is to find the amount of money per month can be withdrawn for 20 years.

Q: At the end of each quarter, David deposits $300 into a savings account that earns 3.92% interest…

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Q: Your parents invest $10,000 in a coll fund when you are born. They find a fund that will return 8%…

A: please refer to the image below.

Q: 13. Juan borrowed $27,000 from a bank to purchase a car. If he borrows the money at 4.15% interest…

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Q: Sydney buys a new car for $24,000 and finances the car for 5 years at 2.5% interest compounded…

A: Sydney buys a new car for $24,000 and finances the car for 5 years at 2.5% interest compounded…

Q: A bank offers a CD that pays a simple interest rate of 9.5%. How much must you put in this CD now in…

A: We will find out the required value.

Q: Which account is a better investment? An account earning 6% simple interest An account earning 5.4%…

A: Let principle amount be $1000 on which interest is calculated. Also let time period be 1 year. Now,…

Q: All changes sved 1. Ashlev earned $1, 200 and saved 15% of it. If she invested the amount she saved…

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Q: MY NOTES ASK YOUR TEACHER You want to retire at age 65. You decide to make a deposit to yourself at…

A: The solution is given below

Q: Joud deposited $1,650 in an investment account that earns 5% simple interest rate every year. On the…

A: Interest calculation problem.....

Q: Sam invests $2,000 in an account with an interest rate of 6.7% compounded annually for 3 years. What…

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Q: 31 82 Q3: June Cleaver needs $2,000 in 7 years' time so she can enroll in a review course in…

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Q: At what simple interest rate will a sum of money triple itself in 15 years? A 13.33% B 3.33% 6.67%…

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Q: You deposit $2000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given:    A = 2000    t = 10   r = 5% = 5/100 = 0.05  Compound Monthly : n = 12

Q: 7) You deposit $2500 in an account that pays 6% nominal interest compounded monthly. How much will…

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Q: You currently have $3,700 (Present Value) in an account that has an interest rate of 5.5% per year…

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Q: Dr. Kershaw invests $25,000. She earns 10.0% simple annual interest on her investment. How much more…

A: $ 0 would Dr. Kershaw earn after 2years if her investment had earned 10% annual interest compounded…

Q: Liz decides to save money to buy an electric car. She invests $500 every 6 months at 6.8% per annum…

A: This question is based on compounding formula.

Q: You plan to save money for a down payment of $36,000 to purchase an apartment. You can only afford…

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