Jeremy invested his savings in a bank at 5.00% compounded monthly. How much money did he invest to enable withdrawals of $4,500 every 6 months from the investment for 6 years, if the first withdrawal is to be made in 10 years?

Q: Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel…

A: for both Jackson and Angel , P is $81,000. now Time is 16 years. for Jackson Rate, r is 6.5% which…

Q: Mr. Gordon plans to invest $200 at the end of each month in an account that pays 9%, compounded…

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Q: Gallant invests starting at age 25 until he retires at age 65. If he invests $2400 each yearat 9.6%…

A: J

Q: Isaiah is going to invest $94,000 and leave it in an account for 16 years.Assuming the interest is…

A: Isaiah is going to invest $94,000 and leave it in an account for 16 years. The interest is…

Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

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Q: A newborn child receives a $5,000 gift toward a college education from her grandparents. How much…

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Q: Beck would like to be a millionaire in 35 years. How much would she need to invest quarterly in a…

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Q: How much more would you earn in the first investment than in the se $47,000 invested for 40 years at…

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Q: Austin invested $200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no…

A: Austin invested $200 in an account paying an interest rate of 6.1% compounded quartely.

Q: At age twenty six , Dick shoemaker desposited 2,000 into an IRA , where it earns 3% compounded…

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Q: Reynaldo deposits 20,000 in a bank at an interesta rate of 6% If it’s compounded annually, how…

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Q: Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If…

A: The amount he invested for new car is:  P = $18,000 Interest rate:  r = 4.9% Interest is compounded…

Q: Sam deposits $900 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: Given data:   The given amount Sam deposits are P=$900. The semiannual interest rate is r=7%=0.07.…

Q: If you invested $10,000 at 9% interest, compounded quarterly, then how much would this investment be…

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Q: Jeremiah invested $70,000 in an account paying an interest rate of 6.8% compounded daily. Assuming…

A: A=$99000  P=$ 70000 r=6.8%=0.068 n=365 ( compounded daily)

Q: A deposit of $3, 000 earns 2% interest compounded semiannually. How much money is in the bank after…

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Q: Matilda and Horace open a retirement account with $120,000. How many years will it take for the…

A: Find the time taken for the amount $120,000 to grow to $800,000 if it grows at a rate of 4.5%…

Q: Warren has $40 in a savings account that earns 10% interest, compounded annually. To the nearest…

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Q: Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for…

A: Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for…

Q: Karl buys a $2500 investment certificate that pays 3.75% simple interest per year. How much more…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: venture promises a 7% annual interest rate compounded once a year. For how many years should Roger…

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Q: 3. Francisco invest $10,500 at a annual rate of 6% compounded monthly per year. How much money will…

A: Given, P=$10,500 r=6% t=8 years Compounded monthly

Q: Abigail invested $77,000 in an account paying an interest rate of 8% compounded annually. Gavin…

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Q: Approximately how much money would Manny have if he invested $1,200 at an interest rate of 5% for 7…

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Q: Ms. Roberts decided to invest some money in an insurance company with an interest rate of 9%…

A: Given that interest rate is 9%. The formula for calculating compound interest is given by, A= P(1+…

Q: If Gabriel wants to accumulate $ 20,000 in 6 years to buy a car, how much would he need to invest…

A: The compound interest formula is A = P1 + rnnt In the formula, A = Accrued amount (principal +…

Q: How much did Speedy Movers borrow for a debt that accumulated to $56,036.80 in five years? The…

A: We need to find the amount that Speedy Movers borrow for a debt that accumulated to $ 56036.80 in…

Q: A payment of $1500 is due in three months. Find the equivalent value at nine months if the interest…

A: Given interest rate is 4% compounded quarterly. F.V=P.V(1+r/k)nk Here, F.V= Future value P.V=Present…

Q: . Shirl started to deposit P18,000 semi-annually in a fund that pays 5%E compounded semi-annually.…

A: Given query is to find the amount wccumy after 10 years.

Q: Jason thinks he can save enough to deposit P1,200 in the bank at the end of each year for the next…

A: The future value of an annuity is given by FV=PMT×1+in-1iWhereFV=future value of annuityPMT=cash…

Q: Ariana is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much…

A: r=3.7%  A=$25000 t=14 years  n=12 (compounded monthly)

Q: At the birth of their child, how much should a couple invest to have $20,000 on the child's 18-th…

A: The principal investment required to get a total amount of $20,000.00 from compound interest at a…

Q: Kayla invested $88,000 in an account paying an interest rate of 8% compounded daily. Sadie invested…

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Q: Riley invested $5,100 in an account paying an interest rate of 7-% compounded quarterly. Ryan…

A: Use the formula A=P1+rnnt. Where P is the principle amount, r is the rate of interest, n is number…

Q: A company needs $3,600,000 in order to expand their factory how much should the company invest each…

A: Given, FV=$3600000 r=9.4%/52 n=52×14

Q: Preston has $8,000 in a savings account. The interest rate is 4%, compounded annually. To the…

A: We have to find compound interest.

Q: Dylan invested $700 in an account paying an interest rate of 1 % compounded quarterly. Sebastian…

A: Given: Dylan:Invested amount=$700Interest rate=134%Number of conversions=compounded…

Q: Shawn invested $130 at the end of every month into an RRSP for 13 years. If the RRSP was growing at…

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Q: John buys a stereo system for $640. He agrees to pay $32 a month for 2 years. Assuming that interest…

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Q: If you have $5000.00 to invest at a rate of 3.5% compounded monthly, how long would it take to save…

A: The savings obtained by investing an amount P at an interest rate of r % (compounded monthly) for t…

Q: I want to have $20,000 to buy a car in five years. How much would I have to invest now in a savings…

A: We will use the Compound Interest formula to find the amount you need to invest every year to get…

Q: Find how much Sally would have to invest now at 6.25% compounded quarterly in order to have $15,000…

A: This question is based on compound interest.

Q: Kim borrowed $9,000 at  2  3/8% interest compounded daily.  How much will she have to pay back…

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Q: If you want to accumulate $ 28,000 in 5 years to purchase a car, how much you need to invest today…

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Q: How long it would take to double an invesment if the rate of interest is 10% compounded quarterly?

A: Follow the procedure given below.

Q: Farid placed RM5,000 in a bank account for six years. The bank offered an interest rate of 6%…

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Q: The APR of Bessie's savings account is 6%, and interest is compounded monthly. If the principal in…

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Q: How long would it take to double your money in an account paying 8% compounded quarterly?

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Q: A company needs $4,400,000 in 13 years in order to expand their factory. How much should the company…

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