Jerome will be buying a used car for $11,000 in 2 years. How much money should he ask his parents for now so that, if he invests it at 8% compounded continuously, he will have enough to buy the car? Jerome should ask for $. (Round to the nearest cent as needed.)

Q: Charlie invests $11000 into a savings account that grows at an interest rate of 4.5% per year. (a)…

A: Given that, the investment P=$11,000 , interest rate r=4.5% number of years t=12 and number of times…

Q: How long (in years and months) will it take for an investment to double at 4% compounded monthly?…

A: The explanation has been given in the attached file.

Q: Lisa McNeil needs to choose between two invest- ments: One pays 6% compounded annually, and the…

A:

Q: Jerome will be buying a used car for $15,000 in 3 years. How much money should he ask his parents…

A: Given, Future value  A=$15,000           Interest r=0.05           Time t=3 To find the Present…

Q: b. Mr. Jasim is planning to buy a house. He wants to invest 309 R.O now and hopes to have double…

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Q: Barbara knows that she will need to buy a new car in 4 years. The car will cost $15,000 by then. How…

A: Given that t=time=4 yearsr=interest rate=2%=0.02A=annuity=$15000n=number of times compounded in a…

Q: Cindy plans to invest for 10 years at 1.5%, compounded annually. If she hopes to have $10,000 after…

A: Consider the following information: AmountA=$10,000Rate of interestr=1.5⁒n=1Time periodt=10 years…

Q: How much more will an investment of $10,000 be worth after 25 years if it earns 6% compounded…

A: To find- How much more will an investment of $10,000 be worth after 25 years if it earns 6%…

Q: Tom wants to have $6000 in three years .at 4.75% interest compounded monthly how much does he need…

A: used formula : A=P(1+ r/n )nt   where A=final amount  P=principal or initial amount r=annual…

Q: How many months will it take for a $4000 to grow into $5600 if money can earn 6% p.a. compounded…

A:

Q: Brandon invested $41,000 in an account paying an interest rate of 3 % compounded continuously. Evan…

A: Formula for simple compound interest where P is principal amount            r is interest rate…

Q: Jerome will be buying a used car for $6,000 in 2 years. How much money should he ask his parents for…

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Q: To have $4400 in 4 years, how much do you need to invest now at 7.4% compounded semi- annually?

A:

Q: You have saved $7,000 towards the purchase of a car costing $9,000. How long will the $7,000 have to…

A: solution of the given problem is below ...

Q: If you invest $2090 compounded annually at 9.2%, how long will it take to double your investment?…

A:

Q: Malcolm invests $50 000 at an interest rate of 7 % compounded monthly. Laura invests $ 40 000 at…

A: Malcon invests $50,000 at an interest rate of 7% compounded monthlyLaura invests $40,000 at 9.5…

Q: A principal of $1500 is invested at 3% interest, compounded annually. How much will the investment…

A:

Q: Peyton is going to invest $310 and leave it in an account for 16 years. Assuming the interest is…

A: Principal amount:  P = $ 310 Total time period is: t = 16 years Interest is compounded quarterly.…

Q: n wants to buy a new sports car, and he estimates that he'll need to make a $4,550.00 down payment…

A: The amount invested to buy a new sports car is given by, A=Pert Here, A=amount invested is $4550.…

Q: Jocelyn invested $56,000 in an account paying an interest rate of 7% compounded continuously. Oliver…

A:

Q: Matthew invested $4,700 in an account paying an interest rate of 3% compounded monthly. Peyton…

A: We have to find the difference between the amount received by Matthew and Peyton.

Q: Jerome will be buying a used car for ​$9,000 in 3 years. How much money should he ask his parents…

A: Use compound interest formula.

Q: How much money needs to be invested now to get​ $2000 after 4 years at​ 8% compounded​ quarterly?…

A: Let's find.

Q: To have $12 000 in 25 years, how much do you need to invest now at 6.5% compounded annually?

A:

Q: (a) Martha invests an amount of $10000 at 3.5% compounded quarterly. What is the value of her…

A:

Q: John wants to buy a new sports car, and he estimates that he'll need to make a $4,550.00 down…

A:

Q: mr. Gordon plans to invest $300 at the end of each month in an account that pays 12%, compounded…

A: We use annuity formula.

Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 4%…

A:

Q: If the bank advertises its rate as 6.2% compounded monthly, and another bank advertises its rate as…

A: Given: One bank advertises its rate as 6.2% compounded monthly and another bank advertises its rate…

Q: Lydia is going to invest $210 and leave it in an account for 17 years. Assuming the interest is…

A:

Q: A principal of  $4300  is invested at  4.5%  interest, compounded annually. How much will the…

A: In Compound Interest Amount of principal (P) after 'n' years @ 'r' rate of interest will be A =…

Q: Barbara knows that she will need to buy a new car in 6 years. The car will cost​ $15,000 by then.…

A:

Q: Jerome will be buying a used car for $6,000 in 3 years. How much money should he ask his parents for…

A: Compounding continuously formula:

Q: John wants to have $40,000 in cash four years from now in order to pay for part of his mortgage on…

A:

Q: Jerome will be buying a used car for $7,000 in 2 years. How much money should he ask his parents for…

A: Given:

Q: A couple needs $60,000 as a down payment for a home. If they invest the $45,000 they have at 4%…

A: Given: The initial investment is $45,000, rate of interest is 4% means 0.04, interest rate is…

Q: Joshua invested $99,000 in an account paying an interest rate of 4÷% compounded continuously.…

A:

Q: Jim places $1000 in a bank account that pays 5.6% compounded continuously. After 1 year, will he…

A: compounded continuouslyA=P ertcompound interestA=P1+rnnt

Q: Joshua invested $99,000 in an account paying an interest rate of 4,% compounded continuously.…

A: Given Joshua invested $99,000 in an account paying an interest rate of 412% compounded continously…

Q: What annual interest rate would allow Karen to double her investment if it is compounded quarterly…

A: The compound interest formula for an initial amount P deposited for a time period of t at a rate of…

Q: Jerome will be buying a used car for ​$8,000 in 3 years. How much money should he ask his parents…

A:

Q: Carly wants to invest $1000 in an account that earns 8% interest, compounded quarterly. How many…

A:

Q: Jerome will be buying a used car for $12,000 in 2 years. How much money should he ask his parents…

A:

Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 12%…

A: THE COMPOUND INTEREST FORMULA Compound interest can be calculated using the formula…

Q: A couple needs $45,000 as a down payment for a home. If they invest the $30,000 they have at 8%…

A:

Q: Sharon Nguyen has $25,000 to invest and believes that she will earn 6% compounded semiannually. Find…

A: Formula for compound interest  A = amount after t years p = initial investment = $ 25000 r =…

Q: When he was 12, Brian put $250 into a savings account with a 2.5% annual interest rate. Now that he…

A:

Q: A couple needs $23,335.13 as a down payment for a home. If they invested the $7,000.00 they have at…

A: