Jim borrows $400 at 3% per annum compounded quarterly for 2 years. Determine the interest due on the loan. Interest due = $

Q: Marcus receives an inheritance of $10,000. He decides to invest this money in a 14-year certificate…

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Q: You deposit $100 each month into an account earning 6.3% interest compounded monthly for 30 years.…

A: Here given  Principle amount P=$100 rate r=6.3% time t=30 years,

Q: Calculate the simple interest earned. Round to the nearest cent. P = $5000, r = 3.3%, t = 22 days

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Q: Eight thousand dollars has to be invested for ten years. For each option below, calculate the…

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Q: You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Solution-  P = $5000 r = 5% or 0.05 t = 15 years n = 12 ( compounding monthly) Formula is given by…

Q: "Shelly deposits the $2,000 she got as a birthday gift from her grandmother into an account earning…

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Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: Calculate the compound amount for P = $1500 , r = 6.25% , compounded quarterly for 5 years.

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Q: You deposit $6000 in an account earnings 3% interest compounded monthly. How much will you have in…

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Q: You deposit $400 in an account earning 4% interest compounded annually. How much will you have in…

A: Given: Deposited amount  P0=400           Interest R=4%           Compounded anually n=1…

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

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Q: Jayden deposits a total of $800 into his savings accor account earns 2% interest compounded…

A: Introduction: The formula of the compound interest is given by, A=P1+rnnt Where P is the principle…

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

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Q: Marcus receives an inheritance of ​$15,500. He decides to invest this money in a ​16-year…

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Q: Find the ending balance: $30,000 for 5.5 years at 6% annual compound interest

A: Final amount formula for compound interest is, A=P1+rnnt A- final amountP- Principal amountr- Rate…

Q: You deposit $100 monthly in a saving plan with APR of 6% for 20 years.  How much would your…

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

A: The expression used to evaluate the amount in compound interest is as follows: Amount =P1+r100nnt,…

Q: accumulate enough money for a down payment on a house, a couple deposits $597 per month into an…

A: We will find out the required value.

Q: Marcus receives an inheritance of $2,000. He decides to invest this money in a 14-year certificate…

A:

Q: Shelby received a 15 year loan of $250,000 to purchase a house. The interest rate on the loan was…

A: Note: Hi thank you for your question. As per the guidelines we are solving the first question as…

Q: You deposit $500 each month for 15 years into an account earning 6% interest compounded monthly.…

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Q: Alex deposits $6,000 at the end of each year for 12 years in an account paying 6% interest…

A: Use compound interest formula.

Q: Mckenna’s family bought a cottage and now have a mortgage in the amount of $78 000. They will repay…

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Q: You deposit $400 in an account earning 7% interest compounded annually. How much will you have in…

A: Given  Principal P=400 Rate of interest r=7% year t=10 number of compounded n=1 we know that…

Q: You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…

A:

Q: teach

A: Given, A teacher saves P5,000 every 6 months in the bank that pays 0.25% compounded monthly.

Q: Down Payment To start a new business, Beth deposits $1000 at the end of each 6-month period in…

A: Given: Deposits at 6 month period=$1000Rate of interest compounded semiannualy=8%Total time period=8…

Q: You deposit $2000 in an account earning 3% interest compounded monthly. How much will you have in…

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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: You deposit $600 in an account earning 6% interest compounded annually. How much will you have in…

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Q: Duncan opened a savings account and deposited $200.00 as principal. The account earns 7% interest,…

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Q: You deposit $4000 in an account earning 6% interest compounded monthly. How much will you have in…

A: Compound interest formula is A=P1+rnnt A = final amountP = initial principal balancer = interest…

Q: You deposit $400 in an account earning 4% interest compounded annually. How much will you have in…

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Q: How much interest will this account earn, if compound interest is calculated yearly? Principal =…

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Q: Laura saves ​$27 at the end of each week and deposits the money in an account paying 9%…

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Q: You deposit $6000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given: The amount $4000 deposit in an account with rate of interest 5.1%, compounded monthly for 7…

Q: Find the ending balance: $21,000 for 9 years at 8.8% annual compound interest

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Q: You deposit $4000 in an account earning 8% interest compounded monthly. How much will you have in…

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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: A youth sports league receives a ​$30,000 donation for building a new snack bar and office building.…

A: A=P1+rnntFor quarterly, n=4

Q: You deposit $600 in an account earning 7% interest compounded annually. How much will you have in…

A: Initial amount=P= 600 Interest rate= r= 7%=0.07  Time=t= 20 years Number of times compounded in a…

Q: You deposit $4000 in an account earning 6% interest compounded monthly. How much will you have in…

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Q: Lynn Ally, owner of a local subway shop, loaned 62,000 to Pete hall to help him open a subway…

A: Given that Lynn Ally, owner of a local subway shop, loaned 62,000 to Pete hall to help him open a…

Q: You take out a 7 month, $2,000 loan at 8% annual simple interest. How much would you owe at the end…

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Q: Peter opens a bank account with $ 12,800. The interest rate is 7% % compounded quarterly. Calculate…

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Q: You deposit $2000 in an account earning 4% interest compounded monthly. How much will you have in…

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Q: You deposit $300 each month into an account earning 6% interest compounded monthly. How much money…

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Q: How much would you need to deposit in an account now to have $3,000 in the account in 5 years?…

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Q: You deposit $3000 in an account earning 4% interest compounded monthly. How much will you have in…

A: Here we can use formula to get required account status

Q: At the start of each month you put $100 into an account that pays 6%, compounded monthly. After 10…

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