Jim invests $15,000 today into an account, If the amount in the account accumulates to $17,364.37 at the end of 3 years, what was the interest rate that Jim earned on the account?

Q: Al invested $7,200 in an account that pays 4 percent simple interest. How much money will he have at…

A: We need to use simple interest formula to solve this problem A=P(1+rt) Where A= Final payment…

Q: 2. Emily invests $7646 for 6 years in an account that is compounded monthly at 4.8%. a) How much…

A: The amount deposited in the bank for 6 years and the interest paid monthly to the deposited amount,…

Q: Looking for steps on how to solve it using: y=p(1+r/n)^nt

A: Introduction Future Value The value derived for the money invested today, based on the time value…

Q: Jamie invested a certain amount of money in JDJ Savings Bank with a 2.5% interest rate. He received…

A:

Q: Ali invested 5000 Rials in a saving account that paid quarterly interest. After 6 years the money…

A: Solution: Calculating interest rate using future value and present value.

Q: On March 12, Nada joined a saving account. Her bank will automatically deduct BD 200 from her…

A:

Q: Timothy invests $5,000 at 17% interest compounded daily for three years. How much does he have in…

A: Future value = Present value(1 + Rate)^Time

Q: If Laura invests $1,230.00 in an account earning 2.95% simple interest, how much money will be her…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Interest Earned. On June​ 1, Mia deposited ​$5,500 in an MMDA that pays 3​% interest. On October​…

A: Solution- Amount interest earned by Mia=$5500*3%*7/12+$1400*2.99%*2/12…

Q: 13 years ago, Sallie invested \$23{,}000.00$23,000.00 into a savings account.  She now has…

A: Compounding:  A compounding is the interest charged on interest. When any investment is made for…

Q: Ruth Altidore invested $6,000 at 11% annual interest, and left the money invested without…

A: Under simple interest, the interest is earned only on principal. Under compound interest, interest…

Q: Juan decided to start saving for college.  He deposited $500 into an account that earns 4% simple…

A: Amount deposited = $500 Simple Interest = 4%

Q: On June 30, Jeff, who uses the cash method of accounting, borrowed $25,000 from a bank for use in…

A: Loan is the amount of money that is being borrowed from some person and on which interest payments…

Q: Kerry invests $234 in a savings account that earns 2.1% compounded annually. Andy invests $234 in a…

A: Formulas: Future value = Present value *(1+rate)^years

Q: Ali deposited Rs. 2,500 in an account that pays 6% simple interest. How much money will he have at…

A: Following information is given in the question: Investment today = Rs 2500 Interest rate =6% Time…

Q: Jasper purchased a car for 47,500. He paid a 20% down payment and financed the rest at 2.88 % for 6…

A: Loan is a value which is borrowed from the external sources like banks for a particular period and…

Q: Akbar bought a car on loan and pays the simple interest at 5% amounting to RO 3,000 per annum for 5…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: Mary Joy Dela PAz purchased a house worth 188,686 with a down payment of 36,866 and monthly payments…

A: Given: Particulars Amount Cost of house 188686 Down payment 36866 Years 15 Interest rate…

Q: de to invest $7,500 into an account that pays 1.1% annual compound interest. Write an equation for…

A: Given information : Investment amount = $7500 Interest rate = 1.1% The given question is asking for…

Q: Abigail invested $77,000 in an account paying an interest rate of 8\tfrac{3}{8}883​% compounded…

A: The time value of money has two techniques. The compounding and the present value method. The…

Q: Miss Calledo deposited P 1,000, P 1,500 and P 2,000 at the end of the 2nd year, 3rd year and 4th…

A: Future Value(FV) is worth of current amount at future point that is computed by compounding current…

Q: deem invested $800 in an account that pays 4.25% interest compounded annually. Assuming no deposits…

A: Future value of money includes the original deposit and compound interest on the money.

Q: Justin P. deposited $2000 into an account 5 years ago. Simple interest was paid on the account. He…

A: Simple interest is the type of interest where the interest is charged on the principal amount only.…

Q: Cameron opened an RRSP account and deposited $3,800 into it. He then deposited $800 at the end of…

A: Deposit now = $ 3800 Deposit at the end of year 1 = $ 800 Deposit at the end of year 2 = $ 475…

Q: John Mojico invested her USD 20,000 in a BPI Time Deposit Account earning 2.8% simple interest for 2…

A: Simple interest is referred as the quick as well as easy method for the calculation of the interest…

Q: A woman deposited $10,000 into an account at her credit union. The money was left on deposit for 10…

A: Investment = 10,000 Total Time Period= 10 years First 5 years, 9% interest compounded monthly,…

Q: Teesha left $5,750 in an account that paid 9% interest compounded annually. How much interest was…

A: The future value is the amount that will be received at the end of a certain period. In simple…

Q: Jones invests USD 250.000 in a building society account. At the end of the year her account is…

A: Interest = Principal * Rate of interest * Time

Q: Karen Gaines invested ​$15,000 in a money market account with an interest rate of 2.75​% compounded…

A: Amount invested = $15,000 Interest rate = 2.75% Compounded  semi-annually  Time duration = 4 years

Q: Mohammed deposited RO25,000 in a savings account at 9% interest compounded semi-annually. At the…

A: Future Value = Present Value * (1+r)^nWhere,r = rate of interest per periodn = no. of compounding…

Q: Rose has an opportunity to invest in an income account at 12% compounded continuously. The amounts…

A: given information   interest rate = 12% compounded continously  time period = 8 years

Q: Lucas made a single deposit into a savings account. At the end of saving for 18 years, Lucas has…

A: We need to use continuous compounding formula to solve this problem   A=P(e)rn   where   A=future…

Q: 10. Miss Calledo deposited P 1,000, P 1.500 and P 2,000 at the end of the 2nd year, grd year and 4th…

A: Deposit in year 2 = P 1000 Deposit in year 3 = P 1500 Deposit in year 4 = P 3000 Annual interest…

Q: On May 11, Ali joined a gulf club. His bank will automatically deduct BD 120 from his checking…

A: The future value of a present value is the value of that amount after taking into account the time…

Q: how much more money would Isabella have in her account than Gabriel,

A:

Q: Katy invests a total of $36,000 in two accounts. The first account earned an annual interest rate of…

A: given, total amount invested = $36000 account 1: r=5% account 2: r= 2%

Q: posited Rs. 2,500 in an account that pays 6% simple interest.  How much money will he have at the…

A: Simple interest is interest computed on principal amount only not on interest accrued or accumulated…

Q: Sonny who invested ₱45,800 had ₱82,420 returned to him 4 years and 4 months later. At what interest…

A: Future Value: The future value is the value of annuity or the sum lump amount after a certain period…

Q: Emily invested his savings of $1,625 in a savings account that was earning simple interest at 4.26%…

A: Effective rate is a rate at which interest is received actually and nominal rate is rate which is…

Q: Kia deposited $1,100, at the BEGINNING of each year for 25 years in a credit union account. If the…

A: Annuity means finite no. of payments which are same in size and made in equal intervals for the…

Q: Priya saved for buying a home by making deposits of $1000 at the end of each year for 10 consecutive…

A: FV is the amount of investment value after a certain period

Q: A guy deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year,…

A: Year 2 deposit = P4000 Year 3 deposit = P4500 Year 4 deposit = P5000 Interest rate = 0.09

Q: Melanie invests a total of $7,000 in two accounts paying 6% and 7% annual interest, respectively.…

A: A given sum of money can be invested in various sources to achieve maximum returns.

Q: Biff deposited $9,000 in a bank account, and 10 years later he closed out the account, which is…

A: In this question we require to calculate the annual interest rate on deposit by the bank. Deposit…

Q: ohn invests a sum of money in a retirement account with a fixed annual interest rate of 2.63%…

A: The formula for computing present value:

Q: Find Joe's monthly payment.

A: A loan re-payment is summation of principal loan amount and interest.  Annuity is the payment of…

Q: Dave deposited P4,000, P4,500 and P5,000 at the end of the 2nd year, 3rd year and 4th year,…

A: Interest rate = 0.08 Year Deposit 2 4000 3 4500 4 5000