Jim places $10,000 in a bank account that pays 5.8% compounded continuously. After 2 years, will he have enough money to buy a car that costs $11,243? If another bank will pay Jim 6% compounded semiannually, is this a better deal? After 2 years, Jim will have $ (Round to the nearest cent as needed.)

Q: A company needs $7,000,000 in 10 years in order to expand their factory. How much should the company…

A:

Q: An amount of $23,000 is borrowed for 14 years at 6.75% Interest, compounded annually. If the loan is…

A:

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

A:

Q: If you have $5000,00 to invest a rate of 3.5% compounded monthly, how long would it take to save…

A: Given investment(P) = $5,000.00 interest rate(r) = 3.5% per annum Final amount(A) = $15,000.00 The…

Q: You have $10,000 in a bank. If you get 4% compounded monthly and withdraw $400 at the end of each…

A: You have $10,000 in a bank. If you get 4% compounded monthly and withdraw $400 at the end of each…

Q: How many years are required for your money to triple if it is invested at 9% compounded? a. annually…

A:

Q: Grace invested $5,200 in an account paying an interest rate of 4.6% compounded daily. Assuming no…

A: Given; Principal,P=$5200 Time,t=11 years Rate,r=4.6% compounded daily.

Q: If $1,000 is invested at 8% compounded (A) annually; (B) semiannually; (C) quarterly; (D) monthly;…

A:

Q: How much money will be in your account three years after the previous deposit? If you make six…

A: The given data is: P=$2000 r=10%t=3 years Given that compounded semi-annually, therefore Interest…

Q: Levi invested $5,300 in an account paying an interest rate of 2.4% compounded daily. Assuming no…

A: topic - exponents

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

A:

Q: A recent college graduate with $24, 000 in student loans decides to leave the country without making…

A: The student loan is $24,000. If the interest rate on those student loans was 9% compounded daily,…

Q: If you deposit $300 each quarter into an account earning 3.2% compounded quarterly, how many years…

A: The future value (FV) of an annuity A with interest rate per period of r, over n periods is given…

Q: If you invest $150 each month into an account earning 3% compounded monthly, how long will it take…

A: Here the required formula is given by,                                 A=d1+rnnt-1rn           ...…

Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

Q: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

A:

Q: Mr. Gordon plans to invest $600 at the end of each month in an account that pays 6%, compounded…

A:

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: Hannah deposits OMR 500 in an account earning 5% compounded half yearly. What will be the interest…

A:

Q: If money is worth 4 % compounded monthly, what payment at the end of each quarter will replace…

A: The value of r compounded monthly , r=4% compounded monthly=412%  Number of months in each quarter =…

Q: A newborn child receives a $20,000 gift toward a college education from her grandparents. How much…

A: Given that  A baby recives 20000 Interest rate is 7% for 17 years  To find the amount will receive…

Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

Q: Jayden invested $65,000 in an account paying an interest rate of 2.1% compounded quarterly. Assuming…

A:

Q: Carter invested $16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming…

A:

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: A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=300 r=9%=0.09 t=4 years…

Q: How much will you get out after 12 years if you put away 1800 at 6% compounded monthly?

A:

Q: If Frank invests $11,400 at 3.7% interest compounded quarterly, how much will his investment be…

A:

Q: If you invest $3000 at 5% compounded quarterly, how long will it take the account to double in time?…

A: P=3000,  r=5%=0.05,  n=4

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

A:

Q: At the time of her grandson's birth, a grandmother deposits $11,000 in an account that pays 6%…

A: At the child's 21 st  birthday total amount in account will be $

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

A:

Q: Nathan invested $3,500 in an account paying an interest rate of 3.5% compounded quarterly. Assuming…

A: Initial amount=P= 3500  Final amount=A=? Time= t=19 years  Interest rate=r= 3.5%= 0.035  Number of…

Q: If you invest $1000 at 4.5% compounded monthly, how lomg will it take the account to get to $5000?…

A: Given that If you invest $1000 at 4.5% compounded monthly, how long will it take the account to get…

Q: Oliver invested $53,000 in an account paying an interest rate of 2.7% compounded daily. Assuming no…

A: Given P=53,000R=2.7%t=20 yearsWe know that compound interest=P(1+Rm)mt Here m is the no.of…

Q: A newborn child receives a $7,000 gift toward a college education from her granparents. How much the…

A:

Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

A:

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: Kevin invested $2,500 in an account paying an interest rate of 2.7% compounded daily. Assuming no…

A:

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

A:

Q: A loan of $47,000 is made at 6.75% interest, compounded annually. After how many years will the…

A: The principal amount of loan is $47000. The rate of interest per year is 6.75%. The amount with…

Q: If you invest $1000 at 4.5% compounded monthly, how long will it take the account to get to $5000?…

A: Let it takes t time to get that amount  Use the compound interest formula Since it is compounded…

Q: If a bank pays 18% compounded monthly, how much should be deposited now to have $2000 : a) 6 years…

A:

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: Sarah invested $3,800 in an account paying an interest rate of 3.6% compounded daily. Assuming no…

A: Given:  Sarah invested $3800 in an account paying an interest rate of 3.6% compounded daily.  To…

Q: Madison invested $3,300 in an account paying an interest rate of 6.7% compounded daily. Assuming no…

A: The given data is: Medison invested P=$3300 Rate of interest R=6.7% Time t=5 years To find the…

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

A:

Q: If $18,000 is invested at 6% compounded monthly, what is the amount after 5 years?

A: Answer to question 1. The principal amount is, P = $18,000. The interest rate is r = 6%. The number…