Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of withdrawing any amount in the future. How much money will he save after 18 years?

Q: A man needed P250, 000 at the end of 3 years, how much money must he deposit quarterly in an…

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Q: Melanie invests $13,000 at 13% simple interest for 1 year. How much is in the account at the end of…

A: Substitute 13000 for P, 13% for r and 1 year for t in the simple interest formula I=Prt and…

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

A: topic- compound interest

Q: A recent college graduate moves back in with their parents and invests their entire first-year…

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

A: The amount earned when P amount is invested in a scheme offering compound interest at a rate of r%…

Q: Audrey deposited $12,000 into an account paying 5% interest compounded twice a year. How long will…

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Q: in order to start a small business a student takes out a simple interest loan for $4000 for nine…

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Q: Lupita deposited $5,000 into a savings account that earns 2% interest compounded annually. Rounded…

A: We are given with the interest rate and time duration and the initial payment and we have to find…

Q: A math teacher won a lottery that pays $1,000 per month for the next 20 years. But, he prefers to…

A: To find out the amount that the teacher will accept now.

Q: Jules deposits P15,000 every 3 months in a fund that earns 5% compounded quarterly. Assuming that…

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Q: To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16 years.…

A: Given that, To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16…

Q: If you deposit $300 now in a savings account and increase your deposits by 10% each month, how much…

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Q: Michelle Payne deposited $12,000 in a savings account paying 6.25% simple interest. How long (in…

A: Let it will take t years to be a amount of $12,000 deposited in a accountunit 6.25%.Simple interest…

Q: Springfield Florist plans to replace its delivery vehicle in three years. If they set aside $16,000…

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Q: Kira borrowed $8000 at a rate of 7%, compounded annually. Assuming she makes no payments, how much…

A: kira borrowed $8000 at a rate of 7%, compounded annually.how much money after 7 years.

Q: Christine contributes $ 100 each month to her 401K account. To the nearest dollar, what will…

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Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $6,000 each year…

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Q: If you make $400 in simple interest on an investment at 8% for 5 years, what is the amount of the…

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Q: For her 1st birthday, Ruth's grandparents invested $1200 in an 18-year certificate for her that pays…

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Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How much money will be…

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Q: Margo borrows $1900, agreeing to pay it back with 5% annual interest after 11 months. How much…

A: Given data, Borrowed amount (P) = $1900 Annual Interest (R) = 5% = 0.05 Time (T) = 16 months = 11/12…

Q: Jessica would like to have $36,000 to buy a new car in 9 years. To accumulate 36,000 in 9 years, how…

A: We have to find that how much would Jessica need to invest monthly in a sinking fund with 6%…

Q: If Damon invests $1600 for 1 year in a savings account that pays a simple interest rate of 1.09%…

A: Definition used -            Simple interest -                            SI=Prt100…

Q: Jamie wants a new smart/TV sound system that cost $1,250. He does not have that much in cash to…

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Q: Professor Beatrice Kuhl invests $7,500 at 4.5% interest.  How much money will she have at the end of…

A: the given principal value P = $ 7,500 interest rate r = 4.5% for time t = 6 years

Q: Bo won $10,000 on a scratch-off lottery ticket. In five years, he wants to buy a new bass boat that…

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Q: 2. Simone bought her house for $150,000 in 2000 and sold it for $725,000 in 2020. What are the total…

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Q: interest and agreed to pay it off over a 2 year period, how much would your monthly payment be?

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Q: Rob has 100,000. Invested into a fund that adds 5% per year.  How much will he have in 20 years…

A: Given: Initial amount=100,000 Increasing amount=5% of ininitial amount Time = 20 years

Q: Your paycheck each week is $500.00. If you want to save $2000.00 in one year, how much should you…

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Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How many years will it…

A: Formula: Simple interest                    SI=PTR100            Where SI- Simple interest…

Q: Susie is paying $531.8 every month for her $150,000 mortgage. If this is a 30 year mortgage, how…

A: Consider the given question,Total mortgage = $150,000 Monthly payment of Susie = $531.8Total time of…

Q: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…

Q: Jacob invests $14,000 in an account that compounds interest quarterly and earns 4%. How long will it…

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Q: Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded annually, how…

A: Compound interest

Q: Jason started to deposit P20,000 quarterly in a fund that pays 2% compounded quarterly. How much…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

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: An account that yields 6% simple interest annually has $2,000. How much will be in the account after…

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Q: Jackie has a saving account that promises to increase her balance by 1.5% per year. If she deposits…

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Q: With 1500.00 I opened a savings account in a bank that offered me a monthly interest rate of 0.5%.…

A: Given: P = $1500.00, r = 0.5% p.m., n = 12

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 decide to invest $2500 at 5% annual interest rate every year, how much would you have in your…

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Q: Johnny borrowed 15,000 from a lending company with annual simple interest rate of 9.5%. If hhe had…

A: The formula for the amount of simple interest after t years is: A=P+Prt100 Here, P is the principal…

Q: Jill has a loan of $1600 . If she is charged 2% simple interest per month, how much interest is she…

A: The formula to calculate the amount on simple interest is given below: A=P(1+rt) where, A is the…

Q: nd the savings plan balance after 3 years with an APR of 4% and monthly deposits of $400

A: Given that: Monthly deposit = $400 Time = 3 years APR = 4% To determine the balance after 3 years.

Q: A man invested 50,000 in an investment entity that pays 5 3/8 % simple interest for 3 years and 7…

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Q: For their newborn child, parents deposit $10,000 in a college account that pays 8% interest,…

A: We will use the compound interest formula to find the amount after 17 years

Q: You borrow $4,000 for one year from a friend at an interest rate of 1.5% per month instead of taking…

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