Jimmy invests $500 in an account with a 3% interest rate, making no other deposits or withdrawals. What will Jimmy's account balance be after 10 years if the interest is compounded 2 times each year? O $173.43 O $580.27 $673.43 $903.06

Q: Brent Pickett borrowed ​$5000 from his brother Dave. He agreed to repay the money at the end of 2…

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Q: A philanthropist wishes to donate an amount of money to an orphanage through an investment in a…

A: It is given that the amount is 15000 php a year and the interest rate is 10% compounded annually.…

Q: Find the final amount of money in an account if $9,300 is deposited at 2.5% interest compounded…

A: Amount after 't' years A = P1 + rnnt

Q: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: To save for her high school graduation, Jenny decided to save P1,250.00 at the end of each month. If…

A: We need to choose correct option.

Q: Find the final amount of money in an account if $3,600$3,600 is deposited at 5.5% interest…

A: Formula:   Final amount=P1+rnnt We have, P=$3,600, r=5.5%=0.055, n=1(since, compounded annually),…

Q: Katie invested an amount of $18,000.00 in a mutual fund. After 4 years and 6 months the accumulated…

A: Use the formula for the compound interest and calculate the rate.

Q: Sam and Katie have a new grandson. How much money should they invest now so that he will have…

A: In this question, we have to find the principal amount that we invest now and after 18 years it will…

Q: Find the amount of money that results if $100 is invested at 4% compounded quarterly for 2 years.

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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: How long will it take money to quadruple if it is invested at the following rates? (A) 4% compounded…

A: We have to find time to quadruple.

Q: Lincoln invested $440 in an account paying an interest rate of 5% compounded continuously. Robert…

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Q: Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly…

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Q: John Lee's savings account has a balance of $716. After 3 years, what will the amount of interest be…

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Q: How much money would you have after 30 years if you deposited $2000 in an account that pays 2%…

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Q: Atticus College predicts that in 14 years it will take $250,000 to attend the college for four years…

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Q: sam deposits 150 in a savings account and earns 6% compounded monthly will she have enough savings…

A: Follow the steps.

Q: Sarah opens an investment account with an initial deposit of $ 1900. She then sets up monthly…

A: Given By using excel function

Q: Mary deposits $20,000 into an account that pays 6% interest per year, compounded annually. Josh…

A: Given that  Mary deposited amount =  $20,000  Interest per year = 6% = 0.06 Interest type = Compound…

Q: Sam and katie have a new grandson. how much money should they invest now so that he will have…

A: The compound interest formula is,

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

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Q: A recent college graduate's gift from her grandparents is $23,000. How much will this provide at the…

A: NOTE: Refresh your page if you can't see any equations. . here we have L=23000 r=5.4%=0.054 t=12…

Q: Brad invests $6,700.00 in an account paying 6% compounded monthly. How much is in the account after…

A: Given that Brad invests $6700.00 in an account paying 6% compounded monthly. Find how much is in the…

Q: Ms. Cruz borrowed P50, 000 and repaid it 5 years later. If money earns interest at16% compounded…

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Q: Jesse and Tatiana have a new grandson. How much money should they invest now so that he will have…

A: Future Value:  F.V. = $ 54,000 Total time period: n = 18 years Interest Rate: r = 6.25 % = 0.0625…

Q: Lee put $10,000 into a stock market index mutual fund that grew at an average of 7% per year for 10…

A: Lee put $10,000 into a stock market index mutual fund that grew at an average of 7% per year for 10…

Q: Julia wants to have $5,000 in 10 years after investing in an account that earns 4.2% compounded…

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Q: Springfield florist plans to replace it's delivery vehicle in three years . If they set aside $16000…

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Q: How much will you have in an account after 25 years if you put $1900 per month in the account earns…

A: Amount after t years on investing Principal amount of $P in an account with R% of rate of interest…

Q: Jeffrey invested the profit of his business in an investment fund that was earning 3.50% compounded…

A: Given that Jeffrey invested the profit of his business in an investment fund that was earning 3.50%…

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: Sumi Kato's savings account has a balance of $1292. After 12 years what will the amount of interest…

A: Compound interest formula

Q: You deposit $3000 each year into an account earning 4% interest compounded annually. How much will…

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Q: You deposit $4000 each year into an account earning 6% interest

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

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Q: Jesse and Kendra have a new grandson. How much money should they invest now so that he will have…

A:

Q: You deposit $2000 each year into an account earning 2% interest compounded annually. How much will…

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Q: loan of $12,000 is made at 6% interest, compounded annually. After how many years will the amount…

A:

Q: Glory deposited the sum of $50000 in a bank account after 5 months she made another deposit of…

A: The solution are as follows

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 need to borrow $20000 and will pay it all back in a lump sum in 6 years. Of the two loan options…

A: Loan A is the best loan between these two loans . Loan A will save more money to us than loan b.…

Q: Amy, who is 25, deposits $400 every 3 months into an account that earns 3.66 compounded quarterly.…

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Q: Find the final amount of money in an account if $3,600 is deposited at 5.5% interest compounded…

A: Formula:   Final amount=P1+rnnt We have P=$3,600, r=5.5%=0.055, n=1(since, compounded annually), t=7…

Q: To start a new business Beth deposits $1500 at the end of each period in an account that pays 9%,…

A: here we will find future value of ordinary annuity,

Q: Find the final amount of money in an account if $1, 900 is deposited at 2 % interest compounded…

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Q: Nicole deposited $4,400 into a savings account earning 6% interest compounded quarterly. If she…

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Q: Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded annually. At the…

A: Here, given that Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded…

Q: A grandparent puts $4,000 into a college education fund for a grandchild. If the fund earns 3.75%…

A: While calculating compound interest, the addition of interest to the principal sum of a loan or a…