Jodie deposited $10,000 into an account paying 6.5% interest, compounded quarterly.  She needs to have $15,000 as a down payment for a house.  How long will it take Jodie to earn her desired down payment?

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: How much did Speedy Movers borrow for a debt that accumulated to $51,238.44 in four years? The…

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Q: Regina wants to have$280,000 in 20 years to buy a vacation home. To reach this amount, how much…

A: Consider the given information. The total amount after 20 years is $280,000. The total number of…

Q: Gertrude wants to make $500 monthly withdrawals for 10 years from an account which pays 4%…

A: Given Information: Gertrude wants to make $500 monthly withdrawals for 10 years from an account…

Q: Shawn made equal deposits at the beginning of every 3 months into an RRSP. At the end of 10 years,…

A: Let quarterly deposits be x  Interest rate = 2.2512%=0.001875  Time = 10 years Period n = 10 x 12 =…

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

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Q: Alan deposited $6000 into an account with a 5% annual interest rate, compounded semiannually.…

A: A(t)=P1+rnntP is the deposited amountr is the ratet is the timeA is the amount after time ,t

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

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Q: Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded…

A: Given information Paying every 3 months P=2,500 Interest rate r=8% compounded quarterly For…

Q: The Nelsons would like to take a cruise to Alaska in 5 years and will need $9,350. What amount…

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Q: Austin invested $200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no…

A: Austin invested $200 in an account paying an interest rate of 6.1% compounded quartely.

Q: David borrowed $8000 at a rate of 14%, compounded quarterly. Assuming he makes no payments, how much…

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Q: Curtis invested $4200 into an account that pays 1% interest compounded annually. How much money…

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Q: If you borrowed $200,000 to buy a house at 6% interest per year, compounded monthlyand paid back the…

A: Time =t= 30 years Compounded monthly , so n=number of times compounded in a year= 12interest rate =…

Q: paying 15.5%

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

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Q: If you finance $15,000 for 3 years at 6% compounded monthly, the monthly payments will be…

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Q: A television set is for sale at P13, 499 in cash or in installment terms, P2,500 each month for the…

A:

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: Robin wishes to accumulate a sum of $450,000 in a retirement account by the time of her retirement…

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Q: Find the amount Erica owes at the end of 2 years if $6000 is loaned to her at a rate of 4%…

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Q: Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for…

A: Adam wishes to have $20,000 available in 18 years to purchase a new car for his son as a gift for…

Q: Karl buys a $2500 investment certificate that pays 3.75% simple interest per year. How much more…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How…

A: Initial deposite= P= 2000 Final amount=A=? Time=t= 4 years  Interest rate = 5.8%=0.058  Number of…

Q: How much interest will Roxanne have to pay if she borrows $2000 for 2 yr at a simple interest rate…

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Q: Leo needs $30,000 to cover

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Q: A service car whose cash price was P540,000 was bought with a down payment of P162,000 and a monthly…

A: Consider the given information.

Q: Russell invested 50,000 pesos in a bank that pays 8% compounded quarterly for 5 years. How much is…

A: We used the formula A=P(1+r/n)^(nt)

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: Jose borrowed $8000 at a rate of 12.5%, compounded annually. Assuming he makes no payments, how much…

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Q: A man buys a motor vehicle for $50,000.  if the interest rate on the loan is 12% compounded monthly…

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Q: What is the purchase price on a car that has a $264 monthly payment for 5 years, financed at 8% per…

A: The purchase of a car that has a $264 monthly payment for 5 years, financed at 8% per year,…

Q: Lucy invested for 15 years at 2.8%, compounded annually and ended with an account balance of $2250.…

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Q: Jim financed the purchase of a new car. If the loan had an annual rate of 3.25% compounded annually…

A: By using formula we solve the given problem as follows :

Q: Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2…

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Q: Inga Moffitt invests a bonus of $9000 at 6% annual interest compounded semiannually for4 years. How…

A: P=$9000,  r=6%=0.06,  t=4  &  n=2 Now total amount earned is,…

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: Sophie owes Sam P75,000.00 due in one year and P225,000.00 due in 4 years. She agrees to pay…

A: The effective annual interest is calculated using the formula Effective Annual interest Rate=1+inn-1…

Q: Maria is paying off a loan by making $50 payments at the beginning of every month for 2 years, at…

A: The formula to calculate the amount to be paid after a loan of P amount is taken at the rate of r%…

Q: Elysa bought a car priced at $8942 for 12% down and equal semi-annual payments for 4 years. If…

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Q: Martina borrowed $8000 at a rate of 6%, compounded quarterly. Assuming she makes no payments, how…

A: Amount = P(1+r/n×100)nt

Q: You deposited $7000 in an investment fund that pays 5.5% per year, compounded quarterly. How much…

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Q: Ken is paying off a loan by making a $50 down payment and then $50 payments at the end of every…

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Q: One month from now, Kelly will make her first monthly contribution of $250 to a tax free savings…

A: Given information Monthly deposit PMT=$250 Future value FV=$55,000 Rate of interest is r=6%…

Q: How many months would it take you to repay a $ 5225 loan by making payments of $ 57 at the end of…

A: The formula for computing the number of years required to pay off a loan when payment is made at the…

Q: After graduating with a master's degree, Naomi combined all of her student loans into a single loan…

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Q: What is the purchase price on a car that has a $350 monthly payment for five years, financed at 6%…

A: Given query is to find the purchase price of the car.

Q: Rahel left a $5000 investment for 3 years in an account that paid 4% per year, compounded…

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Q: You can afford monthly deposits of $260 into an account that pays 3.6% compounded monthly. How long…

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