Joe deposits $60,000 into an account that pays 3% interest per year, compounded annually. Salma deposits $60,000 into an account that also pays 3% per year. But it is simple interest. Complete the table below by giving the interest each person will earn for each year. Joe's account Salma's account (Interest compounded annually) (Simple interest) (a) Interest earned during the first year (b) Interest earned during the second year (c) Interest earned during the third year %24

Q: 12. Leslie deposited $3000 into a CD and is earning 5% interest, compounded quarterly. What will be…

A: Given deposited amount =$3000 , rate =5% and time 10 year We have to find value of CD after 10 year

Q: You have decided to open a savings account and put $5000 in your local bank. If you had an interest…

A: Let t months would take you to earn at least $800 in interest. Given: interest rate: 1.3%…

Q: Ann deposits  $60,000  into an account that pays  3%  interest per year, compounded annually. Jim…

A:

Q: You would like to have $550,000 when you retire in 35 years. How much should you invest each quarter…

A:

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: Bob makes his first $600deposit into an IRA earning 6.8% compounded annually on his 24th birthday…

A: We have to find the future value of deposit at Bob's 39th birthday. Given information Periodic…

Q: How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: An investment account pays 8.5% compounded monthly. You need to have $3 million dollars when you…

Q: Jon Deposits $4,500 into an account paying 7% annual interest compounded quarterly and Sara deposits…

A:

Q: Eugene began to save for his retirement at age 32, and for 10 years he put $ 275 per month into an…

A:

Q: Logan would like to have $75,000 in 8 years. If his account earns 5% compounded annually, how much…

A: Use compound interest formula

Q: Charley’s credit card APR is 28.95% compounded daily. What is her actual interest rate per year?

A:

Q: Felipe deposits $40,000 into an account that pays 4% interest per year, compounded annually. Lena…

A: We need to find interest earned.

Q: A 529 Plan is a college-savings plan that allows relatives to invest money to pay for a child's…

A: Amount in the Account=Amount invested∗(1+r⁄n)∧(n*t) Amt after 20 years=$46000

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

A:

Q: How much should you deposit at the end of each month into an investment account that pays 8.5%…

A:

Q: Amanda deposits$60,000 into an account that pays 4% interest per year, compounded annually. Sam…

A: In this question, concept of simple interest and compound interest is applied. Compound interest is…

Q: A father opened a savings account for his daughter on the day she was born, depositing $1,000. Each…

A: Given that A father opened a savings account for his daughter on the day she was born, depositing…

Q: brittany made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years,…

A:

Q: Year First Second Third Interest Melissa earns (Interest compounded annually) $ $ $ Interest Greg…

A:

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: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Present value =$600,000 Rate of interest =7.1% compounded semiannually  Term =5 years Withdrawn ⇒…

Q: Sally makes deposits into a retirement account every year from the age of 30 until she retires at…

A:

Q: Lee puts 10,000 into a stock market index mutual fund that grew at an average of 70% per year for 10…

A: Lee puts 10,000 into a stock market index mutual fund Initial amount invested = 10000 rate of…

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

A:

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: my question states : A 529 Plan is a college savings plan that allows relatives to invest money to…

A: We need to find the investment.

Q: "Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It…

A: Connie deposits $2,000 at the end of each year into her Individual Retirement Account (IRA). It…

Q: Rois owes Php25,000 due in 1 year and Php75,000 due in 4 years. He agrees to pay Php50,000 today and…

A:

Q: For her first birthday, Ruth's grandparents invested $800 in an 18 year certificate for her that…

A:

Q: Carolyn invests $8000 at an annual rate of 7% compounded daily for 6 months. what is the future…

A:

Q: A recent college graduate received $25,000 as a gift from her grandparents. How much will this…

A:

Q: have $50,000 for her college in 18 years. If the account earns 5% compounded monthly. How much will…

A: Answer and explanation is given below...

Q: Parents wish to have $150,000 available for a​ child's education. If the child is now 3 years​ old,…

A:

Q: Grace's bank has a Cerificate of Deposit with an APR of 5% compounded monthly. (a) If Grace deposits…

A: Here, the formula used is: CI=P1+rnnt Here, CI is compound interest, P is the principal amount, r is…

Q: Laura saves ​$27 at the end of each week and deposits the money in an account paying 9%…

A:

Q: Find the value of a savings account with monthly deposits of $200 for two years into an account that…

A: Here we have to find the value of a savings account with monthly deposits of $200 for two years into…

Q: part A: You want to have $100,000 when you retire in 15 years. If you can earn 8% interest…

A: According to guidelines we should have been able to solve only first question at a time

Q: A youth sports league receives a ​$30,000 donation for building a new snack bar and office building.…

A: A=P1+rnntFor quarterly, n=4

Q: You inherited $12,000 from your Great-Uncle Michael.  If you invest it and average an 8% annual rate…

A: Amount compounded annually

Q: Larry purchased a certificate of deposit for $1500. The interest rate is 2%, compounded monthly, and…

A:

Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Given:  P=$1,000,000r=6.7%=0.067n=2t=12 year To determine: The amount that can be withdrawn from…

Q: I have $30,000 to put into an account. Explain which account would be better for me to choose.…

A: The principal amount is $30000. The details of accounts A, B are given. A: 2% interest, compounded…

Q: A $21 500 investment earns 5.25% interest, compounded quarterly.

A:

Q: Aldo deposits $60,000 into an account that pays simple interest at a rate of 2% per year. Melissa…

A:

Q: Jealous of Fry’s money, Leela starts making $5 daily deposits into a savings account that earns…

A: From the given information, it is observed that P = $5, r = 3.65%, that is, r = 0.0365, and t = 100…

Q: You deposited P75,500 into a savings account that pays 4% compounded annually in interest. Your…

A: You deposit P75,500 into a saving account that pays 4% compounded annually in interest. Your friend…

Q: when you retire in 15 years. If you can earn 3%

A:

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

A:

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…