Kayla is going to invest in an account paying an interest rate of 2.9% compounded monthly. How much would Kayla need to invest, to the nearest cent, for the value of the account to reach $42,000 in 6 years?

Q: Gabriel invested $17,000 in an account paying an interest rate of 3% compounded annually. Assuming…

A: It is compound interest problem for calculating time period.

Q: Audrey is going to invest in an accour paying an interest rate of 5.7% compounded daily. How much…

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Q: Samuel is going to invest $4,900 and leave it in an account for 14 years. Assuming the interest is…

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Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 12%…

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Q: Isaiah is going to invest $94,000 and leave it in an account for 16 years.Assuming the interest is…

A: Isaiah is going to invest $94,000 and leave it in an account for 16 years. The interest is…

Q: A year-end bonus of $25,000 will generate how much money at the beginning of each month for the next…

A: Given that the year-end bonus is $25,000 that can be invested at 6.15% compounded monthly.

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: Rochelle invested $100 at the end of every month into an RRSP for 11 years. If the RRSP was growing…

A: Given information Initial principal balance P=$100 Rate of interest r=4.60% ⇒r=4.60100=0.046 Period…

Q: Oliver is going to invest $2,500 and leave it in an account for 18 years. Assuming the interest is…

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Q: Edmond has $6,915 in a savings account that earns 8% interest, compounded annually. To the nearest…

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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: Amelia is going to invest in an account paying an interest rate of 2.3% compounded quarterly. How…

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Q: Christian is saving money and plans on making monthly contributions into an account earning an…

A: Given data is: Future value of amount after n period A=$9000 Interest rate i=5.7% Period n =32…

Q: Paisley is going to invest $28,000 and leave it in an account for 14 years. Assuming the interest is…

A:

Q: Mason is going to invest in an account paying an interest rate of 5.3% compounded quarterly. How…

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Q: Jeremiah invested $70,000 in an account paying an interest rate of 6.8% compounded daily. Assuming…

A: A=$99000  P=$ 70000 r=6.8%=0.068 n=365 ( compounded daily)

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

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

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Q: Anthony is going to invest in an account paying an interest rate of 4.6% compounded monthly. How…

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Q: Matilda and Horace open a retirement account with $120,000. How many years will it take for the…

A: Find the time taken for the amount $120,000 to grow to $800,000 if it grows at a rate of 4.5%…

Q: n how many years will the amount of P10,000 triple if invested at an interest rate of 10% compounded…

A:

Q: Hsu-Mei wants to save $3,000 for a down payment on a car. To the nearest dollar, how much will she…

A: To real the goal in 3 years is 3000 Question says its compounded daily  so we use compound interest…

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: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

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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: Evan is going to invest in an account paying an interest rate of 5.4% compounded annually. How much…

A: Final amount = Principal amount + InterestFinal amount = P+P(1+rn)ntn=1 (compounded annually)Final…

Q: How much will you have after 25 years if you put $2000 per month in the account that instead earns…

A: The solution is given below:

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: Ariana is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much…

A: r=3.7%  A=$25000 t=14 years  n=12 (compounded monthly)

Q: Mr. Gordon plans to invest $300 at the end of each month in an account that pays 6%, compounded…

A:

Q: Madison is going to invest in an account paying an interest rate of 5.1% compounded quarterly. How…

A: Let the amount invested in the account be P Final value of amount in the account(A) is $310 Number…

Q: A year-end bonus of $20,000 will generate how much money at the beginning of each month for the next…

A:

Q: Lydia is going to invest $210 and leave it in an account for 17 years. Assuming the interest is…

A:

Q: Preston has $8,000 in a savings account. The interest rate is 4%, compounded annually. To the…

A: We have to find compound interest.

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

A:

Q: Erin has $250,000 saved for retirement in an account earning 3.4% interest, compounded quarterly.…

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Q: If you have $5000.00 to invest at a rate of 3.5% compounded monthly, how long would it take to save…

A: The savings obtained by investing an amount P at an interest rate of r % (compounded monthly) for t…

Q: I want to have $20,000 to buy a car in five years. How much would I have to invest now in a savings…

A: We will use the Compound Interest formula to find the amount you need to invest every year to get…

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: A year-end bonus of $24,000 will generate how much money at the beginning of each month for the next…

A: The present value of an annuity is given by  Present Value=PMT1−1+i−ni1+i For a year, n = 12. Since…

Q: A year-end bonus of $22,000 will generate how much money at the beginning of each month for the next…

A: The payment that has to be done at the beginning of each period is Annuity. In this problem, the…

Q: Greg has $9,000 in a savings account. The interest rate is 15%, compounded annually. To the nearest…

A: NOTE: Refresh your page if you can't see any equations. . here we have P=9000 r=15%=0.15 n=1 for…

Q: A couple needs $60,000 as a down payment for a home. If they invest the $45,000 they have at 4%…

A:

Q: nora is thinking of investing an amount of P30,000  8.5% compounded annually

A: Given,Present Value, PV=30,000Rate of interest,r=8.5 compounded annuallyTime period, n=2.5 years

Q: find the value of a $3000 certificate in 2 years, if the interest rate is 10% compounded annually…

A: Formula used;-          Amount = Principal(1+rate/100) n(no.of years)

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: How long it would take to double an invesment if the rate of interest is 10% compounded quarterly?

A: Follow the procedure given below.

Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 12%…

A: Given: A couple needs $55000 as a down payment foe a home , Therefore, A=55000 is the future value,…

Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 8%…

A: From the given statement it is observed that, the investment of $40,000 at 8% compounded quarterly…

Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 12%…

A: THE COMPOUND INTEREST FORMULA Compound interest can be calculated using the formula…