Kyoko has $10,000 that she wants to invest. Her bank has several investment accounts to choose from, all compounding daily. Her goal is to have $15,000 by the time she finishes graduate in 6 years. To the nearest hundredth of a percent, what should her minimum annual interest rate be in order to reach her goal?

Q: James and Susan wish to have $10,000 available for their wedding in 4 years.How much money should…

A:

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: Abigail wants to save $15,000 to buy a car in 7 years. If she deposits $10,000 into an account that…

A: Topic- compund intrest

Q: Lisa McNeil needs to choose between two invest- ments: One pays 6% compounded annually, and the…

A:

Q: In preparation for her son's educational tour 18 months from now, Johnny Sins invested $21,000 and…

A: It is given that p=21000, A=35000, t=18

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: Jared was receiving rental payments of $4,000 at the beginning of every month from the tenants of…

A:

Q: Suppose you as a businessman leave an initial amount of 600$ in savings account at an annual rate of…

A: Simply use the formula of the Compound interest.

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: If an amount of money Pin pesos is invested at r percent compounded annually, it will grow to an…

A:

Q: After several years of working, Katy has saved $125,000. If she invests that $125,000 in a savings…

A: Katy has saved money $ 125,000        Invested Money at interest = 4 % per year        Time  =…

Q: Lily is going to invest $750 and leave it in an account for 18 years. Assuming the interest is…

A:

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

A:

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

A:

Q: Leigh Jacks plans to invest $500 into a money market account. Find the interest rate that is needed…

A: By using the formula                  A=P1+rmmt Where          P= $500A=$1200t=14

Q: Jamie is planning to invest in a college fund for her granddaughter. She would like the account to…

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Q: An artist currently has $840,000 to invest and her goal is to use these resources to acquire a $1.5…

A: From the given information, it is observed that P = $840,000, t = 6 and A = $1,500,000. Here, the…

Q: John requires $3000 in 6 months to pay off a loan that has no prepayment privileges. If he has the…

A: Given : John requires $3000 in 6 months to pay off a loan that has no prepayment privileges. So,…

Q: What is the total amount of money that you will have at the end of 4 years if you invest 4200 for 4…

A: Explanation of the answer is as follows

Q: Sophia is going to invest $7,900 and leave it in an account for 6 years. Assuming the interest is…

A:

Q: · A local car wash charges $3 per wash, or one can pay $12.98 for 5 washes, payable in advance with…

A: 5) A local car wash charges $3 per wash. One can pay $12.98 for 5 washes which are payable in…

Q: Credit card A offers an APR of 15.55%, compounded monthly, while credit card B offers an APR of…

A:

Q: What will a $90,000 condominiumcost 5 years from now if the price appreciation for condos overthat…

A: To find: The price for condos after 5 years from now: Given: The principle price is $90000 and  rate…

Q: As part of their financial planning, Janice Garcia's grandparents made monetary gifts to each of…

A: Given information Future Value is $5,000 and rate is r=9% compounded monthly. t=21 months=1.75 years…

Q: How much should you put in an investment paying a simple interest rate of​ 5% if you needed​ $4000…

A: Consider the provided question, Given, rate of interest = 5% time = 18 months = 1812 years Future…

Q: Adrian invested $7,200 in an account paying an interest rate of 3.1% compounded monthly. Assuming no…

A: P=$7,200,  r=3.1%=0.031,  A=$12,110,  n=12

Q: Suppose you want to accumulate $100,000 for a down payment on a house in 6 years. You make a single…

A: Solution is given below:

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

A:

Q: What is the total amount of money that you will have at the end of 4 years if you invest $300 for 4…

A:

Q: Darnell Enterprises constructed an addition to its building at a cost of $70,000. Extra annual…

A: Net cash flow can be calculated as follows:

Q: Adam Kaminski just received a signing bonus of $1,600,000. His plan is to invest this payment in a…

A: Consider the signing bonus as principal, that is P= $1,600,000. r=7% As Adam plans to establish the…

Q: If a bank advertises "triple your money in 12 years", what simple rate of interest is it offering?

A: We need to calculate the simple interest that the bank offers. The bank says "triple your money in…

Q: What is the total amount of money that you will have at the end of 4 years if you invest $7800 for 4…

A:

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

A:

Q: How much interest will Roxanne have to pay if she borrows $1000 for 2 yr at a simple interest rate…

A:

Q: Howard University’s School of Business will need several new commercial printers in 2 years and Dean…

A: Consider the provided question, Given, P = $60,000 Time = 2 years Rate of interest = 6% = 0.06…

Q: mr. Gordon plans to invest $300 at the end of each month in an account that pays 12%, compounded…

A: We use annuity formula.

Q: If the bank advertises its rate as 6.2% compounded monthly, and another bank advertises its rate as…

A: Given: One bank advertises its rate as 6.2% compounded monthly and another bank advertises its rate…

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

A:

Q: Hamad needs $6500 in 3 years for his first-year university program. He is planning to deposit a…

A:

Q: John wants to have $40,000 in cash four years from now in order to pay for part of his mortgage on…

A:

Q: The Thomassians will need $50,000 in three years to expand their business. What is the equivalent…

A:

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

A:

Q: you want to retire with $1,500,000 in 40 years and can earn a rate of 10.8% with monthly…

A: We can find pmt using Excel .

Q: Maryam is planning to invest P150,000. Bank A is offering 7.5% compounded semi- annually while Bank…

A: The principal will be equal to 1,50,000 . From bank A , The rate = r               =7.5%…

Q: In going through some old belongings of his ancestors, Mr. Rakib found papers indicating that they…

A: Amount invested in year 1720 is:  P = $22 Interest Rate:  r = 4.5%

Q: Douglas is saving up money for a down payment on a condominium. He currently has $3156 but knows he…

A: Douglas invests the $⁢3156 in an account that earns 5% annually, compounded quarterly, it take…

Q: A couple needs $23,335.13 as a down payment for a home. If they invested the $7,000.00 they have at…

A: