Lee put $5,000 into a stock market index mutual fund that grew at an average of 6.5% per year for 10 years. Without any added deposits or withdrawals, about how much is Lee's mutual fund account after only 8 years, if you ignore compounding?

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: Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel…

A: for both Jackson and Angel , P is $81,000. now Time is 16 years. for Jackson Rate, r is 6.5% which…

Q: How much should Linda Bryan set aside now to buy equipment that costs ​$8,000 in one​ year? The…

A: For simple interest, the amount formula is, A = P + PRT100 and for compound interest, the formula is…

Q: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded…

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Q: You invested $9,000 at the end of each quarter for 8 years in an investment fund. If the balance in…

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Q: f you $15,000 in an account with a 4.5% interest rate, compounded quarterly, how much money will you…

A: The formula for final Amount if compound interest calculated. A=P(1+rn)nt…

Q: If $11,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

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Q: If $12000 had been invested in a certain investment fund on September 30,2008, it would have been…

A: compounded interest formula A=P(1+rn)nt A=53625.75 P=12000 r=? t=10 years n=1 (compounded annually)…

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

A:

Q: You want to have a $40,000 college fund in 6 years. How much will you have to deposit now in an…

A: To calculate the present value (amount to be invested) for the given conditions to be satisfied

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: How much interest will you earn if you invest $800 for 3 years at a simple interest rate of 7%…

A: Principal Amount, P = $800 Time, t=3 yrs simple interest rate, r=7%=0.07 To evaluate : The interest…

Q: After several years of working, Katy has savings of $100,000. If she invests that $100,000 in a…

A: Consider the provided question, Given Principal = $100,000 Time = 20 years Rate of interest = 5%

Q: A newborn child receives a $5,000 gift toward a college education from her grandparents. How much…

A:

Q: Ben Franklin's gift of $5,000 to New York City grew to $7,000,000 in 200 years. At what interest…

A: The principal amount, P = $5,000 Future amount, A = $7,000,000 Time, t = 200 years The number of…

Q: On Melissa's 6th birthday, she gets a $2000 CD that earns 3% interest, compounded semiannually. If…

A: `Given P=$2000, i=3%=0.03, t=13,n=2(compounded semi annually) Formula for amount is A=P1+rnn×t

Q: Beck would like to be a millionaire in 35 years. How much would she need to invest quarterly in a…

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Q: You currently have $30,000 in your savings account. At what nominal interest rate compounded monthly…

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Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

Q: Suppose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be…

A: time period t = 2020-1626 t = 394 years p = $40 compounded quarterly n= 4 Formula of CI: A=P(1+rn)nt

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

A: Given, Principal amount, P = $10,000 Rate of interest, r = 7%  Time, t = 10 years We know, Interest,…

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: A credit card had an APR of 17.78% all of last year and compounded interest daily. What was the…

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

A:

Q: Carter invested $16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming…

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Q: If you invest $10,000 at an interest rate of 3.2% compounded monthly, when will your investment be…

A: Initial amount=P=$10000Final amount=A=$15000Interest rate=r=3.2%=0.032Time=t=?Number of times…

Q: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

A: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

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

A:

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: On Melissa's 6th birthday, she gets a $2000 CD that earns 3% interest, compounded semiannually. If…

A: P=$ 2000  time T = 15 – 6 = 9years Interest 3% semiannually Then futur value = P(1 + (R/2)/100)2t =…

Q: Dylan invested $47,000 in an account paying an interest rate of 4% compounded annually. Assuming no…

A: Formula: The compound interest formula is given by, FV=PV1+rnnt Given: FV=$79,200, PV=$47,000, r=4%,…

Q: Chase invested $39,000 in an account paying an interest rate of 3.2% compounded daily. Assuming no…

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Q: Approximately how much money would Manny have if he invested $1,200 at an interest rate of 5% for 7…

A:

Q: Jason thinks he can save enough to deposit P1,200 in the bank at the end of each year for the next…

A: The future value of an annuity is given by FV=PMT×1+in-1iWhereFV=future value of annuityPMT=cash…

Q: Claire invested $2,400 in an account paying an interest rate of 3.5% compounded monthly. Assuming no…

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Q: How much should be invested today in an account earning 6% compounded quarterly, if you need $35,000…

A: A=P(1+(r/n))nt where A = final amount P=initial amount r=interest rate in decimal n=number of…

Q: If $7,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Kayla invested $88,000 in an account paying an interest rate of 8% compounded daily. Sadie invested…

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Q: At age 25, you start work for a company that deposits $10,000 into a retirement account that pays a…

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Q: Riley invested $5,100 in an account paying an interest rate of 7-% compounded quarterly. Ryan…

A: Use the formula A=P1+rnnt. Where P is the principle amount, r is the rate of interest, n is number…

Q: In 1998 the annual cost of attending a public college was $10,069, and the costs were climbing by 6%…

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Q: A money market account of $800 earns 3.0% interest compounded quarterly. What is the equation?

A: Given that principal (P)=$800annual interest rate (r)=3%=3100=0.03number of times compounded per…

Q: In how many years will an investment of P2000 double in amount if the interest rate is 14.35%…

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Q: How much will you need to put away to get 1500 after 13 years at 9% compounded monthly?

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Q: How many years will 100 000 earned a compound interest of 500 000 if the interest rate is 9%…

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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: 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: In the future, it is estimated that university will cost $200,000 per student. How much would have…

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