Lupe Gonzalez has $15000 in her retirement account. Find the interest rate required for the fund to grow to $20000 in 18 months. [Give answer to three decimal places]

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Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

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Q: What nominal rate of interest, compounded monthly, corresponds to an  effective rate of 4.5% ?

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

Q: If $3,700 was invested 4 months ago at a simple interest rate of 1.9%, what would be the value of…

A: A $3,700 was invested 4 months ago at a simple interest rate of 1.9%.

Q: If you were investing money in an account and the interest rate was the same either way, would you…

A: If the same amount of money is deposited and the same rate of interest is applied then: Simple…

Q: A bank deposit paying simple interest grew from an initial amount of $1200 to $1290 in 3 months.…

A: According to question given that initial amount grew $1200To  $1290 in 3 months.

Q: If you paid $90 to a loan company for the use of $1,252 for 120 days, what annual rate of interest…

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Q: If you earn $1200 per month and you expect your earnings to increase by 10% per year, how much do…

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Q: A lending company advertises that for a fee of P10, you can immediately borrow up to P200 for one…

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Q: If u make an investment of $5000 and the investment earns an annual interest rate of 2.1%, how much…

A: The simple interest SI on a sum of P at R rate of interest for T years is expressed as SI=P×R×T100…

Q: At what simple interest rate will an amount of money double itself in 10 years?

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Q: To save for retirement, Karla Harby put $475 each month into an ordinary annuity for 18 years.…

A: Amount karla put before interest (P) = 475 Tenure (t) = 18 years = 18 *12 Intrest will be compounded…

Q: At what simple interest rate per annum will Php25,000 accumulate to Php33,000 in 5 years? Round off…

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Q: A​ woman, with her​ employer's matching​ program, contributes ​$800 at the end of each month to her…

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Q: A car is purchased for $38,500. If it is sold 7 years later for a price of $22,000. At what yearly…

A: Consider the provided question, Given, Principal (P) = $38,500 Amount(A) after 7 years = $22,000…

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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: If Juanita invests $1500 in a retire-ment account that earns 8% compounded annually, how long will…

A: Given:Juanita invests $1500 in a retirement account the earns 8% compounded annually, and the amount…

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: At what rate of simple interest an amount will double itself on 10 years?

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Q: If an account earns an effective rate of 4%, what will the real rate of interest be if: a.…

A: Here, nominal rate is 4% or 0.04.

Q: If the final value is $5380 at the end of 5 years and the simple rate of interest is 9%, what is the…

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Q: Aubree invested $8,300 in an account paying an interest rate of 2.2% compoùnded quarterly. Assuming…

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Q: What amount of money will accumulate to $83,000 in 1 year and 3 months at the interest rate of 2.12%…

A: Given Principal (P) =83000 Rate of interest (R) =2.12% Time (T) =1 year 3 months

Q: If 5000 dollars is invested in a bank account at an interest rate of 4 percent per year,

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Q: Based on making 46000 a year and saving 16% of that monthly income what is the monthly amount that…

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Q: If you owe $2000 on a credit card with 18% annual interest compounded monthly, how i) much money…

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Q: . If a $28,700 salary is increased 5 percent each year to keep ahead of inflation, what will this…

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

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Q: A​ woman, with her​ employer's matching​ program, contributes ​$500 at the end of each month to her…

A: Consider the provided question, Calculate the Future Value of money contributed in her retirement…

Q: 3. Dave bought a car 8 years ago for $5400. To buy a similar car today would cost $12,500. Assuming…

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Q: A $40,000 investment in a mutual fund doubled to $80,000 in 5 years. What was the investment’s…

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Q: At what simple interest rate will an amount of money gain 50% of the principal in 4 years?

A: Principal = PAmount = A Time = T = 4 yearsAccording to question, Amount becomes 150% of principal…

Q: Today, a typical family of four spends $920/month for food. If inflation occurs at the rate of…

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Q: If the inflation rate is 4.85% compounded annually, how long will it take for prices to double?

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Q: If the simple interest on $1,000 for 10 years is $600, then what is the interest rate? The rate is…

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Q: Suppose your salary in 2012 is $30,000. Assuming an annual inflation rate of 6%, what salary do you…

A: Consider the provided information, Suppose your salary in 2012 is $30,000. Assuming an annual…

Q: A man is required to pay P57,500 at the end of 15 days and for P60,000 at the end of 60 days.…

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Q: A bank offers 8% interest rate compounded quarterly. How long will it take for an amount of money…

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Q: If a new car costs $25,000 and depreciates at a rate of 16% per year, what will be the value of the…

A: We know that, if a depreciation of r% per year is applied over an amount P for n years, then the…

Q: If the annual rate of inflation is 4%, find the price of a good at the end of a year if its price at…

A: Let the price at the end of the year is x then by the formula of inflation x-2525×100=4% Because…

Q: A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1200 in 10…

A: The formula for Simple Interest is given by S.I=PRT100 where P is the principle, R is the rate and T…

Q: Suppose your salary in 2014 is $75,000 at the annual inflation rate is 6% what salary do you need to…

A: Given, Salary in 2014 = 75000 Inflation = 6%

Q: Suppose your salary in 2012 is $70,000. If the annual inflation rate is 5%, what salary do you need…

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