Maryann is planning a wedding anniversary gift of a trip to Hawaii for her husband at the end of 3 years. She will have enough to pay for the trip if she invests $2,500 per year until that anniversary and plans to make her first $2,500 investment on their first anniversary. Assume her investment earns a 4 percent interest rate, how much will she have saved for their trip if the interest is compounded in each of the following ways?

Q: Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the…

A:

Q: For life insurance policies, some of the premium pays for the cost of the insurance, and the…

A:

Q: Adam wishes to have ​$16,000 available in 22 years to purchase a new car for his son as a gift for…

A:

Q: A recent college graduate with $24, 000 in student loans decides to leave the country without making…

A: Given: P = $24000 r = 9% = 0.09 t = 30 years n = 360   Formula used: A=P1+rnnt

Q: You decides to buy a car by making a deposit of 20% and R2500 every month for 3 years. If the…

A: periodic monthly car payment =R2500 calculating the loan amount of car using the PV of annuity…

Q: Jasica Parker would like to have $75,000 to buy a new car in 6 years. To accumulate $75,000 in 6…

A: Solution :-

Q: To start a new business Beth deposits $2500 at the end of each six-month period in an account that…

A: Consider the given:  Given that:Both deposit $2500 = Rr%=6%r=0.06k=2t=9S=Ri1+in−1i=rki=0.062i=0.03

Q: The trustees of a college have accepted a gift of $150,000, but are required to deposit it in an…

A: Given that PV of gift =150000Rate semiannually =10%/2 =5%=0.05Number of Periods =2*8 =16 and…

Q: Rose has saved $160,000. If she decides to withdraw $2500 at the beginning of each month knowing the…

A: From the given, Amount (A) = $160,000 Principle amount (P) = $2500 Rate = 5% per annum Then R =0.052…

Q: Consider a newlywed who is planning a wedding anniversary gift of a trip to Canada for her husband…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Evelyn is going to invest $3,500 and leave it in an account for 16 years. Assuming the interest is…

A: The principal amount Evelyn is going to invest is:  $3,500 Time period:  t = 16 years Interest is…

Q: Suppose that Charles has $75000 to invest. He finds that Company A is offering a 2.51% APY, Company…

A:

Q: c. Suppose that you had the opportunity of investing $5000 in a business such that the value of the…

A: The amount in a saving account: The total amount will be A. Principle amount, p = $5000 Annual rate…

Q: The adult children of a college professor are endowing a scholarship fund in their father’s name.…

A: Given that, Present value = P = $1000 Interest rate = r = 6% = 0.06 Time = n = 3years

Q: Olivia was receiving rental payments of $2,000 at the beginning of every month from the tenants of…

A:

Q: a wants to have $200,000 to buy a smaller retirement home in 20 years. If they can earn 4.5%…

A: To calculate the amount that Mika should deposit in his account now to have $200,000 in 20 years.…

Q: Mrs. RF wants to provide a 200,000 graduation gift for her daughter Angel. She is now 16 yrs. old,…

A:

Q: Frank Steed wants to open a camera shop. How much must he deposit now at 6% interest compounded…

A: To find the amount which should be deposited now at 6% interest compounded monthly to have $25,000…

Q: 2. Ms. Z puts P242, 400 in a savings account that pays a set yearly interest rate of 5% compounded…

A: Let's find account balance after six years.

Q: OHigginsBooks.com can afford to pay only $3,100 per month to service its debt. What, to the nearest…

A:

Q: Olivia invested $1000 in an account that pays 2.5% interest compounded annually. Assuming no…

A: Olivia invested $1000 in an account that pays 2.5% interest compounded annually. Assuming no…

Q: The Jones want to save $51,000.00 in 2 years for a down payment on a house. If they make monthly…

A: FV=PMT1+rnnt-1rn FV=51000 t=2 years r=3%=0.03 n=12 for a monthly payment

Q: Retirement Planning Chris gets paid once a month andcontributes $200 each pay period into his…

A: To find the value of 401(k), use the payout annuity formula, P=PMT×1-1+rn-ntrn, where P is value of…

Q: d) Sofea is saving for the down-payment on a house and plans to buy the house in 3 years. How much…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

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: (a) If you invest $5,000 in an account that earns an APR of 3% with quarterly compounding, what will…

A: P = 5000 APR = 3% t = 10 year

Q: Alex expects to graduate in 3.5 years and hopes to buy a new car then. He will need a 20% down…

A:

Q: Allison is 28 years old and plans to retire at age 65 with ​$530,000 in her retirement account.…

A: Let the principal amount be P He retires at an age of 65, that is, in 37 years from the date of…

Q: Suppose Mr. Chui would like to know the present value of his monthly deposit of P4,500 when interest…

A:

Q: A person needs $15 000 for a down payment on a car. If the person invests $10 000 at 9% interest,…

A: Given  A=15000 P=10000 r=9%=0.09

Q: Amy won a lottery that would pay her $42,000 in 2 years and $10,200 in 5 years. The lottery company…

A:

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

A:

Q: (a) Martha invests an amount of $10000 at 3.5% compounded quarterly. What is the value of her…

A:

Q: Parents agree to invest $600 (at 8%, compounded semiannually) for their son on the December 31 or…

A: Given:Principal amount =P=$600Rate of interest =r=8% semiannuallyTime=t= 4 yearsNumber of…

Q: If you have R.O. 9275 and you want to make a small business that will provide you a steady income…

A: Compound interest =p1+R100t p=9275 t=1,2,3,....19 ,R=19  =92751+19100t

Q: Marlon Dela Cuesta spends P850 per month in cigarettes. If he stops smoking and invest the same…

A: As per our guidelines, we are supposed to solve only first question. Kindly repost other question as…

Q: Kevin invested $2,500 in an account paying an interest rate of 2.7% compounded daily. Assuming no…

A:

Q: Anna Stanley has two offers for her pizza business. The first 15. SELLINGA RESTAURANT offer is a…

A: In first offer the amount is $85000In second offer the down payment is $25000 with payment of $3500…

Q: John wants to accumulate at least $35,000 by depositing $1,900 at the end of each month into a fund…

A: The formula that we have to use here is A = d1+rknk-1rk Where A is the final amount, d is the…

Q: Dawson is saving for a down payment to buy a house. The account earns 2.5% interest compounded…

A:

Q: Lauren plans to deposit $7000 into a bank account at the beginning of next month and $250/month into…

A: Let , r=interest rate = 2%=0.02  n = number of interval = 12 t =duration of payment = 4 years…

Q: At the time of her​ grandson's birth, a grandmother deposits $1000 in an account that pays 5%…

A: The deposit is $1000, compounded monthly is 5%. The value of the account at the​ child's…

Q: After several years of working, Katy has savings of $1000,000. If she invest that $1000,000 in a…

A: Given: Principal amount(P0)=$1000,000 rate of interest(r)= 5%=5/100 time(n)=20 years…

Q: A student opens a credit card and immediately maxes it out by putting $2,000$2,000 on it in order to…

A:

Q: Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the…

A: We will use the formula,  A=R1-(1+i)-ni where A =300,000, i=12%12=1%=0.01   n= 30*12=360 so,…

Q: asa has invested money from the settlement of an insurance claim. she plans to withdraw 1900 from…

A: Given: Interest rate = 7% compounded semi annually The payment hold over for 6 years

Q: Parents agree to invest $700 (at 10%, compounded semiannually) for their son on December 31 or June…

A:

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

A: Given Principal = $100,000, Time, n = 20 years and Rate of interest, r = 5%. Obtain the interest…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.