Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded semi-annually. How much money will he have after 2 years? Round to the nearest penny.

Q: Brent Pickett borrowed ​$5000 from his brother Dave. He agreed to repay the money at the end of 2…

A:

Q: Alex invests 500 dollars compounded daily for 3 years. If he has 600 dollars at the end, what was…

A: Given problem is :   Alex invests 500 dollars compounded daily for 3 years. If he has 600 dollars…

Q: To save for her high school graduation, Jenny decided to save P1,250.00 at the end of each month. If…

A: We need to choose correct option.

Q: Budjanga, a business man wants to have P500, 000.00 four (4) years from now. What amount should he…

A: assume he invest amount = P after four years Amount A = 50000

Q: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

A: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: Sam and Katie have a new grandson. How much money should they invest now so that he will have…

A: In this question, we have to find the principal amount that we invest now and after 18 years it will…

Q: Find the amount of money that results if $100 is invested at 4% compounded quarterly for 2 years.

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Q: Rounded to the nearest quarter year, how long will it take an investment to quadruple if it earns 8%…

A:

Q: Monique invested $46,900 in a mutual fund at 4% compounded annually. After 4 years, the interest…

A: Here we have to find out the value after 4 and additional 7 years

Q: Andrea invests $400.00 in an account that pays 4% annual interest. How much will there be in the…

A: Given, P=$400.00r=4%=0.04n=4t=5

Q: Robert has $60,000 in a savings account. The interest rate is 2 % per year and is not compounded.…

A: Since the interest rate is not compounded, it's a question of simple interest.

Q: Sarah opens an investment account with an initial deposit of $ 900. She then sets up monthly…

A:

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

A: Given that A father opened a savings account for his daughter on the day she was born, depositing…

Q: Edgar accumulated $7,000 in credit card debt. If the interest rate is 30% per year, and he does not…

A:

Q: sam deposits 150 in a savings account and earns 6% compounded monthly will she have enough savings…

A: Follow the steps.

Q: John and Claudia have a new grandson. How much money should they invest now so that he will have…

A:

Q: Edgar accumulated $6,000 in credit card debt. If the interest rate is 20% per year, and he does not…

A: Given:  P = 6000  r = 20% = 20/100 = 0.2   t = 3

Q: You can afford monthly deposits of $250 into an account that pays 3.0% compounded monthly. How long…

A: This is a problem of compound interest. By using general formula we will solve the given question.

Q: A recent college graduate's gift from her grandparents is $23,000. How much will this provide at the…

A: NOTE: Refresh your page if you can't see any equations. . here we have L=23000 r=5.4%=0.054 t=12…

Q: Ms. Cruz borrowed P50, 000 and repaid it 5 years later. If money earns interest at16% compounded…

A:

Q: Jasmine wants to invest $5,000, but unsure which bank to invest in. She can invest in the Houston…

A:

Q: Jesse and Tatiana have a new grandson. How much money should they invest now so that he will have…

A: Future Value:  F.V. = $ 54,000 Total time period: n = 18 years Interest Rate: r = 6.25 % = 0.0625…

Q: Suzanne opens a line of credit at a local bank, and immediately borrows 1510 dollars. 5 months…

A:

Q: Julia wants to have $5,000 in 10 years after investing in an account that earns 4.2% compounded…

A:

Q: A recent high school graduate received ​$600 in gifts of cash from friends and relatives. In​…

A: We will find how much money he will be getting after 36 months as following .

Q: Joe deposited $500 in an account that earns 6% simple interest. Alex deposited $500 in an account…

A: Compound interest formula A=P1+rtnt where A is accumulated amount P is principle amount' r is rate…

Q: have $50,000 for her college in 18 years. If the account earns 5% compounded monthly. How much will…

A: Answer and explanation is given below...

Q: Jesse and Kendra have a new grandson. How much money should they invest now so that he will have…

A:

Q: Tessa invests $5700 in a new savings account which earns 3.7% annual interest, compounded…

A:

Q: A youth sports league receives a ​$30,000 donation for building a new snack bar and office building.…

A: A=P1+rnntFor quarterly, n=4

Q: Dolores invests $7100 in a new savings account which earns 5.3% annual interest, compounded monthly.…

A: Given- P=$7100,r=5.3% and t=3years. To find- The total value of investment after 3 years. Formula…

Q: Amy, who is 25, deposits $400 every 3 months into an account that earns 3.66 compounded quarterly.…

A:

Q: Accumulate $18,000 for 8 years at 6% compounded quarterly. What will be the compound amount after…

A: # considering that year as 8 years  the principal amount invested $18,000 time = 8 years rate of…

Q: Mr. Charles, a rich businessman, divided his wealth of $170 million between his two sons, Jason and…

A:

Q: Roy and Alejandra have a new grandson. How much money should they invest now so that he will have…

A: Use the formula for compound interest directly.

Q: Carlos and Tiana have a new grandson. How much money should they invest now so that he will have…

A:

Q: A principal of $1700 is invested at 5.5% interest compounded annually. How much will the investment…

A: Please see the answer in Step 2

Q: sanji spends 850 per month on cigarettes. if he stops smoking and invest the same amount in a plan…

A:

Q: mary lou received $19,000 from her grandparents for her college education 7 years prior to her…

A:

Q: Rhoda would like to have P60,000 in her account by the end of three years. How much should she…

A: A=60000, t=3,  r=12%=0.12, n=4.

Q: Andrea invests $400.00 in an account that pays 4% annual interest. How much will there be in the…

A:

Q: Noman would like to have $50,000 in 16 years to give to his son to help pay for his university…

A: As per the given condition the person wants to make his money goes up to $50000 in 16 years, if the…

Q: Rikki Blair borrowed $6000 from her daughter Lynette. She repaid the $6000 at the end of 2 years. If…

A: We wiil use formula for compound interest .

Q: Sarah wants to save for a car that costs $5000. She has $4250 in a savings account earning 1.49%…

A: The amount invested is $4250 The rate of interest is 1.49% compounded quarterly the cost of car is…

Q: Sergio and Wendy have a new grandson. How much money should they invest now so that he will have…

A: Please see the answer in Step 2

Q: Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded annually. At the…

A: Here, given that Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded…

Q: P=$500, r=9% compounded quarterly, t=7 years

A: Given, P=$500, rate of interest, r=9% , t=7 and it is compounded quarterly.

Q: Sharon Nguyen has $25,000 to invest and believes that she will earn 6% compounded semiannually. Find…

A: Formula for compound interest  A = amount after t years p = initial investment = $ 25000 r =…

Q: A recent high school graduate received ​$700 in gifts of cash from friends and relatives. In​…

A: This question is related to compound interest, We will solve it using given information.