Melissa Blum deposits $7500 of lottery winnings in an account paying 6% interest compounded monthly. What effective rate does the account earn?

Q: Marwan provides a donation of $4291 to a college with the provision that a scholarship is paid at…

A:

Q: Shawn made equal deposits at the beginning of every 3 months into an RRSP. At the end of 10 years,…

A: Let quarterly deposits be x  Interest rate = 2.2512%=0.001875  Time = 10 years Period n = 10 x 12 =…

Q: Tommy has $4,000 in a savings account that earns 13% interest, compounded annually. To the nearest…

A:

Q: Jimmy paid off a mortgage by paying $725 per month for 16 years. What was the original amount of the…

A: Given

Q: Sarah deposited $6,800 in an account paying 2.5% per annum compounded semi-annually. How much will…

A:

Q: Vicki Kakounis bought a television set with money borrowed from the bank at 8% interest compounded…

A: The rate of interest is given as 8% The interest is compounded quarterly  In a year, there are 4…

Q: Audrey deposited $12,000 into an account paying 5% interest compounded twice a year. How long will…

A:

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 2% interest…

A: Given: Amount deposited=$1000Rate of interestcompound=2% quaterly To Find: Amount after 10 years.

Q: A child deposits his birthday money of $350 into an account that pays 5.6% interest compounded…

A: A child deposits his birthday money of $350, so the principal amount is $350    Rate = 5.6% interest…

Q: Lupita deposited $5,000 into a savings account that earns 2% interest compounded annually. Rounded…

A: We are given with the interest rate and time duration and the initial payment and we have to find…

Q: You deposit $2000 each year into an account earning 2% interest compounded annually. How much will…

A:

Q: The Nelsons would like to take a cruise to Alaska in 5 years and will need $9,350. What amount…

A:

Q: Justin received an excellent interest rate for his loan of $7,000. Calculate the nominal interest…

A:

Q: Find the value of a $3,000 certificate in 2 years, if the interest rate is 10% compounded annually.

A:

Q: Berno deposits $30,000 into an account paying 3.25% annual interest, compounded quarterly. How much…

A:

Q: Springfield Florist plans to replace its delivery vehicle in three years. If they set aside $16,000…

A:

Q: Niagara Vineyards borrowed $75,000 to update their bottling equipment. They agreed to make payments…

A: Need to find how long company have to make payments

Q: Kira borrowed $8000 at a rate of 7%, compounded annually. Assuming she makes no payments, how much…

A: kira borrowed $8000 at a rate of 7%, compounded annually.how much money after 7 years.

Q: Find the apy for an account earning 4.3% compounded six times a year

A:

Q: You deposit $1000 each year into an account earning 4% interest compounded annually. How much will…

A:

Q: For her 1st birthday, Ruth's grandparents invested $1200 in an 18-year certificate for her that pays…

A:

Q: You deposit $4,000.00 each year into an account earning 2% interest compounded annually. How much…

A:

Q: Dylan deposited $4,000 in a 3-year CD account that pays 3.08% interest, compounded weekly. What is…

A: Use formula of compound interest weekly.

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 5% interest…

A:

Q: If you deposit P4000 into an account: paying 6% annual interest compounded quarterly, how much money…

A: Compound interest

Q: Milena deposited ​$9,000 in a certificate of deposit​ (CD) account that pays 3​% annual​ interest…

A: Given query is to find the amount accumulated in the account after 5 years.

Q: Jacqueline loaned $61,000 to a small business at 5.14% compounded monthly for 1 year and 9 months.…

A:

Q: John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How…

A: Initial deposite= P= 2000 Final amount=A=? Time=t= 4 years  Interest rate = 5.8%=0.058  Number of…

Q: Lori buys a $1,075 certificate of deposit (CD) that earns 3.2% interest that compounds monthly.  How…

A: Monthly interest rate and future value will be calculated using the formula,

Q: Felipe deposited $3000 into an account with a 8% annual interest rate, compounded semiannually.…

A:

Q: you deposit $300 each month into an account earning 2% interest compounded monthly. How much will…

A:

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $431 per month…

A:

Q: The pawnbroker charged Elisa a simple interest rate of % (Round to the nearest whole number as…

A: We have to find the simple interest  rate.

Q: Jose borrowed $8000 at a rate of 12.5%, compounded annually. Assuming he makes no payments, how much…

A:

Q: What is the purchase price on a car that has a $264 monthly payment for 5 years, financed at 8% per…

A: The purchase of a car that has a $264 monthly payment for 5 years, financed at 8% per year,…

Q: Lucy invested for 15 years at 2.8%, compounded annually and ended with an account balance of $2250.…

A:

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $327 per month…

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

Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

A: Topic - Compound Interest

Q: In buying a car, Amiel pats P 210,000.00 cash and agrees to pay P790,000.00 for 4 years at 12%…

A: Given that, in buying a car, Amiel pats P 210,000.00 cash and agrees to pay P790,000.00 for 4 years…

Q: Martina borrowed $8000 at a rate of 6%, compounded quarterly. Assuming she makes no payments, how…

A: Amount = P(1+r/n×100)nt

Q: Kim borrowed $9,000 at  2  3/8% interest compounded daily.  How much will she have to pay back…

A:

Q: If $5000 is loaned for 5 months at a 5% annual rate, how much interest is earned?

A: Given: principal amountp=$5000, rate of interestr=5% per year and timet=5 months we know that simple…

Q: Snape made a deposit of $495 into an account that pays 3% interest compounded annually. How much…

A:

Q: Karen borrowed $2000. How much will she pay back in 1 year if she is charged 2% a year, compounded…

A: Principal money=$2000=P time(t)=1year rate of interest(r)=2% to find amount=? when compounded…

Q: You deposit $400 each month into an account earning 6% interest compounded monthly. How much will…

A:

Q: You deposit 130 each month into a savings account that pays 5.5% compounded monthly. How much will…

A:

Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

A:

Q: As a new engineer, you wanted to earn and availed an investment insurance. Every month you are going…

A:

Q: You deposit $2000 each year into an account earning 7% interest compounded annually. How much will…

A:

Q: Rahel left a $5000 investment for 3 years in an account that paid 4% per year, compounded…

A:

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products. 

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.