Michelle invests in a savings account that pays 8% interest compounded monthly. What is the APY for this account? Round to the nearest 0.00% Submit Question 9 Type here to search

Q: You deposit $3000 in an account earning 2% interest compounded monthly. How much will you have in…

A: Since, there has been a deposit of $3000 in an account earning 2%interest compunded monthly. Our aim…

Q: Carrie took out a $12,000 personal loan to pay off her credit cards. She will not make a payment for…

A: (you are not mention clearly interest rate ,is it monthly or yearly) Given Principal P=$12,000…

Q: Ingrid wants to buy a $19,000 car in 8 years. How much money must she deposit at the end of each…

A: See the solution.

Q: The year Julia was born the Yanda family invests $5,000 into an account that earns 6.25% compound…

A: Given that:                       Initial investment, P=$5000Rate of interest, r=6.25%Time period,…

Q: mt A = P (1+ %3D If I deposit $2,500 today in an account paying 1% interest compounded quarterly,…

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Q: You want to be able to withdraw $20,000 from your account each year for 20 years after you retire.…

A: Given: Withdrawable amount= $20,000 for 20 years. Expected retirement=3 years. interest rate 4%.…

Q: An account starts with a value of $6,600. It earns 6.8%, compounded monthly. $300 is added to the…

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Q: Rasmus has 5000 dollars that he wants to invest. His bank has several investment accounts to choose…

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Q: Jasmine received a $38,000 loan from a bank that was charging interest at 4.50% compounded…

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Q: Molly starts an IRA (Individual Retirement Account) at the age of 24 to save for retirement. She…

A: the amount of money she saved is calculated as shown below

Q: Ingrid wants to buy a $17,000 car in 8 years. How much money must she deposit at the end of each…

A: Given that Ingrid wants to buy a $17000 car in 8 years Interest compounded quarterly is 5.3% To find…

Q: Find the total amount a college student has in a savings account if $14,000 was invested and earned…

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Q: If you invest $300 into a savings account that earns 8% annual interest compounded monthly, how much…

A: Here we find compounding.

Q: Treasure mountain international school in park city, Utah,  is a public middle school interested in…

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Q: How much would you need to deposit in an account now in order to have $6000 in the account in 10…

A: See the attachment

Q: Matilda wishes to retire at age 67 with $1,500,000 in her retirement account. When she turns 28, she…

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Q: Find the final amount of money in an account if 38, 800 is deposited at 5 % interest compounded…

A: The final amount can be calculated using the compound interest formula given as:       Compound…

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

A: We have to find the deposit after 3 years.

Q: You choose to invest your $3,310 income tax refu d check (rather than spend it). In an account…

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Q: Suppose you want to have $600,000 for retirement in 20 years. Your account earns 5% interest. Round…

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Q: Find the final amount of money in an account if $700 is deposited at 2 % interest compounded…

A: Let's find final amount = ?

Q: An account is opened with an initial deposit of $4600 and earns 7.3% interest, compounded…

A: NOTE: Refresh your page if you can't see any equations. . here we have P=4600 r=7.3%=0.073 n=2 for…

Q: You have a savings account into which you invest $75 at the end of every month and the account pays…

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Q: You deposit $5000 in an account earning 3% interest compounded quarterly. How much will you have in…

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Q: Molly starts an IRA (Individual Retirement Account) at the age of 24 to save for retirement. She…

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Q: A bank features a savings account that has an annual percentage rate of 5.4 % with interest…

A: P = $ 5500 APR = 0.054

Q: Adam wishes to have ​$20,000 available in 22 years to purchase a new car for his son as a gift for…

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Q: Olga invests $3000 in an account that earns 1.3% annual interest compounded monthly How many years…

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Q: Kim invested a sum of money 6 yr ago in a savings account that has since paid interest at the rate…

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Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

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Q: Matilda wishes to retire at age 67 with $1,500,000 in her retirement account. When she turns 28, she…

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Q: Jada deposited an amount of money in a bank 8 years ago. If the bank had been paying interest at the…

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Q: Determine the amount of money you will have 10 years if you deposit $8,000 at 5.6% annual interest…

A: To find amount we use formula:

Q: Find the final amount of money in an account if $2, 100 is deposited at 2.5 % interest compounded…

A: We have to find the final amount.

Q: f $9,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

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Q: Kayla starts an IRA (Individual Retirement Account) at the age of 24 to save for retirement. She…

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Q: Milena deposited $5,000 in a certificate of deposit (CD) account that pays 6% annual interest,…

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Q: Find the final amount of money in an account if $1, 900 is deposited at 3.5 % interest compounded…

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Q: Anthony invested a sum of money 2 years ago in a savings account that has since paid interest at the…

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Q: How much would you need to deposit in an account now in order to have $6000 in the account in 5…

A: Compound interest

Q: ou put $9,000 in a retirement plan that has 6.2% interest compounded annually. How much will you…

A: Given :               P = 9000               r = 6.2               t = 7

Q: Chris invests $8,000 at 7% simple interest for 31 years. Round your answers to the nearest cent.…

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Q: At your child's birth, you begin contributing monthly to a college fund. The fund pays an APR of…

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Q: Ingrid wants to buy a $16,000 car in 8 years. How much money must she deposit at the end of each…

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Q: Jesse purchases a retirement annuity that will pay him $1,500 at the end of every six months for the…

A: 9years +3 years =12 years r=3.5%t=11n=4 Payment received =1500×2×9+600×12×3=27000+21,600=$48,600

Q: Al the end of each month, $300 is deposited into a savings account paying 2.9% interest compounded…

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Q: A bank features a savings account that has an annual percentage rate of 3 % with interest compounded…

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Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest…

A: From the given information, Consider,  Total deposit at life long Trust Saving and loan =$1000…

Q: Find the final amount of money in an account if $900 is deposited at 3.5 % interest compounded…

A:

Q: How much would you need to deposit in an account now in order to have $4000 in the account in 10…

A: This question is based on Compound interest.