Nancy wants to invest $2000 in saving certificates that bear an interest rate of 9.75% per year, compounded semiannually. How long a time period should she choose to save an amount of $3000? (Round your answer to two decimal places.) yr

Q: f you invest $9,000 in an account that earns an APR of 3% simple interest, what will be the account…

A: for simple interest  P = $ 9000 r = 3% = 0.03 t = 10 years

Q: Nancy wants to invest 2000 in saving certificates that bear an interest rate of 8.75% per year,…

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Q: Howard needs $6000 for a future project. He can invest $4000 now at a rate of 8.5%, compounded…

A: Given that Howard invest $4000 at rate of 8.5% compounded semiannually. To find the time when amount…

Q: You would like to have $900,000 when you retire in 40 years. How much should you invest each quarter…

A: Given:Amount after 40 years, A =$900,000                                 Rate, r =4.5%=0.045…

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Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 12%…

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Q: Cindy plans to invest for 10 years at 1.5%, compounded annually. If she hopes to have $10,000 after…

A: Consider the following information: AmountA=$10,000Rate of interestr=1.5⁒n=1Time periodt=10 years…

Q: Stuart Daniels estimates that he will need $27,000 to set up a small business in 8 years. (a) How…

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Q: 8. How long will it take for the $3200 to double compounded monthly at 3.5%?

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Q: Inez wants to have $19,750 in 4 years. Use the present value formula to calculate how much Inez…

A: The future value is $19,750 and the time period is 4 years. The rate if interest is 7% and is…

Q: Jessica wants to accumulate $11,000 by the end of 6 years in a special bank account, which she had…

A: Formula for finding the future value of the annuity is as follows. FV=P1+rn-1r P is the periodic…

Q: 37500 dollars is invested at an interest rate of 5 percent per year, find the value of the…

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Q: Jamie is planning to invest in a college fund for her granddaughter. She would like the account to…

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Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: Carla wants to start a college fund for her daughter Lila. She puts $63,000 into an account that…

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Q: Jessica wants to accumulate $14,000 by the end of 5 yr in a special bank account, which she had…

A: Given after 5 yaers Jessika needed $14,000 We have to find the how much money Jessica deposit each…

Q: The Martin family has decided to save up for a new swimming pool. They want to save $14,000 in four…

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Q: Pascal receives a financial gift from his grandparents, which he invests at an interest rate of 5.5%…

A:

Q: Jessica wants to accumulate $10,000 by the end of 6 years in a special bank account, which she had…

A:

Q: read question carefully, it says round to the nearest hundred dollars

A: Consider the given information:

Q: Jessica wants to accumulate $14,000 by the end of 5 years in a special bank account, which she had…

A:

Q: You have $2000 in a savings account that pays an annual interest rate of 3.25%. How long will it…

A: Given,  Principal = p = $ 2000 Interest rate = r = 3.25 %  annually Amount = A = 2×2000 = $ 4000 We…

Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

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Q: The interest rate for an investment under $4000 is 5.25%, compounded monthly. a) If $3700 is…

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Q: Mary needs $13000 for a down payment on a new tractor. If she invests her savings of $10000 in an…

A: Topic - term of loan

Q: 4. When Sarah was 7 years old, her parents invested $10 000 for her in a plan that earns 5 % per…

A:

Q: Read question carefully

A: The compound interest formula ( if the interest is compounded on daily basis) is given by:

Q: $450 is invested at a monthly rate of 1% and is compounded monthly. What is the value of the…

A:

Q: You have $1200 to invest in a bank account with an interest rate of 4.5%, compounded monthly. After…

A: P=$1200, r=4.5%=0.045, n=12 & A=$2100

Q: f 2000 dollars is invested in a bankaccount at an interest rate of 6 per cent per year, compounded…

A: 2000 dollars is invested in a bankaccount at an interest rate of 6 per cent per year, compounded…

Q: Kayla is going to invest in an account paying an interest rate of 2.9% compounded monthly. How much…

A: We know the compound interest formula:A=P1+rnntwhere A= Total amount         P=Principle amount…

Q: Charlie invests $11000 into a savings account that grows at an interest rate of 4.5% per year.How…

A: Rate of interest for 1 week = (4.5%)/(Number of weeks) = (4.5%)/52

Q: mr. Gordon plans to invest $300 at the end of each month in an account that pays 12%, compounded…

A: We use annuity formula.

Q: Find the time required for an investment of $12,000 to grow to $26,000 at an annual interest rate of…

A: The formula for accumulated amount is given by, A=P1+rnnt where P is the principal, r is the rate of…

Q: Inez wants to have $15,750 in 3 years. Use the present value formula to calculate how much Inez…

A:

Q: You plan to save money for a down payment of $38,0 can only afford to save $6,000 at the end of…

A: Topic:- compund interest

Q: How long will it take an investment of $2000 to double if the investment earns interest at the rate…

A:

Q: Jerome will be buying a used car for $6,000 in 3 years. How much money should he ask his parents for…

A: Compounding continuously formula:

Q: Jerome will be buying a used car for $7,000 in 2 years. How much money should he ask his parents for…

A: Given:

Q: Nancy wants to invest $4000 in saving certificates that bear an interest rate of 9.75% per year,…

A: Given: Nancy wants to invest $4000 in saving certificates that bear an invest rateof 9.75% per year,…

Q: Jordan invested money in an account that paid interest of 8% per year, compounded semi-annually, for…

A: Compound intrest formula: F=P[1+ (r/n)]yn Where F=future value P=present value r= intrest (/100)…

Q: Ashley heard that he could triple his money in 12 years if he invested it in a large…

A:

Q: A couple needs $60,000 as a down payment for a home. If they invest the $45,000 they have at 4%…

A:

Q: Carly wants to invest $1000 in an account that earns 8% interest, compounded quarterly. How many…

A:

Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 12%…

A: Given: A couple needs $55000 as a down payment foe a home , Therefore, A=55000 is the future value,…

Q: A couple needs $55,000 as a down payment for a home. If they invest the $40,000 they have at 8%…

A: From the given statement it is observed that, the investment of $40,000 at 8% compounded quarterly…

Q: Jerome will be buying a used car for $12,000 in 2 years. How much money should he ask his parents…

A:

Q: Jessica wants to accumulate $10,000 by the end of 5 years in a special bank account, which she had…

A: