Oliver invested $53,000 in an account paying an interest rate of 2.7% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 20 years?

Q: Audrey is going to invest in an accour paying an interest rate of 5.7% compounded daily. How much…

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Q: How much did Speedy Movers borrow for a debt that accumulated to $51,238.44 in four years? The…

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Q: an insurance settlement of 750,000 must replace an injured workers income for the next 40 years.…

A: Given that, The insurance settlement amount, P=750,000. The rate of interest, r=6.2%. The time…

Q: How much should Linda Bryan set aside now to buy equipment that costs ​$8,000 in one​ year? The…

A: For simple interest, the amount formula is, A = P + PRT100 and for compound interest, the formula is…

Q: If you have $5000,00 to invest a rate of 3.5% compounded monthly, how long would it take to save…

A: Given investment(P) = $5,000.00 interest rate(r) = 3.5% per annum Final amount(A) = $15,000.00 The…

Q: Josh deposited $4000 into an account with 4.4% interest, compounded semiannually. Assuming that no…

A: Given: P= $4000                   r=4.4% =0.044              n=2 (semiannually)               t=6…

Q: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: Steve decided to deposit $4,680 into a savings account with 6.5% interest, compounded quarterly.…

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Q: Nolan invested $5,300 in an account paying an interest rate of 3.8% compounded annually. Assuming no…

A: The formula for the compound interest is: A=Pert Given that P=5300, A=6880 and r=3.8%  =3.8100…

Q: Mason invested $65,000 in an account paying an interest rate of 4.6% compounded annually. Assuming…

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Q: Grace invested $5,200 in an account paying an interest rate of 4.6% compounded daily. Assuming no…

A: Given; Principal,P=$5200 Time,t=11 years Rate,r=4.6% compounded daily.

Q: Rochelle invested $100 at the end of every month into an RRSP for 11 years. If the RRSP was growing…

A: Given information Initial principal balance P=$100 Rate of interest r=4.60% ⇒r=4.60100=0.046 Period…

Q: Levi invested $5,300 in an account paying an interest rate of 2.4% compounded daily. Assuming no…

A: topic - exponents

Q: If Landon invests $3,000 in a 6-year certificate of deposit at the annual rate of 7.75%, compounded…

A: Let A be the amount of future value of investment,then A can be calculated as follows

Q: Alan deposited $6000 into an account with a 5% annual interest rate, compounded semiannually.…

A: A(t)=P1+rnntP is the deposited amountr is the ratet is the timeA is the amount after time ,t

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: Lena deposited $6000 into an account with a 11% annual interest rate, compounded pemiannually.…

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Q: If money earns 3.72% compounded quarterly, what single payment in three years would be equivalent to…

A: topic - compound interest

Q: Ian invested $90,000 in an account paying an interest rate of 2.6% compounded quarterly. Assuming no…

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Q: Austin invested $200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no…

A: Austin invested $200 in an account paying an interest rate of 6.1% compounded quartely.

Q: How much would you need to deposit in an account now in order to have 5000 in the account and 10…

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Q: Noah invested $8,600 in an account paying an interest rate of 2.4% compounded monthly. Assuming no…

A: Use the directly formula for compound interest.

Q: Tony Ring wants to attend Northeast College. If he deposits $59,528 today, how much will he have 5…

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Q: Paisley is going to invest $28,000 and leave it in an account for 14 years. Assuming the interest is…

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Q: If you were to invest $800 at 8% interest compounded annually or each year, what would be your…

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Q: Jeremiah invested $70,000 in an account paying an interest rate of 6.8% compounded daily. Assuming…

A: A=$99000  P=$ 70000 r=6.8%=0.068 n=365 ( compounded daily)

Q: An amount of $44,000 is borrowed for 8 years at 4.75% interest, compounded annually. If the loan is…

A: A=P(1+r)t P is the amount borrowed.r is the rate of interest.t is the time.

Q: Carter invested $16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming…

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Q: If you invest $10,000 at an interest rate of 3.2% compounded monthly, when will your investment be…

A: Initial amount=P=$10000Final amount=A=$15000Interest rate=r=3.2%=0.032Time=t=?Number of times…

Q: Adrian invested $7,200 in an account paying an interest rate of 3.1% compounded monthly. Assuming no…

A: P=$7,200,  r=3.1%=0.031,  A=$12,110,  n=12

Q: An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded annually. If the loan is…

A: Given information:- An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded…

Q: If Amy needs $15,000 in years 6 for a down payment on a home how much should be invested today at…

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Q: Find the amount we would need to deposit today as a lump sum to achieve $420,000 in 30 years at 6%…

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Q: Dylan invested $47,000 in an account paying an interest rate of 4% compounded annually. Assuming no…

A: Formula: The compound interest formula is given by, FV=PV1+rnnt Given: FV=$79,200, PV=$47,000, r=4%,…

Q: At the time of her grandson's birth, a grandmother deposits $13,000 in an account that pays 3.5%…

A: a) Grandmother deposits (P) is $13,000. Interest rate is, 3.5%. That is r = 3.5/100 = 0.035. Number…

Q: Damian invested $880 in an account paying an interest rate of 5.2% compounded annually. Assuming no…

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Q: How much will you have after 25 years if you put $2000 per month in the account that instead earns…

A: The solution is given below:

Q: Nathan invested $3,500 in an account paying an interest rate of 3.5% compounded quarterly. Assuming…

A: Initial amount=P= 3500  Final amount=A=? Time= t=19 years  Interest rate=r= 3.5%= 0.035  Number of…

Q: If John invests $2300 in a savings account witha 6% interest rate compounded annually, how long will…

A: To find the no of years

Q: A newborn child receives a $7,000 gift toward a college education from her granparents. How much the…

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Q: How much must a person put into the bank today if he wants $50,000 in 5 years at 6% compounded…

A: Sol

Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

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Q: Francine currently has $45,000 in her 401k account at work, and plans to contribute $3,000 each year…

A: We need to find total amount accumulated.

Q: Shawn invested $130 at the end of every month into an RRSP for 13 years. If the RRSP was growing at…

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Q: Blue Spruce Motel will need to replace all of its bedding in six years, at a cost of $20,000. How…

A: Blue Spruce Motel will need to replace all of its bedding in six years, at a cost of $20,000.

Q: How much did Speedy Movers borrow for a debt that accumulated to $51,034.26 in four years? The…

A: Given, Amount(A)= $ 51034.26 t= 4 years r= 3.25%= 0.0325 n= 2(semi-anually)

Q: find the value of a $3000 certificate in 2 years, if the interest rate is 10% compounded annually…

A: Formula used;-          Amount = Principal(1+rate/100) n(no.of years)

Q: Sarah invested $3,800 in an account paying an interest rate of 3.6% compounded daily. Assuming no…

A: Given:  Sarah invested $3800 in an account paying an interest rate of 3.6% compounded daily.  To…

Q: Madison invested $3,300 in an account paying an interest rate of 6.7% compounded daily. Assuming no…

A: The given data is: Medison invested P=$3300 Rate of interest R=6.7% Time t=5 years To find the…

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

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