Parents agree to invest $700 (at 10%, compounded semiannually) for their son on December 31 or June 30 following each semester that he makes the dean's list during his 4 years in college. If he makes the dean's list in each of the 8 semesters, how much money will his parents have to give him when he graduates?

Q: If you borrow $700 for 6 months at 2% annual simple interest, how much must you repay at the end of…

A: As we know that the formula of the simple interest is:   Simple interest =I=P×r×t   Where,…

Q: Adam wishes to have ​$16,000 available in 22 years to purchase a new car for his son as a gift for…

A:

Q: Parents wish to have $80,000 available for a child's education. If the child is now 5 years old, how…

A: The formula for the compound interest is given by, A=P1+rnnt where, A is the final amount, P is the…

Q: Gertrude wants to make $500 monthly withdrawals for 10 years from an account which pays 4%…

A: Given Information: Gertrude wants to make $500 monthly withdrawals for 10 years from an account…

Q: Gallant invests starting at age 25 until he retires at age 65. If he invests $2400 each yearat 9.6%…

A: J

Q: John and Rosamond Want to retire in six years and can save $190 every three months. They plan to…

A:

Q: You have $10,000 in a bank. If you get 4% compounded monthly and withdraw $400 at the end of each…

A: You have $10,000 in a bank. If you get 4% compounded monthly and withdraw $400 at the end of each…

Q: How much should Rebecca have in a savings account that is earning 3.50% compounded semi-annually, if…

A:

Q: A man deposits $ 36,200 into a bank, which pays 12% interest that is compounded quarterly. What will…

A:

Q: The adult children of a college professor are endowing a scholarship fund in their father’s name.…

A: Given that, Present value = P = $1000 Interest rate = r = 6% = 0.06 Time = n = 3years

Q: Olivia was receiving rental payments of $2,000 at the beginning of every month from the tenants of…

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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…

A:

Q: A family wants to have a $170,000 college fund for their children at the end of 17 years. What…

A:

Q: Jasica Parker would like to have $95,000 to buy a new car in 6 years. To accumulate $95,000 in 6…

A: Given data: Amount Jessica would like to have=$95,000 Number of years =6 Annual rate of interest of…

Q: The Pirerras are planning to go to Europe in 3 years, and have agreed to set aside $150 per month…

A:

Q: An investment fund pays 5% per year, compounded semi-annually, on all money invested. How much must…

A:

Q: Liz wants to accumulate at least $40,000 by depositing $900 at the end of each month into a fund…

A: As the interest rate is compounded monthly:   Part (a):   Future value for the annuity is computed…

Q: The Pierras are planning to go to Europe 3 years from now and have agreed to set aside $180/month…

A: Given  The periodic payment $180 per month Periodic interest rate is 2%/year periods per year is 12…

Q: The Jones want to save $51,000.00 in 2 years for a down payment on a house. If they make monthly…

A: FV=PMT1+rnnt-1rn FV=51000 t=2 years r=3%=0.03 n=12 for a monthly payment

Q: d) Sofea is saving for the down-payment on a house and plans to buy the house in 3 years. How much…

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

Q: A man inherited a regular endowment of ₱ 100,000 every end of 3 months for n years. However, he may…

A: Given Amount A=P100000period n=n years=4n quarters.i=14%=14100×14=0.035 quarterly

Q: 3. Francisco invest $10,500 at a annual rate of 6% compounded monthly per year. How much money will…

A: Given, P=$10,500 r=6% t=8 years Compounded monthly

Q: For a certain multi-state lottery the prize was $21,600,000 that was paid out over 30 years with…

A:

Q: If you borrow $600 for 18 months at 8% annual simple interest how much must you repay at the end of…

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Q: In order to have P1 million in a fund at the end of 15 years. how much must be deposited in the fund…

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

Q: 3. I want to save $5,000 for a down payment on a car. To the nearest dollar, how much will I need to…

A:

Q: 18. The APR of Bessie's savings account is 6%, and interest is compounded monthly. If the principal…

A:

Q: 2. Suppose Carlo has P34,500 to invest but wants P40,000 for a new pair of branded rubbershoes. He…

A:

Q: At the birth of their child, how much should a couple invest to have $20,000 on the child's 18-th…

A: The principal investment required to get a total amount of $20,000.00 from compound interest at a…

Q: 2.) Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of…

A: Amount=$150,000 Present value=$1000 Rate of interest =5% compounded quarterly.…

Q: A family wants to have a $180,000 college fund for their children at the end of 18 years. What…

A:

Q: A student takes out a college loan of $4000 at an annual percentage rate of 6%, compounded monthly.…

A:

Q: Parents agree to invest $600 (at 8%, compounded semiannually) for their son on the December 31 or…

A: Given:Principal amount =P=$600Rate of interest =r=8% semiannuallyTime=t= 4 yearsNumber of…

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

A:

Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Given:  P=$1,000,000r=6.7%=0.067n=2t=12 year To determine: The amount that can be withdrawn from…

Q: If you invested $300 now at 6.5% interest compounded monthly, how much money do you have available…

A:

Q: Calculate the amount of money Cynthia had to deposit in an investment fund growing at an interest…

A: To find out the amount of money that Cynthia has to deposit.

Q: Dawson is saving for a down payment to buy a house. The account earns 2.5% interest compounded…

A:

Q: (d) If found a bank that paid 6% interest compounded annually rather you than 5%, how much (in $)…

A: We will use compound interest formula and solve this.

Q: A man living abroad for 2 years wants to buy an ordinary annuity that will provide monthly payments…

A: The parents will receive  $750 each monthover the 2 years his parents receive the money…

Q: A young, investing-savvy artist plans to retire in 30 years and is planning to save $1,000 every…

A:

Q: How much should Shane have in a savings account that is earning 2.50% compounded monthly, if she…

A: Given information Regular withdraw d=$1,900 Interest rate r=2.50% ⇒r=2.50100=0.025 Number of…

Q: Jasica Parker would like to have $46,000 to buy a new car in 7 years. To accumulate $46,000 in 7…

A: Given that, A=$46,000, t=7 years, n=12, r=3%=0.03 We have to find, how much she must invest monthly…

Q: A student takes out a college loan of $6000 at an annual percentage rate of 3%, compounded monthly.…

A:

Q: A man pays P 129,254  every end of six (6) months for a car bought on installment terms. If the man…

A:

Q: If an investment company pays 6% compounded semiannually, how much should you deposit now to have…

A: Compound interest formula:

Q: Maryam is planning to invest P150,000. Bank A is offering 7.5% compounded semi- annually while Bank…

A: The principal will be equal to 1,50,000 . From bank A , The rate = r               =7.5%…

Q: A student takes out a college loan of $6000 at an annual percentage rate of 5%, compounded monthly.…

A: GIVEN: Student takes out a college loan of $6000 Rate = 5% monthly

Q: John makes annual deposits of $1600 to an an IRA earning 7% compounded annually for 16 years. What…

A:

Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.