Parents wish to have $150,000 available for a child's education. If the child is now 3 years old , how much money must be set aside at 4% compounded semiannually to meet their financial goal when the child is 18?

Q: If you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: Here I am attaching image so that you understand each and every step.

Q: With a present value of $130,000, what is the size of the withdrawals that can be made at the end of…

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Q: If you borrow $1,700 for 4 years at 5% annual simple interest, how much must you repay at the end of…

A: Given, If you borrow $1,700 for 4 years at 5% annual simple interest, how much must you repay at the…

Q: You receive a loan of $22,000 for 24 months at 5.2% compounded semiannually? How much interest is…

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Q: Parents wish to have $110,000 available for a child's education. If the child is now 9 years old,…

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Q: Jaspreet set up a fund that would pay his family $4,500 at the beginning of every month, in…

A: We can evaluate the following as follows

Q: How much money will be in your account three years after the previous deposit? If you make six…

A: The given data is: P=$2000 r=10%t=3 years Given that compounded semi-annually, therefore Interest…

Q: Suppose you purchase a car and you are going to finance $14,000 for 48 months at an APR of 6.6%…

A: Given:  Finance amount (P)=$14,000             Time (t)= 48 months= 4 years             Interest…

Q: Millet wants to provide a 200,000 graduation gift for her daughter Mae who is now 16 years old. She…

A: Given: A=200,000R=10%T=4 years We have to find principal (P) we know that A=P1+rnnt ...(i) here…

Q: 5. If you deposited $1500 into an account that paid 2% interest, compounded monthly, what would be…

A: Please refer to the image below

Q: Alain Dupre wants to set up a scholarship fund for his school. The annual scholarship payment is to…

A: Given Amount=$2300 Rate of interest=3.3%

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

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Q: After putting down 20% of $110,000 on a house and paying an interest rate of 3.5% compounded…

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Q: Ann and Tom want to establish a fund for their​ grandson's college education. What lump sum must…

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Q: A woman wants to borrow $12,000 to buy a car. She wants to repay the loan by monthly installments…

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Q: (a) If you invest $5,000 in an account that earns an APR of 3% with quarterly compounding, what will…

A: P = 5000 APR = 3% t = 10 year

Q: Juan Dela Cruz wants to deposit P5, 000 every quarter at 16% compounded quarterly for 5 years. How…

A: Compound Interest: A=P(1+rn)nt P: the principal, amount of deposit  A: the new balance  t: the time…

Q: Devin set up a fund that would pay his family $3,500 at the beginning of every month, in perpetuity.…

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Q: The winner of a "million dollar" lottery is to receive $50,000 plus $50,000 at the end of each year…

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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: An employee wants to retire and receive 5 000 a month. She wants to pass this monthly payment to…

A: The provided information is  A=5000 i=8%=0.08 The the formula for perpetuity is  P=AiA=the interest…

Q: With a present value of $135,000, what is the size of the withdrawals that can be made at the end of…

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Q: A college plans to set up an endowment fund that will provide a scholarship of $5,000 at the end of…

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Q: By the conditions of a will, the sum of P25,000 is left to a girl to be held in a trust by her…

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Q: (a) If you invest $8,000 in an account that earns an APR of 4% simple interest, what will be the…

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Q: With a present value of $125,000, what is the size of the withdrawals that can be made at the end of…

A: The present value P = $125,000 Time t = 10 years Rate r = 7.8% compounded quarterly To find amount

Q: An insurance settlement of $1 million must replace Trixie Eden's income for the next 40 years. What…

A: Consider the given: Presentvalue=$1millionTime=40yearsInterest=7.4%=0.074 As, we know that:…

Q: An insurance settlement of $750,000 must replace Laura's income for the next 40 years. What income…

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

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Q: Marlon Dela Cuesta spends P850 per month in cigarettes. If he stops smoking and invest the same…

A: As per our guidelines, we are supposed to solve only first question. Kindly repost other question as…

Q: The winner of a "million dollar" lottery is to receive $30,000 plus $30,000 at the end of each year…

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Q: Meg's pension plan is an annuity with a guaranteed return of 7.5% per year compounded quarterly. She…

A: First we calculate present value using formula of present value then obtained present value will…

Q: A man is disabled in an accident and wants to receive an insurance payment that will provide him…

A: Use the formula for the present value is given below A=P1−1+rn−ntrn...….(1) Here, P=$2500 Rate of…

Q: A collector mae a $10,000 down payment for a classic car and agreed to make 18 additional quarterly…

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Q: A homeowner planning a kitchen remodeling can afford a $700 monthly payment. How much can the…

A: The compound interest formula is defined as follows. A=P1+rnnt   where, A is the final amount P is…

Q: Erin would like to buy a $350,000 apartment when she retires in 10 years. How much should she…

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Q: Suppose you deposit $500 at the end of each quarter into an account that pays 3% annual…

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Q: For her​ daughter's education, Georgina Harcourt has invested an inheritance in a fund paying 7.4​%…

A: Given: PMT=$146 Number of years = 9 Total number of months n=9 x 12 =108 Interest=7.4% annually…

Q: To help pay for Arthur's estimated $33,000 in college expenses, Ryann and Austin make a deposit into…

A: Let, Ptincipal(P)= Semi-annual deposit (R)= x Given, Amount (A)=$ 33000 Rate of interest (i)= 8%…

Q: What lump sum do parents need to deposit in an account earning 7% compounded monthly, so that it…

A: For compunded monthly, we have take n value as 12.

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

A: Here we will use the recurring deposit formula for calculating the compound interest. Sum of the…

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

A: Compound interest formula:

Q: Suppose you signed into an 8-year loan which is compounded annually at 7%. How much will you pay if…

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Q: The winner of a "million dollar" lottery is to receive $70,000 plus $70,000 at the end of each year…

A: Use formula of compound interest to calculate future value

Q: Mr. Samal deposits 5,000 php at the end of each month at a product with an interest rate of 8%…

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Q: How much must be placed each month into a retirement account earning 14% compounded monthly if the…

A: Given, r= 14% A= $1000000 t= 35 years n=12 (compounding monthly)

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

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