Question Dylan invested $2,790 for 271 days at a simple interest rate of 2.75% p.a. How much more or less interest would she have earned on the investment if her money was growing at a simple interest rate of 3.50% p.a. instead of 2.75% p.a.? Round to the nearest cent

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 4.8%. You want to have…

A: Given that APR=4.8% , amount needed=$18,000 and time t=3 years. We need to find how much need to…

Q: To buy a Treasury bill (T-bill) that matures to $10,000 in 6 months, you must pay $9710. What annual…

A: (a)  Consider the price of a Treasury-bill that (T-bill) that matures to $10,000 in 6 months is…

Q: Question Pablo borrowed $50,000 to start a business. Three years later, he repaid the $50,000 along…

A: Here the principal amount is $50,000. Time is 3 years and the final amount repaid is $59,375. Amount…

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

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Q: When 12.000 Lira is deposited in the bank with 20% interest rate for three months, how many Lira…

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Q: A student has a savings account earning 9% simple interest. She must pay $1500 for first-semester…

A: Between September 1 to January 1 there are 4 months, or 1/3 years. The annual rate of interest , r =…

Q: Find the final amount of money in an account if $4, 400 is deposited at 6.5 % interest compounded…

A: Given  principal Amount(P)=$4,400 Interest compounded annually (r %)=6.5% time period(T)=8 years To…

Q: Suppose you want to have $600,000 for retirement in 20 years. Your account earns 9% interest. How…

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Q: You deposit $2000 each year into an account earning 3% interest compounded annually. How much will…

A: Given query is to find the amount in the account after 30 years.

Q: Person A deposits $2600 in an account that pays 7% interest compounded once a year. Person B…

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Q: Roslyn plans to use her savings to pay for a holiday. The holiday will cost $6000.  What minimum…

A: Sol

Q: Paying 13 mortgage payments instead of 12 per year can save you thousands and interest cost. If you…

A: This problem is solved using PMT rule.

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: Appa deposits $4000 in an account earning 3.6% interest compounded monthly. How much will Appa have…

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Q: John Lee's savings account has a balance of $716. After 3 years, what will the amount of interest be…

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Q: Find the final amount of money in an account if $1, 600 is deposited at 6.5 % interest compounded…

A: Given  Principal = $1600 rate = 6.5% time = 5 years  Compounded weekly.

Q: A student has a savings account earning 9% simple interest. She must pay $1200 for first-semester…

A: Given The simple interest on a savings account of a student is 9% and tuition bill for the first and…

Q: You deposit $100 each month into an account earning 3% interest compounded monthly. You should show…

A: Given Initial deposite PV=$100Monthly interest i=3%=0.03Time t=20 years

Q: On February 1, 2020, Love borrowed P400,000 for additional working capital from Prime Lending at 8%…

A: The simple interest, I, is calculated using the formula, I=Prt , where, P is the principal amount, r…

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 4% interest. Round…

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Q: The Bainters are considering a rental home with $1,190 monthly rent at move-in with a 1.7% increase…

A: If an amount A increases at the rate of R% annually then its value after n years is given by the…

Q: d. How much interest will they have paid? e. How many of the monthly payments go towards the…

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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: A 6 year bond costs $2.000 and will pay a total of $200 interest over its lifetime. What is its…

A: If you like the solution then please give it a thumbs up.... The Answer is:           Rate :    r =…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 8% interest. Round…

A: The answer is given as follows

Q: Question  A total of $5400 is invested, part at 12% simple interest and part at 7%. If the total…

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Q: Engr Andrewversace loans from a loan firm an amount of P100,000 with a rate of simple interest of…

A: Given amount 100,000 loans from a firm with rate of simple interest 20% but the interest was…

Q: (a) To buy a Treasury bill (T-bill) that matures to $10,000 in 6 months, you must pay $9800. What…

A:

Q: Self-employed persons can make contributions for their retirement into a special tax-deferred…

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Q: An investor deposits 3,500 into an account paying 8% compunded semiannually. Two years later she…

A: Here we find compound money upto 7 year.

Q: Find the balance of an account that starts with $12,000 at a 4.8% annual interest rate after 7…

A: Given  Principal P= $12000 Rate of interest = 4.8% = 0.048 Time T = 7 years.  We have to find the…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 4.8%. You want to have…

A: Given that APR=7.2% Amount=$11000 Number of years=3 Amount to be deposited each month=?

Q: Ed's new car has a value of $23,500, but it is expected to depreciate at a rate of 7.5% per year.…

A: Ed's new car has a value of 23500$ Depreciation rate is 7.5% per year. We have to calculate value of…

Q: Suppose you want to have $500,000 for retirement in 20 years. Your account earns 6% interest. Round…

A: Given A=$500000 , t=20=n , r=6% , I=0.06 . To find the monthly payment .

Q: You decide to contribute to a mutual fund that averages 5.1% return per year. If you contribute $575…

A: Consider a contribution made to a mutual fund which returns on an average of 5.1% per year. A…

Q: 3. Sheren makes quarterly payments of $750 into an account that pays 7% per year, compounded…

A: We will find out the required value.

Q: t your budget and decide that you can afford $260 per month for a car. What is the maximum loan you…

A: As it is given,  You look at your budget and decide that you can afford d =  $260 per month for a…

Q: Suppose you want to have $800,000 for retirement in 20 years. Your account earns 10% interest. Round…

A: To calculate interest earned and the periodic payment that need to deposit to have 800,000 for…

Q: your goal is to create a college fund for your child. suppose you find a fund that offers an APR of…

A: Thanks for the question :)And your upvote will be really appreciable ;)

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

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Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 8.4%. You want to have…

A: Given:APr=8.4%=0.084monthly rate=0.05412=0.007P=$16000n= 3years

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: s the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more…

A: Annuity due can be contrasted with an ordinary annuity where payments are made at the end of each…

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: 9. Ed McLemore lends $1680 at a rate of 8.2%. Find how long it will take for his investment to earn…

A: We have principal amount = $1680 and rate, r= 8.2% let's say time is in years and is equal to t…

Q: You deposit $2000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Given:    A = 2000    t = 10   r = 5% = 5/100 = 0.05  Compound Monthly : n = 12

Q: Mr. and Mrs. Revilla decided to sell their house and to deposit the fund in a bank. After computing…

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Q: Michelle invests in a savings account that pays 8% interest compounded monthly. What is the APY for…

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Q: Find the final amount of money in an account if $1, 800 is deposited at 7.5 % interest compounded…

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