Samuel is going to invest $1,700 and leave it in an account for 16 years. Assuming the interest is compounded daily, what interest rate, to the nearest tenth of a percent, would be required in order for Samuel to end up with $3,100?

Q: Tom wants to have $6,000 in three years. At 4.75% interest compounded monthly, how much does he need…

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Q: Gabriel invested $17,000 in an account paying an interest rate of 3% compounded annually. Assuming…

A: It is compound interest problem for calculating time period.

Q: The cost of a four-year private college education (after financial aid) has been estimated to be…

A: Given data,   Here p is amount invested. This quantity is to be found. t is number of years. Here…

Q: Samuel is going to invest $4,900 and leave it in an account for 14 years. Assuming the interest is…

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Q: To the nearest penny, how much would you have to invest right now in a fund paying 5% continuously…

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Q: What sum must be deposited today at 8 percent per year compounded annually if the goal is to have a…

A: When the interest is compounded, then the formula used is A=P1+rnnt, where, A is the final amount, P…

Q: If 48400 dollars is invested at an interest rate of 5 percent per year, find the value of the…

A: GIVEN  p is principal amount =48400$  r is rate of interest  =5% t is time period =5 years n is the…

Q: How much should she set aside now

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Q: Lily is going to invest $750 and leave it in an account for 18 years. Assuming the interest is…

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

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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: A company needs $8,000,000 in 5 years in order to expand their factory. How much should the company…

A: Solve for investment in each week

Q: Oliver is going to invest $2,500 and leave it in an account for 18 years. Assuming the interest is…

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Q: Pamela invests $16,300 in a savings account for which interest is compounded monthly, and if the…

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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: Amelia is going to invest in an account paying an interest rate of 2.3% compounded quarterly. How…

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Q: Sophia is going to invest $7,900 and leave it in an account for 6 years. Assuming the interest is…

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Q: If $30,000.00 is invested 6 1/4%(six and one fourth percent) compounded quarterly for 8 years, how…

A: Given,            P = $30,000.00  ; r = 614%=254%=0.0625 and time = 8 years

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

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

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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: If the interest is compounded quarterly, find the nominal rate at which P1,996 accumulates to P3,500…

A: Introduction :

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: Anthony is going to invest in an account paying an interest rate of 4.6% compounded monthly. How…

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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: A company needs $4,000,000 in 6 years in order to expand their factory. How much should the company…

A: Given: a company needs $4,000,000 in 6 years to expand their factory.

Q: Suppose that you have opened a saving account with an initial deposit of $8,000. The account offers…

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Q: An investment fund pays 10% per year, compounded quarterly, on all money invested. How much must be…

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Q: If Frank invests $11,400 at 3.7% interest compounded quarterly, how much will his investment be…

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Q: If you invest $3000 at 5% compounded quarterly, how long will it take the account to double in time?…

A: P=3000,  r=5%=0.05,  n=4

Q: How long will it take $10,000 to grow to $15,000 if the investment earns an interest rate of 12% per…

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Q: An investment fund pays 9% per year, compounded quarterly, on all money invested. How much must be…

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

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Q: Ariana is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much…

A: r=3.7%  A=$25000 t=14 years  n=12 (compounded monthly)

Q: Lydia is going to invest $210 and leave it in an account for 17 years. Assuming the interest is…

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Q: If it takes 12 years and 5 months to double your money (compounded quarterly), how long would it…

A: To determine the time t it will take for the investment to double.

Q: John wants to have $40,000 in cash four years from now in order to pay for part of his mortgage on…

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Q: If you have $5000.00 to invest at a rate of 3.5% compounded monthly, how long would it take to save…

A: The savings obtained by investing an amount P at an interest rate of r % (compounded monthly) for t…

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: A company needs $5,600,000 in 8 years in order to expand their factory. How much should the company…

A: To find P if the interest compounded weekly, substitute 5600000 for A, 8 for t, 0.08 for r and 52…

Q: If R8500 is invested in a saving account offering 5.4% per year, compounded semi-annually, the rate…

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Q: What annual rate of interest compounded annually should you seek if you want to triple your…

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Q: If saving account awards interest of 3 percent per year compounded semiannually, what amount must…

A: In case of interest compoundedly semiannual Rate = annual rate/2 Time = 2* annual time Hence rate=…

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: If you were to invest $400 at 3% interest compounded annually or each year, what would be your…

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Q: A company needs $4,300,000 in 14 years in order to expand their factory. How much should the company…

A: Future value of investment, FV=$4,300,000 Interest rate per week, r=9.1%52=0.09152=0.00175 No. of…

Q: A company needs $4,400,000 in 13 years in order to expand their factory. How much should the company…

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