Stephen sets up an IRA with an APR of 4% at age 26. At the end of each month, he deposits $57 in the account. How much will the IRA contain when he reaches 65? Compare that amount to the total amount of deposits made over the time period

Q: Mathew borrows $200, agreeing to pay it back with 6% interest after 20 months. How much interest…

A: Given principal=P=$200, interest rate=r=6% and  time=20/12 years to find interest

Q: The value of the car depreciates at 10.75% per year. What will the value of the car be, to the…

A: In this question given with initial amount and the depriciation of the car per year we have to find…

Q: Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time.…

A:

Q: Josephine owns a flower shop. Every Valentine’s Day, the rate of mark-up based on the selling price…

A: Given that, The rate of mark-up based on the selling price of a bouquet of roses is 10%. The cost…

Q: Kenya has $121,000 to invest. She puts some of it into an account paying an interest rate of 9% per…

A:

Q: A friend has an IRA with an APR of 6.75% She started the IRA at age 20 and deposits $80 per month.…

A:

Q: the

A:

Q: Peyton opened a savings account with $1800 that pays no interest. She deposits an additional $200…

A:

Q: Joy invests a total of $22,000 in two accounts. The first account earned an annual interest rate of…

A: Joy invests a total of $22,000 in two accounts. The first account earned an annual interest rate of…

Q: An investment club placed $24,000 into two simple interest accounts. On one account, the annual…

A:

Q: Jamie wants a new smart TV/sound system that cost $1,250. He doesn't have that much in cash to…

A: We need to find payment in interest over 4 years.

Q: You invested $20,000 in two accounts paying 7% and 9% annual interest. If the total interest earned…

A:

Q: ance placed $5200 in an investment account with a 6.5% interest rate. After how many years will he…

A: We have,P=$5200R=6.5%Find in how many years P will be 2P

Q: A raffle is being held to benefit the local animal shelter.  They sell 756 tickets that do not win…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

Q: Kathryn works as a real estate broker in New York City. She makes a base monthly salary and on top…

A:

Q: kample 3 Darnel owes a total of $3060 which includes 12% interest for the three years he borrowed…

A:

Q: A corporate bond paying $3,000 after 24 weeks earns 0.02% simple interest per week. How much did it…

A: Substitute 3000 for A, 24 for t and 0.02% for r in the simple interest formula A=P1+rt, an simplify.…

Q: Your interest rate on a $1,500 savings account is 4%. How much simple interest will the account earn…

A: Given information P=$1,500 r=4% ⇒r=4100=0.04 t=2 years We have to find the simple interest will the…

Q: Ken wants a $1000 TV/sound system. He can't afford that amount so he uses his credit card with 20%…

A: First of all, consider the SI formula for the calculation of the interest monthly. Principal amount…

Q: Samantha invests a total of $21,000 in two accounts. The first account earned an annual interest…

A: Given query is to find the amount invested in each account.

Q: Mathalino deposits 18,000 pesos into an account earning 3% interest per annually. How much money…

A: Given:  Mathalino deposits 18000 pesos into an account earning 3% interest per annually. To Find:…

Q: Dave and Ellen are newly married and living in their first house. The yearly premium on their…

A: The answer is attached below,

Q: A car is purchased for $29,000. Each year it loses 25%  of its value. After how many years will the…

A:

Q: Carlos deposits $600 into an account that pays simple interest at a rate of 2% per year. How much…

A:

Q: Graduation is 3 years away and you want to have $1300 available for a trip. If your bank is offering…

A: Given,           Amount, A = $1300,            Rate, r=2.2% =0.022           Time, t =3

Q: The Jazz Band needs to raise at least $600 to travel co an upcoming competition. The members of the…

A: Since you have asked multiple question, we will solve the first question for you as per our guide…

Q: After working for five years, your friend is now being paid $42,000. Your friend told you that he…

A: Topic = Sequence

Q: Robin invested $1000 in a 12% simple interest savings deposit for 3 years. He also invested an equal…

A: Robin invested $1000 in a 12% simple interest deposit for 3 years. he also invested an equal amount…

Q: Last year, Sally was making $12,000 more a year than Willy. Sally then received a 10% raise while…

A: Given that  Sally earns $12000 more than willy. After receiving the raise Sally earns $ 10860 more…

Q: An investment pays simple interest, and triples in 17 years. What is the interest rate

A:

Q: Nicole opened a savings account with $5000 and was paid simple interest at an annual rate of 2%.…

A:

Q: Miguel deposits ₱135,500 in a savings account that pay 13% interest converted semi-annually. If he…

A:

Q: The baby giraffe weighed 132 pounds at birth. He gained weight at a steady rate for the first 7…

A: This is a basic algebra problem

Q: Gity Bank offers a 4.75% simple Interest rate, while First National offers 3.9%. If Tom wants to set…

A:

Q: Eli opened a savings account with a one-time deposit of $400. The savings account pays a simple…

A:

Q: Mrs. Peters needed to raise money to bring her class to the Air and Space Museum in Washington, D.C.…

A: class was raising an average of $55 every day from online donations.   after he posted a story class…

Q: A friend has an IRA with an APR of 3%. She started the IRA at age 30 and deposits $125 per month.…

A: Use the formula of future value to determine the value of IRA.

Q: A car was valued at $34,000 in the year 2009. By 2013, the car value had depreciated to $12,000. If…

A:

Q: Sharon wants to have $10,000 after 8 years. How much should she deposit in a 4.5% saving account in…

A: The formula for amount using the compound interest is A=p(1+rn)nt. Here, p is the principal, r is…

Q: Destiny's investment account was valued at $15,000 but then lost 17% of its value. What percent…

A: Destiny's investment account valued at $15000 => Initial value = 15000 Lost by 17% of its value.…

Q: Pierre inherited $251,600 from his uncle and decided to invest the money. He put part of the money…

A:

Q: Your aunt invests $400 into a savings account to help you pay for college textbooks. The savings…

A:

Q: Christopher opened a savings account with $1800 that pays no interest. He deposits an additional $90…

A:

Q: In planning her​ retirement, Liza deposits some money at 1.5​% ​interest, with twice as much…

A:

Q: Mikayla invests $2000 in one account and $900 in an account paying 3 % higher interest. At the end…

A: Basics  of Simple interest.

Q: Ferdinand saved 10 pesos on the first day of the year , 12 pesos on the second day , 14 pesos on the…

A: Sequence: It is a function having a collection of objects that have a certain pattern with which the…

Q: Dave and Ellen are newly married and living in their first house. The yearly premium on their…

A: Given: The yearly premium on homeowner's insurance policy is $600. The discount offered is 8% if the…

Q: laptop computer is purchased for  $2350 . After each year, the resale value decreases by  35% .…

A:

Q: An account executive deposited $54,000 into two simple interest accounts. On the tax-free account…

A: Let's find.