Suppose that a savings account pays interest annually at a rate of 8%. Find the expression for the b). SP - present value which the investor deposits in account initially and each year for the next 20 years she can withdraw $1500 from the account at the end of the year.

Q: Farah borrows $1588 for 5 years at a simple-interest rate of 6%. Then the interest will be: $833.70…

A: in the given question we have to tell about the total intrest money given on$1588 at the simple…

Q: How much of this total is interest?

A: Interest rate per period, r = (5%)/4 = 0.05/4 = 0.0125 Total no. of periods, n = 4*20 = 80   Use the…

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

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Q: Use the future value formula to find the indicated value. FV = $5787; n = 23; i = 0.07; PMT = ? PMT…

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Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: If an amount $2144 at a simple interest rate of 10% for 4 years. Then the simple interest is $. O…

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Q: In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much…

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Q: The Mendez family is considering a mortgage loan of $349,000 at an annual interest rate of 6.95%.…

A: The Mendez family is considering a mortgage loan of $349,000 at an annual interest rate of 6.95%.a…

Q: The installation cost of a machine is $8000 with estimated life of 10 years. If the cumulative…

A: Given : Installation cost = $8000 Cumulative depreciation at the end of 6th year = $2000 Book value…

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest. a)…

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Q: A loan of $1500 is repaid with a check for $1575. If the annual simple interest rate was 6%, what…

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Q: Use the future value formula to find the indicated value. FV $5570; n 18 , i = 0.04; PMT ? PMT $…

A: Given:FV = $5570; n = 18, i = 0.04

Q: Suppose you wish to save $3,720. If you have $3,000 and invest it at 8% simple interest, how long…

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Q: If the present worth of a company is 3000$ with interest rate of 9% for 6 years, the EUAC of the…

A: Given: Present value = $ 3000 Interest rate = 9% Number of periods n = 6 years

Q: Use simple interest to find the ending balance: $43,800 at 4.8% for 2 years     $8004…

A: Formula for simple interest  given P = $ 43,800 r = 4.8% = 0.048 t = 2 years

Q: Raia purchases a finances it with a at a rate of 4.25% car payments?

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Q: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

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Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Let the monthly payment be P . It is provided that future value, A=10000 . The rate of interest, r…

Q: Suppose you want to have $500,000 for retirement in 35 years. Your account earns 9% interest.a) How…

A: (a)Given:

Q: An investor puts £5,000 in a savings account that pays 10% simple interest at the end of each year.…

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Q: Find the amount of simple interest earned for depositing the given principle in an account. P=…

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Q: Suppose that you borrow ​$4000.00 from a friend and promise to pay back $5680.00 in 2 years. What…

A: Formula : Simple interest = PRT/100

Q: Suppose you want to have $700,000 for retirement in 35 years. Your account earns 10% interest. a)…

A: The given information is that the future value is $700,000 and the number of years is 35. The…

Q: ppose you have budgeted $ 1235 a month towards a mortgage. If you are offered a 30 year mortgage at…

A: Given Monthly payment=$1235 N=30*12=360 R=8.25/12=0.6875%

Q: A contractor boughtba concrete mixer at $3200, if paid in cash. The mixer may also be purchased by…

A: Given P=3200 n=5 i=8% =0.08

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 5% interest. a) How…

A: Given: r = 0.05                    5% annual rate k = 12                      since depositing…

Q: a.) How long will it take for P800 to earn P240, if it is invested at 6.5% simple interest?

A:

Q: Suppose you want to have $700,000 for retirement in 25 years. Your account earns 10% interest. a)…

A: The objectives are: a) How much would one need to deposit in the account each month?b) How much…

Q: A $1300 certificate of deposit held for 71 days was worth $1312.31. What simple interest rate was…

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Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: We know that Simple interest = PTR/100 Here Time is 7 years and Rate is 6%  Amount is 20000$. Amount…

Q: If you make $78,300 and get $2700 raises each year, in how many years will your salary double?…

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Q: Rob has 100,000. Invested into a fund that adds 5% per year.  How much will he have in 20 years…

A: Given: Initial amount=100,000 Increasing amount=5% of ininitial amount Time = 20 years

Q: A bank offers all savings accounts 5% interest compounded annually. If one account has a principal…

A: The rate at which the bank is offering interest on saving accounts is 5% compounded annually. One…

Q: If 100,000 php is deposited in a bank that grows 4% interest discretely, how much will it be in 5…

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Q: What is the interest earned on a principle of $250 at 3% interest for 9 years? O $67.5 O $675 O…

A: p=$250 r=3% t=9 years

Q: If an account earns an effective rate of 4%, what will the real rate of interest be if: a.…

A: Here, nominal rate is 4% or 0.04.

Q: You have $10,000 that you are considering whether to invest . If you invest it in an account that…

A: We can make it easier for you

Q: How much would you need to deposit in an account each month in order to have $50,000 in the account…

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Q: You are going to borrow $71,500.00 for 200 days. You are to be loaned the money at an interest rate…

A: Ordinary simple interest is a simple interest that uses 360 days as the equivalent number of days in…

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: Given: The required amount in future is $20,000. The interest rate is 2%. The time duration is 8…

Q: How long will it take for P 35 200 to earn P 7 400 if invested at 5 %% simple interest? What simple…

A: As per answering guideline, we can answer only one question at a time. Please repost other question.…

Q: A man gets a job with a salary of $33,000 a year. He is promised a $2,200 raise each subsequent…

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Q: With 1500.00 I opened a savings account in a bank that offered me a monthly interest rate of 0.5%.…

A: Given: P = $1500.00, r = 0.5% p.m., n = 12

Q: O Suppose me put earning 3%interest for tong will it take (in of $28,000 Round +

A: We will use the concept of Compound interest to evaluate the time.

Q: nd the savings plan balance after 3 years with an APR of 4% and monthly deposits of $400

A: Given that: Monthly deposit = $400 Time = 3 years APR = 4% To determine the balance after 3 years.

Q: Suppose you want to have $800,000 for retirement in 35 years. Your account earns 6% interest. How…

A:

Q: A phone company charges an activation fee of $27.00, plus a cost of  $50.00 for a monthly plan.…

A: Given: A phone company charges an activation fee of $27.00, plus a cost of  $50.00 for a monthly…

Q: A firm buys 12 file cabinets at $140 each, with payment in full due in 90 days. How much must the…

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Q: A person lent P5000.00 to B for 2 years and P3000.00 to C for 4 years on simple interest at the same…

A: We will find out the required rate of interest.