Suppose that $5000 is placed in a savings account at an annual rate of 7.6%, compounded quarterly. Assuming that no withdrawals are made, how long will it take for the account to grow to $9305? Do not round any intermediate computations, and round your answer to the nearest hundredth

Q: Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every…

A: It is given that, at age 25, you decide to save for retirement by depositing $95 at the end of every…

Q: Suppose a state lottery prize of $6 million is to be paid in 20 payments of $300,000 each at the end…

A: topic - geometric sequence

Q: Find the present value (in dollars) of an annuity that pays $8,000 at the end of each 6-month period…

A: P = $8000 r = 8% = 0.08 t = 6 years n = 2 [Compounded semiannually] Therefore,

Q: Calculate, to the nearest cent, the present value of an investment that will be worth $1000 if it…

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Q: Find the present value (in dollars) of an annuity that pays $5,000 at the end of each 6- month…

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Q: If $200 is borrowed with an interest of 18.0% compounded monthly, what is the total amount of money…

A: Given: Principal amountP0=$200, r=18% we know that total amountP to pay back is given by…

Q: Keiko deposited $5000 into an account with a 8.6% annual interest rate, compounded semiannually.…

A: Given that, $5000 is deposited into an account with interest rate 8.6% which is compounded semi…

Q: If $80,000 is invested in an annuity that earns 5.8%, compounded quarterly, what payments will it…

A: Step:-1 Formula for annuity PV=P×1-(1+R)-nR Here, PV = present value, P= each payment value, R =…

Q: Suppose that $7000 is placed in a savings account at an annual rate of 4.6%, compounded quarterly.…

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Q: If $3000 is deposited at the end of each half year in an account that earns 6.5% compounded…

A: Given that the annual deposited amount P=$ 3000   Amount of annuity A=$ 130000   Rate of interest…

Q: compounded

A:

Q: Suppose $500 is initially placed in a savings account and $500 is deposited at the end of every…

A:

Q: If $4000 is deposited at the end of each half year in an account that earns 6.2 % compounded…

A:

Q: Suppose that $2000 is loaned at a rate of 9%, compounded monthly. Assuming that no payments are…

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Q: . With a present value of $135000,what is the size of the withdrawals that can be made at the end of…

A:

Q: suppose a state lottery prize of $3 million is to be paid in 20 payments of %150000 each at the end…

A: Explanation of the solution is given below...

Q: Suppose $250,000 is used to establish an annuity that earns 5%, compounded quarterly, and pays $4500…

A: Solution is in next step

Q: Shen deposited $4000 into an account with 5.7% interest, compounded quarterly. Assuming that no…

A:

Q: find the amount owed after  4

A: Given: Initial amount ( p) = $2000  Interest rate (r )= 19.5 % Compounded monthly ( n) = 12

Q: A company wants to have $40,000 at the beginning of each 6-month period for the next 4 1/2 years. If…

A: Given amount =$40,000time = 412 yearrate =6.93%

Q: With a present value of $140,000, what is the size of the withdrawals that can be made at the end of…

A: To find - With a present value of $140,000 what is the size of the withdrawals that can be made at…

Q: With a present value of $150,000, what is the size of the withdrawals that can be made at the end of…

A: given: Pv=150,000 n=10 r=6.3% compounded quaterly

Q: Suppose a state lottery prize of $4 million is to be paid in 5 payments of $800,000 each at the end…

A:

Q: Find the present value (in dollars) of an annuity that pays $7,000 at the end of each 6-month period…

A: The present value of the annuity is given by PV=P1-1+r-nr where P is the periodic payment, r is the…

Q: If you deposit $100 in a bank account that yields an annual percentage rate (APR) of 6%, what will…

A: From the given information, the deposit amount is $ 100.Percentage rate is 6% or 0.06.

Q: A company wants to have 40,000 at the beginning of each 6 month period for the next 4 1/2 years. If…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=40000 n=2 for semiannual…

Q: Jackson deposits $50 at the end of each month in a savings account earning interest at a rate of…

A: Saving plan Formula :F=PMT1+rnnt-1rnwhere F = future valuePMT = Periodic paymentr = annual…

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

A:

Q: At the time of her grandson's birth, a grandmother deposits $11,000 in an account that pays 6%…

A: At the child's 21 st  birthday total amount in account will be $

Q: Find the present value of $10,000 if interest is paid at a rate of 9% per year, compounded…

A: A=P1+rnntFor compounded semiannually, n=2

Q: Your RRSP savings of $50,000 are converted to a RRIF at 4.95% compounded monthly that pays $5,220 at…

A:

Q: Suppose that $4000 is placed in a savings account at an annual rate of 10.8%, compounded monthly.…

A:

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: A payment of $700 is due in 3 years, and $5,000 is due in 5 years. What single payment made today…

A: Solution of given question is written in below steps.

Q: 000, what is the size of the withdrawals that can be made at the end of each quarter for the next 10…

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

Q: Suppose that $2000 is placed in a savings account at an annual rate of 4.2%, compounded monthly.…

A:

Q: Find the present value (in dollars) of an annuity that pays $7,000 at the end of each 6-month period…

A: Find the present value (in dollars) of an annuity that pays $7,000 at the end of each 6-month period…

Q: A company estimates that it will need $161,000 in 18 years to replace a computer. If it establishes…

A: Use formula of compound interest

Q: Suppose a state lottery prize of $6 million is to be paid in 20 payments of $300,000 each at the end…

A: Formula:

Q: With a present value of $150,000, what is the size of the withdrawals that can be made at the end of…

A: Present value is $150,000 So, R=150,000 Money is worth 6.9% compounded quarterly. Therefore,…

Q: Suppose $250,000 is used to establish an annuity that earns 5%, compounded quarterly, and pays $4500…

A: P = 250000 r = 0.05/4=0.0125 PMT = 4500

Q: A company wants to have $30,000 at the beginning of each 6-month period for the next 4 1/2 years. If…

A: Let P be the amount invested now in the annuity that earns 6.43% compounded semiannually. Let R be…

Q: A bank is offering a special four-year investment certificate paying 3.5% per year, compounded…

A: We can solve it by the mathod of finding compound interest.

Q: The managers of a pension fund have invested $1.5 million in U.S. government certificates of deposit…

A:

Q: A zero coupon bond with a face value of $23,000 matures in 14 years. What should the bond be sold…

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Q: Suppose $20,000 is deposited into an account earning 2.5% annual interest, find the balance at the…

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Q: Suppose a state lottery prize is worth 7 million is to be paid in 10 payments of $700,000 each at…

A:

Q: A corporation established a sinking fund to discharge a debt of $150,000 in 7 years. If deposits are…

A: Total debt to be paid = 1,50,000$ in 7 years  Interest = 5.2% compounded yearly Amount of each…

Q: Suppose $200,000 is used to establish an annuity that earns 4%, compounded quarterly, and pays $6500…

A: