Suppose that you can invest money at 4% interest compounded monthly. How much should you invest in order to have $20,000 in 2 years? Round your answer to the nearest cent

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 5…

A: From the provided information is  Present value=Amount*(1+rate)-period  PV=3000*(1+(0.066))-6*5…

Q: An amount of $43,000 is borrowed for 6 years at 6.5% interest, compounded annually. If the loan is…

A: Interest is compounded annually, therefore n=1

Q: Suppose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be…

A: Given that, Annual Amount=$31 Annual rate of interest=5.7% r=0.057 Time (T) = 2015-1626 T=389 years…

Q: What interest will be earned if $6600 is invested for 2 years at 10% compounded monthly? (Round your…

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Q: you deposit $5,000 in a fund that pays 6% interest, compounded monthly. In how many years, the…

A: Given that initial amount = P=5000 Final amount= A= 15000 Interest rate = r = 6%=0.06 Time=t=?…

Q: What interest will be earned if $6000 is invested for 5 years at 13% compounded monthly? (Round your…

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Q: You have decided that you would like to save $10,000 to build a house in the next 10 years. If you…

A: NOTE: Refresh your page if you can't see any equations. . here we have the future value is A=10000…

Q: A year-end bonus of $25,000 will generate how much money at the beginning of each month for the next…

A: Given that the year-end bonus is $25,000 that can be invested at 6.15% compounded monthly.

Q: If $13,500 is invested at 8% compounded quarterly, how much will this investment be worth in 24…

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Q: If $1,000 is invested at 8% compounded (A) annually; (B) semiannually; (C) quarterly; (D) monthly;…

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Q: An amount of $29,000 is borrowed for 15 years at 8.25% interest, compounded annually. If the loan is…

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Q: What present value amounts to $5,000 if it is invested for 15 years at 8% compounded annually?…

A: When an amount is invested at rate r compounded annually then amount after time t years will be…

Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 4%…

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Q: Cathy wants to have $27,000 in cash 6 years from now in order to pay for improvements that must be…

A: Topic:- compund intrest

Q: If you deposit $300 each quarter into an account earning 3.2% compounded quarterly, how many years…

A: The future value (FV) of an annuity A with interest rate per period of r, over n periods is given…

Q: What present value P amounts to $280,000 if it is invested at 5%, compounded semiannually, for 19…

A: We have to find the present value (P).

Q: Robin, who is self-employed, contributes $6500/year into a Keogh account. How much will he have in…

A: Future value of the annuity gives the net worth after n years if  P dollars invested each year at i…

Q: If you have $40,000 in a bank account that is paying an interest rate of 6 percent that is being…

A: Given:- If you have $40,000 in a bank account that is paying an interest rate of 6 percent that is…

Q: Parents wish to have $80,000 available for a child’s education. If the child is now 5 years old, how…

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Q: In order to pay for college, the parents of a child invest $30,000 in a bond that pays 9% interest…

A: Given : P = 30,000 r = 9% = 9/100 = 0.09  t = 19 Semi-annually means  n = 2

Q: How much do we earn if we invest $1000 at 10% compounded annually for 10 years?  Round to the…

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Q: How much do you need to invest at 3 % interest, compounded quarterly, in order to have $8500 in 10…

A: Given that rate of interest is 3%, the final amount is $8500 and time period is 10 years.

Q: Suppose you found a CD that pays 3.7% interest compounded monthly for 5 years. If you deposit…

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Q: Suppose you found a CD that pays 4.3% interest compounded monthly for 6 years. If you deposit…

A: Formula for amount after time t years, when interest is compounded is given as: A=P1+rnnt where A is…

Q: If $13,500 is invested at 8% compounded quarterly, how much will this investment be worth in 17…

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Q: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

A: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

Q: What lump sum do parents need to deposit in an account earning 7%, compounded monthly, so that it…

A:

Q: Robin, who is self-employed, contributes $4500/year into a Keogh account. How much will he have in…

A:

Q: An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly.…

A: From the given data

Q: Robin, who is self-employed, contributes $4500/year into a Keogh account. How much will he have in…

A:

Q: A year-end bonus of $27,000 will generate how much money at the beginning of each month for the next…

A: An annuity is an investment put in a certain amount of money each year or each month. there are two…

Q: What interest will be earned if $6100 is invested for 2 years at 11% compounded monthly? (Round your…

A: Follow next step

Q: What lump sum do parents need to deposit in an account earning 5%, compounded monthly, so that it…

A: Given information A=$90,000 Rate of interest r=5% ⇒r=5100=0.05 Time t=11 years Since, interest is…

Q: A 13-year-old has his dad save$100of his birthday money for the next family vacation. How much will…

A: The formula for the amount using compound interest is A=p1+rnnt. Here, p is the principal, r is the…

Q: Robin, who is self-employed, contributes $5500/year into a Keogh account. How much will he have in…

A: Present value (PV) = $5000 per year   Time = 20 years   Intrest rate = 5.5% per year

Q: Cathy wants to have $28,000 in cash 4 years from now in order to pay for improvements that must be…

A: Given Cathy wants to have $28,000 in cash 4 years from now in order to pay for improvements that…

Q: An initial deposit of $11,000 earns 4% interest, compounded monthly. How much will be in the account…

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Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

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Q: Suppose that you invest $3,000 at 5% interest compounded monthly. How much money will be in your…

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Q: If Jackson deposits $80 at the end of each month in a savings account earning interest at a rate of…

A: Given,  P = $80 R = 3% = 0.03 n= 12 t=4

Q: (d) If found a bank that paid 6% interest compounded annually rather you than 5%, how much (in $)…

A: We will use compound interest formula and solve this.

Q: If you invest $1000 at 4.5% compounded monthly, how long will it take the account to get to $5000?…

A: Let it takes t time to get that amount  Use the compound interest formula Since it is compounded…

Q: What present value P amounts to $290,000 if it is invested at 7%, compounded semiannually, for 10…

A: A=P1+rnntP is the amount investedr is the rateA is the amount after t years

Q: What present value amounts to $20,000 if it is invested for 15 years at 7% compounded annually?…

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Q: What lump sum do parents need to deposit in an account earning 6%, compounded monthly, so that it…

A:

Q: A year-end bonus of $24,000 will generate how much money at the beginning of each month for the next…

A: The present value of an annuity is given by  Present Value=PMT1−1+i−ni1+i For a year, n = 12. Since…

Q: A year-end bonus of $22,000 will generate how much money at the beginning of each month for the next…

A: The payment that has to be done at the beginning of each period is Annuity. In this problem, the…

Q: If we invest $4,000.00 in an investment accoint with a 3% APR interest rate, compounded monthly, how…

A: here we have  P=4000 r=3%=0.03 n=12 for monthly compound  t=6 years

Q: Suppose that you can invest money at 6% interest compounded daily. How much should you invest in…

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Q: You plan to retire in 30 years and would like to have $1,000,000 in investments. How much money…

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