Suppose that you invested in a mutual fund that guaranteed 6.5% annual interest, compounded monthly. If you invested $3500, how much would you have in the mutual fund after 4 years?

Q: Mr. Gordon plans to invest $200 at the end of each month in an account that pays 9%, compounded…

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

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Q: if $300 is invested at an interest rate of 5% compounded quarterly, then the amount after 2 years is…

A: Amount , A= P(1+r/n)nt   where, P= the principle amount             r= rate of interest           t=…

Q: An amount of $42,000 is borrowed for 10 years at 5% interest, compounded annually. If the loan is…

A: The amount to be paid back  is computed using the formula,

Q: If you have $5000,00 to invest a rate of 3.5% compounded monthly, how long would it take to save…

A: Given investment(P) = $5,000.00 interest rate(r) = 3.5% per annum Final amount(A) = $15,000.00 The…

Q: How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: Here, we need to find the amount we deposit at the end of each month into an investment account that…

Q: Find the amount due at the end of 8 years and 6 months if P4, 000 is invested at 7% compounded…

A: Principal amount:  $ 4000 Interest Rate:  r = 7% Time Period:  t = 8 year 6 months

Q: If $12000 had been invested in a certain investment fund on September 30,2008, it would have been…

A: compounded interest formula A=P(1+rn)nt A=53625.75 P=12000 r=? t=10 years n=1 (compounded annually)…

Q: Isaiah is going to invest $94,000 and leave it in an account for 16 years.Assuming the interest is…

A: Isaiah is going to invest $94,000 and leave it in an account for 16 years. The interest is…

Q: If you save $270 per quarter for retirement in an account that earns 8% interest per year compounded…

A: Given; Saving $270 per quater Rate of interest = 8% Compounded quaterly, n=4 Number of years=…

Q: A newborn child receives a $5,000 gift toward a college education from her grandparents. How much…

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Q: If you have $30,000 in a bank account that is paying an interest rate of 4 percent that is being…

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Q: Ian invested $90,000 in an account paying an interest rate of 2.6% compounded quarterly. Assuming no…

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Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

Q: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

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Q: find the amount of money you Will have after 20 years if you inrest $ 25,000 at a rate of 12% if…

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Q: If compounded monthly, a loan will be amounting to P132, 400.00 if invested at 11.5% interest for…

A: The solution to the given question is explained below.

Q: Paisley is going to invest $28,000 and leave it in an account for 14 years. Assuming the interest is…

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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: Mr. Gordon plans to invest $600 at the end of each month in an account that pays 6%, compounded…

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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: If you invested $10,000 at 9% interest, compounded quarterly, then how much would this investment be…

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Q: A newborn child receives a $20,000 gift toward a college education from her grandparents. How much…

A: Given that  A baby recives 20000 Interest rate is 7% for 17 years  To find the amount will receive…

Q: An amount of $44,000 is borrowed for 8 years at 4.75% interest, compounded annually. If the loan is…

A: A=P(1+r)t P is the amount borrowed.r is the rate of interest.t is the time.

Q: Peyton is going to invest $310 and leave it in an account for 16 years. Assuming the interest is…

A: Principal amount:  P = $ 310 Total time period is: t = 16 years Interest is compounded quarterly.…

Q: An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded annually. If the loan is…

A: Given information:- An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded…

Q: An investment of $5,650 is made in an account compounded quarterly at 5.1%. How much will the…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: If Jean invests $2300 in a retirement account with a 6% interest rate compounded annually, how long…

A: To determine the time required for the investment to accumulate to $ 4150.

Q: Steve decided to deposit $3,285 into a savings account with 4.5% interest, compounded quarterly.…

A: Here we have to find how much money Steve have after 4 years in his account. The details calculation…

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: If you invest $7,000 in an account paying 3% interest compounded quarterly: how much will be in the…

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Q: How much will you have after 25 years if you put $2000 per month in the account that instead earns…

A: The solution is given below:

Q: How much must a person put into the bank today if he wants $50,000 in 5 years at 6% compounded…

A: Sol

Q: A deposit of $1000 is made into an account that earns interest at an annual rate of 5%. If allowed…

A: what would be the resulting total account balance if the interestcompounded monthly?

Q: Mr. Gordon plans to invest $300 at the end of each month in an account that pays 6%, compounded…

A:

Q: What is the future value of $4887 invested for 7 years at 8% compounded annually?

A: A=P(1+r)t

Q: Suppose you want to borrow $20,000 for a new car. You can borrow at 6% per year, compounded every…

A: P = monthly payment PV = loan amount r = rate of interest n = number of periods

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: A loan of $47,000 is made at 6.75% interest, compounded annually. After how many years will the…

A: The principal amount of loan is $47000. The rate of interest per year is 6.75%. The amount with…

Q: A young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the…

A: Solution: P = $ 8000 r = 8% Using formula  A = P1+rnnt

Q: . An investment fund pays 12% per year, compounded monthly, on all money invested. How much must be…

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Q: If a credit union awards interest of 8 percent per year compounded semiannually, what amount must be…

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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: How much must you deposit in an account that pays 8% interest, compounded monthly, to have a balance…

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Q: How much should be deposited now in order to have $45,000 in 8 years, if the account earns 6.57%…

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Q: If $5000 is invested for 8 years at 6% compounded monthly, how much interest will be earned?

A: Given that $5000 is invested for 8 years at 6% compounded monthly. It is required to find the amount…

Q: How much should you set aside and invest in a fund earning 9% compounded quarterly if you want to…

A: We need to find the amount of money that must be invested to accumulate P200,000 in 3 years and 3…

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…