Suppose you invest $180 a month for 6 years into an account earning 7% compounded monthly. After 6 years, you leave the money, without making additional deposits, in the account for another 23 years. How much will you have in the end?

Q: Tom wants to have $6,000 in three years. At 4.75% interest compounded monthly, how much does he need…

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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: As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more…

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

A:

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: To start a new business Beth deposits $2500 at the end of each six-month period in an account that…

A: Consider the given:  Given that:Both deposit $2500 = Rr%=6%r=0.06k=2t=9S=Ri1+in−1i=rki=0.062i=0.03

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: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: Steve decided to deposit $4,680 into a savings account with 6.5% interest, compounded quarterly.…

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Q: Gallant invests starting at age 25 until he retires at age 65. If he invests $2400 each yearat 9.6%…

A: J

Q: You have $10,000 in a bank. If you get 4% compounded monthly and withdraw $400 at the end of each…

A: You have $10,000 in a bank. If you get 4% compounded monthly and withdraw $400 at the end of each…

Q: Suppose you purchase a car and you are going to finance $14,000 for 48 months at an APR of 6.6%…

A: Given:  Finance amount (P)=$14,000             Time (t)= 48 months= 4 years             Interest…

Q: The adult children of a college professor are endowing a scholarship fund in their father’s name.…

A: Given that, Present value = P = $1000 Interest rate = r = 6% = 0.06 Time = n = 3years

Q: John requires $3000 in 6 months to pay off a loan that has no prepayment privileges. If he has the…

A: Given : John requires $3000 in 6 months to pay off a loan that has no prepayment privileges. So,…

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 invest $150 each month into an account earning 3% compounded monthly, how long will it take…

A: Here the required formula is given by,                                 A=d1+rnnt-1rn           ...…

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 retire at the age of 65 with $1,000,000 sitting in an account that pays 9% p.a interest…

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Q: A family wants to have a $170,000 college fund for their children at the end of 17 years. What…

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Q: If you were to invest $800 at 8% interest compounded annually or each year, what would be your…

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

A:

Q: If you borrowed $200,000 to buy a house at 6% interest per year, compounded monthlyand paid back the…

A: Time =t= 30 years Compounded monthly , so n=number of times compounded in a year= 12interest rate =…

Q: paying 15.5%

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Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

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: 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: Suppose you want to accumulate $100,000 for a down payment on a house in 6 years. You make a single…

A: Solution is given below:

Q: An investor deposits $200 each month into an account that pays 6% compounded monthly. How much is in…

A:

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 Juanita invests $1500 in a retire-ment account that earns 8% compounded annually, how long will…

A: Given:Juanita invests $1500 in a retirement account the earns 8% compounded annually, and the amount…

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

A:

Q: Suppose you invest $190 a month for 6 years into an account earning 7% compounded monthly. After 6…

A: topic - application of geometric progression

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: If money is worth 5% compounded quarterly, find the equated time for paying a loan of P150,000.00…

A:

Q: If John invests $2300 in a savings account witha 6% interest rate compounded annually, how long will…

A: To find the no of years

Q: How much can be paid in scholarships at the end of each year if $200 000 is deposited in a trust…

A:

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

A:

Q: You just deposited $5,000 in a bank account that pays a 12% nominal interest rate, compounded…

A:

Q: How much should Chad have in a savings account that is earning 2.75% compounded monthly, if she…

A: According to the problem, we have

Q: An investment fund pays 3.25% per year, compounded monthly, on all money invested. How much interest…

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Q: Erin has $250,000 saved for retirement in an account earning 3.4% interest, compounded quarterly.…

A:

Q: Suppose you deposit $4000 in a CD paying 5% interest, compounded monthly. How much will you have in…

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Q: The buyer of a lot pays P 50,000.00 cash and P 10,000.00 every month for 10 years. If money is 8%…

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Q: In how many years will an investment of P2000 double in amount if the interest rate is 14.35%…

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Q: A young, investing-savvy artist plans to retire in 30 years and is planning to save $1,000 every…

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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: How much should Shane have in a savings account that is earning 2.50% compounded monthly, if she…

A: Given information Regular withdraw d=$1,900 Interest rate r=2.50% ⇒r=2.50100=0.025 Number of…

Q: As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more…

A: Formula used to solve the given problem is given below: An=P×1-1+r-nr Where; P= periodic payment…

Q: If you were to invest $400 at 3% interest compounded annually or each year, what would be your…

A: