Suppose you invest $500 in a savings account that pays 3.5% annual interest. How much will be in the account after five years?

Q: Melanie invests $13,000 at 13% simple interest for 1 year. How much is in the account at the end of…

A: Substitute 13000 for P, 13% for r and 1 year for t in the simple interest formula I=Prt and…

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: Tommy has $4,000 in a savings account that earns 13% interest, compounded annually. To the nearest…

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Q: You deposit $3000 in an account earning 5% interest compounded monthly.  How much will you have in…

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Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

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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: Suppose you spend $12 a week on snacks. If you donate half that amount to a charity, how much will…

A: Given that, you spend $12 a week on snacks.

Q: If you earn $1200 per month and you expect your earnings to increase by 10% per year, how much do…

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Q: At age twenty six , Dick shoemaker desposited 2,000 into an IRA , where it earns 3% compounded…

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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: At age 35 you start saving for retirement. If your investment plan pays an APR of 6% and you want to…

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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: If you want to earn 9% annual simple interest on an investment, how much should you pay for a note…

A: Given that  worth $28,700.00 in 5 months. 9% annual simple interest on an investment,

Q: If u make an investment of $5000 and the investment earns an annual interest rate of 2.1%, how much…

A: The simple interest SI on a sum of P at R rate of interest for T years is expressed as SI=P×R×T100…

Q: You put $8,000 into an account that earns 4% interest compounded annually. How much money will be in…

A: We have to apply the compound interest formula for the given problem.

Q: You deposit $3000 in an account earning 4% interest compounded monthly. How much will you have in…

A: The formula of compounded interest is P'=P1+rnnt where P= original principal sum P'=new principal…

Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $6,000 each year…

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Q: Find the final amount of money in an account if $6,600 is deposited at 6% interest compounded…

A: Given: An amount of $6,600 is deposited at 6% interest compounded annually and the money is left for…

Q: How much should you put in an investment paying a simple interest rate of​ 5% if you needed​ $4000…

A: Consider the provided question, Given, rate of interest = 5% time = 18 months = 1812 years Future…

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: Suppose you want to have $400,000 for retirement in 35 years. Your account earns 5% interest. how…

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Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How much money will be…

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Q: n how many years will the amount of P10,000 triple if invested at an interest rate of 10% compounded…

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Q: You have $2000 in a savings account that pays an annual interest rate of 3.25%. How long will it…

A: Given,  Principal = p = $ 2000 Interest rate = r = 3.25 %  annually Amount = A = 2×2000 = $ 4000 We…

Q: 3. Francisco invest $10,500 at a annual rate of 6% compounded monthly per year. How much money will…

A: Given, P=$10,500 r=6% t=8 years Compounded monthly

Q: Suppose you save $5 each week. At the end of one year, how much money will you have saved?

A: Given : you save $5 each week Total week in one year =52

Q: If Frank invests $11,400 at 3.7% interest compounded quarterly, how much will his investment be…

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Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $8,000 each year…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=8000 t=10 years r=7%=0.07…

Q: If the rate of interest in Example 2 was 6% instead of 1.2%, how much will the account have after 24…

A: Principal Investment (P) =$1000 Rate of interest (R) = 6% per annum = 612% per month=12% per month…

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

A: Given: Principle amount (P)= $1,000,000 Rate of interest r=12% Time period= 20 years

Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How many years will it…

A: Formula: Simple interest                    SI=PTR100            Where SI- Simple interest…

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

A: given, principal (P)=$1       interest rate (R)=6%=6/100 =0.06      time (t)  = 300 years…

Q: Based on making 46000 a year and saving 16% of that monthly income what is the monthly amount that…

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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: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…

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

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Q: You deposit $600 in an account earning 7% interest compounded annually. How much will you have in…

A: Initial amount=P= 600 Interest rate= r= 7%=0.07  Time=t= 20 years Number of times compounded in a…

Q: John buys a stereo system for $640. He agrees to pay $32 a month for 2 years. Assuming that interest…

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Q: Bill invests $7,500 in an account with 7.2% interest that is compounded twice a year. How much is in…

A: The formula for the amount for the compound interest is given by formula is given by  A=P1+rnnt…

Q: How long would it take to double your money in an account paying 6% compounded quarterly?…

A: Use the following formula to calculate amount, as follows: A=P1+r100n

Q: A bank pays 6 % interest annually on savings, compounding the interest yearly. If we deposit $1000,…

A: Consider the given information.

Q: when you retire in 15 years. If you can earn 3%

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Q: If Tina wants to earn 10% annual simple interest on an investment, how much should she invest to…

A: Topic:- simple interest

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

A: We will find out the required values.

Q: Suppose your savings account pays 8% interest compounded quarterly. If you deposit $15,000 for two…

A: Given: Interest rate r = 8% r = 0.08 Deposit amount or principal amount P = 15000 Time period t = 2…

Q: How long will an amount of money double at a simple interest rate for 10% per annum? years

A: How long will an amount of money double at a simple interest rate for 10% per annum?

Q: A man invested 50,000 in an investment entity that pays 5 3/8 % simple interest for 3 years and 7…

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Q: If you want to earn 15% annual simple interest on an investment, how much should you pay for a note…

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