Suppose you want to have $400,000 for retirement in 30 years. Your account earns 6% interest. How much would you need to deposit in the account each month?

Q: If you invest $30,000 at 4.76% interest paid quarterly, how long would it take you to double your…

A: PrincipalP=30,000 Rate of interest r=4.76%=0.0476 Double the principal A=60,000 To find: time t…

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: A principal of P86, 000 will amount to how much when invested 2 years and 6 months at 11.25%…

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

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Q: In 6 years Harry and Sally would like to have $24,000.00 for a dow use. How much should they deposit…

A: In this question, the monthly payment is to be calculated using the formula. M1-1+i-ni=A

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: If you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: Here I am attaching image so that you understand each and every step.

Q: The annual interest rate on a credit card is 17.99%. If a payment of $200.00 is made each month, how…

A: How many months will it take to pay off an unpaid balance of $2,470.04. ?

Q: How much would you need to deposit in an account each month in order to have $40,000 in the account…

A: For Cash Flow at period 1=C1, rate of return = r and number of periods = n, the Present Value…

Q: Kim borrowed $9,000 at  2  3/8% interest compounded daily.  How much will she have to pay back…

A: The amount earned when P amount is invested in a scheme offering compound interest at a rate of r%…

Q: Audrey deposited $12,000 into an account paying 5% interest compounded twice a year. How long will…

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Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 2% interest…

A: Given: Amount deposited=$1000Rate of interestcompound=2% quaterly To Find: Amount after 10 years.

Q: If you were investing money in an account and the interest rate was the same either way, would you…

A: If the same amount of money is deposited and the same rate of interest is applied then: Simple…

Q: You deposit $2000 each year into an account earning 2% interest compounded annually. How much will…

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Q: Jules deposits P15,000 every 3 months in a fund that earns 5% compounded quarterly. Assuming that…

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Q: To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16 years.…

A: Given that, To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16…

Q: Michelle Payne deposited $12,000 in a savings account paying 6.25% simple interest. How long (in…

A: Let it will take t years to be a amount of $12,000 deposited in a accountunit 6.25%.Simple interest…

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: Springfield Florist plans to replace its delivery vehicle in three years. If they set aside $16,000…

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Q: How much will you have in the account after 10 years? What is the Effec rate?

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Q: f you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: In this question, the concept of compounded interest is applied. Compounded Interest  Compound…

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Let the monthly payment be P . It is provided that future value, A=10000 . The rate of interest, r…

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: If you make $400 in simple interest on an investment at 8% for 5 years, what is the amount of the…

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Q: Find the simple interest on a loan of 12,500 that is borrowed at 9% for 7 months.How much would it…

A: This question related to simple interest and solution is given below.

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: If you deposit P4000 into an account: paying 6% annual interest compounded quarterly, how much money…

A: Compound interest

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: Rob has 100,000. Invested into a fund that adds 5% per year.  How much will he have in 20 years…

A: Given: Initial amount=100,000 Increasing amount=5% of ininitial amount Time = 20 years

Q: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A: Given: Initial amount (P)= $10,000 Rate of interest (R)=7% Time period (t)=18   The formula for…

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: 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: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

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Q: Jason started to deposit P20,000 quarterly in a fund that pays 2% compounded quarterly. How much…

A: *** This is the problem related to financial mathematics and we are advanced math expert and have…

Q: If you borrow 1500 dollars from a lending agent for 13 weeks and in the end you have to pay back…

A: Formula r = (1/t)(A/P - 1) r = simple interest rate = ? P = principal amount =1500 A = P+ I  = 1650…

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

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Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

A: Topic - Compound Interest

Q: Inga Moffitt invests a bonus of $9000 at 6% annual interest compounded semiannually for4 years. How…

A: P=$9000,  r=6%=0.06,  t=4  &  n=2 Now total amount earned is,…

Q: A retiree invests $9,000 in a savings plan that pays 5% per year. What will the account balance be…

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Q: How much would you need to deposit in an account each month in order to have $40,000 in the account…

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Q: Kim borrowed $9,000 at  2  3/8% interest compounded daily.  How much will she have to pay back…

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Q: if you decide to invest $2500 at 5% annual interest rate every year, how much would you have in your…

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Q: If you borrowed $10,000 for 9 months at 12% annual simple interest, how much must you repay at the…

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Q: You deposit $400 each month into an account earning 6% interest compounded monthly. How much will…

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Q: You are currently making $70,000 a year after taxes and are interested in maintaining your current…

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Q: Suppose you want to have $800,000 for retirement in 35 years. Your account earns 6% interest. How…

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Q: For their newborn child, parents deposit $10,000 in a college account that pays 8% interest,…

A: We will use the compound interest formula to find the amount after 17 years

Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

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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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