Suppose you want to have $400,000 for retirement in 35 years. Your account earns 5% interest. how much interest will you learn?

Q: Farah borrows $1588 for 5 years at a simple-interest rate of 6%. Then the interest will be: $833.70…

A: in the given question we have to tell about the total intrest money given on$1588 at the simple…

Q: Twenty years after purchasing shares in a mutual fund for $5900, the shares are sold for 11,300. The…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Your roommate asks to borrow $500 and agrees to pay it in 45 days with interest rate of 4%. How much…

A: Given  : P = Principal value = $500 r = Interest rate = 4% =0.04 t = time in years = 45365

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: Assume a 6 month CD purchase for 5,000 pays simple interest at an annual rate of 9.5. How much…

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Q: Lucy deposits $3000 into an account that pays simple interest at a rate of 3% per year. How much…

A: Simple interest formula for an amount of P at an interest rate of r% for t years is given by;…

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: Jamie wants a new smart TV/sound system that cost $1,250. He doesn't have that much in cash to…

A: We need to find payment in interest over 4 years.

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

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Q: Steph took out a simple interest loan that charges 8.5% interest annually. If her original loan…

A: Given: Loan amount is, P=$30000. Simple interest rate is, r=8.5%. Number of years, n=20 years. The…

Q: You are saving for a dream vacation that will cost $5,000.  How many years will you have to wait…

A: We need to calculate the time taken for the amount to become 5000 $

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: Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. a) How…

A: Here, given that you want $500,000 for retirement in 30 years. Your account earns 6%  interest,

Q: Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and the other…

A: We will use: If P dollars is invested at a yearly rate of interest r per year, compounded m times…

Q: Reynaldo deposits 20,000 in a bank at an interesta rate of 6% If it’s compounded annually, how…

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Q: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

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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 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: 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: Jay and Sybil are purchasing a home. They wish to save money for five years and purchase a house…

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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) How much will be in your account after 5 years? (b) How much interest will be earned after 5…

A: Principle, P = $2000 Interest rate, r = 3% = 0.03 Use the continuous compound interest formula,…

Q: How much should you invest at 3.2% simple interest in order to earn $90 interest in 4 months?

A: The formula is I=Prt , Where I=interest earned, P=principal, r=rate of interest, t=time. Here, I=$90…

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: 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: Jessica would like to have $36,000 to buy a new car in 9 years. To accumulate 36,000 in 9 years, how…

A: We have to find that how much would Jessica need to invest monthly in a sinking fund with 6%…

Q: Suppose you want to have $300,000 for retirement in 20 years. Your account earns 5% interest. a) How…

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Q: You took out a loan of $8,000 in 2015 at an interest of 6% simple interest. What is the total amount…

A: We have to solve the given question.

Q: Jamie wants a new smart/TV sound system that cost $1,250. He does not have that much in cash to…

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Q: It cost $200,000 to put a kid through college.  How much money would you have to deposit monthly…

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Q: Professor Beatrice Kuhl invests $7,500 at 4.5% interest.  How much money will she have at the end of…

A: the given principal value P = $ 7,500 interest rate r = 4.5% for time t = 6 years

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 5% interest. a) How…

A: Given: r = 0.05                    5% annual rate k = 12                      since depositing…

Q: Amanda plans to invest $20,000 part of it at a 9% interest rate and part of it in a safer fund that…

A: Amanda plans to invest $20,000 part of it at a 9% interest rate and part of it in a safer fund that…

Q: A payday loan is made for four weeks, where the amount of interest owed per $⁢100 borrowed is $10.…

A: Principal = $800 Time period for the loan = 4 weeks Amount of interest owed per$100 is $10   Total…

Q: How much interest will Roxanne have to pay if she borrows $2000 for 2 yr at a simple interest rate…

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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: Find the rate of interest if N2,800 gains N600 in 5 years

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Q: Jake borrows $2,500 at an interest rate of 15% a year. If he repays the loan in 2 years, how much…

A: Assuming the simple interest, Interest = PRT/100 Where P= principal R = rate T = time

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: Wanda took out a payday loan with an effective interest rate of 19,300%. If she had $460 to invest…

A: Use the formula Interest=Principal×Rate×Time100 to calculate the interest.

Q: Lucy deposits $8000 into an account that pays simple interest at a rate of 3% per year. How much…

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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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Q: An account that yields 6% simple interest annually has $2,000. How much will be in the account after…

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Q: Ken wants a $1000 TV/sound system. He can't afford that amount, so he uses a credit card with 20%…

A: Here, P = 1000, r = 0.20 and t = 4. The interest for each month can be calculated as That means, he…

Q: A payday loan is made for five weeks, where the amount of interest owed per $⁢100 borrowed is $⁢20.…

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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: Johnny borrowed 15,000 from a lending company with annual simple interest rate of 9.5%. If hhe had…

A: The formula for the amount of simple interest after t years is: A=P+Prt100 Here, P is the principal…

Q: nd the savings plan balance after 3 years with an APR of 4% and monthly deposits of $400

A: Given that: Monthly deposit = $400 Time = 3 years APR = 4% To determine the balance after 3 years.

Q: In 2016 Donald Trump admitted he received a small loan of a million dollars from his father if he…

A: We can use this formula to compute the monthly payment,  Monthly payment = P×r(1+r)n1+rn-1 Where P…

Q: If you pay $5,500 for a simple interest note that will be worth $6,000 in 21 months, what annual…

A: topic - percentage