Susan deposited a principal of $130 in a 7% account, compounded annually. At the same time, Jeff deposited a principal of $150 in a 5% account, compounded annually. Who will have the most money after 8 years? Justify your response.

Q: Lisa McNeil needs to choose between two invest- ments: One pays 6% compounded annually, and the…

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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: Edgar accumulated $5,000 in credit card debt. If the interest rate is 20% per year and he does not…

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Q: f you $15,000 in an account with a 4.5% interest rate, compounded quarterly, how much money will you…

A: The formula for final Amount if compound interest calculated. A=P(1+rn)nt…

Q: if $300 is invested at 7% compounded what is the amount after 5 years? how much interest is earned?

A: The amount Awhen the interest is compounded annually is calculated as A=P1+r100t, where P is the…

Q: Alexus would like to accumulate $154,600 for her retirement in 25 years. If her local bank promises…

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Q: Bentley invested $750 in an account paying an interest rate of 1% compounded daily. Julia invested…

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Q: After several years of working, Katy saved $125,000. If she invests that $125,000 in a savings fund…

A: Given: Initial amount = P = 125000 Interest rate = r = 4% = 0.04 Time = t = 15 years To find: Final…

Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: After several years of working, Katy has savings of $100,000. If she invests that $100,000 in a…

A: Consider the provided question, Given Principal = $100,000 Time = 20 years Rate of interest = 5%

Q: How much did John deposit every month in her savings account if she had $10,000 after 33 month-end…

A: We know that from the ordinary annuity formula, A=PMT1+rnny-1rn…

Q: an

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Q: If you invest $2,593 compounded annually at 8.5%, how long will it take to double your investment?

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Q: Lydia invests $1000 in an account that pays 5.25% compounded daily. Gabrielle invests the same…

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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: brittany made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years,…

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Q: If you invest $2000 at 6% compounded monthly, how long will it take the account to double in value?

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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: Credit card A offers an APR of 15.55%, compounded monthly, while credit card B offers an APR of…

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Q: Answer the following.Show your Solution.   a. Php1500 invested at 4% compounded semiannually for 7…

A: (a)  $1500 invested at 4% compounded semi annually for 7 years A = P(1+(r/n))nt Accumulated value is…

Q: Malcolm invests $50 000 at an interest rate of 7 % compounded monthly. Laura invests $ 40 000 at…

A: Malcon invests $50,000 at an interest rate of 7% compounded monthlyLaura invests $40,000 at 9.5…

Q: Lee puts $10,000 into a stock market index mutual fund that grew at an average of 7% per year for 10…

A: Given, Principal amount, P = $10,000 Rate of interest, r = 7%  Time, t = 10 years We know, Interest,…

Q: Mika's parents want to have enough saved to give her $15 000 a year - for 4 years of college. They…

A: Mika's parents want to give $15000 per year for 4 years of college. Therefore they want to give…

Q: Christine contributes $ 100 each month to her 401K account. To the nearest dollar, what will…

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Q: A principal of $1500 is invested at 3% interest, compounded annually. How much will the investment…

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Q: Determine the amount of money, to the nearest dollar, you must invest at 6% per year, compounded…

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Q: A principal of  $4900  is invested at  4.25%  interest, compounded annually. How much will the…

A: use the formula for compound interest for finding the amount.

Q: On Melissa 6th birthday, she gets a $6000 CD that earns 6% interest, compounded quarterly. If the CD…

A: Given data: Melissa on her 6th birthday gets a P=$6000. The rate of interest she earns r=6%=0.06…

Q: Ariana has a choice of two investments. She can invest $10,000 at 5% for 6 years or she can invest…

A: to solve this problem we are going to use the simple interest formula  A=P(a+r*t) A= final amount P=…

Q: Jocelyn invested $56,000 in an account paying an interest rate of 7% compounded continuously. Oliver…

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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: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

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Q: Elon musk decides to invest in a new company, his investment earns 5.2% per year, compounded…

A: Given: Elon musk decides to invest in a new company, his investment earns 5.2% per year, compounded…

Q: Anne wants to find the future value of an investment of $3000 that earns 5.75% compounded monthly…

A: The time value of money calculator can be used to predict the current value of the principal after…

Q: Jeffrey invested the profit of his business in an investment fund that was earning 3.50% compounded…

A: Given that Jeffrey invested the profit of his business in an investment fund that was earning 3.50%…

Q: Bo won $10,000 on a scratch-off lottery ticket. In five years, he wants to buy a new bass boat that…

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Q: Jason thinks he can save enough to deposit P1,200 in the bank at the end of each year for the next…

A: The future value of an annuity is given by FV=PMT×1+in-1iWhereFV=future value of annuityPMT=cash…

Q: Kayla invested $88,000 in an account paying an interest rate of 8% compounded daily. Sadie invested…

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Q: Riley invested $5,100 in an account paying an interest rate of 7-% compounded quarterly. Ryan…

A: Use the formula A=P1+rnnt. Where P is the principle amount, r is the rate of interest, n is number…

Q: Preston has $8,000 in a savings account. The interest rate is 4%, compounded annually. To the…

A: We have to find compound interest.

Q: Dylan invested $700 in an account paying an interest rate of 1 % compounded quarterly. Sebastian…

A: Given: Dylan:Invested amount=$700Interest rate=134%Number of conversions=compounded…

Q: A principal of  $4300  is invested at  4.5%  interest, compounded annually. How much will the…

A: In Compound Interest Amount of principal (P) after 'n' years @ 'r' rate of interest will be A =…

Q: ack invested $7,100 in an account paying an interest rate of 3% compounded ontinuously. Henry…

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Q: Hamad needs $6500 in 3 years for his first-year university program. He is planning to deposit a…

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Q: One month from now, Kelly will make her first monthly contribution of $250 to a tax free savings…

A: Given information Monthly deposit PMT=$250 Future value FV=$55,000 Rate of interest is r=6%…

Q: Rhoda would like to have P60,000 in her account by the end of three years. How much should she…

A: A=60000, t=3,  r=12%=0.12, n=4.

Q: Maryam is planning to invest P150,000. Bank A is offering 7.5% compounded semi- annually while Bank…

A: The principal will be equal to 1,50,000 . From bank A , The rate = r               =7.5%…

Q: Douglas is saving up money for a down payment on a condominium. He currently has $3156 but knows he…

A: Douglas invests the $⁢3156 in an account that earns 5% annually, compounded quarterly, it take…

Q: Rahel left a $5000 investment for 3 years in an account that paid 4% per year, compounded…

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