to o bmn 3. An amount of $12,000 is deposited into an account with annual interest of 4.2% compounded monthly. In how many years will the amount grow to $18,000? Round your answer to two decimal places. 19

Q: A grandparent puts $4,000 into a college education fund for a grandchild. If the fund earns 2.75%…

A: total amount = P(1+r/100)n here r = 2.75/365 = 0.007534 n = 365*18 = 6570 total amount = 4000(1+…

Q: Suppose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be…

A: Given that, Annual Amount=$31 Annual rate of interest=5.7% r=0.057 Time (T) = 2015-1626 T=389 years…

Q: What interest will be earned if $6600 is invested for 2 years at 10% compounded monthly? (Round your…

A:

Q: If $400 is invested at an interest rate of 2.5% per year, find the amount of the investment at the…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: The cost of a four-year private college education (after financial aid) has been estimated to be…

A: Given: The total cost of four-year private education is estimated to be $50,000. The rate of the…

Q: When your first child is born, you begin to save for college by depositing $700 per month in an…

A: The given values are as follows.

Q: If $11,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

A:

Q: If $3000 is deposited at the end of each half year in an account that earns 6.5% compounded…

A: Given that the annual deposited amount P=$ 3000   Amount of annuity A=$ 130000   Rate of interest…

Q: If $25,000 is invested at 8% compounded quarterly, how long (in quarters) will it be before it grows…

A: Here,S=35,000P=25,000r=0.08 n=4

Q: Assuming that you invest $13,000 in the United States, how long (to the nearest year) must you wait…

A: The formula for compound interest is, A=P1+r100n where, A is compounded amount P is the Principal…

Q: The Armstrongs wish to establish a custodial account to finance their children's education. If they…

A: Given: The Armstrongs wish to establish a custodial account to finance their children's education.…

Q: If $13,500 is invested at 8% compounded quarterly, how much will this investment be worth in 24…

A:

Q: What interest rate enables an imvestor to obtain a 70% increase in an investment in 2 years if the…

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

Q: Find the present value that will generate the future value of $1,000 at 6% compounded yearly for 7…

A:

Q: 3. If interest is compounded quarterly, how much will P100,000 be at the end of one year at 12%?

A:

Q: A bank has decided to set its interest rates to compound monthly on all deposits in order to give…

A: We know the compound interest formula:A=P1+rnntwhere A=Principal amount +interest Amount…

Q: If you deposit $300 each quarter into an account earning 3.2% compounded quarterly, how many years…

A: The future value (FV) of an annuity A with interest rate per period of r, over n periods is given…

Q: if $2000 is invested at an interest rate of 6.5% per year, compounded daily, find the value of the…

A:

Q: What interest will be earned if $6800 is invested for 7 years at 12% compounded monthly? (Round your…

A:

Q: Suppose that the purchase price of Manhattan in 1626 was recently re-estimated by historians to be…

A: time period t = 2020-1626 t = 394 years p = $40 compounded quarterly n= 4 Formula of CI: A=P(1+rn)nt

Q: Hannah deposits OMR 500 in an account earning 5% compounded half yearly. What will be the interest…

A:

Q: What interest will be earned if $6500 is invested for 8 years at 13% compounded monthly? (Round your…

A: The given principal value P = $6500 The given time t = 8 years = 12*8 = 96 months  Interest rate =…

Q: If $2,000 is invested at 7% compounded monthly, what is the balance after 8 years? $3,601.84…

A:

Q: Find the present value that will generate the future value of $2,000 at 7% compounded yearly for 8…

A:

Q: What present value amounts to $20,000 if it is invested for 15 years at 8% compounded annually?…

A: Given:Total accumulated amount (A) = 20,000 dollarsRate = 5%Time, n = 15Present value (Principle)…

Q: Calculate, to the nearest cent, the present value of an investment that will be worth $1,000 at the…

A: Given:-A=$1,000Period (t)=5 years Interest rate (r)=5.7%=5.7100=0.057n=52Apply the fomula  Present…

Q: John Lee's savings account has a balance of $1,251.00. After 5 years, what will the amount of…

A:

Q: If $1300 is invested at an interest rate of 6.75% per year, compounded quarterly, find the value of…

A:

Q: How much should a mother invest at the time her daughter is born in order to provide her with…

A: A mother invest at the time her daughter is born in order to provide her with$95,000 at age 18. The…

Q: A MasterCard statement shows a balance of $560 at 13.9% compounded monthly. What monthly payment…

A:

Q: If $1000 is invested at an interest rate of 3.5% per year, compounded daily, find the value of the…

A: Given data  Investment P=1000  interest rate r=3.5% =0.035  Compounded daily=n=365  Value of the…

Q: Solve the problem. How much money should be deposited today in an account that earns 6% compounded…

A:

Q: years

A: Compounded quarterly, i.e. 4 times every year,    Investment  =  $1400  Rate  =  3.75%  =  0.0375…

Q: What interest will be earned if $6100 is invested for 2 years at 11% compounded monthly? (Round your…

A: Follow next step

Q: (a) If $2,300 is borrowed at 7.5% interest, find the amounts due at the end of 4 years if the…

A:

Q: If $7,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

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

Q: Write down the formula for B if an annual interest rate of 4. 8% is compounded every second month.

A:

Q: The managers of a pension fund have invested $1,500,000 in U.S. government certificates of deposit…

A:

Q: If the present value of a cash flow at an annual rate of interest of 4.5% is $30000, what is the…

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

Q: If Jackson deposits $80 at the end of each month in a savings account earning interest at a rate of…

A: Given,  P = $80 R = 3% = 0.03 n= 12 t=4

Q: If $11,500 is invested at 10% compounded quarterly, how much will this investment be worth in 3…

A: Let P be the amount invested , r be rate of interest compounded quarterly, n be number of periods in…

Q: What interest will be earned if $6600 is invested for 7 years at 10% compounded monthly? (Round your…

A:

Q: What present value P amounts to $260,000 if it is invested at 7%, compounded semiannually, for 18…

A: Given that present value P amounts to $260,000 if it is invested at 7%, compounded semiannually, for…

Q: (d) If found a bank that paid 6% interest compounded annually rather you than 5%, how much (in $)…

A: We will use compound interest formula and solve this.

Q: Aubree invested $4,400 in an account paying an interest rate of 2.4% compounded quarterly. Assuming…

A:

Q: If $2,000 is invested for 5 years at 8% compounded quarterly, how much interest (in $) will be…

A:

Q: If $17,000 is invested at 6% compounded monthly, what is the amount after 6 years? The amount after…

A:

Q: When your first child is born, you begin to save for college by depositing $400 per month in an…

A:

Q: If 21900 dollars is invested at an interest rate of 9 percent per year, find the value of the…

A:

Q: Assume that there are no deposits or withdrawals. An initial deposit of $14,000 earns 8% interest,…

A: here we will find final amount in account after 6years with compound interest,