To pay for new machinery in  6  years, a company owner invests  $30,000  at  9.5%  compounded quarterly. How much money will be available in  6  years? Round your answer to the nearest cent.   In  6  years there will be  $  available.

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A: Solution

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Q: A company needs $6,500,000 in 7 years in order to expand their factory. How much should the company…

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A: The explanation of the above question is as shown below.

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A: According to the problem, we have

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Q: John wants to accumulate at least $35,000 by depositing $1,900 at the end of each month into a fund…

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Q: Fred is an employee of a company that specializes in repossessing aircrafts owned by private…

A: topic - compound interest

Q: What lump sum do parents need to deposit in an account earning 10%, compounded monthly, so that it…

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Q: What lump sum do parents need to deposit in an account earning 6%, compounded monthly, so that it…

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Q: An amount of  $21,000  is borrowed for  6  years at  7.5%  interest, compounded annually. If the…

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A: topic - exponential function

Q: ompounded continuously. Sarah invested $8,400 in an account paying an interest rate of 4 1/8%…

A: Answer and explanation is given below...