Troy is saving for his retirement 23 years from now by setting up a savings plan. He has set up a savings plan wherein he will deposit $ 100.00 at the end of every six months for the next 13 years. Interest is 9 % compounded semi dash annually. ​(a) How much money will be in his account on the date of his​ retirement? ​(b) How much will Troy ​contribute? ​(c) How much will be​ interest?

Use the formula for the future value of an ordinary annuity to solve for n when A= $5,000, the monthly payment R=$700, and the annual interest rater-8.0% n (Round up to the nearest integer as needed) A=R- -16 m

Edmonton Pizza borrowed money to redesign their restaurants. Payments of $1,150 would be made at the beginning of each month for five years, starting in six months. Interest on the loan is 6.26​% compounded annually. ​(a) How much must the company borrow​ today? ​(b) What will be the amount of the total​ payments? ​(c) How much of the amount paid will be​ interest?

Mr. Charles, a rich businessman, divided his wealth of $170 million between his two sons, Jason and Bobby, equally. Jason deposited the money in an account that offered simple interest of 11% per year. Bobby deposited the money in a bank that offered an interest of 10.5% compounded annually.   a.) Who would be richer at the end of 3 years, Bobby or Jason?  b.) How much more money would the richer brother have? (Make sure and write your answer in millions)

Jacob wants to accumulate at least $45,000 by depositing $1,300 at the end of each month into a fund that earns interest at 4.75% compounded monthly. a. How many deposits does he need to make in order to reach his goal? 0 Round to the next payment b. How long will it take Jacob to reach his goal? o year(s) o month(s) Express the answer in years and months, rounded to the next payment period

Cam saved ​$185 each month for the last six years while he was working. Since he has now gone back to​ school, his income is lower and he cannot continue to save this amount during the time he is studying. He plans to continue with his studies for three years and not withdraw any money from his savings account. Money is worth 4.5​% compounded monthly. ​(a) How much will Cam have in total in his savings account when he finishes his​ studies? ​(b) How much did he​ contribute? ​(c) How much will be​ interest?

Fritz Benjamin buys a car costing $6600. He agrees to make payments at the end of each monthly period for 4 years. He pays 6.0% interest, compounded monthly. (a) What is the amount of each payment? (b) Find the total amount of interest Fritz will pay. (a) Fritz's monthly payment is $. (Round to the nearest cent as needed.) (b) Fritz will pay a total of $ in interest. (Round to the nearest cent as needed.)