Use the compound interest formula to determine the accumulated balance after the stated period. $7000 invested at an APR of 5% for 10 years. If interest is compounded annually, what is the amount of money after 10 years? ....... ( round to the nearest cent)

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 5…

A: From the provided information is  Present value=Amount*(1+rate)-period  PV=3000*(1+(0.066))-6*5…

Q: If the nominal interest rate is 14.5% per year compounded weekly, the effective annual interest…

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Q: Appa deposits $2500 in an account earning 3.1% interest compounded monthly. How much will Appa have…

A: Use compound interest formula

Q: semiannually

A: To find the amount we have to double time and rate half, to find amount semiannually. Please rate…

Q: Use the formula for present value of money to calculate the amount you need to invest now in one…

A: From the given information. The amount (A) is $1000000. Time period is 40 years. Annual rate of…

Q: A passbook savings account has a rate of 5%. Find the effective annual​ yield, rounded to the…

A: Consider the provided question, Given, Interest rate(r)  =  5% = 0.05 Compounded periods = 1000 So,…

Q: Use the compound interest formula to find the present value P, for the following given values.…

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Q: Use the present value formula to determine the amount to be invested now, or the present value…

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Q: lohn and Rosamond want to retire in 10 years and can save $190 every three months. They plan to…

A: Given: Periodic payment (m0=$190Rate(r)=7.72%Time(t)=10 yearsNumber of payments per year(n)=5

Q: In the formula A(1) = P(1 + )" for compound interest the letters P, r, n, and t stand for…

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Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

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Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

A: Solution of question as follows

Q: Use the present value formula to determine the amount to be invested now, or the present value…

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Q: Use the present value formula to determine the amount to be invested​ now, or the present value…

A: It is given that, the accumulated amount is $150,000 after 3 years invested in an account with 8%…

Q: Use the compound interest formula for compounding more than once a year to determine the accumulated…

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Q: Use the present value formula to determine the amount to be invested now, or the present value…

A: Solution :-

Q: A corporation creates a sinking fund in order to have $580,000 to replace some machinery in 11…

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Q: If $4000 is borrowed at a rate of 5.75% interest per year, compounded quarterly, find the amount due…

A: Given data,  Principle amount = $4000 Rate of interest = 5.75% = 0.0575 Compounded quarterly Final…

Q: passbook savings account has a rate of 6%. Find the effective annual​ yield, rounded to the nearest…

A: Given that rate of interest = 6%rate of interest = 6100= .06Compounded monthly i.e n = 12 and t =1

Q: At age 30, to save for retirement, you decide to deposit $100 at the end of each month into an IRA…

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Q: How much do we earn if we invest $1000 at 10% compounded annually for 10 years?  Round to the…

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Q: (a) If $1100 is borrowed at 9% interest, find the amounts due at the end of 3 years if the interest…

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Q: How much must be deposited in an account to have annual withdrawals of $ 1500 forever? Interest is…

A: To find - How much must be deposited in an account to have annual withdrawals of $ 1500 forever?…

Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

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Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

A: Given query is to find the amount after indicated time.

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: Use the formula for present value of money to calculate the amount you need to invest now in one…

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Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: To solve the following problem when compounded anually.

Q: $14,000 at 10% compounded semiannually for 9 years final accumulated amount     $   total interest…

A: Where P=principal amount              r=interest rate              n=number of days in a year (365)…

Q: Use the compound interest formula to determine the accumulated balance after the stated period $2000…

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Q: If $16,000$ is invested at a rate of 8.5% per year compounded monthly, find the value of the…

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

Q: $15,000 is invested for 15 years with an APR of 4.2% and monthly compounding.

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Q: An account is opened with an initial deposit of $5700 and earns 1.9% interest, compounded…

A: NOTE: Refresh your page if you can't see any equations. . here we have  P=5700 r=1.9%=0.019 t=0…

Q: Use the formula for present value of money to calculate the amount you need to invest now in one…

A: The future value (FV) of an investment of present value (PV) dollars earning interest at an annual…

Q: A passbook savings account has a rate of 10%. Find the effective annual​ yield, rounded to the…

A:

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A: P=Principle=?t=time=15 yearsr=interest rate=8%=0.08A=final amount=$2000n=number of times compounded…

Q: Find the interest earned: $7,500 for 15 years at 10% annual compound interest

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Q: Use the compound interest formula to compute the balance in the following account after the stated…

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Q: How much would you need to deposit in an account now in order to have $6000 in the account in 8…

A: we know that the formula ,  F = P ( 1 + (r/n)) n • t  Here , F = future value  P = Principal amount…

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 15…

A: Question is solved.

Q: You borrow $450,000 from a bank to buy a house, at a rate of 2.25%, for 30 years. How much will your…

A: In the given problem,  P=450,000 $r=2.25% compounded monthlyt=30 years Here, interest is compounded…

Q: How much would you need to deposit in an account now in order to have $4000 in the account in 15…

A: Compound Interest Formula:  A=P1+rnnt where A = Amount            P= Principal            r = Annual…

Q: How much would you need to deposit in an account now in order to have $6000 in the account in 15…

A: Given: N = 15 Years P15 = $6000 r = 5% = 0.05 k = 1 P0 = ? Formula Used: PN = P01+rkNk PN = Balance…

Q: Use the compound interest formula A=P(1+ r/n)nt   to approximate the final value of $3300 at 3%…

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Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A:

Q: Use the present value formula to determine the amount to be invested now, or the present value…

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Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

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Q: determine the accumulated balance after the stated period.   ​$6000 invested at an APR of 7​% for 8…

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Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

A: the compound interest formula is given by

Q: Use the given information to find the amount A in the account earning compound interest after 6…

A: We will find the solution in the following step