What lump sum do parents need to deposit in an account earning 8% interest compounded quarterly in order to have $100,000 in their child’s college fund after 18 years?

Q: If you deposit 9000$ into an account paying 5.5% annual interest compounded semiannually, how much…

A: As we know that the expression for the compound interest is:   A=P1+rnnt   Where P is the principal…

Q: Acme Annuities recently offered an annuity that pays 4.2% compounded monthly. What equal monthly…

A: According to the given information, if a monthly payment P is deposited for 16 years with a return…

Q: What lump sum do parents need to deposit in an account earning 12%, compounded monthly, so that it…

A: Given, The amount obtained after 10years is $100,000. interest rate is 12% & compounded monthly.…

Q: What nominal interest rate compounded monthly is equivalent to 4.50% compounded quarterly?

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Q: Parents wish to have $80,000 available for a child's education. If the child is now 5 years old, how…

A: The formula for the compound interest is given by, A=P1+rnnt where, A is the final amount, P is the…

Q: Tom and Sandy have set up a sinking fund in order to have $15,000.00 in 44 years for their child's…

A: According to question given :Tom and sandy have set up a sinking fund in order to have $15,000.00in…

Q: How much must you deposit today into the following accounts in order to have $120,000 college fund…

A: We are given that the interest is compounded daily. So, it's better to calculate the daily interest…

Q: Acme Annuities recently offered an annuity that pays 5.4% compounded monthly. What equal monthly…

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Q: Acme Annuities recently offered an annuity that pays 5.4% compounded monthly. What equal monthly…

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Q: Acme Annuities recently offered an annuity that pays 7.2% compounded monthly. What equal monthly…

A: Formula :-

Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

A: Given:

Q: A person deposits $300 on the last day of each quarter into a savings account that pays 9​%…

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

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Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

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Q: Suppose you borrow $7,500 from a bank that charges 4% interest compounded monthly. How much will you…

A: From the given information, it is observed that the Principal is P = $7500, the rate of interest is…

Q: How much would you need to deposit in an account now in order to have 5000 in the account and 10…

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Q: No payments were made on a $2,598 loan during its three-year term. What was the annually compounded…

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Q: 17. If Joe deposits $800 in an account paying interest at an annual rate of 6% compounded quarterly,…

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Q: Acme Annuities recently offered an annuity that pays 6.0% compounded monthly. What equal monthly…

A: It is given that future value is $69,000 in 15 years. Since annuity pays 6.0% compounded monthly,…

Q: A) if you deposit 4000$ into an account paying 6% annual compound interest monthly, how much will be…

A: As per the company guidelines i am solving the first question please resubmit the question for…

Q: If you were to invest $800 at 8% interest compounded annually or each year, what would be your…

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Q: How much should be deposited in an account paying 6% interest compounded monthly in order to have a…

A: For compound interest, we use this formula: A=P1+rnnt A is the final amount of money P is the…

Q: What is the accumulated value of periodic deposits of $4,000 made into an investment fund at the…

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Q: 1) Brenda invests $4,848 in a savings account with a fixed annual interest rate of 5% compounded 2…

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Q: In order to help pay for college, the grandparents of a child invest $1,650 in a bond that pays 1.5%…

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Q: In order to accumulate enough money for a down payment on a home, a couple deposit $300 per month…

A: Given, PMT = 300 r = 6% = 0.06 m = 12 t = 5 i=rm=0.0612=0.005 n = mt = 12(5)=60

Q: What lump sum must be invested at 10%, compounded monthly, for the investment to grow to $65,000 in…

A: We have to find a lump sum that must be invested at 10%, compounded monthly, for the investment to…

Q: If you take out a 5 year loan of $8000 at 6% interest compounded monthly, then what will be each…

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Q: What is the value of an ordinary annuity at the end of 20 years if $1,000 per year is deposited into…

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Q: 9. In order to have P1 million in a fund at the end of 15 years, how much must be deposited in the…

A: Solution

Q: What monthly payments should Angela pay to save $93,000 in 19 years if money can earn 4.8%…

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Q: An interest-bearing note for P75,000 requires payment at the end of each quarter for four years. If…

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Q: What lump sum do parents need to deposit in an account earning 12%, compounded monthly, so that it…

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Q: How much shoulda parent invest at the beginning, at 8% interest compounded quarterly, to withdraw $…

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Q: 2.) Laura wants to accumulate $150,000 in her bank account by depositing $1000 at the beginning of…

A: Amount=$150,000 Present value=$1000 Rate of interest =5% compounded quarterly.…

Q: A family wants to have a $180,000 college fund for their children at the end of 18 years. What…

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Q: 4. How much should be deposited in an account paying 7.5% interest compounded quarterly in order to…

A: Compound interest

Q: 1. How much do you need to deposit into an account with 5.4% interest compounded monthly if you want…

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Q: A young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the…

A: Solution: P = $ 8000 r = 8% Using formula  A = P1+rnnt

Q: 4. What principal must be deposited in a 4.5% saving account compounded monthly in order to have a…

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Q: How much must you deposit in an account that pays 8% interest, compounded monthly, to have a balance…

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Q: A company currently owes $35,000 to a bank for a loan it took 5 years and 7 months ago. The interest…

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Q: How much should you set aside and invest in a fund earning 9% compounded quarterly if you want to…

A: We need to find the amount of money that must be invested to accumulate P200,000 in 3 years and 3…

Q: 2. A Php1,000,000-trust fund was set up and to be used by an 8-year old nephew when he goes to…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Find the present value in pesos, of a perpetuity of 15,000 payable semi-annually if money is worth…

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Q: Parents wish to have $150,000 available for a child's education. If the child is now 3 years old ,…

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Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…

A: According to the question, we have the data set: Interest rate= 3.2 % = 0.032  n= 4 (amount is…

Q: What lump sum do parents need to deposit in an account earning 8%, compounded monthly, so that it…

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