William is saving up money fora down payment on a townhouse. He currently has $5954, but knows he can get a loan at a lower interest rate if he can put down $6842, If he invests the $5954 in an account that earns 3.6 % annually, compounded continuously, how long will it take William to accumulate the $6842? Round your answer to two decimal places, if necessary.

Q: Avery is going to invest $270 and leave it in an account for 20 years. Assuming the interest is…

A: For compounded continuously  A=Pertr = ln(AP)t   Here,  A=$600P=$270t=20

Q: Your plan is to invest now and cash in your investment in 30 years to have $200,000. How much would…

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Q: How long (in years) would $600 have to be invested at 11.8%, compounded continuously, to earn $300…

A: Given Principle amount, P=$600 Rate of interest, r=11.8% Interest to be earned=$300 To evaluate the…

Q: If $400 is invested at an interest rate of 4.5% per year, find the amount of the investment at the…

A: If $400 is invested at an interest rate of 4.5% per year, find the amount of the investment at the…

Q: Alfred is saving up money for a down payment on a house. He currently has $⁢4462, but knows he can…

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Q: Suppose that Anna needs to borrow $8,000. She has two possible loans from which to choose: The first…

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Q: look at attachment need for reference

A: The formula used for Continuous compounding interest:

Q: Alyssa invested $180 in an account paying an interest rate of 8 3/8 % compounded annually. Lily…

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Q: How long will it take $4000 to grow to $8500 if the investment earns interest at the rate of 11%…

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Q: Oliver invested $970 in an account paying an interest rate of 7 1/2% compounded continuously. Carson…

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Q: How long (in years) would $600 have to be invested at 11.9%, compounded continuously, to earn $400…

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Q: Recall the investment formula: A(t) = P( 1 + r)t , where t is in years. Given an investment (P) of…

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Q: Jerome will be buying a used car for $6,000 in 2 years. How much money should he ask his parents for…

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Q: Annabel is saving up money for a down payment on a townhouse. She currently has $3238, but knows she…

A: The present value of the investment PV=$3238 The standard interest rate r=5.3% annually  Future…

Q: Amy wants to buy a bond that will mature to $5500 in eight years. How much should she pay for the…

A: Consider the following formula of compound interest compounded continuously: Pt=P0ert…

Q: At the end of 8 years, Alex would have $7,340.73 in his savings account if he invested his money at…

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Q: Dwight is saving up money for a down payment on a car. He currently has $3334, but knows he can get…

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Q: Alan wants to buy a bond that will mature to  $5500  in six years. How much should he pay for the…

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Q: How long did it take for an investment of $22,500 to grow to $28,000 at 2.64% compounded…

A: Given  Principal =$22,500 Final Amount =$28000 Rate r=2.64% Compounded semi-annually

Q: You have an investment of $22,400.00 that you want to double in 11 years. If interest is compounded…

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Q: Diego deposited a certain sum of money in a bank 3 years ago. If the bank had been paying interest…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: At the end of t years, the future value of an investment of $50,000 at 7%, compounded annually, is…

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Q: How long will it take $14000 to grow to $16000 if it is compounded quarterly at a rate of 3.1%?…

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Q: Maria's parents invested $14,000 at 6% per year compounded monthly. How much money will there be in…

A: Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other…

Q: At the end of 8 years, Alex would have $7,340.73 in his savings account if he invested his money at…

A:

Q: How long will it take $12,000 to grow to $15,000 if the investment earns interest at the rate of…

A: Given :          $12,000 to grow to $15,000 the investment earns interest at the rate of 4%/year…

Q: Sarah is going to invest $280 and leave it in an account for 9 years. Assuming the interest is…

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Q: If $400 is invested at an interest rate of 4.5% per year, find the amount of the investment at the…

A: Solution-

Q: How long (in years) would $600 have to be invested at 11.7%, compounded continuously, to earn $400…

A: Given,  Initial amount= P= 600  Interest amount= 400 So, final amount= A= 600+400=1000 Interest…

Q: Evan is going to invest in an account paying an interest rate of 6.1% compounded continuously. How…

A: Evan is going to invest in an account paying an interest rate of 6.1% compounded continuously. How…

Q: Hannah wants to have $ 7500 to help pay for a new deck in 10 years. If she wants to put her money…

A: Given Future value =7500 r= 0.085 t=10 years

Q: Nathan invested $80,000 in an account paying an interest rate of 6% compounded continuously.…

A: The formula for the amount if the interest is compounded continuously is  P = P0ert where Pis the…

Q: John wants to buy a new sports car, and he estimates that he'll need to make a $4,550.00 down…

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Q: Rochelle deposits $5,000 in an IRA. What will be the value (in dollars) of her investment in 15…

A: Use compound interest formula.

Q: Brayden now has $2,500 in her CD, which has compounded continuously over a period of 12 years. She…

A: Given: Principle amount: (P)=$1,800  Amount after 12 years A=$2,500 Rate of interest=? The formula…

Q: How long would it take for $400 to grow to $2900 if the interest is 6%, compounded quarterly? Round…

A: use the formula A=P1+rnnt since, the interest is compounded quarterly, take n=4 2900=4001+0.0644t…

Q: Kevin wants to buy a bond that will mature to $4500 in nine years. How much should he pay for the…

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Q: Jerome will be buying a used car for $6,000 in 3 years. How much money should he ask his parents for…

A: Compounding continuously formula:

Q: Jerome will be buying a used car for $7,000 in 2 years. How much money should he ask his parents for…

A: Given:

Q: Suzanne is planning to invest $4000 in a certificate of deposit. How long does it take for the…

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Q: How long (in years) would $700 have to be invested at 11.3%, compounded continuously, to earn $300…

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Q: Mr. Johnson invested R25 000 at a rate of 9,95% p.a. compounded quarterly. How long will it take for…

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

Q: Diego deposited a certain sum of money in a bank 3 years ago. If the bank had been paying interest…

A: For continuous compounding:       A = Per*t P =  initial deposit to the account  A = Accumulated…

Q: A recent college graduate decides to open a credit card in order to pay for their upcoming trip…

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Q: Suppose you have $13,000 to invest. Which of the two rates would yield the larger amount in 4 years:…

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Q: Suppose that a company needs new equipment, and that the machinery in question costs $100000 and…

A: Given data: The given value of the machinery is M=$100000. The given profit per year is A=$60000.…

Q: Jerome will be buying a used car for $11,000 in 2 years. How much money should he ask his parents…

A: Explained below

Q: Jerome will be buying a used car for $12,000 in 2 years. How much money should he ask his parents…

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Q: 3) Cindy will require $18,000 in 7 years to return to college to get an MBA degree. How much money…

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Q: Joshua is going to invest $490 and leave it in an account for 5 years. Assuming the interest is…

A: Solution:-