You deposit $2000 in an account that pays 8% interest compounded semiannually. after 5 years , the interest rate is increased to 8.28% compounded quarterly . What will be the value of the account after a total of 10 years ? round to the nearest dollar as needed

Q: At age 25, to save for retirement, you decide to deposit $75 at the end of each month in an IRA that…

A: Given Data The deposit amount is P=$75. The interest rate per month is r=6.5%. The time at age of 25…

Q: A college student borrows $10,000 today at 10% interest compounded annually. Four years later, the…

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Q: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: Pesse Jinkman, a chemistry student at PCC, will be depositing $15,000 at the end of every quarter…

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Q: Edgar accumulated $5,000 in credit card debt. If the interest rate is 20% per year and he does not…

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Q: A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum…

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Q: Charley’s credit card APR is 28.95% compounded daily. What is her actual interest rate per year?

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Q: If $1,000 is invested at 8% compounded (A) annually; (B) semiannually; (C) quarterly; (D) monthly;…

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Q: You deposit $5,000 in a savings account that earns 6% simple interest per year. How many years will…

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Q: Sara borrowed 25,500 to purchase a new car .if the rate on the loan is 8%compounded quarterly , how…

A: Given Information -  Amount borrowed by Sara = 25,500 Rate of interest = 8% Time period of loan = 5…

Q: You can afford monthly deposit of only $150 into an account that pays 8.5% compounded monthly. How…

A: Let n be the number of periods (months) Periodic payment = 150  Future value = 7000  Rate of…

Q: A newborn child receives a ​$7,000 gift toward a college education from her grandparents. How much…

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Q: Monique invested $46,900 in a mutual fund at 4% compounded annually. After 4 years, the interest…

A: Here we have to find out the value after 4 and additional 7 years

Q: The adult children of a college professor are endowing a scholarship fund in their father’s name.…

A: Given that, Present value = P = $1000 Interest rate = r = 6% = 0.06 Time = n = 3years

Q: You would like to have $950,000 when you retire in 40 years. How much should you invest each quarter…

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Q: brittany made equal deposits at the beginning of every 3 months into an RRSP. At the end of 7 years,…

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Q: Reynaldo deposits 20,000 in a bank at an interesta rate of 6% If it’s compounded annually, how…

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Q: Malcolm invests $50 000 at an interest rate of 7 % compounded monthly. Laura invests $ 40 000 at…

A: Malcon invests $50,000 at an interest rate of 7% compounded monthlyLaura invests $40,000 at 9.5…

Q: Springfield Florist plans to replace its delivery vehicle in three years. If they set aside $16,000…

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Q: If money is worth 4 % compounded monthly, what payment at the end of each quarter will replace…

A: The value of r compounded monthly , r=4% compounded monthly=412%  Number of months in each quarter =…

Q: Olivia invested $1000 in an account that pays 2.5% interest compounded annually. Assuming no…

A: Olivia invested $1000 in an account that pays 2.5% interest compounded annually. Assuming no…

Q: paying 15.5%

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Q: Sally makes deposits into a retirement account every year from the age of 30 until she retires at…

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Q: Julia wants to have $5,000 in 10 years after investing in an account that earns 4.2% compounded…

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Q: How much will you have in an account after 25 years if you put $1900 per month in the account earns…

A: Amount after t years on investing Principal amount of $P in an account with R% of rate of interest…

Q: venture promises a 7% annual interest rate compounded once a year. For how many years should Roger…

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Q: After how many months will the account be worth $60,000

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Q: A recent college graduate received $25,000 as a gift from her grandparents. How much will this…

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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: A loan of  $29,000  is made at  4.25%  interest, compounded annually. After how many years will…

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Q: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

A: given, principal (P)=$1       interest rate (R)=6%=6/100 =0.06      time (t)  = 300 years…

Q: loan of $12,000 is made at 6% interest, compounded annually. After how many years will the amount…

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Q: Kayla invested $88,000 in an account paying an interest rate of 8% compounded daily. Sadie invested…

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Q: Glory deposited the sum of $50000 in a bank account after 5 months she made another deposit of…

A: The solution are as follows

Q: If you were to invest $200 at 4% interest compounded annually or each year, what would be your…

A: We shall use formula for compund interest. P= initial amount A = total amount after t years…

Q: Melanie invests $7600$⁢7600 in a new savings account which earns 4.0%4.0% annual interest,…

A: Melanie invests $7600 in a new savings account which earns 4.0% annual interest, compounded…

Q: You inherited $12,000 from your Great-Uncle Michael.  If you invest it and average an 8% annual rate…

A: Amount compounded annually

Q: John buys a stereo system for $640. He agrees to pay $32 a month for 2 years. Assuming that interest…

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Q: A loan of $47,000 is made at 6.75% interest, compounded annually. After how many years will the…

A: The principal amount of loan is $47000. The rate of interest per year is 6.75%. The amount with…

Q: At the age of 24, you start depositing $200 each month into an IRA that pays 3.75% interest,…

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Q: interest

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Q: If $1500 is deposited at the end of each quarter in an account that earns 3% compounded quarterly,…

A: Consider the formula for future value for annuity: F=P1+rn+1r Where,

Q: when you retire in 15 years. If you can earn 3%

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Q: Rhoda would like to have P60,000 in her account by the end of three years. How much should she…

A: A=60000, t=3,  r=12%=0.12, n=4.

Q: You deposit $3000 in an account that pays 7% interest compounded semiannually. After 3 years. The…

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Q: A loan of $42.000 is made at 3.25% interest, compounded annually. After how many years will the…

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Q: Farid placed RM5,000 in a bank account for six years. The bank offered an interest rate of 6%…

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Q: You put $4000 in a bank account earning 3% compounded monthly. To the nearest penny, how much is it…

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Q: Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded annually. At the…

A: Here, given that Ruben invested $1500 per year in an IRA each year for 6 years earning 5% compounded…

Q: % interest, compounded annually. After how many years will the amount due reach $44,000

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