You deposited P75,500 into a savings account that pays 4% compounded annually in interest. Your friend puts P75,000 into a savings account with a straightforward yearly interest rate of 4%. After 5 years, compare the balances of the two accounts.

Q: On​ Melissa's 6th​ birthday, she gets a ​$6000 CD that earns 6​% ​interest, compounded quarterly. If…

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Q: Audrey is going to invest in an accour paying an interest rate of 5.7% compounded daily. How much…

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Q: Jackson invested $81,000 in an account paying an interest rate of 6,% compounded monthly. Angel…

A: for both Jackson and Angel , P is $81,000. now Time is 16 years. for Jackson Rate, r is 6.5% which…

Q: Gertrude wants to make $500 monthly withdrawals for 10 years from an account which pays 4%…

A: Given Information: Gertrude wants to make $500 monthly withdrawals for 10 years from an account…

Q: On Melissa's 6th birthday, she gets a $5000 CD that earns 7% interest, compounded semiannually. If…

A: `Given  P=$5000     r=7% = 0.07  compounded semiannually n=2  t=5 years

Q: Tommy has $4,000 in a savings account that earns 13% interest, compounded annually. To the nearest…

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Q: Timothy invests $5,000 at 17% interest compounded daily for three years.How much does he have in the…

A: topic- compound interest

Q: When Abram was born, his parents put $2,000 into an account that yielded 1.2% interest, compounded…

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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: Sarah invests $4848 in a savings account with an annual interest rate of 5% compounded 2 times per…

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Q: Rick deposited $1500 into his saving account every month for 8 years. How much money does Rick have…

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Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: Jasmine invests $1,712 in a savings account with a fixed annual interest rate of 7.41% compounded 3…

A: follow the next step

Q: Marcelo invested $66,100 in a mutual fund at 4.2% compounded annually. After 4 years, the interest…

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Q: Rosa Burnett needs $7,000 in three years to make the down payment on a new car. How much must she…

A: Given information Future value=$7,000 Rate of interest r=0.5% compounded annually ⇒r=0.5100=0.005…

Q: Austin invested $200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no…

A: Austin invested $200 in an account paying an interest rate of 6.1% compounded quartely.

Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

Q: You want to have $200,000 when you retire in 25 years. If you can earn 9% interest compounded…

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Q: If compounded monthly, a loan will be amounting to P132, 400.00 if invested at 11.5% interest for…

A: The solution to the given question is explained below.

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: On Melissa's 6th birthday, she gets a $4000 CD that earns 3% interest, compounded semiannually. If…

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Q: Jeremiah invested $70,000 in an account paying an interest rate of 6.8% compounded daily. Assuming…

A: A=$99000  P=$ 70000 r=6.8%=0.068 n=365 ( compounded daily)

Q: On Melissa 6th birthday, she gets a $6000 CD that earns 6% interest, compounded quarterly. If the CD…

A: Given data: Melissa on her 6th birthday gets a P=$6000. The rate of interest she earns r=6%=0.06…

Q: Maria borrowed P10,000 with an interest rate of 12% compounded quarterly which he borrowed from a…

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Q: Hsu-Mei wants to save $3,000 for a down payment on a car. To the nearest dollar, how much will she…

A: To real the goal in 3 years is 3000 Question says its compounded daily  so we use compound interest…

Q: On Melissa's 6th birthday, she gets a $2000 CD that earns 3% interest, compounded semiannually. If…

A: P=$ 2000  time T = 15 – 6 = 9years Interest 3% semiannually Then futur value = P(1 + (R/2)/100)2t =…

Q: Dylan invested $47,000 in an account paying an interest rate of 4% compounded annually. Assuming no…

A: Formula: The compound interest formula is given by, FV=PV1+rnnt Given: FV=$79,200, PV=$47,000, r=4%,…

Q: David deposited P2,500 for 2 years at 10% compounded annually and earned a compound interest of…

A: Given that the principle amount=2500And compound interest=525So the future value= 2500+525=3025

Q: Damian invested $880 in an account paying an interest rate of 5.2% compounded annually. Assuming no…

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Q: A payment of $1500 is due in three months. Find the equivalent value at nine months if the interest…

A: Given interest rate is 4% compounded quarterly. F.V=P.V(1+r/k)nk Here, F.V= Future value P.V=Present…

Q: Kayla is going to invest in an account paying an interest rate of 2.9% compounded monthly. How much…

A: We know the compound interest formula:A=P1+rnntwhere A= Total amount         P=Principle amount…

Q: Russell invested 50,000 pesos in a bank that pays 8% compounded quarterly for 5 years. How much is…

A: We used the formula A=P(1+r/n)^(nt)

Q: Claire invested $2,400 in an account paying an interest rate of 3.5% compounded monthly. Assuming no…

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Q: Ariana is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much…

A: r=3.7%  A=$25000 t=14 years  n=12 (compounded monthly)

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

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Q: Angela wants $11,000 saved in 5 years to make a down payment on a house. How much money should she…

A: Angela wants $11000 saved in 5 years. We want to find how much money she should invest at 3.2%…

Q: Preston has $8,000 in a savings account. The interest rate is 4%, compounded annually. To the…

A: We have to find compound interest.

Q: ack invested $7,100 in an account paying an interest rate of 3% compounded ontinuously. Henry…

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Q: On​ Melissa's 6th​ birthday, she gets a $2000 CD that earns 5​% interest, compounded quarterly. If…

A: Interest is compounded Quarterly. Therefore n=4.

Q: On Melissa's 6th birthday, she gets a $5000 CD that earns 6% interest, compounded quarterly. If the…

A: The compound interest accrued on a principal amount P, at rate R% after time t years is given as…

Q: Donna placed $1200 in an account at 4% compounded annually for 2 years. She withdraws it at the end…

A: Case I   Originally, P=$1200 r=4% t=2 years At the end of two years, Amount=Principal (1+r)t…

Q: On Melissa 6th birthday, she gets a $2000 CD that earns 7% interest, compounded semiannually. If the…

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Q: Karen has $1000 from investing in an account that pays 3.2% interest compounded quarterly at the end…

A: We will use formula for compound interest.

Q: Maryam is planning to invest P150,000. Bank A is offering 7.5% compounded semi- annually while Bank…

A: The principal will be equal to 1,50,000 . From bank A , The rate = r               =7.5%…

Q: Delfina would like to save $450 at the end of every three months for the next 6 years in a savings…

A: a Here, interest is compounded annually. Amount is deposited every 3 months. Hence, deposited amount…

Q: How long would it take to double your money in an account paying 8% compounded quarterly?

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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: When he was 12, Brian put $250 into a savings account with a 2.5% annual interest rate. Now that he…

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Q: John makes annual deposits of $1600 to an an IRA earning 7% compounded annually for 16 years. What…

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Q: Oscar has $400 in a savings account that earns 1% interest, compounded annually. To the nearest…

A: Given : Principal amount (P) = $400 Interest rate = 1% time t = 2 years