You have decided to buy a new plasma TV. To do so, you must use your credit card to pay $1500 of the purchase price. The credit card company charges interest at a rate of 18.5% per year, compounded monthly. How much interest will you have to pay when you pay off the loan in one year?

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

A:

Q: You deposit $5000 each year into an account earning 6% interest compounded annually. How much will…

A: Given:

Q: You decides to buy a car by making a deposit of 20% and R2500 every month for 3 years. If the…

A: periodic monthly car payment =R2500 calculating the loan amount of car using the PV of annuity…

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

A:

Q: You would like to have $900,000 when you retire in 40 years. How much should you invest each quarter…

A: Given:Amount after 40 years, A =$900,000                                 Rate, r =4.5%=0.045…

Q: You want to have a $40,000 college fund in 6 years. How much will you have to deposit now in an…

A: To calculate the present value (amount to be invested) for the given conditions to be satisfied

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

A:

Q: Jeremy invested his savings in a bank at 5.00% compounded monthly. How much money did he invest to…

A: Solve the above question.

Q: An account is compounded monthly for 5 years with an APR of 9%. For the principle amount of $15,000.…

A:

Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

A:

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 2% interest…

A: Given: Amount deposited=$1000Rate of interestcompound=2% quaterly To Find: Amount after 10 years.

Q: You want to have $100,000 when you retire in 10 years. If you can earn 3% interest compounded…

A:

Q: You deposit $4000 each year into an account earning 2% interest compounded annually. How much will…

A:

Q: You deposit $2000 each year into an account earning 2% interest compounded annually. How much will…

A:

Q: Ken is paying P2,500 every 3 months for the amount he borrowed at an interest rate of 8% compounded…

A: Given information Paying every 3 months P=2,500 Interest rate r=8% compounded quarterly For…

Q: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in…

A: The continuous compounding formula is, Pt=P0ert In the formula, P0 is original principle sum, r be…

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

A:

Q: After retiring, Delaney wants to be able to withdraw $4,000.00 every month from her account for 25…

A: We will find out the required value .

Q: f you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: In this question, the concept of compounded interest is applied. Compounded Interest  Compound…

Q: How much should Lindsey's dad invest into a savings account today, to be able to pay for Lindsey's…

A: I am attaching image so that you understand each and every step.

Q: If you borrowed $200,000 to buy a house at 6% interest per year, compounded monthlyand paid back the…

A: Time =t= 30 years Compounded monthly , so n=number of times compounded in a year= 12interest rate =…

Q: You deposit $4000 each year into an account earning 8% interest compounded annually. How much will…

A: To determine the cumulative amount accrued by the investment under the given terms.

Q: Matilda wishes to retire at age 67 with $1,300,000 in her retirement account when she turns 28 she…

A: Introduction: Suppose, a person deposits an amount P at rate of r% compound interest compounded n…

Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

Q: Pascal receives a financial gift from his grandparents, which he invests at an interest rate of 5.5%…

A:

Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How much money will be…

A:

Q: You deposit $4,000.00 each year into an account earning 2% interest compounded annually. How much…

A:

Q: How much should you invest each month in order to have $500,000 if your rate of return is 2.3%…

A: Given amount is A=$500,000. Since you have posted a question with multiple sub-parts, we will solve…

Q: John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How…

A: Initial deposite= P= 2000 Final amount=A=? Time=t= 4 years  Interest rate = 5.8%=0.058  Number of…

Q: You deposit $4000 each year into an account earning 7% interest compounded annually. How much will…

A:

Q: You owe $17,000 on student loans at an interest rate of 3.5% compounded monthly. You want to pay off…

A: This question is related to principal, amount ,and loan . Solve in step 2.

Q: How much did Speedy Movers borrow for a debt that accumulated to $56,036.80 in five years? The…

A: We need to find the amount that Speedy Movers borrow for a debt that accumulated to $ 56036.80 in…

Q: Sam begins saving for a down payment on a house using an investment account. The account earns…

A: Let's find.

Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How many years will it…

A: Formula: Simple interest                    SI=PTR100            Where SI- Simple interest…

Q: How much should you invest each month in order to have $500,000 if your rate of return is 2.7%…

A: Given, Compound interest, A=$500,000 Annual interest rate, r=2.7100=.027 Compound per year, n=12…

Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

A: Topic - Compound Interest

Q: Inga Moffitt invests a bonus of $9000 at 6% annual interest compounded semiannually for4 years. How…

A: P=$9000,  r=6%=0.06,  t=4  &  n=2 Now total amount earned is,…

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

A:

Q: You deposit $1000 each year into an account earning 3% interest compounded annually. How much will…

A: Given, every year $1000 is deposited with 3% compound interest annually. here we shall use the…

Q: You deposit $4000 each year into an account earning 8% interest compounded annually. How much will…

A:

Q: I want to have $20,000 to buy a car in five years. How much would I have to invest now in a savings…

A: We will use the Compound Interest formula to find the amount you need to invest every year to get…

Q: Kim borrowed $9,000 at  2  3/8% interest compounded daily.  How much will she have to pay back…

A:

Q: You deposit $300 in an account earning 5% interest compounded annually. How much will you have in…

A: Here,  P= 300$ i = 5% = 0.05 n= 20 years

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

A:

Q: You deposit $1,500 in an account at the Lifelong Trust Savings and Loan that pays 6% per year…

A: We have PV=$1500         , Present Valuer    =6                , Rate of interestm  =4…

Q: Mike buys a ring for his fiancee by paying $30 a month for one year. If the interest rate is 10% per…

A: It is given that monthly payment is $30 for one year and the interest rate is 10% per year. To find…

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: 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: МАЗВ A student borrows money to buy furniture for a new apartment. The student will pay back $125.42…

A:

Q: You deposit $3000 each year into an account earning 2% interest compounded annually. How much will…

A: