You have $400,000 saved for retirement. Your account earns 8% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 15 years? Round to the nearest cent, do not include the dollar sign.

Q: You deposit $100 each month into an account earning 7% interest compounded monthly. A) How much will…

A: We will solve the following

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest. a)…

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Q: in order to start a small business a student takes out a simple interest loan for $4000 for nine…

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Q: You decide to deposit $290 each month into the retirement fund, and retire when you can afford to…

A: Introduction: One of the fundamental mathematical operations is division, which involves breaking a…

Q: A loan of $19,312 was repaid at the end of 15 months. What size repayment check (principal and…

A: Given : P = $19312 ,    t = 15 months  ,  r = 11% = 0.11

Q: Arianna has put $37,600 into a retirement fund. The fund has an estimated annual return of 10%. If…

A:

Q: Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. a) How…

A: Here, given that you want $500,000 for retirement in 30 years. Your account earns 6%  interest,

Q: Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary…

A: Principal Amount = $6,500 Rate of Interest = 8.5% time = 150 days

Q: House cost $225,000, you put 20% down. Get 30 yr loan at 3%. How much interest did you pay over 30…

A: Given problem is :

Q: You deposit $200 each month into an account earning 4% interest compounded monthly. a) How much…

A: according to question, we have deposit $200 each month into an account earning 4% interest…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the home were…

A: We will find out the required value.

Q: Margo borrows $800, agreeing to pay it back with 3% annual interest after 9 months. How much…

A: Simple interest formula: The simple interest formula is given by, I=P×r×t, where P is principal, r…

Q: Hui purchased a 91-day T-Bill that has a face value of $1000 and an interest rate of 4.00% p.a. a.…

A: Given, Interest Rate R=4.00%=0.04 Face Value = $1000 91 days T-bill

Q: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

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Q: Gina buys her first house for $250,000 at 5% APR with a 30-year mortgage.a. Find her monthly…

A: a) It is given that, Gina buys house for $250000 at 5% APR with a 30-year mortgage. Here Principal…

Q: You deposit $100 each month into an account earning 2% interest compounded monthly. a) How much will…

A: The details solution is given below

Q: You deposit $500 each month into an account earning 3% interest compounded monthly. a) How much…

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Q: Lindsay borrowed a certain amount of money for 4 years at an annual simple interest rate of 5.2%. If…

A: Given:   Lindsay borrowed a certain amount of money for 4 years at an annual simple interest rate of…

Q: You have $3,000 on a credit card that charges a 19% interest rate. If you want to pay off the credit…

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Q: Dobby borrowed $5,000 to start a foundation for recently freed house elves. He gets a 3.25% interest…

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Q: Graduation is 5 years away and you want to have $600 available for a trip. If your bank is offering…

A: Simple Interest over time is given as:A= P0 (1+rt)A= Amount is the end amount i.e. principal plus…

Q: 3400 dollars is placed in an account with an annual interest rate of 8.25%. How much will be in the…

A: Here i consider two conditions  if amount on simple interest  or if amount on compounded interest

Q: A $25,000 United States Treasury bill, purchased at 1.66% interest, matures in 98 days. The…

A: Given problem:- A $25,000 United States Treasury bill, purchased at 1.66% interest, matures in 98…

Q: Suppose you want to have $700,000 for retirement in 35 years. Your account earns 10% interest. a)…

A: The given information is that the future value is $700,000 and the number of years is 35. The…

Q: You deposit $500 each month into an account earning 8% interest compounded monthly. a.how much will…

A:

Q: Suppose you want to have $300,000 for retirement in 20 years. Your account earns 5% interest. a) How…

A:

Q: You deposit $200 each month into an account earning 2% interest compounded monthly. a) How much…

A: Given:         Monthly deposit =$200         Interest rate =2%=2100=0.02 Formula used: Future value…

Q: present value of the loan

A:

Q: Graduation is 3 years away and you want to have $1300 available for a trip. If your bank is offering…

A: Given,           Amount, A = $1300,            Rate, r=2.2% =0.022           Time, t =3

Q: You deposit $100 each month into an account earning 6% interest compounded monthly. a) How much will…

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Q: It cost $200,000 to put a kid through college.  How much money would you have to deposit monthly…

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Q: Professor Beatrice Kuhl invests $7,500 at 4.5% interest.  How much money will she have at the end of…

A: the given principal value P = $ 7,500 interest rate r = 4.5% for time t = 6 years

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 5% interest. a) How…

A: Given: r = 0.05                    5% annual rate k = 12                      since depositing…

Q: Nicolas Cage borrowed $3,456 from his nephew to fund his new movie. Eight months later, he paid back…

A:

Q: You purchase a new car for $19,500. If you borrow $19,500 for 5 years with an interest rate of 5%…

A: Given P=$19500 r=5%=0.05 t=5 years

Q: Hernandez Engineering borrows $6,500, at 8% interest, for 150 days. If the bank uses the ordinary…

A:

Q: Suppose you want to have $700,000 for retirement in 25 years. Your account earns 9% interest. How…

A:

Q: A typical credit card charges 18.99%. Find the interest owed on a credit card with a balance of $372…

A: We will use simple interest formula to solve this

Q: You have $3,000 on a credit card that charges a 18% interest rate. If you want to pay off the credit…

A: To find the amount need to pay per month

Q: Marcos's savings account has a balance of $ 4,643. After 25 years, how much will your profit be at…

A: Compound interest formula:  , where A is amount after t year, P is initial amount, t is number of…

Q: A loan company charges $50 interest for a one month loan of $1000. Find the annual interest rate…

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Q: You have $2,000 .on a credit card that charges a 21% interest rate. If you want to pay off the…

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Q: Ryan bought a $255,000.00 house, paying 10% down, and financing the rest at 7% interest for 15…

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Q: Graduation is in 5 years and you want to have $850 available for a trip. If your bank is offering a…

A:

Q: 3400 dollars is placed in an account with an annual interest rate of 7.5%. How much will be in the…

A: Given:  Principal=P = $ 3400 Rate of interest= 7.5% To find the amount of money in account after…

Q: Karen's Katering borrows $3,500, at 8.5% interest, for 220 days. If the bank uses the exact interest…

A:

Q: nd the savings plan balance after 3 years with an APR of 4% and monthly deposits of $400

A: Given that: Monthly deposit = $400 Time = 3 years APR = 4% To determine the balance after 3 years.

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A:

Q: Michelle Payne deposited $12,000 in a savings account paying 6.25% simple interest. How long (in…

A: we will use the formula of simple interest: I=p×r×t100 ---------- (i) and A=p+I ---------(ii) where,…

Q: Gwen has saved $3,500 and wants to deposit it into a savings that earns 4% annual interest for 10…

A: Given P = initial investment = $ 3500 r = interest rate = 4% = 0.04 t = time period = 10 years