You think you need $1.5 million and your retirement advisor thinks you will average 6% a year on your account.  How much will you need to contribute a year to your account if you have 40 years to your retirement?

Q: You want to save $50,000 in 18 years for a college fund for your child by making regular,…

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Q: Suppose you have a $60,000 loan with an annual percentage rate of 8% for 25 years. What are your…

A: Hi! Thank you for the question, As per the honour code, we are allowed to answer three sub-parts at…

Q: A teenager receives $50 for his birthday, and his sister wants to borrow it from him for 15 weeks.…

A: The formula for simple interest is I= Prt Where I= Interest earned, P=Principal amount, r=rate of…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: Assume a 6 month CD purchase for 5,000 pays simple interest at an annual rate of 9.5. How much…

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Q: Helene Gauthier invested $15,000 on January 1 in a partnership. She withdrew $2000 on June 1,…

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Q: In a 7 years, you want to have $3,120 worth of remodeling done to your house bathroom. How much…

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Q: What is the rate of return when 40 shares of Stock A, purchased for $15/share, are sold for $690?…

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Q: You put $300 per month in a savings plan that pays an APR of 3.5%. How much money will you have…

A: Given:   APR = 3.5% = 3.5/100 = 0.035 t = 18 AMT = 300

Q: Kunio puts $3,300.00 into savings bonds that pay a simple interest rate of 2.5%. How much money will…

A: Simple interest algebra

Q: What is the unemployment rate?

A: Unemployment rate=(No: of unemployed people/ Total population) *100 =(1.5/60)*100 =2.5%

Q: he Treasury Department auctioned $15 billion in 3-month bills in denominations of $10,000 at a…

A: formula for effective rate =r1-rt where t=3 month12 month=14

Q: A retiree invests $8,000 in a savings plan that pays 6% per year. What will the account balance be…

A: Given  invested amount  =  $ 8,000 intrest rate  = 6% per year

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

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Q: What is the formula for percentage increase?

A: The formula to find the percentage increase is,

Q: Consider a credit card with a balance of $7000 and an APR of 15.99%. In order to pay off the balance…

A: Given Amount borrowed =$7000 APR=15.99% Time =3 year

Q: If you earn $1200 per month and you expect your earnings to increase by 10% per year, how much do…

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Q: 3. Mocca Blanca invested P45, 000 for 2 years and 8 months and earn P12,450 interest. What was the…

A: Mocca Blanca invested P45, 000  for 2 years and 8 months and earn P12,450 interest . We have to find…

Q: What is the simple interest rate on a $1950 investment paying $513.83 interest in 8.5 years

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Q: Suppose you pay back $355 on a $325 loan and you had the loan for 60 days. What was your simple…

A: We have to use simple interest formula.

Q: The major Airline is planning to purchase new airplanes. It wants to borrow $800 million by issuing…

A: Given Airline wants to borrow $800 million by issuing bonds. The bonds are for a 10-years period…

Q: Francine currently has $70,000 in her 401k account at work, and plans to contribute $6,000 each year…

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Q: a bookshop has a sale with an additional 40% off the regular (1/4) price of their books. what…

A: A bookshop has a sale with an additional 40% off the regular (1/4) price of their books. what…

Q: (a) How much will be in your account after 5 years? (b) How much interest will be earned after 5…

A: Principle, P = $2000 Interest rate, r = 3% = 0.03 Use the continuous compound interest formula,…

Q: An insurance company pays claims for bills from a physical therapist as follows: They take the…

A: Given  Actual bill is reduced by 10% Percentage paid of the remaining amount =35%

Q: 5. The Jacobs Family owned a condo in Bethpage Acres. They bought it for $130,000 6 years ago and…

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Q: A preferred stock from Duquesne Light Company (DQUPRA) pays $3.55 in annual dividends. If the…

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Q: In 2011, Manitoba progressive income tax rates were 10.8% on the first $31,000, 12.75% on the next…

A: Given: Tax rate is 10.8% till $31000 Tax rate is 12.75% beyond $31000 till $36000 Tax rate is 17.4%…

Q: A retiree invests $5,000 in a savings plan that pays 6% per year. What will the account balance be…

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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: mortgage, what is the total amount of interest? *

A: Here total interest paid = total payments-borrowed amount

Q: What is the present value of 1700 dollars to be paid in 5 years, if the effective rate of interest…

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Q: 2. Simone bought her house for $150,000 in 2000 and sold it for $725,000 in 2020. What are the total…

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Q: You have an opportunity to purchase a bond that will pay out $734 in 14 months.  If you would like…

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Q: Jack and Terry Wittry are in their retirement years. They just received $503,000 after taxes from…

A: From the given information we find the solution.

Q: You put ​$400per month in an investment plan that pays an APR of 5.5​%.  How much money will you…

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Q: You buy a house for $280,000 and pay $25,000 down.  The rest is financed for 30 years at 6.5%…

A: Here, Value of House is $280,000 Down Payment is $25,000 Loan Amount (PV) is: Interest Rate (Rate)…

Q: Your employer offers a 401(k) plan with a 49% match, and you set a goal of retiring in 37 years with…

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Q: You put ​$350 per month in an investment plan that pays an APR of 4.5​%. How much money will you…

A: let   P = $350 the principal invested r = 0.045 or 4.5% annual interest rate   t = 21 years

Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: The finance charge that a student pays on his credit card is 18.4% APR (annual percentage rate).…

A: As per given by the question, there are average balance for the year is $5000 with 18.4%ARP. Now,…

Q: I want to have $700,000 for retirement in 20 years. my account earns a 9% interest. How much do I…

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Q: A retiree invests $9,000 in a savings plan that pays 5% per year. What will the account balance be…

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Q: you purchase $24,000 in U.S. Treasury Bills with a discount rate of 4.9% for a period of 26 weeks,…

A: Principal =$24000, Time, T = 26 weeks = 182 days = 0.505 years Discount rate = 4.9%

Q: How much can you barrow to buy a house if you agree to pay $1500 per month for 30 years at 4.5%…

A: In the given question we have to calculate the amount needed to be borrowed of which monthly payment…

Q: You purchase a mutual fund at an offer price of $15.79 per share. If the net asset value is $15.26,…

A: Given that: Net asset value of share = $15.26Cost of share = $15.79

Q: What equivalent interest rate that corresponds a discount rate of 9.98% for 700 days?

A: Given: Let us determine the equivalent interest rate for a 9.98% discount rate over 700 days

Q: The Blackburn Computer Company has declared an annual dividend of $0.70 per share. The stock is…

A: Consider the provided question, Given, the annual dividend of Computer Company is $0.70 per share.…

Q: Last year, Reuben deposited $2000 into an account that paid 2% interest per year and $3000 into an…

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Q: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…

A: What is the monthly payment for a home costing $375,000 with a 10% down payment and the balance…