Your company provides a 50% matching toward your retirement. If you deposit $200 each month into a retirement account with an APR 5.99% What would you type into excel to find his balance after 40 years

Q: Find the balance on an account if you invest $ 1,758 at 3.4% for 22 years using simple interest.

A: Given:P The amount invested is $1758 at interest rate 3.4% for 22 years. To find : The balance in…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $5000, r = 3.3%, t = 22 days

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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: In order to accumulate enough money for a down payment on a house, a couple deposits $385 per month…

A:

Q: Jimmy paid off a mortgage by paying $725 per month for 16 years. What was the original amount of the…

A: Given

Q: If you lend $4000 to a friend for 15 months at 8% annual simple interest, find the future value of…

A: Given: P=4000r=0.08n=1512 The formula for future value: FV=PV1+rn

Q: John and Rosamond Want to retire in six years and can save $190 every three months. They plan to…

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Q: mount must be set aside now to generate payments of $40,000 at the beginning of each year for the…

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Q: Kathy Crag, the owner of The Fabric Corner, lent $15,000 to Dani Flynn to open her own card shop.…

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Q: Consider a Bond Mutual fund that gains 3% interest compounded Monthly. If you deposited $66,000 how…

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Q: If a family borrows $12,033 for an addition to their home, and the loan is to be paid off in monthly…

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Q: The monthly invested payment is $. (Round up to the nearest cent.)

A: We have to find the monthly payment value of given sinking fund.

Q: Find the amount owed at the end of 3 years if $600 is loaned at a rate 3% compounded monthly. (Round…

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Q: In order to accumulate enough money for a down payment on a house, a couple deposits $209 per month…

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Q: If you lend $3800 to a friend for 15 months at 10% annual simple interest, find the future value of…

A: We know:- Simple interest = PRT ⇒P=initial amount ⇒R=Rate of interest⇒T=Time in years

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: When you were born, your grandfather established a trust fund for you in the Land Bank of the…

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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 lend $3300 to a friend for 15 months at 8% annual simple interest, find the future value of…

A: Given that, Present value, P = $3300 rate, r = 8% annually = 0.08 time, t = 15 months = 15/12 years…

Q: Your car loan payment extends for six years at 8% interest compounded monthly. After how many months…

A: To find the number of months required to pay off half of loan.

Q: If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound…

A:

Q: Cameron set up a fund that would pay his family $4,000 at the beginning of every month, in…

A: We have to find the size of investment.

Q: As part of her retirement planning, Mrs. Barth purchases an annuity that pays  17.5% compounded…

A: The quarterly payment is R=$3500 Quarterly interest rate is i=0.1754=0.04375 Number of…

Q: USE SIMPLE INTEREST TO FIND THE ENDING BALANCE   $1, 300 AT 5 % FOR 6 years

A: Find ending balance

Q: Kanye wants to save $16,000 in 6 years by making monthly payments into an ordinary annuity for a…

A: Given Kanye wants to save $16,000 in 6 years by making monthly payments into an ordinary annuity…

Q: The winner of a "million dollar" lottery is to receive $50,000 plus $50,000 at the end of each year…

A:

Q: The Betzes have leased an auto for 2 years at $400/month. If the money is worth 7%/year compounded…

A: find explanation below

Q: If you take out a 5 year loan of $8000 at 6% interest compounded monthly, then what will be each…

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Q: Mr. Smith buys a television that is listed for $1500. He pays $500 down and pays the balance in 12…

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Q: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A: Given: Initial amount (P)= $10,000 Rate of interest (R)=7% Time period (t)=18   The formula for…

Q: Cameron is expected to settle a loan by paying $7,500. What amount should he pay if he decides to…

A: Here we find loan settlement amount.

Q: A recent college graduate borrows $150,000 at an interest rate of 6% to purchase a condominium. A

A: Given a recent college graduate borrows $150000 at an interest rate of 6% to purchase a condominium.…

Q: If the accumulated amount in an account is $5,000 at the end of 3 years and the simple interest rate…

A: According to the given problem, we have

Q: As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A:

Q: The winner of a "million dollar" lottery is to receive $30,000 plus $30,000 at the end of each year…

A:

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: How much will you pay on interest if you buy a $217k home on 3.5% interest with monthly payments on…

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Q: If Joe Edward earned P1,890.50 in 1 year and 3 months in a mutual fund containing bonds worth…

A: Express the equation for the mutual fund. Future value= Present Value1+r100n Here, r is the rate of…

Q: If your monthly payments are $124, how much will you have in your retirement fund after 40 years? $…

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Q: Calculate the simple interest earned. Round to the nearest cent. P = $8000, r = 9%, t = 1 year

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Q: The winner of a "million dollar" lottery is to receive $70,000 plus $70,000 at the end of each year…

A: Use formula of compound interest to calculate future value

Q: Calculate the amount of simple interest earned. Round to the nearest dollar. $2000 at 9% interest…

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Q: In 2016 Donald Trump admitted he received a small loan of a million dollars from his father if he…

A: We can use this formula to compute the monthly payment,  Monthly payment = P×r(1+r)n1+rn-1 Where P…

Q: Calculate the simple interest earned. Round to the nearest cent. P = $2100, r = 5.3%, t = 6 months

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Q: Suppose a person borrowed $2000 and repaid the lender $2150 after 10 months. What simple interest…

A: Initial amount =$2000 Final amount = $2150 Intrest Paid = $150

Q: As part of his retirement planning, Mr. Jones purchases an annuity that pays 6.5% compounded…

A: Compound interest Formula is A = P(1+r/100)(n) where,  A = the future value of the investment P =…

Q: If the interest rate on a $5,000 loan is 10%, what is the total amount due (principal and compound…

A: Principal  =  $5000  Rate  =  10%  =  0.1     Final amount to be paid    =  5000 × ( 1 + (10/100) )3…

Q: Find the amount of money that you will have in the bank at the end of 15 years if you deposit $2,500…

A: Solution: