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Laura opens a money market account that earns 3.0% per year by depositing $15,000. She then deposits $2,000 after the end of the first, second and third year. For the next three years, she increases the deposit by $300. If she keeps repeating the pattern of increasing the amount by $300 every three years, how much will she have in her account at the end of 12 years? A. $55,686

Today, Edward invested $30,000 in an account that pays simple interest of 10 percent per year. At the same time that Edward made his investment, Sarah also invested $30,000 in an account that pays compound interest of 10 percent per year compounded annually. One year after their investment, who will have more money in their account? O They both will have the same amount of money in their account. O Sarah will have more money in her account than Edward. O The information is not sufficient to answer the question. O Edward will have more money in his account than Sarah.

Belle decided to start a new investment account.  She deposits $1,000 into an account that earns 3.5% interest, compounded quarterly for 10 years.  How much more would she have earned, in interest, if she invested the same amount into an account earning 3.8% interest, compounded monthly, for the same number of years?

Anh decided to buy a new car that costs $35,500. She knows that she can get a 6-year loan at 3.8% interest, and she has budgeted for a maximum monthly payment of $450. What is the minimum down payment Anh needs to make to keep her monthly payments at or below $450? (Answers are rounded to the nearest ten dollars.) $2,370 O $9,550 $3,100 $6,570

Imagine you are a financial advisor to Valerie VanNess. Ms. VanNess wants to retire in 25 years. She wants to start saving an annual amount at the end of each year until she retires. She expects to live for another 20 years after she retires. During retirement she wants to withdraw $15,000 at the start of each year from a savings account. She can earn 10% per year on balances in this savings account. Please look up the meaning of an "annuity due". Write out the formula that calculates the PV of regular annuity. If you use the PV annuity formula, at what time/year is the PV placed? Write out the formula that calculates the FV of a regular annuity:_ When the FV is calculated, in what year is the FV placed? 1) Draw a timeline that clearly labels: a) Now b) The date Ms. VanNess will retire. c) The date Ms VanNess will stop withdrawing from the savings account. d) The yearly amounts she will withdraw (you do not need to draw the total number of withdrawals, but can indicate it somehow). 2)…

Elizabeth has $31,209.00 in an investment account. Her goal is to have the account grow to $118,806.00 in 15 years without having to make any additional contributions to the account. What effective annual rate of interest would she need to earn on the account in order to meet her goal? O 10.32% 10.82% O 9.32% O 9.82% O 11.32%

Mick plans to start saving money for retirement. By taking 10% of monthly gross income. Mick is able to contribute $572 each money to a retirement plan. The account is expected to earn interest with an APR of 5.25% compounded monthly. Round to answers to two decimal cases places. a.How much money will be in Mick retirement account if he continues to make the same monthly investment for 40 years? b.Overall Mick contributed how much of her own money into the retirement account? c. What percent of the final balance in Mick retirement account was interest?

Carrie took out a $48,000 student loan with a fixed interest rate to pay for college. Carrie did not make payments on her loan for a period of 9 years. After this time period interest had accrued, resulting in the loan balance increasing to $81,000. What is is the 9-year growth factor for the amount that Carrie owes on the loan?   What is the 9-year percent change for the amount that Carrie owes on the loan? %   What is is the 1-year growth factor for the amount that Carrie owes on the loan?   What is the 1-year percent change for the amount that Carrie owes on the loan?

Genevieve has decided to start saving up for a vacation in two years, when she graduates from university. She already has $1,000 saved today. For the first year, she plans on making end-ofmonth contributions of $300 and then switching to end-of-quarter contributions of $1,000 in the second year. If the account can earn 5% compounded semi-annually in the first year and 6% compounded quarterly in the second year, how much money will she have saved when she graduate

Three years ago, Julianne invested $7,580.00. She has earned and will earn compound interest of 2.00 percent per year. In one year from today, Teresa can make an investment and earn simple interest of 13.11 percent per year. If Teresa wants to have as much in 5 years from today as Julianne will have in 5 years from today, then how much should Teresa invest in one year from today? O An amount equal to or greater than $3,628.00 but less than $5,080.00 An amount less than $3,628.00 or an amount greater than $8,506.00 An amount equal to or greater than $7,939.00 but less than $8,506.00 An amount equal to or greater than $5,080.00 but less than $6,741.00 An amount equal to or greater than $6,741.00 but less than $7,939.00

Lily has an account that pays 3.48% simple interest per year and wants to accumulate $4,000 in interest from it over the next 12 years. How much money should Lily invest in this account to meet her goal? (Use I = Prt) a. $2,000.00 b. $1.670,40 $9.578.54 d. $6,030.27

Some time ago, Marie took out a loan from the bank to purchase an apartment. The terms of theloan specified monthly payments over 25 years. The interest rate of 5.385% compounded semi-annuallyhasn’t changed. Marie has just made his 100th payment, and to his surprise, the interest portion of thepayment was exactly $1,000.a. What is Marie’s monthly payment? b. How much did Boris originally borrow

10. Fred wants to withdraw $1800 every month for two years from his account .How much should Fred invest today if the interest in this account is earned at a rate of 4.7 %o per year, compounded monthly? How much interest will be paid to this account? [A-3] 11. Staring at age 27.Emily invests $200 every month in an account that earns3.1% per year, compunded monthly. Starting at on ears 4.6% per ves compounded monthly, row much more would Alice need to iny monuif

Belle decided to start a new investment account.  She deposits $1,000 into an account that earns 3.5% interest, compounded quarterly for 10 years.  How much more would she have earned, in interest, if she invested the same amount into an account earning 3.8% interest, compounded monthly, for the same number of years?  a $44.50  b $350  c $1,416.91  d 1,461.41

Imagine you are a financial advisor to Valerie VanNess. Ms. VanNess wants to retire in 25 years. She wants to start saving an annual amount at the end of each year until she retires. She expects to live for another 20 years after she retires. During retirement she wants to withdraw $15,000 at the start of each year from a savings account. She can earn 10% per year on balances in this savings account a. How much will Ms. VanNess have to deposit in the savings account at the end of each year for the next 25 years, if the interest rate is 10%, compounded annually? b. How would the yearly deposits be changed if Ms VanNess expects her cat to live for another five years after her death, and she wants to leave an amount in an account that will be used to pay the cat sitter $5500 at the start of each year, for those five years. (Draw a new timeline, or add to your timeline above).

3 ) Thomas is planning to withdraw $7000 from a savings account at the end of each quarter for three years. If the payments are deferred for six years and interest is 5.78% compounded semi-annually, what amount has to be invested now into the savings account.   4 ) Victoria saved $306 every six months for eight years. What nominal rate of interest compounded annually is earned if the savings account amounts to $5770 in eight years?.

A) Suppose a young couple deposits $700 at the end of each quarter in an account that earns 7.6%, compounded quarterly, for a period of 4 years. How much is in the account after the 4 years? (Round your answer to the nearest cent.) B)After the 4 years, they start a family and find they can contribute only $200 per quarter. If they leave the money from the first 4 years in the account and continue to contribute $200 at the end of each quarter for the next 18.5 years, how much will they have in the account (to help with their child's college expenses)? (Round your answer to the nearest cent.)

Jennifer took out a $42,000 student loan with a fixed interest rate to pay for college. Jennifer did not make payments on her loan for a period of 6 years. After this time period interest had accrued, resulting in the loan balance increasing to $70,000. a. What is the 6-year growth factor for the amount that Jennifer owes on the loan? 70000/42000 Preview b. What is the 6-year percent change for the amount that Jennifer owes on the loan? Preview c. What is the 1-year growth factor for the amount that Jennifer owes on the loan? Preview d. What is the 1-year percent change for the amount that Jennifer owes on the loan? Submit Roints possible a Preview

1. Sarah aims to acquire, in 8 years, a special gadget priced today at 300 units in the local currency, with its cost rising by 6% annually due to market trends. To save for this, she plans to deposit 25 units into a savings account at the start of each of the initial 5 years. Additionally, she intends to contribute an unspecified amount, denoted as Y, at the end of the 3rd and 4th years to reach her goal. Her savings account offers a 12% annual equivalent rate. What is the value of Y needed to achieve her goal?

Your awesome grandma has decided to use part of her retirement savings to help you through college. You will show your gratitude by taking her on a trip to Europe. (a) Her money is in an account which has 3.4% interest compounded monthly. She has dedicated $28, 000 of her savings the day you start college to send you monthly money at the end of each month for the 45 months you are enrolled in college. How much money do you get from her every month? (b) Finishing college, you get your first job. In order to take you grand- mother to her native Krokazia, you start putting away $450 at the beginning of every quarter in an account with 4.2% annual interest compounded quarterly for 5 years. How much money do you end up with at the end of the 5 years for your trip?