15. How long will it take an initial deposit of $1500.00 to increase in value to $2500.00 in a saving account with an APY of 3.1 %? Assume the interest rate remains constant and no additional deposits or withdrawals are made.

Q: Mary wants to accumulate $42,000 in a fund with payments of $2,100 made at the end of every quarter.…

A: We know that the formula is A=P1+rnnt where A=total amount,P=initial principal amount,r=rate of…

Q: How much must you deposit today into an account with quarterly compounding interest and an APR of…

A: please comment if you need any clarification. If you find my answer useful please put thumbs up.…

Q: An account that pays 0.7% compounded quarterly has $500 deposited on the last day of each quarter…

A: To find- Value of account at the end of the year.

Q: A company deposited $5,500 into an investment fund at the beginning of every quarter for 4 years. It…

A: Effective quarterly rate,  r=1+0.0450123-1=1+0.003753-1r=1.011292 a)  n=4×5=20 quarterly…

Q: 4. Suppose you deposit $2000 in a savings account that pays interest compounded quarterly at a rate…

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Q: 17. If Joe deposits $800 in an account paying interest at an annual rate of 6% compounded quarterly,…

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Q: u are considering taking out a loan of $20,000 that would be paid back over seven years with monthly…

A: Given: Loan amount = $ 20, 000 Monthly paid amount  = $ 289.30 over 7 years interest rate = 5.7%…

Q: How long does it take a principal of $25,000 at a simple interest rate of 5% to become $30,000? 2.…

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Q: mpounding interest and an APR of 4.5% in sume no additional deposits are made.

A: Given as, 8 years is $25,000 and APR of 4.5%.

Q: The price of a new car is $20,000 . Assume that an individual makes a down payment of 25 % toward…

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Q: Suppose you obtain a $5000 Treasury Note with a 3% annual rate, paid quarterly, with a maturity in 2…

A: See the attachment

Q: 4. A car dealer offers a compact sedan for 36 monthly payments of $447.59 at 9.5% interest,…

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Q: 3) Find the amount of time it would take for your balance to double at an interest rate of 8.75%.

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Q: What lump sum should be deposited in an account that will earn 9% compounded quarterly to grow to…

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Q: 9. A man who is going to be living abroad for 2 years wants to buy an ordinary annuity that will…

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Q: 3. An account that pays 1.6% compounded monthly has $1,000 deposited every month. Find the value of…

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Q: 2. Alanna plans to add an extension on to her home. She applied for a loan of $30 000. Loans are…

A: Given: Loan amount = $30,000Interest rate r = 8.9%pa or 0.74% per monthPeriod n = 5 years or 60…