2. To save for college, Charlie invested his summer earnings of $4200 in an account with 6.2% interest, compound semi-annually. He plans to leave the money in the account for 4 years. a) What amount of money will she have at the end for 4 years? b) He had the option of investing the money at 7% compounded annually for the same term. Do you think he made the right decision? Why or why not? Support your answer with a calculation.

Q: You have an opportunity to invest in a fund that has a yearly interest rate of 6%. How much should…

A: From the given information, it is observed that FV = $15,000, r = 6%, that is, r =0.06 and t = 3.…

Q: 4. Sam invested $5000 in a high interest savings account and earns 3.5% simple interest per year.…

A:

Q: 4. Rayanna's father plans to give her monthly payments for the next 4 years as she attends…

A: To find the monthly payment of Rayanna.

Q: Labors wants to buy a boat five years from today. She will need $40,000. Lanita wants you to…

A: Step 1: Given Value for Calculation Compound = Semiannually = 2Time = t = 5 * 2 = 10Future Value =…

Q: much

A: Amount formula is given of compound interest.

Q: Bob has $45 deducted from his paycheck at the end of each month and put into a savings…

A:

Q: Melanie places $5,000 into an account that earns 6% interest compounded daily. Approximately six…

A:

Q: Angelica received a 12-year non-subsidized student loan of $16,000 at an annual interest rate of…

A: The formula for compound interest is: A = P (1 + r/n)nt Where:A = amount after interest,P =…

Q: Kat is looking to but her first car. She has figured that she can afford to make up to a $248…

A: Given that Kat is looking to buy her first car. She has figured that she can afford to make up to a…

Q: 2. You purchase a CD for $1000 on which you will earn 2.4% simple interest for each year of the…

A:

Q: A public relations writer recieved a promotion that came with a $7,000 salary increase. The writer…

A: A public relations writer recieved a promotion that came with a $7,000 salary increase. The writer…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

A:

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

A:

Q: The FernRod Motorcycle Company invested $150,000 at 4.5% compounded monthly to be used for the…

A:

Q: Jackson is trying to determine how to invest $10,000 that he inherited from his uncle Eddie.  He has…

A:

Q: Abby and George are setting up a college fund for their newborn daughter and want to have $150,000…

A: Use compound interest formula

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

A:

Q: You want to be able to withdraw $45,000 from your account each year for 30 years after you retire.…

A:

Q: Sophie graduates from college and gets a job and rents an apartment.  She knows that eventually she…

A: Annual interest rate = 6% Monthly interest rate = 6/12 = 0.5% Time period = 5 years Saving per month…

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: Grandma Riley wants to help Scott while he's in college by giving him a S220 monthly allowance for 5…

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Q: Corinne's goal is to have $20,000 to start a new cake decorating business when she retires in 14…

A:

Q: Bob makes his first $600 deposit into an IRA earning 7.2% compounded annually on his 24th birthday…

A: Consider the case where deposits are made, Periodic deposit amount R is $600. he makes a total 20…

Q: You need to borrow $20000 and will pay it all back in a lump sum in 6 years. Of the two loan options…

A: Loan A is the best loan between these two loans . Loan A will save more money to us than loan b.…