A bank account increases the amount of money in the account by 4% each year. Initally, $1,500 is invested in the account. How much money is in the account after 5 years?

Q: $3280 at 0.3%. simple interest paid back in 9 years how much was paid in total?

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Q: A person buys a boat for $32,750. The boat loses value at a rate of 4.2% per year. What will the…

A: Given: The boat price is(Amount)=$32,750 Rate of interest(loses value)=4.2% To find: The value of…

Q: A diamond ring worth $12 500 increases in value 6% per year. Determine the value of the ring in 6…

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Q: You deposit $980 in a savings account paying 3.8% simple interest. How much interest will you earn…

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Q: A new car depreciates each year by 2.8%. When the car is 8 years old, it has a value of $42,547.24.…

A: The formula to calculate depreciation on a car is given below: where, V is the amount of the car…

Q: Lenders such as banks, credit unions, and mortgage companies make loans. The person receiving the…

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Q: You put ​$200 per month in an investment plan that pays an APR of 4.5​%. How much money will you…

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Q: House cost $225,000, you put 20% down. Get 30 yr loan at 3%. How much interest did you pay over 30…

A: Given problem is :

Q: Suppose you spent $800 on clothing in the past six months. Suppose you save this same 20% each year…

A: Given that, The total cost of clothing is $800. Now, saving 20% of $800 in a year is, 20100×800=$160

Q: You deposit $1550 in a savings account paying 3.7% simple interest. How much interest will you earn…

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Q: Your parents buy a new computer for you at a cost of $2500. The computer depreciates (decreases) in…

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Q: 1. Kevin invests $725 at 5.2%/a simple interest. What is the total amount in Kevin's account at the…

A: For principal amount P, and simple interest r%/a, the amount after t years         = P(1 + rt/100)

Q: You invest $3075.00 into a savings account and make no deposits for 10 years. The account compounds…

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Q: you pay $6200 for a municipal bond. When it matures after 16 years, you receive $11,800. a. The…

A: (a)The future value FV=$11,800Present value PV=$6,200r= rate of return per annumn= number of…

Q: A person has ​$1,264 in your bank account that is paying an interest rate of 2.7​% ​(0.027​) per…

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Q: 6. The value of a new speed boat depreciates at a rate of 7% per year. If the boat was bought for…

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Q: A time deposit account In a bank yields 5.5% compound interest Annually . Jennifer invested P 450 ,…

A: The formula for the amount for compound interest is given by  A=P1+r100t where P is the principal…

Q: A new laptop computer costs $15pp. The value of the computer decreases bye 22%each year. How much is…

A: P(t)=P0(1-r)t P0=Initial pricer=rate of decreaset=time

Q: Michelle deposits P1o,000 in an account that eams 8% simple interest. How long will it take for the…

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Q: A savings account that has 850$ deposited on march 1st earns 0.4% annual interest compounded daily.…

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Q: You put $399 per month in an investment plan that pays an ApR 6%. How much money will you have after…

A: Given: PMT=$399 APR=6% money after 15 years =?

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