A couple needs $12,136.31 as a down payment for a home. If they invested the $5,000.00 they have at 6% compounded semi-annual, how long will it take for the money to grow into $12,136.31?

Q: Ivanna wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.8%…

A: Given P=6000 n=5 m=4 r=0.078

Q: A student pays back a loan (principal + interest) of $12 344. If it compounded weekly for 4 years,…

A: A=P1+rnnt

Q: Find the investment needed today to make $ 100,000 in 5 years with a simple interest rate of 8% per…

A: Given data÷ A=$100,000 t=5 years r=8% =0.08 per year

Q: ou can afford monthly deposits of $190 into an account that pays 4.2% compounded monthly. How long…

A: Given information -  Monthly deposits = $190 Rate of interest = 4.2% The interest is compounded…

Q: Rosa Burnett needs $7,000 in three years to make the down payment on a new car. How much must she…

A: Given information Future value=$7,000 Rate of interest r=0.5% compounded annually ⇒r=0.5100=0.005…

Q: a wants to have $200,000 to buy a smaller retirement home in 20 years. If they can earn 4.5%…

A: To calculate the amount that Mika should deposit in his account now to have $200,000 in 20 years.…

Q: At age twenty six , Dick shoemaker desposited 2,000 into an IRA , where it earns 3% compounded…

A:

Q: Alexander loaned $70,000 to a small business at 4.18% compounded monthly for 1 year and 6 months.…

A: Alexander loaned  to a small business at  compounded monthly for  year and  months.We have to find…

Q: Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If…

A: The amount he invested for new car is:  P = $18,000 Interest rate:  r = 4.9% Interest is compounded…

Q: Jodie deposited $10,000 into an account paying 6.5% interest, compounded quarterly.  She needs to…

A: Let's say it will take t years to make the down payment

Q: The Martin family has decided to save up for a new swimming pool. They want to save $14,000 in four…

A:

Q: Tom deposits $25,000 in a savings deposit paying 5%, compounded monthly.  What amount would he have…

A: Given that ,principal amount that investedP=$25,000the rate of interest r=5%=5100=0.05time in…

Q: Laurie took out a business loan of $82,000 earning an annual interest of 8.2% compounded quarterly.…

A: We have to find how much Laurie need to pay towards the loan every quarter in order to pay off the…

Q: If you invest $3000 at 5% compounded quarterly, how long will it take the account to double in time?…

A: P=3000,  r=5%=0.05,  n=4

Q: Emily would like to accumulate $205,000 for his retirement in 11 years. If he is promised a rate of…

A: Emily would like to accumulate $205,000 for his retirement in 11 years. He is promised a rate of…

Q: Hsu-Mei wants to save $3,000 for a down payment on a car. To the nearest dollar, how much will she…

A: Let  be the present value you need to invest in an account.

Q: A 55-year-old man deposits $50,000 to fund an annuity with an insurance company. The money will be…

A:

Q: Juan invested $5,600 at 5.75% compounded quarterly for 7.5 years. How much will be in his account at…

A: See calculation below

Q: You inherited $12,000 from your Great-Uncle Michael.  If you invest it and average an 8% annual rate…

A: Amount compounded annually

Q: Suppose you deposit $4000 in a CD paying 5% interest, compounded monthly. How much will you have in…

A: