A couple needs $34,746.97 as a down payment for a home. If they invested the $11,000.00 they have at 7% compounded annual, how long will it take for the money to grow into $34,746.97? years. (If needed, round your answer to 1 decimal place.) It will take

Q: You invest $600 into an account that earns 4% interest compounded monthly. How long until the value…

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Q: Camilla has $18,220 in a savings account. The interest rate is 5% per year and is not compounded. To…

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Q: you deposit $5,000 in a fund that pays 6% interest, compounded monthly. In how many years, the…

A: Given that initial amount = P=5000 Final amount= A= 15000 Interest rate = r = 6%=0.06 Time=t=?…

Q: Quincy deposited $10 in a saving account earning 10% interest compounded annually to the nearest how…

A: Solution

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: Caroline wants to have $10,000 in 5 years after investing in an account that earns 7.3% compounded…

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Q: A deposit of $386 is in a bank for 35 years earning interest rate of 11.5%. Find interest earned if…

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Q: We put $2000 in a savings account getting 6% interest compounded daily for 5 years. how much…

A: We put $2000 in a savings account getting 6% interest compounded daily for 5 years. We have to find…

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: $25,000 is deposited into an account that pays 6.75% interest compounded continously. How long will…

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Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 4%…

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Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in…

A: Given data is : Loan P=$11500 Interest rate r=3.8%, compounded annually. Time t=3 years To find the…

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

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Q: A gift of $9000 to a city grew to $10,000,000 in 200 years. At what interest rate compounded…

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Q: Suppose you have $2700 in your savings account at the end of a certain period of time. You invested…

A: Given: Principal amount P= $2000 Future value A= $2700  Rate r= 7.47 % annually To find time t (…

Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Q: Find the original investment in an account if the final amount of money is $8296. It was invested in…

A: Given amount=$8296

Q: Sarah deposited $3000 in an account paying 5.3% per annum compounded semi- annually.

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Q: A man wants to buy a $33,000 car. He will put 20 % down and finance the rest over 4 years. How much…

A: Cost of car = 33,000 Down payment = 6,600 Loan amount = 26,400 Here P (principal amount)=26,400 R=…

Q: Amy, who is 25, deposits $400 every 3 months into an account that earns 3.66 compounded quarterly.…

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Q: James has $500 to put into a savings account and his bank gives a 4% interest rate compounded…

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