A $50,000 GIC will earn $70,000 of interest over its 10-year term. What is the monthly compounded nominal rate of interest?

Q: A financial adviser recommends a client deposit $1500 in a fund that earns 9.5% annual interest…

A: To find the interest rate per month

Q: The purchase price of an acre of land in the Louisiana purchase in 1803 was about 5 cents. Suppose…

A: Given Data: The purchase year of land is: y1=1803 The present year is: y2=2016 The buying price of…

Q: $2100 is invested at a rate of 7% compounded monthly. What is the amount after 10 years?

A: In compound interest, total amount is given by A=P[1+(r/n)]nt

Q: Find the amount borrowed if $800 is due at the end of 7 months when an annual simple interest rate…

A:

Q: Find the amount of money in an account after 10 years if $1,300 is deposited at 8​% annual interest…

A: Principal p =$1300 deposited  Rate =8% annual compounded monthly Time = 10 years To calculate total…

Q: $10,000 is deposited into an account that pays 2.4% interest compounded quarterly. How much money is…

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Q: A bond pays dividends of $110 at the end of each year. If the bond matures in 20 years, what is the…

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Q: Find how much interest $25,000 earns in 4 years in a certificate of deposit paying 9.5% interest…

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Q: A graphic artist receives $3,700 for a contracted job. The money is placed in a certificate of…

A:

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: Given, A = Accrued amount = $5000 r = Interest rate = 0.02 n = number of months = 5 t = time…

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 5…

A: Let A(t)= amount in t years.P= Prinicipal(Original investment)r=Annual interest rate(in decimal…

Q: A deposit of $2, 150 earns 6% interest compounded quarterly. How much money is in the bank after for…

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Q: Find the amount of money in an account after 4 years if $1800 is deposited at 5% annual interest…

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Q: $8,000 is borrowed at 8% per year compounded quarterly. What is the effective annual interest rate?

A: Given query is to find effective intrest rate.

Q: A saving account that has 12000$ deposited earns 2.1% annual interest compound weekly. How much…

A: A saving account that has  deposited earns  annual interest compound weekly.The objcetive is to find…

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 10…

A: Formula: A=P1+rnnt where A= Final amount P= Principal initial balance r= Rate of interest t= Time…

Q: How much would you need to deposit in an account now in order to have $4000 in the account in 10…

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