A graphic artist receives $3,700 for a contracted job. The money is placed in a certificate of deposit with a continuously compounded annual interest rate of 3.23%. What is the total account balance after 4 years?

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 9% interest. How…

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Q: A $2200 bond earns 9.3% compounded monthly for 9 years. Determine the amount of the investment at…

A: A $2200 bond earns 9.3% compounded monthly for 9 years.

Q: Determine the value of an account after 10 years if a principal amount of 11000 was deposited with…

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Q: To save for her high school graduation, Jenny decided to save P1,250.00 at the end of each month. If…

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Q: $102 is invested in an annuity at the end of every month at 8.5%.  Find the value of the annuity at…

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Q: Melissa Blum deposits $7500 of lottery winnings in an account paying 6% interest compounded monthly.…

A: Effective rate for compound interest: If r is the annual stated rate if interest and m is the number…

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: Determine the interest earned if $87000 is invested at 1.7% simple interest for 47 months.

A: .

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

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Q: Calculate the simple interest earned in 1 year on a deposit of $1900 if the interest rate is 8%.

A: *** This is the problem related to financial mathematics and we are Advanced math expert and have…

Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

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: Suppose that you borrow $13,000 for four years at 6% toward the purchase of a car. Find the monthly…

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Q: Kevin takes out a $350 000 mortgage for 30 years at 2.05% annual interest compounded quarterly. His…

A: The EMI i.e. the monthly payment required to be done by Kevin includes the interest component to be…

Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest. How…

A: Given, Future value (FV) = $800,000 Rate of interest (r) = 9% Time (t) = 30 years n = 12 ( months)…

Q: You have 300,000 saved for retirement. Your account earns 4% interest. How much will you be able to…

A: Given that, You have 300,000 saved for retirement. Your account earns 4% interest. We need to find…

Q: Suzy put some money into an accout paying 5.5% interest compuunded continuously for 12 years. She…

A: Given,   Interest rate = 5.5 %   Total amount she has after 12 years = A = $18,900   And it is…

Q: The cost to purchase the house that Bainters are considering is $195, 000, but the Bainters plan to…

A: Given that, The total cost of the house $195,000. Plan to make down payment $40,000. Time is 30…

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

A:

Q: A freelance artist is paid $3,520 for a contracted job. The money is invested in a savings account…

A: Paid amount = $3520Rate = 3.05 %Time = 6 months = 1/2 years Compunded monthly Formula for compounded…

Q: Find the principal if $245 in interest is due after 10 months at 7%

A: By using formula of simple interest.

Q: How much will Lee receive at the end of 4 years?

A: Principle, P = $18,400 Annual interest rate, r = 8% = 0.08 No. of times interest compounded per…

Q: You have $ 147,196 saved for retirement. Your account earns 9.6 % interest. How much will you be…

A: Given Data: The balance in the account at the beginning is: P=147196 $ The annual interest rate is:…

Q: Determine the interest earned if $5000 is invested at 4.3% simple interest for 9 years.

A: We have direct formula for simple interest.