A newborn child receives a $6,000 gift toward a college education from her grandparents. How much will the $6,000 be worth in 19 years if it is invested at 6.2% compounded quarterly? It will be worth $ (Round to the nearest cent.) ...

Q: John and Rosamond want to retire in 15 years and can save $150 every three months. They plan to…

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Q: Suppose you see a car with an advertised price of $14,500 at $410.83 per month for 4 years. What is…

A: Given that :Suppose you see a car with an advertised price of $14,500 at $410.83 per month for 4…

Q: A borrower had loan of $5500 at 5.1% compounded semiannually, with 18 semiannual payments. Suppose…

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Q: Find the accumulated value of an investment of $20,000 at 5.25​% compounded annually for 12 years.…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: How much interest will an account earn if you deposited $715 semi-annually for 11 years and the…

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Q: An investment company pays 4​% compounded semiannually. You want to have $17,000 in the future.

A: To determine how much money you need to invest now to have $17,000 in the future, we can use the…

Q: A family wants to have a $150,000 college fund for their children at the end of 20 years. What…

A: Given that future value  FV=$ 150,000 Interest rate r=7.6%=7.6100=0.076Compounded quarterly m=4…

Q: If $7,000 is invested at 3% compounded quarterly, what is the amount after 5 years? The amount after…

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Q: f $9,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

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Q: An investment offers an interest rate of 4% compounded quarterly. Kamala invested an amount of $X in…

A: Given: invested amount(P)=$X, time(T)=6 years, interest rate(r)=4%(compounded quarterly), amount of…