A principal amount of $1,300 is placed in a savings account with an annual interest rate of 5.95% compounded quarterly. How much interest does the account earn after 12 years?

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A: Given problem Given that   A = $ 2000 T = 15 years Rate of interest = 7% = 0.07 Compounded monthly…

Q: How much would you need to deposit in an account now in order to have $2000 in the account in 15…

A: NOTE: Refresh your page if you can't see any equations. . here we have A=2000 future value)…

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: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

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

A: We have given,

Q: Find the amount of an investment of $25,000 earning 6% interest for 3 years compounding quarterly

A: Given that $25,000 is invested earning 6% interest for 3 years compounding quarterly. It is required…

Q: A credit card has a compound interest rate of 22.5% per year on overdue balances. How much interest…

A: According to question given thatCredit card interest rate= 22.5% per yearBalance= $485.00

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: $10,000 is invested for 10 years with an APR of 2% and quarterly compounding.

A: Given information P=$10,000 Rate of interest r=2%  ⇒r=2100=0.02 Time t=10 years For quarterly…

Q: Berno deposits $30,000 into an account paying 3.25% annual interest, compounded quarterly. How much…

A:

Q: Rachel deposits $12,000 into a fixed asset account that earns 6% compounded quarterly. What is…

A: Formula:      where FV = Future Value          PV = The principal amount (the initial amount of…

Q: How much would you need to deposit in an account now in order to have $4000 in the account in 5…

A: Given: Rate of interest 6% compounded monthly Amount A =$4000 interest rate r=6%=0.06 n=12 t=5 years…

Q: A $ 100 deposit is made into a college fund at the beginning of each month for 10 years. The fund…

A: Consider the given information. The deposit amount is $100. The rate is 9% and the time is 10 years.…

Q: $3000 is invested for 19 years with an APR of 3.88% and monthly compounding, The account balance…

A:

Q: you deposit $300 each month into an account earning 2% interest compounded monthly. How much will…

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: Given the principal of $5000 and an investment that pays 8% interest, compounded monthly. How much…

A: Consider the given information.   The principal amount is $5000 at the rate of 8% and invested for 7…

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…

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