A savings account has $100 in it after the first month. Each month, you deposit $25. Assuming no withdrawals are made, how much will you have at the end of 7 years? Round your answer to the nearest dollar. (Note: 7 years is 84 months)

Q: You deposit $5000 in an account earning 8% interest compounded monthly. How much will you have in…

A: The objective of this question is to calculate the future value of an investment with monthly…

Q: Tuition of $1830 will be due when the spring term begins in 6 months. What amount should a student…

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

A: We have given,

Q: A woman buys a house for a $340,000. She pays $40,000 down and takes out a mortgage at 5.7% for 20…

A: Value of house=340000 Down payment = $40000 So, Amount left for mortgage = 340000 - 40000 = 300000…

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Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

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Q: You deposit $5000 each year into an account earning 4.1% interest. How much will you have in the…

A: Please find the answer in next step.

Q: You have $3,500 on a credit card that charges a 13% interest rate. If you want to pay off the credit…

A: Credit amount Rate of interest Time period  year

Q: Gilberto opened a savings account for his daughter and deposited $700 on the day she was born. Each…

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Q: A retiree invests $8,000 in a savings plan that pays 6% per year. What will the account balance be…

A: Given  invested amount  =  $ 8,000 intrest rate  = 6% per year

Q: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in…

A: The continuous compounding formula is, Pt=P0ert In the formula, P0 is original principle sum, r be…

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

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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: borrows $6,500, at  6 1 2%  interest, for 150 days. If the bank uses the ordinary interest method,…

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Q: ​Annie's cafe borrows $9,400 at 5​% for 240 days. Find the total amount that must be repaid after…

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Q: You have $400,000 saved for retirement. Your account earns 10% interest. How much will you be able…

A: Value(P) = $400,000  Interest (r) = 10%  = 0.10 Time (t)= 15 years  Payout annuity :  P = PMT * (1-(…

Q: You deposit $5000 each year into an account earning 7% interest compounded annually. How much will…

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Q: loan

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Q: You purchase a new car for $19,500.             If you borrow $19,500 for 5 years with an interest…

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