A woman deposit $290 of her quarterly checks into an annuity for the education of her child. She does this at the beginning of each quarter for 8 years into an account paying 12% per year, compound quarterly. Find the amount of the annuity and the interest earned.

Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

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: Joy invests $18,000 into an account at an annual rate of 0.6% simple interest for 36 months.…

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Q: A stock pays an annual dividend of $1.14 per share. Calculate the dividends paid to a shareholder…

A: The dividend paid for a stock is $1.14 per share. The number of shares a shareholder has is 305.

Q: Mark deposits $1000 at the end of every 6 months in his bank account. If the bank pays 6% compounded…

A: Given, Mark deposits $1000 at the end of every 6 months in his bank account. If the bank pays 6%…

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: Towed $3000 from his brother Dave. He agreed to repay the money at the end of 2 year the money had…

A: In this question, the concept of compound interest is applied. Compound Interest Compound interest…

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

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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: 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: Find the interest due on $1,400 at 9% for 270 days

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Q: present value of the loan

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Q: Johnson placed $15,000 into his credit union account paying 7% compounded semiannullay. How much…

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Q: Daisy invests $75 per month in an annuity that pays 4% interest. Determine the future value of the…

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Q: Find the principal invested if $495 interest was earned in 3 years at an interest rate of 6%.

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

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Q: Find the amount due if $400 is borrowed for 14 months at 17% simple interest. Amount = $

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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: Jeanalyn is saving P6,000 every end of quarter for 8 years for the college education of her only…

A: P= p6000  Time =8 years  Interest rate (r) = 14%  Find the amount in 8 years if compounded…

Q: Find the annual simple interest rate of a loan, where $600 is borrowed and where $666 is repaid at…

A: Given data: Principle  = $600 Amount = $666 Time period = 15 months To find: Annual simple interest…

Q: A loan worth $5600 collect simple interest each year for 12 years. At the end of the time, a total…

A: The full form of APR is annual percentage rate which is annual rate of interest charged on loan.

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.