An online bank offers an 6% APR with daily compounding. Your local bank account pays interest every six months. How much interest will you need to earn every six months to match the online bank? ●6.09% O 3.65% 4.02% O 3.05%

Q: Mary invests $3500 at 2.75% compounded continuously. How much money will be in the account after 6…

A: Given that Invested amount=$3500 Interest compounded continuously =2.75% Time=6 years To find  How…

Q: Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20…

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Q: If $500 is invested at 4% interest, compounded annually, then after n years the investment is worth…

A: We need to find out that after 6 years what will be the invested amount become.

Q: Angela deposits $⁢5500 into an account with an APR of 3.3% for 12 years. Find the future value of…

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Q: Use the compound interest formula for compounding more than once a year to detennine the accumulated…

A: Given information Deposit amount P=$1300 APR r=6% Hence, r=6100=0.06 Since, APR is compounded…

Q: Suppose that you invested in a mutual fund that guaranteed 6.5% annual interest, compounded monthly.…

A: given p=principle=$3500r=rate per annum=6.5%n=4 =time we have find A…

Q: Which of the following is the balance for a single $2,484 deposit in an account with an APR of 1.88%…

A: Given initial amount $2,484. Interest rate r=1.88% time t=37 years.

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Q: Suppose $100 is withdrawn at the EOY 2026, emptying an account that earns 7% interest, compound…

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Q: Find the accumulated amount after 2 years if $3500 is invested at 2%/year compounded continuously.…

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Q: Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20…

A: We have to find the Balance in  account after 1 year is approximately

Q: Marcus buys a $1250 certificate of deposit (CD) that earns 6.6% interest that compounds monthly. How…

A: See the handwritten solution

Q: Silvio invested $12,000 into an account that earned 4.5% APR compounded daily for 6 years. What was…

A: As per guideline, we can solve one question if multiple question posted. please repost the other…

Q: A copy Machine depreciates at the rate of 15% each year. If the original copy of the copy machine…

A: We know, Value after time t years = Initial value × 1+rate100t

Q: Jesaki Bank offers a 10-year CD that earns 2.5% compounded continuously. If $10,000 is invested in…

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Q: Mary invests $3500 at 2.75% compounded continuously. How much money will be in the account after 6…

A: Given Principal amount p = $3500 Interest rate r = 2.75% = 0.0275 Time t = 6 years

Q: Patrick deposited $8,000 into a CD paying 2.8% compounded continuously. How much will his account be…

A: Continuous Compounding Formula : A = P·er·t where P = initial investment r = rate of interest (in…

Q: ​$1590 is compounded daily at a rate of 10​% for  7 years. Let 1 year=365 days.

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Q: Money deposited in a fund triples every 8 years. If the bank compounds the interest continuously,…

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Q: To attend school, Arianna deposits $190 at the end of every month for two and one-half years. What…

A: Convert the interest rate: . The annual interest rate is 4%, so the semi-annual interest rate is…