Angela deposits $⁢5500 into an account with an APR of 2.4% for 7 years. Find the future value of the account if interest is compounded monthly. Round your answer to the nearest hundredth, if necessary.

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: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: ys has a balance of $532 on his credit card. the account has a 19% annual interest rate , compounded…

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Q: $10,000 is deposited for 2 years in an account that earns 5% interest.  calculate the simple…

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Q: Angela deposits $⁢5500 into an account with an APR of 2.4% for 7 years. Find the future value of the…

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Q: Yoy deposit $200 each month in an account earning 3% interest compounded monthly. How much total…

A: Given that $200 deposited each month in an account and earning 3% interest compounded monthly.

Q: Sarah invests $4848 in a savings account with an annual interest rate of 5% compounded 2 times per…

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Q: Find the interest earned for $2,300 which is invested at 18% compounded monthly for 48 months?…

A: Find the interest earned for $2300 which is invested at 18% compounded monthly for 48 months?

Q: Sam deposits $600 at the end of every 6 months in an account that pays 8%, compounded semiannually.…

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Q: You deposit $3000 in an account earning 5% interest compounded monthly. How much will you have in…

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Q: Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in…

A: Given data is : Loan P=$11500 Interest rate r=3.8%, compounded annually. Time t=3 years To find the…

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: 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: Maura received $1000 from friends and family for college graduation. If she deposits her money into…

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Q: Kelly paid off his student loan in 3 years by making payments of $650 at the beginning of every…

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Q: Mitchell invested $4583 at 5.61% compounded quarterly. Calculate the accumulated value of the…

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Q: Find the simple interest of $1,000 borrowed at 6% for 4 years.

A: Given: The principal amount = $1000. The rate of interest = 6%. The time =4 years.

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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Q: Cathy makes a single deposit into an account earning 2.5% compounded monthly. After five years the…

A: used formula: A=P(1+r/n)nt   where P=initial amount or principal A=final value or final amount…

Q: At the beginning of every three months, a college student deposits P3,000 in a fund that gives 2%…

A: Given:      Principal =$3000     Quarterly Interest rate =2%=2%4=0.5%=0.005     number of times n=3…