Annabelle invested $70,000 in an account paying an interest rate of 6.1% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 9 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: 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: Determine the value of an account after 10 years if a principal amount of 11000 was deposited with…

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Q: Find the amount borrowed if $800 is due at the end of 7 months when an annual simple interest rate…

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Q: Jenny invests $9,000 at 8% compounded annually in an annuity. How long until Jenny has $18,000

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Q: You deposit $10000 in a bank that pays annul interest rate of 6% compounded quarterly. How much your…

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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: Grandma Riley wants to help Scott while he's in college by giving him a $220 monthly allowance for 5…

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Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest…

A: The expression used to evaluate the amount in compound interest is as follows: Amount =P1+r100nnt,…

Q: Mary deposits $9,000 in a bank account that guarantees a simple interest rate of 7.5% per year. How…

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Q: Find the present value if $8600 is compounded quarterly for 4 years.

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Q: At the beginning of each quarter, $1,650 is deposited into a college fund. The fund earns 7% annual…

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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: Find the final amount of money in an account if $7, 600 is deposited at 6.5% interest compounded…

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Q: A bond pays dividends of $110 at the end of each year. If the bond matures in 20 years, what is the…

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Q: To save for retirement, a student invests $30 each month in an ordinary annuity with 3% interest…

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Q: Find the amount of money owed at the end of 5 years if $60,000 is borrowed at 7% per year compounded…

A: Here we have to find amount of money at the end of 5 years if money borrowed is $60, 000 at 7% rate…

Q: John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How…

A: Initial deposite= P= 2000 Final amount=A=? Time=t= 4 years  Interest rate = 5.8%=0.058  Number of…

Q: John made periodic deposits of $300 to Floor Bank, which pays 8% interest compounded semiannually.…

A: Given: The value of Periodic Deposit is $300 The value of Annual Interest Rate is 8.00% compounded…

Q: 36,000 is invested at 5.5% compounded annually for 8 years. a. Find the final amount b. Find the…

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Q: Suppose you want to have $800,000 for retirement in 30 years. Your account earns 9% interest. How…

A: Given, Future value (FV) = $800,000 Rate of interest (r) = 9% Time (t) = 30 years n = 12 ( months)…

Q: Find how much interest $25,000 earns in 4 years in a certificate of deposit paying 9.5% interest…

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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…