Ashton wants to invest $9,000.00 in a savings account that pays 4.74% simple interest. How long will it take for this investment to reach a value of $12,400.00? Round your answer to the nearest tenth of a year. It will take years for the investment to reach a value of $12,400.00.

Q: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: Caroline wants to have $10,000 in 5 years after investing in an account that earns 7.3% compounded…

A:

Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 12%…

A:

Q: Cindy plans to invest for 10 years at 1.5%, compounded annually. If she hopes to have $10,000 after…

A: Consider the following information: AmountA=$10,000Rate of interestr=1.5⁒n=1Time periodt=10 years…

Q: Find the investment needed today to make $ 100,000 in 5 years with a simple interest rate of 8% per…

A: Given data÷ A=$100,000 t=5 years r=8% =0.08 per year

Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 4%…

A:

Q: You have $7000 to invest for seven years. Which investment will provide the greater return:  5%…

A:

Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

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

A:

Q: a wants to have $200,000 to buy a smaller retirement home in 20 years. If they can earn 4.5%…

A: To calculate the amount that Mika should deposit in his account now to have $200,000 in 20 years.…

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

A: See the handwritten solution

Q: You put $8,000 into an account that earns 4% interest compounded annually. How much money will be in…

A: We have to apply the compound interest formula for the given problem.

Q: Cameron starts an IRA (Individual Retirement Account) at the age of 36 to save for retirement. She…

A: The objective of this question is to calculate the total amount of money Cameron will have in her…

Q: Cameron starts an IRA (Individual Retirement Account) at the age of 32 to save for retirement. She…

A: The objective of this question is to calculate the total amount of money Cameron will have in her…

Q: Karl buys a $2500 investment certificate that pays 3.75% simple interest per year. How much more…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Q: Sam begins saving for a down payment on a house using an investment account. The account earns…

A: Let's find.

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 need to borrow $20000 and will pay it all back in a lump sum in 6 years. Of the two loan options…

A: Loan A is the best loan between these two loans . Loan A will save more money to us than loan b.…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.