Assume $5000 is deposited in an account that pays 6% annual interest. How much more would be in the account after 25 years if it were compounded monthly rather than quarterly? $[ ? ]

Q: How much time is n for $300 to accumul

A: Introduction: The formula of compound interest is given by, A=P1+rnnt Where A is the final amount, P…

Q: Find the final amount of money in an account if $3,900$3,900 is deposited at 7%7% interest…

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Q: Suppose you invest $180 a month for 6 years into an account earning 7% compounded monthly. After 6…

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Q: Assume that Bob deposited $3,000 per year in a bank account. Since the bank offered a compound…

A: As per the question we are given the principal deposited after each year as $3,000 ; the annual…

Q: how much will deposits of dollar 200 made at the end of each quartar amount to after 9 years if…

A: The process of depositing an amount after each fixed time is called recurrent deposits. The final…

Q: Suppose that $7,000 is invested at 4%, compounded semiannually. How much is in the account at the…

A: Amount for compound interest:If P amount of money is invested for t years at r% rate of interest…

Q: A person deposits $300 on the last day of each quarter into a savings account that pays 9​%…

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Q: How much will $12,700 become if it earns 8% annual interest, compounded quarterly, for 60 years?

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Q: Use the present value formula to determine the amount to be invested now, or the present value…

A: Given that, The desired accumulated amount =$85,000 compound semiannually interest rate=8% Number of…

Q: How much money would be in an account if $ 700 $ 700 is deposited at 2.5 % 2.5 % interest compounded…

A: Given that, the deposited amount is P=$700, the rate is r=0.025, the interest is compounded weekly…

Q: Suppose you Invest $170 a month for 4 years Into an account earning 9% compounded monthly. After 4…

A: Consider the given information.

Q: The desired accumulated amount is $60,000after 11 years invested in an account with 2.3% interest…

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Q: Suppose you invest $170 a month for 3 years into an account earning 8% compounded monthly. After 3…

A: Given that you invest $170 a month for 3 years into an account earning 8% compounded monthly. After…

Q: A deposit of $15,000 is made in a trust fund that pays 3.5% interest, compounded semi-annually. It…

A: Given that, the amount invested is: P=$15,000. The rate of interest is: r=3.5100r=0.035 The time is:…