Assume that cigarettes cost $9.50 per pack and consider a 20 year old  college student smoker who smokes 16 packs of cigarettes per month. If the  student quits smoking and invests the amount she would have spent on  cigarettes per month in a savings plan that averages 4% compounded  monthly, how much will she have saved by the time she is 65?

Q: How long will take for a deposit of $1400 to earn total interest of $300 if the bank is offering an…

A: Simple Interest Formula : I = PTR where I = simple interest earned P = initial investment T = time…

Q: 1) Lucy invests $6500 at 3.2% p.a. interest compounded annually. Find the value of her investment…

A: Direectly use the formula for compound interest

Q: Find what simple interest rate will be necessary for Sonny to get a 40% return on a $500 investment…

A:

Q: A stock is expected to pay $1.10 per share every year indefinitely and the equity cost of capital…

A: To find the price an investor is expected to pay per share ten years in the future, we can use the…

Q: Suppose that $1000 is invested  at8%, compounded quarterly.​How much is in the  account at the end…

A:

Q: Suppose you deposit $2000 at 9% interest compounded continously. Find the average value of your…

A:

Q: Suppose $100 is withdrawn at the EOY 2026, emptying an account that earns 7% interest, compound…

A:

Q: An car depreciates (decreases in value) by 20% of its value from the previous year. If the car was…

A: Price of the car is decreases by 20% for every year. Therefore r=20% Price of car is $40,000…

Q: Suppose you invest $500 in a savings account that pays 3.5% annual interest. How much will be in the…

A: Given,          Suppose you invest $500 in a savings account that pays 3.5% annual interest,…

Q: How much interest is earned on an initial investment of $700 with a 5 % annual rate for 2 years?

A:

Q: Suppose you want to accumulate 120,00 for your retirement in 30 years. Make a single deposit into an…

A:

Q: Suppose that a sum of money is invested at an annual interest rate of 4%. Determine the time, in…

A:

Q: What simple interest rate will convert a $200 investment into $220 in one year?

A: we know the formula: simple interest (SI)=P×r×t100 where P is the principle(investment) amount, r is…

Q: A retiree requires an annual income of at least $9000 from an investment paying 7.5% annual…

A: Given: A retiree requires an annual income of at least $9000 from an investment paying 7.5% annual…

Q: A mutual fund pays a yearly interest of 3.4%. If you invested $7,000 for 5 years, what is the value…

A: Given, Invested amount=7000$ rate of interest= 3.4% No of years=5  Investment after 5 years =?

Q: A contractor has $650 worth of electrical material on the shelf in stock for 3 consecutive years. If…

A: Where A is the amount after time t P is the initial investment R is the rate of interest t is the…

Q: An employee invests £1000 at the end of each month into her Pension Fund for 30 years. What is the…

A: