Assume that you invest $5,000 into a savings account that compounds at 8% quarterly. How long would it take for the investment to reach $7,500? Remember that for quarterly calculations we typically round all decimals up to the next quarter (0.25, 0.5, 0.75 or 1.0) as that implies we need more quarters than the value provided. a. 1.5 years b. 10.75 years c. 20.5 years d. 5.25 years ⚫e. 5.5 years

Q: You decided to invest into a mutual fund that pays 3% per year, compounded monthly. How much should…

A:

Q: If $5000 is deposited in a savings account that earns interest at an annual rate of 2.5% interest…

A: Given that $5000 deposited in savings account that earns interest at annual rate of 2.5% compounded…

Q: If a man received P12900 from his 4-year investment, how much was invested at 3% compounded…

A: We know formula for compound interest asA=P1+rnnT

Q: How much money should be deposited today in an account that earns 4% compounded semiannually so that…

A:

Q: ces Complete the following without using Table12.1. Note: Round the "Total amount" and "Total…

A:

Q: How long (in years) will it take to triple your money if it is invested in a certificate of deposit…

A: Money is invested in a certificate of deposit (CD) and it is given that,Annual interest rate = 4% =…

Q: Find the annual rate of interest required for OMR 722 to earn OMR 76 interest in 3 years

A:

Q: If you invest $1000 into an account that compounds monthly at 3%, how much would you have in 5…

A: Given data of  investment,  Principle amount, P = $1000 Interest rate, r = 3% Compounded monthly, n…

Q: Find how much money needs to be deposited now into an account to obtain $3,900 in 6 years if the…

A:

Q: How many years will it take a 1,500$ loan to grow to 2,222.32 at 14% interest, compounded annually?

A:

Q: Which of the following scenarios has the smallest doubling time? 3.3% annual interest, compounded…

A:

Q: How much do we earn if we invest $1000 at 10% compounded annually for 10 years?  Round to the…

A:

Q: How much money would you need to invest today at 6% interest compounded quarterly to have 5,387.43…

A:

Q: Inflation is causing prices to rise at a rate of 10% per year. For an item that costs $300 today,…

A: Inflation is causing prices to rise at a rate of 10% per year.

Q: QUESTION 3. $4500 is deposited for 4.5 years in an account that pays 4.5% interest compounded…

A:

Q: f $2000 is deposited in a savings account that earns interest at an annual rate of 4.5% interest…

A: The formula for continuous compounding is given by:         A = Pe^{rt}

Q: A grandparent puts $5,000 into a college education fund for a grandchild. If the fund earns 3.75%…

A: Given that: Principal(P) is $5000. The rate of interest(r) is 3.75%. Time(t) is 16 years and n is…

Q: How much should be invested now at 3.85% interest compounded monthly to have $28,000 in 16 years?…

A:

Q: What annual deposit is necessary to have $14,000 in 5 years if all the money is deposited at 1.5%…

A: To find the annual deposit

Q: QUESTION 25 Calculate the amount of interest you'll have at the end of the indicated period. You…

A:

Q: A graphic artist receives $3,700 for a contracted job. The money is placed in a certificate of…

A:

Q: An investment of P2865 is made at the beginning of each month for 10 years and 8 months. How much…

A:

Q: 3. Maria borrows $12 000 at 9%/a interest compounded monthly for 10 years. How much money will she…

A: