Cameroon is saving for his retirement 24 years from now by setting up a savings plan he has set up a ceiling plan where he will deposit $1.85 at the end of each year for the next 15 years interest is 11% compounded annually a how much money will be in his account on the date of retirement B how much will camera on contribute see how much will be interest.

Q: Suppose you want to have $1,500,000 in 40 years. Calculate how much you need to deposit per month in…

A: Solution: Calculation of amount that will be deposited per month: Principal amount…

Q: of the T-bill, the interest earned, and the simple interest rate paid on the bill. Price of the…

A:

Q: Determine the value of an account after 10 years if a principal amount of 11000 was deposited with…

A:

Q: The principal represents an amount of money deposited in a savings account subject to compound…

A:

Q: Assume that you make quarterly payments of $ 750 into an annuity paying 5% interest compounded…

A:

Q: $ 9000 loan is to be paid in 3 years at 3.6% compound interest per year, the accrued interest and…

A: =>Total amount of money to pay off the loan = Total payment at the end of first year +Total…

Q: You know you will have $25,000,000 in your account when you retire. You want to be able to take…

A:

Q: in months in dollars 0 450 1 4

A: Here, in the question given an investment in dollars increases at a constant rate. The interest rate…

Q: loan of P200000 is to be repaid in full after 3years.If the interest rate is 8percent per annum.how…

A:

Q: placed in a savings account at 3% per annum compounded annually. How much is in the account in…

A: Topic = Algebra

Q: Find the future value and interest earned when RM6 000 invested for 8 years at 12% compounded…

A:

Q: If P25,000 is deposited in an account that earns interest compounded monthly becomes P32,000 after 2…

A: Given Information - Amount deposited in the account = P25,000 Amount after 2 years = P32,000 We have…

Q: If money is worth 4 % compounded monthly, what payment at the end of each quarter will replace…

A: The value of r compounded monthly , r=4% compounded monthly=412%  Number of months in each quarter =…

Q: To save for graduate school, a student invests $1470 semiannually in an ordinary annuity with 3%…

A: To save for graduate school, a student invests $1470 semiannually in an ordinary annuity with 3%…

Q: 7) Find the value of a retirement savings account with a monthly contribution of $50 (contributions…

A: Monthly investment  = $50 Interest rate = 4.8% per year i.e. 0.4% per month

Q: A family decide to save some money in an account that pays 9% annual compound interest calculated at…

A:

Q: You saved $1,240 and your sister agrees to put it in a savings account at her credit union so you…

A: P=1240,  r=8%=0.08,  t=2  &  n=4.

Q: Nick wants to buy a secondhand tricycle worth P40,000. He can pay a down payment of P5.000 and the…

A: price of secondhand tricycle = 40000 Down payment = 5000 Interest, i = 3.5% Monthly payment paid by…

Q: You make a payment of $300 at the beginning of each month into an account that 3.6%annual interest.…

A:

Q: 85,000 is deposited in a saving account with 6.35% annual interest. When will be the initial sum…

A: To solve this problem, we can use the formula for compound interest:

Q: Find the simple interest on a $500 investment made for 2 years at an interest rate of 8% per year.…

A: We have given that principal amount (P) = $500Rate of interest (r) = 8%Time (t) = 2 years

Q: A local university received a $500,000.00 gift to establish an endowment fund for a student…

A: Answer:- value of the fund 56 years from now = 500,000 *[(1+0.02/2)^(2*8) ]=586289.322462…

Q: If P3000 is deposited in a savings account paying 3% a year. How much will you have in the account…

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Q: After 5.63years, the principal amount tripled. If the interest rate is 5%. What is the method of…

A: Use the formula for the compound interest and then find the method.