Find how much money needs to be deposited now into an account to obtain $1,200 (Future Value) in 15 years if the interest rate is 7% per year compounded monthly (12 times per year).

Q: If you deposit 9000$ into an account paying 5.5% annual interest compounded semiannually, how much…

A: As we know that the expression for the compound interest is:   A=P1+rnnt   Where P is the principal…

Q: suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every…

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Q: Find the amount due at the end of 8 years and 6 months if P4, 000 is invested at 7% compounded…

A: Principal amount:  $ 4000 Interest Rate:  r = 7% Time Period:  t = 8 year 6 months

Q: Find the amount borrowed if $800 is due at the end of 7 months when an annual simple interest rate…

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Q: Suppose that $1000 is deposited in a savings account that pays 6% per annum, compounded quarterly.…

A: Given: Initial deposit is 1000 dollars i.e. P=1000  dollars Rate of interest per year is 6% i.e.…

Q: How much must be deposited now to withdraw $4,000 at the end of each year for 20 years if interest…

A: Calculate the present value of an ordinary annuity by using tables use the following steps. Step 1.…

Q: Suppose you deposit S2000 in an individual retirement account ( IRN) that pays interest at 6%…

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Q: Suppose you borrow $7,500 from a bank that charges 4% interest compounded monthly. How much will you…

A: From the given information, it is observed that the Principal is P = $7500, the rate of interest is…

Q: If $1800 is deposited in anaccount that pays 2.7% annual interest compounded monthly, what amount…

A: P=$1800r=2.7%=2.7100=0.027t=9n=12

Q: Suppose you deposit $10,000 into a savings account that earns 3.5% interest compounded quarterly.…

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Q: Find how much money needs to be deposited now into an account to obtain $900 (Future Value) in 9…

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

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Q: A deposit of $1000 is made into an account that earns interest at an annual rate of 5%. If allowed…

A: what would be the resulting total account balance if the interestcompounded monthly?

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: Find the present value that will grow to ​$24,000 if interest is 5​% compounded quarterly for 13…

A: Find the present value that will grow to ​$24,000 if interest is 5% compounded quarterly for 13…

Q: Find the present value that will grow to $2,000 if the annual interest rate is 8.5% compounded…

A: To find the present value which will grow to $2000, with the annual interest rate is 8.5% compounded…

Q: Suppose that a person deposits $10,000 in a savings account at a bank yielding 11% per year with…

A: The compound interest formula : A=P1+rnnt, where , A= Final amount P=Principal or Initial…

Q: Suppose you want to have $700,000 for retirement in 35 years. Your account earns 5% interest…

A: Annuity formula               A=PMT((1+rn)nt-1)(rn) where PMT= regular monthly deposit amount…