Find the interest rate for a $6000 deposit accumulating to $7791.53, compounded quarterly for 7 years. The interest rate is %. (Round to two decimal places as needed)

Q: Find the accumulated amount at the end of 11 months on a $2100 bank deposit paying simple interest…

A: Given, period=11 months Amount= $2100 interest at a rate of 9%/year. To find the accumulated amount…

Q: At graduation, you have a student loan of $22,000. The loan has a fixed annual interest rate of…

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Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: Find the periodic payment which will amount to a sum of $14000 if an interest rate 8% is compounded…

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

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Q: Find the interest rate for each deposit and compound amount. 6) $8000 accumulating to $12,384.48,…

A: Recall the following fact.

Q: At graduation, you have a student loan of $20,000. The loan has a fixed annual interest rate of…

A: Now the monthly payments when the loan amount is P taken for n months at a rate of r% is…

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

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Q: 2,000 for 2 years at 4.5% compounded monthly. Find the total amount accumulated.

A: Initial amount= P= 2000  Time= t= 2 years  Interest rate= 4.5% = 0.045  Final amount=A=? Number of…

Q: Find the amount of an investment of $25,000 earning 6% interest for 3 years compounding quarterly

A: Given that $25,000 is invested earning 6% interest for 3 years compounding quarterly. It is required…

Q: $102 is invested in an annuity at the end of every month at 8.5%.  Find the value of the annuity at…

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Q: $200 is deposited monthly into an ordinary annuity that earns 1.6% per month compounded monthly.…

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Q: Calculate the amount of interest earned in 9 years on $17,000 deposited in an account paying 10%…

A: The objective of this question is to calculate the amount of interest earned on a deposit over a…

Q: A credit card has a compound interest rate of 22.5% per year on overdue balances. How much interest…

A: According to question given thatCredit card interest rate= 22.5% per yearBalance= $485.00

Q: Find the effective rate of interest.; For 6% compounded monthly

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Q: Find the effective rate of interest.For 5% compounded quarterly

A: Effective interest rate is the equivalent annual interest rate compounded annually which is…

Q: Find the simple interest (in dollars) due on a 31-day loan of $950 if the annual simple interest…

A: The provided information is as follows:The principal amount is .The total number of days is .The…

Q: Find the amount necessary to fund the given withdrawals. Monthly withdrawals of $550 for 7 years;…

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Q: Steven put money into an account six years ago that earns an annual interest rate of 8% compounded…

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Q: Jason deposits $ 5000 into his savings account at the end of every 3 months for 4 years. For the…

A: Please see the attachment

Q: Determine the amount to be paid back if $6500 is borrowed for 9 years at 2.5% compounded annually.

A: We have direct formula for compound maturity amount, i have used that.

Q: A share valued at $256.50 pays quarterly dividends in perpetuity at a rate of return of 3.50%…

A: Given: Dividend:$256.50 i=3.50%  i.e. 0.035 n=2 The effective rate of interest is obtained by the…

Q: I will invest Nu. 500 per quarter for my retirement at 7.3% compounding quarterly for 32 years. I…

A: Given information Quarterly deposit P=$500 Annual interest rate  r=7.3% Period of paymentn=32 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: Find the principal to get $1000 after 2 years at 6% compounded quarterly?  Round to nearest cent.

A: It is given that, the amount after 2 years is A = $1000, n = 4 since compounded quarterly, r = 0.06.…