Hello, We are in the financial math chapter. In early 2000, Nicolas deposited $30,000 in an account that pays 5% compound interest annually. In early 2010, he transferred his savings to another bank, in an account that pays 8% compound interest annually. If he leaves his money in this account, how much will he have on January 1, 2020?

Q: Benjamin Franklin invested $2 in 1776 into an account that has a 12% interest rate,in what year will…

A: It is simple interest problem

Q: John got $5000  from his grandmother to pay her tuition fee.He invested this amount at a 10% rate of…

A:

Q: Rajeev has $175 that he earned from his summer job. He puts the money in an account that yields 4%…

A:

Q: Find the final amount of money in an account if $9,500 is deposited at 6% interest compounded weekly…

A:

Q: nicholas heard that he could triple his money in 27 years if he invested it in his friend's…

A: We can follow the step by step approach used in step 2 to get the required answer

Q: Lucy invested $10,000 in a new mutual fund account exactly three years ago. The value of the account…

A: The objective of this question is to find the value of Lucy's mutual fund account today, after three…

Q: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

A: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

Q: The future dollars of an investment at the end of 8 years is $ 132,000. Its today’s dollars is $…

A: INTEREST PAID BY BANK AT THE END OF 8YEAR=$132000-$76825=$55175 REAL RSTE OF INTEREST OF…

Q: Jasica Parker would like to have ​$69,000 to buy a new car in 4 years. To accumulate $69,000 in…

A:

Q: Brandon received a total of $10,000 as loans from his aunt Sabrina. After six years, Brandon paid…

A: Given that, Brandon received a loan of $10,000 from his aunt Sabrina.  After six years, Brandon pays…

Q: At age 32, you have assets of $284,455 and liabilities of $268,416. What is your net worth?

A: Given, assets=$284,455,liabilities=$268,416   It is required to find the net worth

Q: Britt invested some money at 8% compounded semiannually. At the end of 5 years, her investment has…

A:

Q: If you wanted to make $708 by investing $7345 for 6 years in an account that pays simple interest,…

A:

Q: If you had the choice of 5% simple interest or 5% compound interest for a savings account, which one…

A:

Q: On March 1, 2021, Gabriel opened an account with a deposit of $1000. Gabriel will continue to make…

A: From March 1, 2021 to February 1, 2028 in total there will be 7 years.

Q: When Jack started his job working for an idustrial manufacturing company, he contributed $680 at the…

A: According to the given information it is required to find how much money Jack would have at the end…

Q: Grandma decides to put 1300 dollars every month into an account for you. She makes 15 monthly…

A: Given data: The given amount is P=$1300. The given time is n=15 months. The given nominal interest…

Q: If you put $500 in a bank for 5 years and earn $75 in interest, the interest rate is 4%. O True O…

A:

Q: Marcos's savings account has a balance of $ 4,643. After 25 years, how much will your profit be at…

A: Compound interest formula:  , where A is amount after t year, P is initial amount, t is number of…

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :