Karen wishes to have $16,422 cash for a new car 6 years from now. How much should be placed in an account now, if the account pays 5.3% annual interest rate, compounded weekly?

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: In 2012 the maximum social security deposit by an individual was $8,386.75. Suppose you are 30 and…

A: Given that The yearly deposit amount PMT=$8386.75Interest rate r =3%=3100=0.03Componded annually ,…

Q: Pesse Jinkman, a chemistry student at PCC, will be depositing $15,000 at the end of every quarter…

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Q: Jennifer is the owner of a video game and entertainment software retail store. She is currently…

A: It is given that, the monthly retirement amount Jennifer wishes to withdraw per month is $10,000.…

Q: You can afford monthly deposit of only $150 into an account that pays 8.5% compounded monthly. How…

A: Let n be the number of periods (months) Periodic payment = 150  Future value = 7000  Rate of…

Q: Jayden just graduated from college and owes $19,400 on his student loans. The bank charges an annual…

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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: a wants to have $200,000 to buy a smaller retirement home in 20 years. If they can earn 4.5%…

A: To calculate the amount that Mika should deposit in his account now to have $200,000 in 20 years.…

Q: Frank Steed wants to open a camera shop. How much must he deposit now at 6% interest compounded…

A: To find the amount which should be deposited now at 6% interest compounded monthly to have $25,000…

Q: . Find the size of the payments if money earns 3% compounding quarterly.

A: Given: Helen has borrowed $4000, and agreed to pay it back in two equal payments to be made in 6…

Q: present value of this $6000?

A: Given that  Promised to give money is $6000 = A Time period (t)  = 8 years  Interest rate (I)  = 6%…

Q: Tom deposits $25,000 in a savings deposit paying 5%, compounded monthly.  What amount would he have…

A: Given that ,principal amount that investedP=$25,000the rate of interest r=5%=5100=0.05time in…

Q: Laurie took out a business loan of $82,000 earning an annual interest of 8.2% compounded quarterly.…

A: We have to find how much Laurie need to pay towards the loan every quarter in order to pay off the…

Q: John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How…

A: Initial deposite= P= 2000 Final amount=A=? Time=t= 4 years  Interest rate = 5.8%=0.058  Number of…

Q: Linda has joined a "Christmas Fund Club" at her bank. At the end of every month, December through…

A: Solution :-

Q: Emily would like to accumulate $205,000 for his retirement in 11 years. If he is promised a rate of…

A: Emily would like to accumulate $205,000 for his retirement in 11 years. He is promised a rate of…

Q: Janet’s payments on her $12,500 car are $420 a month for 3 years. Assuming that interest is…

A: Janet’s payments on her $12,500 car are $420 a month for 3 years. P = $12,500, t = 3 years & n =…

Q: s a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A: This is a basic question testing the application of compound interest. We just have to plug-in the…

Q: Ms. Whodunit needs $10 000 to go on her dream vacation in three years. How much does she need to…

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Q: Erin would like to buy a $350,000 apartment when she retires in 10 years. How much should she…

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Q: Suppose you deposit $4000 in a CD paying 5% interest, compounded monthly. How much will you have in…

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Q: Suppose you deposit $500 at the end of each quarter into an account that pays 3% annual…

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