How long will it take for $3000 to grow to $7000 if the investment earns. an interst rate of 4% per year compounded Semiannually.

Q: How much time is n for $300 to accumul

A: Introduction: The formula of compound interest is given by, A=P1+rnnt Where A is the final amount, P…

Q: Mary invests $3500 at 2.75% compounded continuously. How much money will be in the account after 6…

A: Given that Invested amount=$3500 Interest compounded continuously =2.75% Time=6 years To find  How…

Q: ). How much will Katie need to save each month if she wants to put $55,000 down in cash on a hous In…

A: Formula for the annuity is  FV=R1+in-1i We are given FV=$55000n=2×12=24i=61200 (since 1 year = 12…

Q: Gem plans to purchase an e-bike in 6 months so they open an account earning an annual interest of…

A: We have to find how much money is needed to open the account in order to reach the goal using given…

Q: Charlie invests $8,000 into an account to save for college. If the investment is compounded annually…

A: We know, when a Principal amount ( P ) is compounded annually with an interest rate 'r' % and for 't…

Q: Find the interest rate needed for an investment of $4000 to quadruple in 12 years if interest is…

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Q: Find the investment needed today to make $ 100,000 in 5 years with a simple interest rate of 8% per…

A: Given data÷ A=$100,000 t=5 years r=8% =0.08 per year

Q: A $5000 investment is made in a savings account that pays 10%/a compounded quarterly. How long will…

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Q: 11. An investor plans to invest $12,000 at 4.9% with continuous compounding. Calculate the number of…

A: Consider the given information.

Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 4%…

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Q: How many months will it take for a $4000 to grow into $5600 if money can earn 6% p.a. compounded…

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Q: the suarez family invests $10,000 at an annual rate of 4.9% compounded monthly. how much is in the…

A: Step 1: Step 2: Step 3: Step 4:

Q: To have $4400 in 4 years, how much do you need to invest now at 7.4% compounded semi- annually?

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Q: Determine the total value of the investment after 4 years if $3800 is invested at 7.9% compounded…

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Q: For her 2nd birthday claudias parents invested $9,000.00 in an 13 year certificate for her that pays…

A: Given  Principal = $9000.00 rate = 7% compounded every 2 months time = 13 year

Q: Sam deposits $400 at the end of every 6 months in an account that pays 7%, compounded semiannually.…

A: ANSWER :

Q: $3000 is invested for 19 years with an APR of 3.88% and monthly compounding, The account balance…

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Q: Find the length of time required for $1000 to grow to $15 000 if the money was invested at 9%/a…

A: given initial amount=$1000 given final amount=$15000 given rate=9% per year

Q: Mary invests $1500 in an account that earns an interest rate of 4% compounded continuously. Will she…

A: The objective of this question is to determine whether Mary will have enough money in her account…

Q: A community outreach program wants to set up a scholarship fund for students who demonstrate…

A: Formula for compound interest is,Intererst=invested amount1+interest ratenumber of times interest…

Q: Find the amount of money that accumulates when a one-time lump-sum investment of P = $50, 000 is…

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Q: Mary invests $3500 at 2.75% compounded continuously. How much money will be in the account after 6…

A: Given Principal amount p = $3500 Interest rate r = 2.75% = 0.0275 Time t = 6 years