How long will it take P10,000 to accumulate to the amount of P11,000 at 12% compounded monthly? ______ ______

Q: Dave has saved $20,000 for a down payment on a home and plans to save another $5000 at the end of…

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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 what simple interest rate will be necessary for Sonny to get a 40% return on a $500 investment…

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Q: After obtaining your first job you decide to make contributions to your personal retirement plan.…

A: Given- After obtaining your first job you decide to make contributions to your personal retirement…

Q: You decide to make monthly payments into a retirement fund earning 4.75% compounded monthly.  Note:…

A: Given-  Monthly deposit, PMT = $240 Rate, r = 4.75% = 4.75100 = 0.0475 Amount, A = $338,000 Number…

Q: Rose has saved $160,000. If she decides to withdraw $2500 at the beginning of each month knowing the…

A: From the given, Amount (A) = $160,000 Principle amount (P) = $2500 Rate = 5% per annum Then R =0.052…

Q: You have a big account that has a 6% interest rate and is compounded semiannually. How much should…

A: The formula for compound interest is given by A=P1+rnnt where A is the Amount, P is the principle, r…

Q: A couple with a newborn baby needs a new vehicle. They take out a $29,000.00 car loan at 8.9%…

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Q: Kristy Joe deposits ​$110 each month in an ordinary annuity to save for a new car. If the annuity…

A: It is given that the Cash deposit per period is P = $110.Monthly interest rate is i = 1.03%. Time…

Q: Barbara knows that she will need to buy a new car in 3 years. The car will cost $15,000 by then. How…

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Q: Attucks College predicts that in 12 years it will take $⁢250,000 to attend the college for four…

A: Given Information A =$250000,  rate of interest = 11% = 0.11 n = 12 (Compounded monthly) t = 12…

Q: If you finance $15,000 for 3 years at 6% compounded monthly, the monthly payments will be…

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Q: ou decide to make monthly payments into a retirement fund earning 4.75% compounded monthly.  Note:…

A: Given  monthly deposit =$130 rate =4.75% compounded monthly amount =$353000 Formula  A=P1+rnnt-1rn

Q: You are trying to save up $100, 000 in 18 years to help pay for your kid’s future college expenses.…

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Q: You borrow Ksh 1.2million to buy a new car. The lender charges 5% p.a. compounded at the end of each…

A: Given: Principal amount P = 1,200,000 Interest i = 5% p.a Loan period n = 5 years

Q: 27. Joel needs to have $32,467 in 5 years so that he can purchase a used NASA Space Plane Prototype.…

A: Here we have,A=32467t=5 yearsr=3.2%=0.032n=12 for  monthly compound

Q: Susan Orman wants to pay $1,550 semiannually to her granddaughter for 10 years for helping her…

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Q: 3. A bank's two year GIC pays 5% interest compounded monthly. Maureen buys $4000 worth of the GICs.…

A: Here we have to find what maureen would have in 2 years.