How much money should be invested in an account that earns 6% interest, compounded quarterly, in order to have $8,000 in 3 years? Round to the nearest cent. ​     $6,691.10     $6,685.16     $9,564.95     $6,779.66     $6,716.95

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: $10,000 is deposited in a money market account when interest is compounded every month at an annual…

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Q: The principal represents an amount of money deposited in a savings account subject to compound…

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Q: Mike deposits $5,000 in a 3-year CD account that yields 1.5% interest, compounded weekly. What is…

A: A=P1+rnnt

Q: You want to be able to withdraw $20,000 from your account each year for 20 years after you retire.…

A: Given: Withdrawable amount= $20,000 for 20 years. Expected retirement=3 years. interest rate 4%.…

Q: Henry deposits $7500 in an account earning 2.75% interest compounded monthly. What is the balance in…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: You deposit $5000 each year into an account earning 4.1% interest. How much will you have in the…

A: Please find the answer in next step.

Q: $5000 8% annually 4 years   A. Find how much money there will be in the account after the given…

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Q: How much would you need to deposit in an account now in order to have $3000 in the account in 15…

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Q: Find the present value of amount. $10,000 if interest is 6% compounded quarterly for 8 years

A: The formula for calculating compound interest when time period is specified in years and interest…

Q: You deposit $3000 in an account earning 8% interest compounded quarterly. How much will you have in…

A: P=Principle=$3000t=time=15 yearsr=interest rate=8%=0.08A=final amount=?n=number of times compounded…

Q: Find the simple interest on a $2000 investment made for 2 years at an interest rate of 9%/year. What…

A: Formula for finding Simple interest (S.I)  is S.I=prtwhere p= principal amount,            r=rate of…

Q: Find the amount of simple interest on a loan of $2,500 at 4.22% interest for 13.75 months. (Round to…

A: Interest=$2500*12.75 months*4.44%

Q: The principal represents an amount of money deposited in a savings account subject to compound…

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Q: You can afford monthly deposits of $120 into an account that pays 2.4% compounded monthly. How long…

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Q: What is the total interest earned, including compound interest, if you left $500 in a savings…

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Q: Find how much money needs to be deposited now into an account to obtain $3, 900 in 6 years if the…

A: The objective of this question is to find out the initial deposit (P) required to grow to a future…

Q: If you decide to deposit $96 per month into an account earning 4.8% annual interest compounded…

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Q: Find the total amount in Mr. G’s account, if he invests $9000 for 5 years at a 6% interest rate.  A.…

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Q: If you want to earn 15% annual simple interest on an investment, how much should you pay for a note…

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Q: 3. Maria borrows $12 000 at 9%/a interest compounded monthly for 10 years. How much money will she…

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