If you invest $1,000 at 10% interest compounded every year. a)  How long will it be until your balance is $3,000 ? b) Find the tripling time when the interest rate is 5% ?

Q: You deposit $3000 in an account earning 2% interest compounded monthly. How much will you have in…

A: Since, there has been a deposit of $3000 in an account earning 2%interest compunded monthly. Our aim…

Q: At graduation, you have a student loan of $22,000. The loan has a fixed annual interest rate of…

A:

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: Ivanna wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.8%…

A: Given P=6000 n=5 m=4 r=0.078

Q: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: At graduation, you have a student loan of $20,000. The loan has a fixed annual interest rate of…

A: Now the monthly payments when the loan amount is P taken for n months at a rate of r% is…

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: ou can afford monthly deposits of $190 into an account that pays 4.2% compounded monthly. How long…

A: Given information -  Monthly deposits = $190 Rate of interest = 4.2% The interest is compounded…

Q: Melanie places $5,000 into an account that earns 6% interest compounded daily. Approximately six…

A:

Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest…

A: The expression used to evaluate the amount in compound interest is as follows: Amount =P1+r100nnt,…

Q: You put $8,000 into an account that earns 4% interest compounded annually. How much money will be in…

A: We have to apply the compound interest formula for the given problem.

Q: To save for graduate school, a student invests $1470 semiannually in an ordinary annuity with 3%…

A: To save for graduate school, a student invests $1470 semiannually in an ordinary annuity with 3%…

Q: A family decide to save some money in an account that pays 9% annual compound interest calculated at…

A:

Q: To save for retirement, a student invests $30 each month in an ordinary annuity with 3% interest…

A:

Q: How much money could you withdraw each quarter of a year for 4 years if you deposited $50,000 into…

A: To Find: How much money we could withdra each quarter if the account pays 4% interest compound…

Q: Find the final amount of money in an account if $6,500 is deposited at 3% interest compounded…

A:

Q: What interest would be charged on a loan of $3000 at 4% interest for 1 ½ years?

A: Given information,

Q: Find the final amount of money in an account if $6, 300 is deposited at 2 % interest compounded…

A: Compound interest formula for an initial amount P for t years compounded n times a year at an…

Q: Jeff has 5 years to save enough money to pay certain debt in full. During that time, he deposits…

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

Q: Sam begins saving for a down payment on a house using an investment account. The account earns…

A: Let's find.

Q: A loan of 18,000 is made at 4.5% interest, compound annually. After how many years will the amount…

A: Given, Principal = p = 18,000Rate of interest = r = 4.5%  compounded annually Amount = A  ≥24, 000…

Q: want to be able to withdraw $40,000 each year for 20 years. My account earns 4% interest compounded…

A: To determine the amount that needed to invest in the beginning in order to withdraw $40,000 each…