If you need to have at least $50,000 in 10 years, what is the smallest amount you need to deposit in an account paying 3% interest compounded continuously? O $37,047 O $37,038 O $37,053 O $37,050 O $37,044 O $37,041

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $599 per month…

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Q: Suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every…

A: It is given that, at age 25, you decide to save for retirement by depositing $95 at the end of every…

Q: You are given $2000 and told to invest in one of the following accounts. Which account will give you…

A: Formula of compounded investment: A=P1+rnnt where A= Ending Amount P=Principal Amount r=Interest…

Q: How much compound interest will Sue earn by investing $20,000 at 4.1% p.a. over a four year period,…

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Q: if jake deposit $5000 at the end of the year for 15 years in an account paying 6% interest…

A: Given: The principal amount is $5000, the time period is 15 years, rate of interest is 6% to find…

Q: n order to pay for college, the parents of a child invest $20,000 in a bond that pays 8% interest…

A: P = 20,000r = 8% = 0.08t = 18n = number of compounds in one year = 2

Q: Suppose you deposit $5,051.25 into two different bank accounts. Account A earns an annual simple…

A: We can find the answers as below.

Q: How much would you have to pay into an account at the beginning of every 3 months to accumulate…

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Q: Phillip invested $11,500 into a fund earning 6.50% compounded monthly. He plans to withdraw $750…

A: Given : Principal(P)=$11,500 rate of interest(r) compounded monthly=6.50%=0.065 t=3 years The…

Q: How long will it take $11,000 to grow to $16,500 at a simple annual interest rate of 5%?

A: Initial amount (P) = $11000Final amount (A) = $16500Interest rate (r) =5%=0.05

Q: Parents wish to have $140,000 available for a​ child's education. If the child is now 3 years​ old,…

A: Step 1:We have to calculate the amount that should be set aside. It means we have to calculate the…

Q: Khalfan provides a donation of $4629 to a college with provision that a scholarship is paid at the…

A: 657.32  will be the annual scolarship

Q: If $2,000 is invested at 7% compounded monthly, what is the balance after 8 years? $3,601.84…

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Q: Use the present value formula to determine the amount to be invested now, or the present value…

A: Given that, The desired accumulated amount =$85,000 compound semiannually interest rate=8% Number of…

Q: A savings account is opened with a $3,000 deposit. If the account earns 6.5% interest, compounded…

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Q: What interest will be earned if $4,800 is invested for 7 years at an annual rate of 12% compounded…

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Q: A college wants to provide students with a perpetual scholarship of $3,000 at the end of every…

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