If you put $2,000 into an interest bearing account, where interest is compounded quarterly (4 times a year) at 6%, how long will it take for your money to triple? Use A = P(1+ 5nt %3D Solve for t. t = [?] years Round your answer to the nearest tenth.

Q: Name the formula that you use to solve the following problem. How much money should be deposited…

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Q: If you leave $5400 in an account earning 4% interest, compounded daily, how much money will be in…

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Q: ou invest $1400 in an account compounded continuously at 2.25$ for 5 years. How much money do you…

A: Formula for finding the amount in compound interest - A = P1+R100t…

Q: Nelson invested 5000 in savings account . If the interest rate is 1.62% how much will be in the…

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

Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: How many years will it take for $7000 to grow into $12,450.20 at 8.4% compounded semiannually?

A: How many years will it take for $7000 to grow into $12,450.20 at 8.4% compounded semiannually?

Q: Find the amount of money an investment of $15,000 compounded continuously for 10 years at 6.25%…

A: Given: Principal = P = $15,000 Annual rate = R = 6.25% Time = 10 years   To find: Final Amount = A

Q: Suppose that $1,000 is invested at 5% interest compounded continuously. Use the formula A = Pert.…

A: It is given that $1,000 is invested at 5% interest compounded continuously. That is, P=1000,r=5%.…

Q: Name the formula that you use to solve the following problem. How much money should be deposited…

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Q: You would like to put some money into an account so that you will have $6000 in the account 8 years…

A: Consider the formula to find the present value : PV=FV1+rknk where FV is the future value, r is the…

Q: At the age of 32, to save for retirement, you decide to deposit $70 at the end of each month in an…

A: Formula Used-  A = P1 + rnnt - 1rn where A is the Future value P is the Deposit value at the end of…

Q: How many years will it take for $3000 to grow into $8052.79 at 8.4% compounded semiannually? Use the…

A: Let us consider the   FV = Future value of money  PV = Present value of money i = interest rate (in…

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

Q: Charlie invests $11000 into a savings account that grows at an interest rate of 4.5% per year.How…

A: Rate of interest for 1 week = (4.5%)/(Number of weeks) = (4.5%)/52

Q: Dolores wants to save $70 a month in an account which pays 6% interest compounded monthly. If they…

A: The future value F of an annuity of n payments of E dollars each, paid at the end of each investment…