(ii) What would be the annual interest rate needed to triple over ten years an initial $5000 investment compounded quarterly. (Express your answer accurate to the nearest percent.)

Q: find the amount that should be invested now at 8% compounded. quarterly to obtain $25,000 in 6 years

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Q: Find the amount that results from investing $1200 at 4% compounded daily for a period of 3.5 years.…

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Q: You want to buy a new car. You can afford payments of $475 per month and can borrow the money at an…

A: Given information Payment=$475 per month Interest rate r=6.7% Since, interest id compounded monthly…

Q: At what interest rate (compounded weekly) should you invest if you would like to grow $3,830.77 to…

A: To determine the interest rate compounded weekly we should invest if we would like to grow $3,830.77…

Q: Gallant invests starting at age 25 until he retires at age 65. If he invests $2400 each yearat 9.6%…

A: J

Q: A company plans to purchase a large piece of machinery with $2401 semi-annual payments for 23…

A: Given:- Semi-annual payment of machinery =$2401             semi-annual payments for time =23 months…

Q: In 17 years, Brockton is to receive $120,000 under the terms of a trust established by his…

A: Continuously Compound:  The formula for the compounded continuously is given by…

Q: Find the interest rate needed for an investment of $3,000 to double in 6 years if interest is…

A:

Q: If an investment grew to $15,500 in 3 years and the interest amount earned was $1,752.71, calculate…

A:

Q: Calculate the time needed on an investment of $800,000 to gain an interest of $28,800 if the…

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Q: A sum of money invested now at 10 percent compounded quarterly is to provide payments of $ 1000…

A: Given: Present value every 3 months = $ 1000 present value in a year = 1000 x 4 = $ 4000 Time = t=…

Q: You want to buy a $19,000 car. The company is offering a 2.5% annual interest rate, compounded…

A:

Q: A new engineer wants to save money for a down payment on a house. The initial deposit is $685, and…

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Q: A major shipping company is planning to purchase new cargo ships. It wants to borrow $1100 million…

A: Here we use compound interest formula to find the interest that company have to pay quarterly.   So,…

Q: How long will it take for a $3,482.00 loan to double in value at a 7.5% compounded monthly interest…

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Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…

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Q: Find the compound interest on an investment of $18,000 at 8% compounded quarterly for 15 months.

A: In the given problem the investment is $18,000 , the rate of interest is 8%, the investment…

Q: Find the interest rate needed for an investment of $5,000 to triple in 13 years if interest is…

A:

Q: If you want an account balance of $15,000 after 10 years, what amount do you need to invest…

A: Let, the investment needed is $P. Rate of interest = 6% p.a (compounded monthly)  Then, lumpsum…

Q: Harry is 30 years old and plans to retire at age 70 years with $1,200,000 in his retirement account.…

A: We have given A=$1,200,000  ,r=2.75% t=70-30=40 years compounded quartly (n)=4we know the formula…