= In order to accumulate enough money for a down payment on a house, a couple deposits $371 per month into an account paying 6% compounded monthly. If payments are made at the end of each period, how much money will be in the account in 3 years? What is the amount in the account after 3 years? (Round to the nearest cent as needed.)

Q: Mr. oniel borrows $750 for 4 months at 6% interest how much interest does he pay.

A: Given,            Mr. oniel borrows $750 for 4 months at 6% interest.To find : How much interest…

Q: Tuition of $1830 will be due when the spring term begins in 6 months. What amount should a student…

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Q: Mr. John borrows money from a friend with simple interest of 12%, find the present worth of $25,000…

A: If the interest is simple, then the formula used is A=P(1+rt), where A is the final amount, P is the…

Q: You know you will have $1,000,000 in your account when you retire. You want to be able to take…

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Q: In order to accumulate enough money for a down payment on a house, a couple deposits $459 per month…

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Q: Towed $3000 from his brother Dave. He agreed to repay the money at the end of 2 year the money had…

A: In this question, the concept of compound interest is applied. Compound Interest Compound interest…

Q: The price of a condominium is $146,000. The bank requires a 5% down payment and one point at the…

A:

Q: Determine the interest earned if $87000 is invested at 1.7% simple interest for 47 months.

A: .

Q: Find the simple interest (in dollars) due on a 31-day loan of $950 if the annual simple interest…

A: The provided information is as follows:The principal amount is .The total number of days is .The…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

A:

Q: Suppose you want to have $700,000 for retirement in 25 years. Your account earns 9% interest. How…

A:

Q: If $600 is borrowed and the interest after 24 months is $120, what is the annual interest rate for a…

A: Solution

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 principal if $245 in interest is due after 10 months at 7%

A: By using formula of simple interest.

Q: if you borrow $1200 at an add on rate of 5% for 4 years how much is the monthly payment

A: Given that: Principle(P) is $1200, rate of interest(r) is 5% and time(t) is 4 years. The amount can…

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $351 per month…

A: The monthly deposit  PMT=$ 351 Interest rate r=3%=3100=0.03Compounded monthly m=12…

Q: Determine the interest earned if $5000 is invested at 4.3% simple interest for 9 years.

A: We have direct formula for simple interest.