Jacob wants to accumulate at least $45,000 by depositing $1,300 at the end of each month into a fund that earns interest at 4.75% compounded monthly. a. How many deposits does he need to make in order to reach his goal? 0 Round to the next payment b. How long will it take Jacob to reach his goal? o year(s) o month(s) Express the answer in years and months, rounded to the next payment period

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

A: We have given,

Q: The principal P is borrowed at a simple interest rater for a period of time t. Find the loan's…

A: Given  the principal amount P=$6000Interest rate r =4.5%=4.5100=0.045Time t=4 months          t= 412…

Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your total return? Total Return =…

A: given deposit = $1000 total balance after 5 years = $1500

Q: A woman buys a house for a $210,000. She pays $20,000 down and takes out a mortgage at 5.1% for 20…

A:

Q: Andrew invested $213 for 15 months in a bank and received a maturity amount of $239.50. If he had…

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: accumulate enough money for a down payment on a house, a couple deposits $597 per month into an…

A: We will find out the required value.

Q: Mary deposits $9,000 in a bank account that guarantees a simple interest rate of 7.5% per year. How…

A:

Q: Fritz buys a car costing $10,500. He agrees to make payments at the end of each monthly period for 8…

A: P = 10500 r = 9.6% = 9.6/100 = 0.096 t = 8

Q: Kelly paid off his student loan in 3 years by making payments of $650 at the beginning of every…

A:

Q: You can afford monthly deposits of $120 into an account that pays 2.4% compounded monthly. How long…

A:

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: Calculate the amount of money you'll have at the end of the indicated time period, assuming that you…

A:

Q: You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay…

A: The monthly payment is calculated using the formula: Monthly Payment=Loan amount×i1-(1+i)-n. Here, i…

Q: ristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3% interest for 15…

A: Given that  Tristan bought a $225,000.00 house, paying 10% down, and financing the rest at 3%…

Q: Fritz Benjamin buys a car costing $21500. He agrees to make payments at the end of each monthly…

A:

Q: Corinne's goal is to have $20,000 to start a new cake decorating business when she retires in 14…

A:

Q: Fritz buys a car costing $8100. He agrees to make payments at the end of each monthly period for 6…

A: