Jen has Php100,000 in the bank. She intends to increase her savings to Php500,000. If she can deposit Php8,000 at the end of every month and the bank pays 3% compounded monthly, when will she be able to save the said amount? years

Q: John has invested $1200 into an account at 2% interest semiannually, what will his future valu be…

A: topic - compound interest

Q: An account with an initial balance of 1500 earns 7% interest for 1.5 years. What is the ending…

A: Given:   Initial Amount P = 1500   Interest rate r = 7%   Time = 1.5 years   Find ending balance A…

Q: Rajeev has $175 that he earned from his summer job. He puts the money in an account that yields 4%…

A:

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: Jamie plan to make payments of $9000 into a account on the last day of this and every year until his…

A: Consider the given information.

Q: what is the 2%interest rate over 5 years

A: here given    carlos has 3000 to open a bank account p =3000 R =2% N = 5 years  I =PRN100

Q: You have $300,000 saved for retirement. Your account earns 8% interest. How much will you be able to…

A: It is given that,      r= annual interest rate=8%=0.08      k=monthly compounding=12      N=number…

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: 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: After retiring, Delaney wants to be able to withdraw $4,000.00 every month from her account for 25…

A: We will find out the required value .

Q: Maura received $1000 from friends and family for college graduation. If she deposits her money into…

A:

Q: Huck borrows $3500 from his parents and has agreed to pay back the loan in 2 years. How much money…

A: Explanation of the answer is as follows

Q: Alexa and Erik plan to send their son to university. To pay for this they will contribute 9 equal…

A:

Q: You invest $10,000 in the Big Delta mutual fund. Over 5 years, your investment grows in value to…

A: According to the given data Initial investment is $10000 After 5 years it becomes $17320 That means…

Q: Johnson placed $15,000 into his credit union account paying 7% compounded semiannullay. How much…

A:

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

A: Solution