Jerry deposited $20,000 on an investment that will give $1,550 for every year that his money stays in the account. How much money will he have in his account by the end of year 18?

Q: Twenty years after purchasing shares in a mutual fund for $5900, the shares are sold for 11,300. The…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: Suppose you save $5 each week. If you continue saving for 5 years, how much will you have saved

A: Since we know that  normally there are 52 weeks in a year. so in 5 years = 52*5…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: You bought $1,000 worth of stock. For the last 7 years you have been losing 3% a year. How much will…

A:

Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

A:

Q: You borrowed $120,000 for a house and will have to pay $1,090 a month for 15 years. True or False:…

A: We can say it true or false with reason as below.

Q: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

A: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

Q: How much money does Nora have for her car down-payment if she invests $750 at a monthly interest…

A:

Q: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

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Q: you can buy a car for $25200 or lease the same car for 3 years for a down payment of $1500 and…

A: Consider the given information.  The basic price of the car is $25200.    If you are taking a car on…

Q: Hector's second option for purchasing his $24,000 car is a loan with 4.5% interest over four years.…

A: Hector purchasing his car is a loan with  interest over four years.The aim is to find out how much…

Q: Joaquin pawns his favorite watch for a loan of​ $120. After 30​ days, he buys his watch back for​…

A: Given P = $120, A = $140 and T = 30.

Q: If you make $400 in simple interest on an investment at 8% for 5 years, what is the amount of the…

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Q: Suppose you save $5 each week. At the end of one year, how much money will you have saved?

A: Given : you save $5 each week Total week in one year =52

Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Q: You got an awesome job at Starbucks! You will work there FOREVER! You are promised $900 the first…

A:

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: We invest $4000 in an account that pays simple interest of 3% each year. How much interest is earned…

A: Let, P = initial  amount r = annual  interest  rate t = time ,then the simple  interest  formula…