John got a part time weekend job at a local restaurant to save for a new car. He plans on depositing $ 120 per month for the next 4 years in a savings account with a rate of 4% per year compounded monthly. How much will he have saved toward his down payment at the end of the 4 year period?

Q: Audrey deposited $12,000 into an account paying 5% interest compounded twice a year. How long will…

A:

Q: Kunio puts $3,300.00 into savings bonds that pay a simple interest rate of 2.5%. How much money will…

A: Simple interest algebra

Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to make…

A: Given: Megan has $50,000 in her college fund that earns 6.4% compounded quarterly. She would like to…

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: Suppose that you borrow $17,000 for four years at 6 ​%  toward the purchase of a car. Use PMT equals…

A:

Q: Alan borrowed $30,000 from Janet due in five years at 10% monthly. Two years after the debt is…

A: Present value = future value/(1+r/m)^(m*n) Given  Future value =$30000 r=10%  n=5 years m=12

Q: Nicholas Thomas deposits $38,000 in his school credit union for 7 months if the credit union pays 3…

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: Carlos deposits $600 into an account that pays simple interest at a rate of 2% per year. How much…

A:

Q: Suppose that you borrow $13,000 for four years at 6% toward the purchase of a car. Find the monthly…

A:

Q: present value of the loan

A:

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

A:

Q: Jose received $450 for his birthday from his family.  He wishes to buy a motorcycle and decides to…

A: To describe the required sets in the three set theory problems

Q: arge and Tom Martin bought a new car for $126,500. They agreed to pay 25% down and make onthly…

A: Given Borrowed amount=126500*(1-0.25)=94875

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

A: ANSWER :

Q: Find the principal invested if $495 interest was earned in 3 years at an interest rate of 6%.

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Q: Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2…

A:

Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: Lydia's aunt Rose left her P5,000. Lydia spent P1,000 on her wardrobe and deposited the rest in an…

A: Given that : r = 6.9% n = 5 years P = 5000-1000 = 4000 Formula : A = P(1 + r/n)nt

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A: Given:  you borrow $10,000 for four years at 8% toward the purchase of a car To determine; The…

Q: Rikki Blair borrowed $6000 from her daughter Lynette. She repaid the $6000 at the end of 2 years. If…

A: We wiil use formula for compound interest .