Justin wants to buy a bond that will mature to $6000 in eight years. How much should he pay for the bond now if it earns interest at a rate of 2.5% per year, compounded continuously? Do not round any intermediate computations, and round your answer to the nearest cent.

Q: Find the investment needed today to make $ 100,000 in 5 years with a simple interest rate of 8% per…

A: Given data÷ A=$100,000 t=5 years r=8% =0.08 per year

Q: I have $1,000 in an account which pays 5.45% annually compounded interest. Assuming this interest…

A: Given, Principal amount, P= $1,000 Interest rate, r = 5.45% = 0.0545 Future Amount, A= $2,000…

Q: A $5000 investment is made in a savings account that pays 10%/a compounded quarterly. How long will…

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Q: To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16 years.…

A: Given that, To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16…

Q: Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If…

A: The amount he invested for new car is:  P = $18,000 Interest rate:  r = 4.9% Interest is compounded…

Q: Round to the nearest cent. Larry wants to start an IRA that will have $620,000 in it when he…

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Q: To save for retirement, Karla Harby put $475 each month into an ordinary annuity for 18 years.…

A: Amount karla put before interest (P) = 475 Tenure (t) = 18 years = 18 *12 Intrest will be compounded…

Q: Francis invests $4000 in a savings account earning 3.25%/year compounded weekly for 5 years. How…

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Q: A gift of $9000 to a city grew to $10,000,000 in 200 years. At what interest rate compounded…

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Q: Ann wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.8%…

A: *Answer:  How much money will she need to pay into the annuity each quarter to have a total value of…

Q: venture promises a 7% annual interest rate compounded once a year. For how many years should Roger…

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Q: A payment of $1500 is due in three months. Find the equivalent value at nine months if the interest…

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Q: Skylar is going to invest in an account paying an interest rate of 3.5% compounded daily. How much…

A: Page 0Given, Skylar is going to invest in an= 3.5looN= 365.365x10account,0.035Interest rate = 3.5%r…

Q: Jim Ryan, an owner of a Burger King restaurant, assumes that his restaurant will need a new roof in…

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Q: A 55-year-old man deposits $50,000 to fund an annuity with an insurance company. The money will be…

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Q: Madison is going to invest in an account paying an interest rate of 5.1% compounded quarterly. How…

A: Let the amount invested in the account be P Final value of amount in the account(A) is $310 Number…

Q: Karen has $1000 from investing in an account that pays 3.2% interest compounded quarterly at the end…

A: We will use formula for compound interest.