Mary invests $1500 in an account that earns an interest rate of 4% compounded continuously. Will she have enough money in 4 years to put a $2000 down payment on a new car? If not, how much will be in her account after 4 years?

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

A:

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

A: Given P=6000 n=5 m=4 r=0.078

Q: nicholas heard that he could triple his money in 27 years if he invested it in his friend's…

A: We can follow the step by step approach used in step 2 to get the required answer

Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

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: The future dollars of an investment at the end of 8 years is $ 132,000. Its today’s dollars is $…

A: INTEREST PAID BY BANK AT THE END OF 8YEAR=$132000-$76825=$55175 REAL RSTE OF INTEREST OF…

Q: A sum of $25,000 is deposited into an account paying 5.4% interest per year, compound daily. What…

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Q: If you need $8000 to travel to Europe after you graduate in 4 years.  How much would your monthly…

A: The compound interest formula is,

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: Nicole wants to save $4000 for a backpacking trip through Europe when she finishes college in 3…

A: Consider the given information.

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

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

A:

Q: We put $500 in an account earning interest compounded continously. What interest rate do we need if…

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Q: When Jack started his job working for an idustrial manufacturing company, he contributed $680 at the…

A: According to the given information it is required to find how much money Jack would have at the end…

Q: Karl buys a $2500 investment certificate that pays 3.75% simple interest per year. How much more…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Bo won $10,000 on a scratch-off lottery ticket. In five years, he wants to buy a new bass boat that…

A:

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: Marcos's savings account has a balance of $ 4,643. After 25 years, how much will your profit be at…

A: Compound interest formula:  , where A is amount after t year, P is initial amount, t is number of…

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

A: ANSWER :

Q: Lori deposited $4,500 into a 30-year retirement account that earns 3% annual interest, compounded…

A:

Q: Amy, who is 25, deposits $400 every 3 months into an account that earns 3.66 compounded quarterly.…

A: