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: Melanie invests $13,000 at 13% simple interest for 1 year. How much is in the account at the end of…

A: Substitute 13000 for P, 13% for r and 1 year for t in the simple interest formula I=Prt and…

Q: A principal of P86, 000 will amount to how much when invested 2 years and 6 months at 11.25%…

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: A fireman invests $40,000 in a retirement account for 2 years. The interest rate is 6%, compounded…

A:

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: Sarah invests $4848 in a savings account with an annual interest rate of 5% compounded 2 times per…

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

A:

Q: deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in the…

A: Given that; Principal {p} = $ 4000 Rate (r) = 2%  Time = 10 years By using the compound interest…

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: 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: Jason invests $6000 in a savings account. The savings account pays compound interest at a rate of…

A: Let's find.

Q: sam deposits 150 in a savings account and earns 6% compounded monthly will she have enough savings…

A: Follow the steps.

Q: Nazir saved $900 to buy a plasma TV. He borrowed the rest at an interest rate of 18%/a compounded…

A: Compound interest is a type of interest where the principal amount changes every time when the…

Q: Reynaldo deposits 20,000 in a bank at an interesta rate of 6% If it’s compounded annually, how…

A:

Q: Jasica Parker would like to have ​$69,000 to buy a new car in 4 years. To accumulate $69,000 in…

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

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

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

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

A: ANSWER :

Q: A youth sports league receives a ​$30,000 donation for building a new snack bar and office building.…

A: A=P1+rnntFor quarterly, n=4

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

A: