Money deposited in a fund triples every 8 years. If the bank compounds the interest continuously, what annual interest rate is the bank offering?

Q: Salim deposits OMR 1,200 at a rate of 8% for a period of 5 years. What is the amount he gets after 5…

A: Given that  Salim deposits OMR 1,200 at a rate of 8% for a period of 5 years To find the  What is…

Q: You have a credit card that has a balance of $12,000 at an APR of 18.99%. You plan to pay $600 each…

A: Solution:-The loan amount on the credit card i.e. PV =$12000APR =18.99% p.a. i.e. 18.99/12 =1.5825%…

Q: At age 30, Julio starts a retirement account. He deposits $145 at the end of each month in an…

A: The deposit monthly  $145  APR=3%=0.03 a) A=Pmt x 1+APRnnT-1APRn................equation 1 Here,…

Q: You put ​$200 per month in an investment plan that pays an APR of 4.5​%. How much money will you…

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Q: Using the simple interest​ formula, determine the number of months until $1527.00 will earn $91.62…

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Q: Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in…

A: Given data is : Loan P=$11500 Interest rate r=3.8%, compounded annually. Time t=3 years To find the…

Q: ​Annie's cafe borrows $9,400 at 5​% for 240 days. Find the total amount that must be repaid after…

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Q: Your parents buy a new computer for you at a cost of $2500. The computer depreciates (decreases) in…

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Q: A bank features a savings account that has an annual percentage rate of 5.4 % with interest…

A: P = $ 5500 APR = 0.054

Q: A person has ​$1,264 in your bank account that is paying an interest rate of 2.7​% ​(0.027​) per…

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Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: Calculate the simple interest rate when P=$3,600, I=$160 and t=4 months. Round to the nearest…

A: The simple interest, I is calculated using the formula: I=Prt, where P is the principal amount, r is…

Q: A population numbers 12 000 organisms initially and decreases by 4% each year. Suppose P represents…

A: As per the company guidelines we can solve first question. I hope that the given solution will help…

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

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Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

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