A sum of $1000 was invested for 4 years, and the interest was compounded semiannually. If this sum amounted to $1461.77 in the given time, what was the interest rate? (Round your answer to two decimal places.)

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: Suppose your one month balance (debt) on your credit card is $2000. If the monthly interest rate for…

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Q: For 8 years, $33 is deposited each week into an account that earns 2.1% interest, compounded weekly…

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Q: $25,000 is deposited into an account that pays 6.75% interest compounded continously. How long will…

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Q: Find the amount of money in an account after 10 years if $1,300 is deposited at 8​% annual interest…

A: Principal p =$1300 deposited  Rate =8% annual compounded monthly Time = 10 years To calculate total…

Q: $10,000 is deposited into an account that pays 2.4% interest compounded quarterly. How much money is…

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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: Your electric bill is $128. You are charged 12% simple interest for late payments. How much do you…

A: Solution-: Given: Amount of  electric bill is $128. Rate of simple interest =12% . How much do you…

Q: If you would like to make $1664 in 7 years, how much would you have to deposit in an account that…

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Q: An investment of $4,500 was deposited into an account that pays 7% annual interest. How much money…

A: Given query is to find the amount accumulated after 8 years.