nicholas heard that he could triple his money in 27 years if he invested it in his friend's telecommunications business. What nominal interest rate compounded quarterly does the business offer?

Q: James and Susan wish to have $10,000 available for their wedding in 4 years.How much money should…

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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: The first credit card Elisabeth receives charges 13.81% interest compounded monthly to its…

A: compounded interest =13.81% n=4 months A=2425.23 i=13.8112×100   =0.011508 it is known that  A=P1+in

Q: A company will need $25,000 in 8 years for a new addition. To meet this goal, the company deposits…

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Q: a wants to have $200,000 to buy a smaller retirement home in 20 years. If they can earn 4.5%…

A: To calculate the amount that Mika should deposit in his account now to have $200,000 in 20 years.…

Q: Marcus buys a $1250 certificate of deposit (CD) that earns 6.6% interest that compounds monthly. How…

A: See the handwritten solution

Q: Karen wishes to have $17,730 cash for a new car 5 years from now.  How much should be placed in an…

A: Given: Karen wants $17,730 after 5 years. The interest is compounded weekly with a rate of 6%. To…

Q: Tom deposits $25,000 in a savings deposit paying 5%, compounded monthly.  What amount would he have…

A: Given that ,principal amount that investedP=$25,000the rate of interest r=5%=5100=0.05time in…

Q: If an investmentof $1000 grew to $13500 in 9 years. what interest rate compounded annually.did this…

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Q: Emily would like to accumulate $205,000 for his retirement in 11 years. If he is promised a rate of…

A: Emily would like to accumulate $205,000 for his retirement in 11 years. He is promised a rate of…

Q: Hsu-Mei wants to save $3,000 for a down payment on a car. To the nearest dollar, how much will she…

A: Let  be the present value you need to invest in an account.

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: If you invest $600 into an account that compounds monthly and after 8 years the account has $900.…

A: From the given information, it is observed that P = $600, A = $900, t = 8. Note that, the formula to…

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: Ms. Whodunit needs $10 000 to go on her dream vacation in three years. How much does she need to…

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Q: Larry and Peggy are making decisions about their bank accounts. Larry wants to deposit $350 as a…

A: This question is based on Compound interest.

Q: Jake invests $4900 at an 8% interest rate compounded contínuously for 2 $5000 at a 7% interest rate…

A:

Q: Burwell Bank is offering to double your money! They say that if you invest with them at 8% interest…

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