Peter invested her savings in a bank at 4.75% compounded quarterly. How much money did she invest to enable withdrawals of $3,000 at the beginning of every 6 months from the investment for 5 years, if the first withdrawal is to be made in 11 years?

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: A couple invests $1000 in a trust fund each year on their childs birthday. They started the fund on…

A: Given: A couple invests $1000 in a trust fund each year on their Childs birthdayp0. The fund pays…

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: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: Pesse Jinkman, a chemistry student at PCC, will be depositing $15,000 at the end of every quarter…

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Q: Rosa Burnett needs $7,000 in three years to make the down payment on a new car. How much must she…

A: Given information Future value=$7,000 Rate of interest r=0.5% compounded annually ⇒r=0.5100=0.005…

Q: Suppose you invest $190 at the end of each month for 6 years into an account earning 6% annual…

A: Given:Principal (P)=$190rate (r)=6%/100=0.06/12months=0.005n=6 years x 12= 72Formula:FV=P*(1+r)n-1…

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: Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If…

A: The amount he invested for new car is:  P = $18,000 Interest rate:  r = 4.9% Interest is compounded…

Q: For her 2nd birthday claudias parents invested $9,000.00 in an 13 year certificate for her that pays…

A: Given  Principal = $9000.00 rate = 7% compounded every 2 months time = 13 year

Q: Jodie deposited $10,000 into an account paying 6.5% interest, compounded quarterly.  She needs to…

A: Let's say it will take t years to make the down payment

Q: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

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

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