Q4: Grandma Jones has $300,000 in a bank account, which pays her interest at 3.33%. What is the largest amount of money that she could take out now and still have $300,000 in 179 days ? _____

Q: If you made $600 after investing $12,000 in a bank CD for 4 years, what percent simple interest did…

A: Simple interest = Principal*interest rate*time period Interest rate = Simple…

Q: 10. Kristine has $5,000 in an account today that pays 3% interest rate. Two years from now she…

A: Note: As per the Bartleby guidelines, we can answer only the first question. Kindly post the…

Q: 12. Patrick and Ben are planning to borrow $34,500 for 150 days to buy some property. Bank A charges…

A: We need to use Ordinary Interest and Exact Interest formulas calculate interest Ordinary Interest =…

Q: If you made $500 after investing $1500 in a bank CD for 5nyears, what percent simple interest did…

A: Interest rate can be calculated by dividing amount earned with total amount of investment.

Q: You are comparing two banks. One bank is online and offers a savings account interest rate of 1.75%…

A: The annual percentage yield is the real rate of return that an investment earns over a period of…

Q: 4. How much should you deposit in an account so that you can withdraw $5300 every year for the next…

A: Given that, Annual Withdraw (A)=$5300 Duration (n)=18 years Rate of interest (i)=6% or 0.06   Amount…

Q: Max the mouse needs $10,000 in 5 years. How much should Max deposit today if the bank has a simple…

A: Simple interest is the type of interest that is calculated on the original amount invested and not…

Q: Peter has $33,550 in his savings account. If he withdraws $5,000 at the end of each year, he will…

A: Present Value (PV) of Savings Account = $33,550Annual Withdrawal (P) = $5,000Number of years (n) =…

Q: 1.1 Suppose you received R1000 from your grandparents on your 18th birthday, which was 17 years ago.…

A: Savings account earn compound interest. To calculate final account balance we can use the formula…

Q: Q3 : Starting on the day Anna was born, her mother has invested $40 at the beginning of every month…

A: A series of regular fixed periodic payments made at each interval is annuity. The broad…

Q: Zorbat Wellington deposited $3,489 fifteen years ago into a bank account that paid 9.34% compounded…

A: Compounding is a technique to find the equivalent value in future value term, taking time value of…

Q: Your grandfather put some money into an account for you on the day you were born. You are now 18…

A: It represents the expected amount or value of the current asset at a future date. It is estimated by…

Q: 1. In a bank account that pays interest 2% p.a, what should you deposit now to have a balance of…

A: Future value is the amount that existing assets are worth at a specific future date after they have…

Q: Alice wants to be a 'wise' money saver. She has P100,000 and is willing to put it in the bank. she…

A: Simple interest is interest without compounding that is there is no interest on interest and there…

Q: Your grandmother has been putting $2,000 into a savings account on every birthday since your first…

A: Future value of ordinary annuity is the total value of all accumulated annuity payments at a future…

Q: Michelle Payne deposited $24,000 in a savings account paying 6.25% simple interest. How long (in…

A: Formula: FV=PV×1+rt

Q: If you make yearly deposits of $1200 in a bank account, how much money will you have in your account…

A: Future value of annuity = P * [ (1+r)^n  - 1 ] /r  Where r = rate of interest i.e. 6% n = no. of…

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: 33. How much will my $7,000 be after 15 years in a bank with an interest rate of 10%? OA. P28,240.74…

A: Initial value (I) = P7,000 Interest rate (r) = 0.10 Period (n) = 15 Years   Value in 15 years = ?

Q: Suppose that a capital of £2700 earns £400 of interest in a bank account over 4 years. en that…

A: Simple interest rate is a way to calculate the interest on a loan or investment that doesn't take…

Q: You just turned 20 years old and want to retire when you turn 65. You plan to put $4,900 every year…

A: FV represents the total value or amount of an investment or account at a specific future point in…

Q: Your bank pays 4.1% interest annually. You have $2,700 invested in the bank. How long will it take…

A: Annual interest rate = 4.1%  Invested Bank = $2,700 = Present value The invested bank amount gets…

Q: How much would your investment be worth if you deposited $5,555.55 into a bank that paid simple…

A: Total Interestn need to be computed for 10 years period by computing the annual interest on amount…

Q: 40. Josh has a savings account at a bank that charges a $12 fee for every month that his balance…

A: Generally, banks have a limit defined for the minimum balance of the deposit to be maintained by the…