RESOLVE THIS PROBLEM IN DIGITAL FORMAT (NOT HANDWRITTEN) Solve the following problem step by step, include the formulas you use and the development please - A person participates in a batch and gets the eighteenth number (month). If within 18 months he will receive $ 30,000, what is the current value of his batch, at a rate of 1.75% per month.

Q: 5. A family deposited $8000 into an account six years ago. The account eamed simple interest at a…

A: It is given that, Principle amount is, P=$8000 Total interest earned is, B=$1200 Rate of interest is…

Q: You apply for a $3000 loan at 4.5% simple interest rate to be paid back in for 3 years. What is 4.5%…

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Q: Barry open a compound interest savings account and his initial deposit was $1,145. The account pays…

A: Barry open a compound interest savings account and his initial deposit was . The account pays…

Q: You have $15000 that you want to invest for 5 years. Of the two investment options below, which one…

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Q: balance of $11,660 at an APR of 16.99%You plan to pay $500 each month in an effort to clear the debt…

A: Solution:-The loan amount on the credit card i.e. PV =$11660APR =16.99% p.a. i.e. 16.99/12 =1.41583%…

Q: Start working with a savings account with a quarter in it and your boss doubles it each day for…

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Q: ew car. He knows he can invest money into an account which will earn 6.4% APP

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Q: e profit increases by 26% every 6 years.

A: Initial profit = $208 Increase rate after 6 years = 26%

Q: 2. Consider the following statement: "if A, B are two non-empty sets, each one having a minimum,…

A: Let, mA = min {x : x ∈ A}        mB = min {x : x ∈ B}   Now, let m = min{mA , mB} Then, m = mA if mA…

Q: How many months will it take an amount of $6,000 to earn $120.00 simple interest at an annual rate…

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Q: You inherited a house worth $650,000 today. If the value increases by 4% each year, what would the…

A: given: we inherited a house worth $650,000 today. If the value increases by 4% each year, we have to…

Q: You save 500 each month by depositing into an account earning 7% monthly. After 15 years you stop…

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Q: $450 is invested at a monthly rate of 1% and is compounded monthly. What is the value of the…

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Q: We invest $5500 in an account that pays simple interest of 3% each year. How much interest is earned…

A: Formula: The formula that represents the simple interest is: I=PRT100 I is the interest. P is the…

Q: A new laptop computer costs $15pp. The value of the computer decreases bye 22%each year. How much is…

A: P(t)=P0(1-r)t P0=Initial pricer=rate of decreaset=time

Q: Assume the price of oil increases at a rate of 3% per month. At the beginning of March, the price is…

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Q: 16. Nathan has $3500 for working all summer and trying to decide which back he should use for his…

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Q: I have $30,000 to put into an account. Explain which account would be better for me to choose.…

A: The principal amount is $30000. The details of accounts A, B are given. A: 2% interest, compounded…

Q: an artist painted a 1 foot square painting. Now she wants to create more paintings of different…

A: According to Bartleby guidelines we are supposed to answer only the first three subparts of a…

Q: A savings plan James begins a savings plan in which he deposits $100 at the beginning of each month…

A: We have to write the first five terms of the sequence {Bn}. We have to find a recurrence relation…

Q: Tom, a graduate student, is considering investing $500 now, when he is 23, or waiting until he is 40…

A: Principal Value=500$ Rate of Interest=5% Compounded Quarterly Time Period is : First from Age 23 to…

Q: Grace invests n$3000,at rate 7% seven percent per year compound interest. Calculate the total amount…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…