Riley invested $5,100 in an account paying an interest rate of 7-% compounded quarterly. Ryan invested $5,10o in an account paying an interest rate of 7 % compounded daily. After 7 years, how much more money would Riley have in her account than Ryan, to the nearest dollar?

Q: Benjamin Franklin invested $2 in 1776 into an account that has a 12% interest rate,in what year will…

A: It is simple interest problem

Q: Camilla has $18,220 in a savings account. The interest rate is 5% per year and is not compounded. To…

A:

Q: John got $5000  from his grandmother to pay her tuition fee.He invested this amount at a 10% rate of…

A:

Q: Jorge decides to invest $4600 in a savings account, one that compounds interest quarterly at a rate…

A: Given data: P=$ 4600 Time, t = 5 years Case 1) If interest is compounded quarterly. Rate of…

Q: Find the final amount of money in an account if $9,500 is deposited at 6% interest compounded weekly…

A:

Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

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

Q: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

A: Hugo opened a savings account and deposited $1,000.00. The account earns 5% interest, compounded…

Q: The future dollars of an investment at the end of 8 years is $ 132,000. Its today’s dollars is $…

A: INTEREST PAID BY BANK AT THE END OF 8YEAR=$132000-$76825=$55175 REAL RSTE OF INTEREST OF…

Q: A sum of $25,000 is deposited into an account paying 5.4% interest per year, compound daily. What…

A:

Q: Brendan needs $12 000 in 3 years for college. How much must he invest today at 8.9%, compounded

A:

Q: At a 5 % annual interest rate, a principal of $2,000 earns $ 400. How long was the principal…

A:

Q: Your interest rate on a $1,500 savings account is 4%. How much simple interest will the account earn…

A: Given information P=$1,500 r=4% ⇒r=4100=0.04 t=2 years We have to find the simple interest will the…

Q: Zach invested $200 per month in a mutual fund that averaged 9% net growth per year with interest…

A:

Q: A Tesla Model Xsells for $104,350; if the car depreciates or loses 17% of its value each year. How…

A: Given that the depreciation rate = 17% = 0.17  So the depreciation factor = 1 - 0.17 =0.83  So after…

Q: If you had the choice of 5% simple interest or 5% compound interest for a savings account, which one…

A:

Q: When Jack started his job working for an idustrial manufacturing company, he contributed $680 at the…

A: According to the given information it is required to find how much money Jack would have at the end…

Q: Karl buys a $2500 investment certificate that pays 3.75% simple interest per year. How much more…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Joann invested $28,800 at 13% to be compounded daily. What will be the value of Joann’s investment…

A: invested $28,800 at 13% to be compounded daily

Q: Bo won $10,000 on a scratch-off lottery ticket. In five years, he wants to buy a new bass boat that…

A:

Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Q: If $5000 dollars is invested at 8% simple interest, how long does it take for the investment to be…

A: Concept Used:(The simple interest) The simple interest formula is A=P(1+rt) where P=The principal,…

Q: Marcos's savings account has a balance of $ 4,643. After 25 years, how much will your profit be at…

A: Compound interest formula:  , where A is amount after t year, P is initial amount, t is number of…

Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: Gilly Bates invested $45000 in a 6% annual interest account.  How many years, to the nearest…

A: See the answer below