Silvio invested $12,000 into an account that earned 4.5% APR compounded daily for 6 years. What was the account balance after 6 years? Do not round any decimals until the very end! Then, round to the nearest cent.

Q: Andy deposits $5000 into an account where intrerest is compounded biweekly. After five years, andy…

A: Compound interest:In compound interest, interest is added back to the principal sum so that interest…

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: Karl purchased a head, phone and charged it to his credit card. To discharge this debt, he must pay…

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Q: We put $2000 in a savings account getting 6% interest compounded daily for 5 years. how much…

A: We put $2000 in a savings account getting 6% interest compounded daily for 5 years. We have to find…

Q: Audrey deposited $12,000 into an account paying 5% interest compounded twice a year. How long will…

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Q: Frank invests $ 5500 dollars into an account earning interest compounded quarterly. After 7 years…

A: Solution

Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in…

A: Given data is : Loan P=$11500 Interest rate r=3.8%, compounded annually. Time t=3 years To find the…

Q: Berno deposits $30,000 into an account paying 3.25% annual interest, compounded quarterly. How much…

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Q: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

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Q: $5,000 is invested into an account that earns 3% annual interest, compounded monthly. How much is in…

A: Compound interest formula A=P1+rnnt Where A is accumulated amount, P is principal value, r is rate…

Q: If you want to earn 9% annual simple interest on an investment, how much should you pay for a note…

A: Given that  worth $28,700.00 in 5 months. 9% annual simple interest on an investment,

Q: Bertha invests $10,000 for 8 years which results in an account balance of $24,759.63. What was her…

A: Given Bertha invested $10,000 for 8 years which resulted in an account balance of $24,759.63.

Q: Johnson placed $15,000 into his credit union account paying 7% compounded semiannullay. How much…

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Q: Nancy deposited $950 into an account that pays 5.41% annual interest compounded annually. When she…

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Q: if $3500 earned simple interest of $153.13 in 7 months, what was the simple interest rate

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Q: s a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A: This is a basic question testing the application of compound interest. We just have to plug-in the…

Q: If you would like to make $1664 in 7 years, how much would you have to deposit in an account that…

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Q: find simple interest on $1250 for 10 months at 12%

A: To find simple interest on $1250 for 10 months at 12%

Q: Sarah deposited $3000 in an account paying 5.3% per annum compounded semi- annually.

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Q: You deposit $200 each month into an account earning 5% interest compounded monthly. How much will…

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Q: Juan invested $5,600 at 5.75% compounded quarterly for 7.5 years. How much will be in his account at…

A: See calculation below

Q: How much simple interest is earned on $9,000 deposited in a bank for 1 year at 4.8% annual interest?

A: Principal = $9000Rate = 4.8%Time = 1 yearFind the simple interest.