Suppose $60,000 is invested into an account where interest is compounded quarterly. After 30 years the balance is $299,037. What was the interest rate as a percent?

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 9% interest. How…

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Q: Suppose an amount ₱ 500.00 is invested for 2 years at 6% interest rate. How much is the earning of…

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Q: A child deposits his birthday money of $350 into an account that pays 5.6% interest compounded…

A: A child deposits his birthday money of $350, so the principal amount is $350    Rate = 5.6% interest…

Q: To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16 years.…

A: Given that, To save for retirement, Karla Harby put $325 each month into an ordinary annuity for 16…

Q: Find the amount of money in an account after 10 years if $1,300 is deposited at 8​% annual interest…

A: Principal p =$1300 deposited  Rate =8% annual compounded monthly Time = 10 years To calculate total…

Q: $10,000 is deposited into an account that pays 2.4% interest compounded quarterly. How much money is…

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Q: . Find the simple interest (I = Prt) of $10,000 invested for 6 years at an annual simple interest…

A: Definition: simple interest If an amount of money,  P , the principal, is invested for a period of…

Q: Suppose you want to have $300,000 for retirement in 20 years. Your account earns 10% interest. How…

A: The objective of this question is to find out how much money needs to be deposited each month in an…

Q: Find how much interest $25,000 earns in 4 years in a certificate of deposit paying 9.5% interest…

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Q: Suppose you want to have $500,000 for retirement in 30 years. Your account earns 6% interest. How…

A: Suppose you want to have $500,000 for retirement in 30 years.  Future ValueFV= $500000Time t=30…

Q: Find the principal invested if $495 interest was earned in 3 years at an interest rate of 6%.

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Q: A deposit of $2, 150 earns 6% interest compounded quarterly. How much money is in the bank after for…

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Q: Find the amount of money in an account after 4 years if $1800 is deposited at 5% annual interest…

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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.

Q: Snape made a deposit of $495 into an account that pays 3% interest compounded annually. How much…

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Q: Karen has $1000 from investing in an account that pays 3.2% interest compounded quarterly at the end…

A: We will use formula for compound interest.

Q: Assume a six-month CD purchased for $5000 pays simple interest at an annual rate of 9.5%. How much…

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Q: You put $4000 in a bank account earning 3% compounded monthly. To the nearest penny, how much is it…

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Q: Frank invests $ 4500 dollars into an account earning interest compounded quarterly. After 7 years…

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