Suppose money is deposited in a certain bank doubles every 10 years, if the bank compoinds interest continuously, what annual interest rate does the bank offer? A. 6.93% B. 7.18% C. 20% D. 14.25%

Q: Lori gets an offer from another bank that is also paying 6% on CD’s, but is compounding interest…

A: Lori gets an offer from another bank that is also paying 6% on CD’s, but is compounding interest…

Q: Midsize cars depreciate (lose value) at a rate of 8.5% per year. a.If someone paid $14,100 for a…

A: Let us denote x=time , y=value Given that, initial amount= $14100, decay rate= 1 - 0.085=0.915 So…

Q: What will the value of an account (to the nearest cent) be after 8 years if $100 is invested at 6.0%…

A: Value of the account=P1+rnnt, where P=invested principal, r=Rate of interest,n=number of compounding…

Q: ces Complete the following without using Table12.1. Note: Round the "Total amount" and "Total…

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Q: your parents deposited $15,000 into an account when you were born to help pay for college. The bank…

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Q: Which of the following is the balance for a single $2,484 deposit in an account with an APR of 1.88%…

A: Given initial amount $2,484. Interest rate r=1.88% time t=37 years.

Q: What principle should be invested not to ear 100$ simple interest in 5 years at an annual rate of…

A: Simple Interest I=$100Number of years N=5Rate of Interest R=2.5

Q: Find the semiannual withdrawals possible over 5.5 years from an account earning 5.25% compounded…

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Q: C.A $9,000 inheritance is invested in a bond fund that earns 6% compounded continuously. How long…

A: For continuous compounding, A=Pert Here, P = $9,000, r = 6% = 0.06 and A = 3P = $27,000

Q: A nominal discount rate convertible quarterly is 14%. What is the difference between δ (the…

A: Given Information:Nominal discount rate convertible quarterly  is 14%To find:The difference between…

Q: John Lee's savings account has a balance of $2685. After 6 months, what will the amount of interest…

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Q: Question 6 < A payday loan company charges a $30 fee for a $500 payday loan that will be repaid in…

A: The total loan amount P=$500 The charge amount for the 13 days is  c=$30

Q: QUESTION 28 Duckburg is building a new museum and issues bonds to raise the money to build it.…

A: Given that  Scrooge McDuck obtains a $2500 bond that pays 5% interest annually that mature in 2…

Q: QUESTION 25 Calculate the amount of interest you'll have at the end of the indicated period. You…

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Q: Question 3 St. Francis Xavier College wants to provide an annual scholarship worth $4000. The…

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Q: If $ 9.3 is invested in a bank for 1192 days, and simple interest of 4.7 per cent per annum is…

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Q: The annual interest rate of Jackie's savings account is 6,4%, and simple interest is calculated…

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Q: Bianca had a $2,200 simple interest CD that paid her $122.76 when it matured after 3 years.  What…

A: Given that :-Simple interest =  $122.76 Principal (initial value) =  $2,200 Time =3 years

Q: How much of that monthly payment will go toward the principal? Hint: Principal = Monthly Payment -…

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