Suppose you save a penny the first day of the month, 2 cents the second day, 4 cents the third day, and continued to double your savings each day. Answer the following questions. 1. How much will you save on the 20th day of the month? Answer (in dollars): 2. How much will your total savings be for 20 days? Answer (in dollars

Q: What sum of money earns $312 simple interest if invested for 8 years at 13%?

A:

Q: Due to depreciation, the cost of a car decreases by 10.2% every year. How much is the estimated…

A: The solution is given below.

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

A:

Q: How long will take for a deposit of $1400 to earn total interest of $300 if the bank is offering an…

A: Simple Interest Formula : I = PTR where I = simple interest earned P = initial investment T = time…

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: If a 31-day salary is 3,500, how much is it for 4 days?

A:

Q: You borrowed $120,000 for a house and will have to pay $1,090 a month for 15 years. True or False:…

A: We can say it true or false with reason as below.

Q: You start with $4 in your investment. Your money doubles every 6 years. How much money will your…

A: It is given that  $4 is the initial investment and the money doubles within 6 years. That is,…

Q: If you pay your friend 15$ each month for 20 months to repay a loan, what is the total cost of the…

A: Explanation of the answer is as follows

Q: You owe $2300 on a credit card with 21% APR if you pay $80 a month, how long will it take you to pay…

A: Formula for the loan amortization is  A=Pi(1+i)n(1+i)n-1 where A=periodic payment P=loan amount…

Q: Suppose you spent $800 on clothing in the past six months. Suppose you save this same 20% each year…

A: Given that, The total cost of clothing is $800. Now, saving 20% of $800 in a year is, 20100×800=$160

Q: The tuition at a certain college was ​$20, 181 last year and increased 5.3​% from last year to the…

A: Given: -

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: Homer invested ₱7000. How long will it take for his investment to double at the rate of 8%? 15 years…

A:

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: Suppose your balance (debt) on your credit card is $2000. You spend $150 in a month using your…

A:

Q: Nicholas Thomas deposits $38,000 in his school credit union for 7 months if the credit union pays 3…

A:

Q: you pay $33.16 per month for 2 years, how much is the total cost  of  your cellphone?

A: