Suppose you'd like to save enough money to pay cash for your next car. The goal is to save an extra $21,000 over the next 3 years. What amount must be deposited quarterly into an account that earns 5.4% interest in order to reach your goal? Round your answer to the nearest cent, if necessary.

Q: Find the accumulated amount at the end of 11 months on a $2100 bank deposit paying simple interest…

A: Given, period=11 months Amount= $2100 interest at a rate of 9%/year. To find the accumulated amount…

Q: You borrow $950 from your brother and agree to pay back $1000 in 19 months. What simple interest…

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Q: Suppose a man borrowed $300 from a friend and agreed to pay him 20% annual simple interest when he…

A: so given a man borrowed $300 from a friend and agreed to pay him 20% annual simple interest when he…

Q: Suppose you see a car with an advertised price of $14,500 at $410.83 per month for 4 years. What is…

A: Given that :Suppose you see a car with an advertised price of $14,500 at $410.83 per month for 4…

Q: A bank deposit paying simple interest at the rate of 8%/year grew to $1200 in 10 months. Find the…

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Q: Suppose that you took out a loan at 12% interest for 200 days. If the amount of interest was…

A: You can calculate Interest on your loans and investments by using the following formula for…

Q: Suppose that you decide to buy a car for $24,635, including taxes and license fees. You saved $6000…

A: Simple interest formula for an amount P at an interest rate of r% for t years is given by the…

Q: You deposit $3000 in an account earning 8% interest compounded quarterly. How much will you have in…

A: P=Principle=$3000t=time=15 yearsr=interest rate=8%=0.08A=final amount=?n=number of times compounded…

Q: A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can the homeowner…

A: Given that  A homeowner planning a kitchen remodeling an afford $700 monthly payment. How much can…

Q: Find the simple interest (in dollars) due on a 31-day loan of $950 if the annual simple interest…

A: The provided information is as follows:The principal amount is .The total number of days is .The…

Q: Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%. You want to have…

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Q: Your electric bill is $128. You are charged 12% simple interest for late payments. How much do you…

A: Solution-: Given: Amount of  electric bill is $128. Rate of simple interest =12% . How much do you…

Q: You have an opportunity to purchase a bond that will pay out $734 in 14 months.  If you would like…

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Q: A farmer purchased 235 acres of land for $4,900/acre. He paid 25% down and obtained a loan for the…

A: Given:   First we will find the amount of loan the farmer has taken    Calculating the amount of…

Q: o create a college fund for your child. Suppose you find a fund that offers an APR of 6%. How much…

A: We are given: APR=6%=0.06A=Amount after time t=$89000n=Number of months in a year=12Y=Number of…