There is much folklore regarding the purchase of an island in 1626 from a Native American tribe.​ Let's assume that the purchase price was ​$24. If that amount were placed in an account paying 4​% annual interest and allowed to compound annually until 2021​, how much would be in the​ account?

Q: 1-year after a car is sold an owner finds it is worth 60% of the original price. If it is now worth…

A: 1-year after a car is sold an owner finds it is worth 60% of the original price. If it is now worth…

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: On September 12, Jody Hansen went to Sunshine Bank to borrow $2,300 at 9% A.P.R.  Jody plans to…

A: Consider the equation

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Q: If you paid $56 to a loan company for the use of $1, 401 for 118 days, what annual rate of interest…

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Q: esiree opens an account with one deposit of $6500. She receives a statement twice a year, just after…

A: Given problem is :   Desiree opens an account with one deposit of $6500. She receives a statement…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the home were…

A: We will find out the required value.

Q: savings account pays simple interest at 6% annually. If the account starts with $5000, how much will…

A:

Q: Based on the value of the​ guitar, the pawnbroker loans you $960 One month​ later, you get the…

A: Effective Annual Interest Rate CalculationFormula:Effective Annual Interest Rate (EAR) = (1 + (i /…

Q: At age 18, someone sets up an IRA (individual retirement account) with an APR of 8%. At the end of…

A: Deposit at the end of each month

Q: QUESTION 1 Christine wishes to purchase yarn for a new knitting project The yarn she'd like to buy…

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Q: In one particular month, a person has a balance of $ 3,490 on their credit card for 9 days. They…

A: From the provided information, the amount of balance on the credit card is given as:Amount of…

Q: An investor deposits 3,500 into an account paying 8% compunded semiannually. Two years later she…

A: Here we find compound money upto 7 year.

Q: If you put $500 in a bank for 5 years and earn $75 in interest, the interest rate is 4%. O True O…

A:

Q: How much interest (to the nearest dollar) would be saved on the following loan if the condominium…

A: Loan amount = 264,000 x (70%) = 184,800 Let's assume the monthly payments (EMIs) are made to pay…

Q: Ou deposit $200 each month into an account earning 6% interest compounded monthly. How much will you…

A: Answer Payment [PMT] = $200Rate of interest [r] = 6% = 0.06Compounding period = monthly = n = 12Time…

Q: You are in the market to buy a home.  You plan on borrowing $361,683 from the bank.  Interest rates…

A:

Q: A man deposits $18,000 at the beginning of each year for 8 years in an account paying 6% compounded…

A: Compound interest is a type of interest that is calculated not only on the initial principal amount,…

Q: QUESTION 6 Katie owns a home valued at $129,900 in Syracuse, NY In 2017. Katie paid $2,254 in school…

A: