typical pack-a-day smoker spends about $188 per  month on cigarettes. Suppose the smoker invests that amount  each month in a savings account at 4.8% interest compounded  monthly. What would the account be worth after 40 years?

Q: You want to invest $15150in an account and plan to leave it there for 6 years. There are three…

A: The annual growth factor for an account can be calculated using the formula:A=P(1+rn)ntWhere:- A is…

Q: How much money should be deposited today in an account that earns 5% compounded semiannually so that…

A: The formula to calculate amount to be deposited in the account is shown belowwhere A is the…

Q: How much should you deposit at the end of each month into an investment account that pays 8.5%…

A: Here, we need to find the amount we deposit at the end of each month into an investment account that…

Q: How much money should be deposited today in an account that earns 4% compounded semiannually so that…

A:

Q: Ex. 2: Bert makes deposits of $2000 semi-annually into an account that pays 4% interest, compounded…

A: Given problem:- Bert makes deposits of $2000 semi-annually into an account that pays 4% interest,…

Q: An investment of $10,000 compounded continuously for 30 years at 10% will be worth.

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Q: A person needs ​$17,500  immediately as a down payment on a new home. Suppose that she can borrow…

A: A person needs ​$17,500 immediately as a down payment on a new home. Suppose that she can borrow…

Q: n order to pay for college, the parents of a child invest $20,000 in a bond that pays 8% interest…

A: P = 20,000r = 8% = 0.08t = 18n = number of compounds in one year = 2

Q: What amount must be invested now to have $12,000 after 3 years if money is worth 6% compounded…

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Q: Suppose you deposit $1000 in an account that earns 6.2 % compounded monthly. a. How much money will…

A: To calculate the total amount compounded monthly, substitute 1000 for P, 6.2% for r, 12 for n and 5…

Q: Suppose that you have $2500 to invest at 4% compounded continuously.  The accumulated amount after…

A: Given investment amount $2500 and rate of interest r=4%=4100=0.04. Compounded continuously. The main…

Q: How much must be deposited in an account to have annual withdrawals of $ 1500 forever? Interest is…

A: To find - How much must be deposited in an account to have annual withdrawals of $ 1500 forever?…

Q: Finance. Suppose that $6,000 is invested at 5.2% annual interest rate, compounded monthly. How much…

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Q: An investment of P2,850 is made at the beginning of each month for 6 years and 7 months. How much…

A: Given that investment of P=2850 per month  for time T=6 years and 7 months= 79 months rate of…

Q: Suppose that you have children young, pay for their college expenses, and finally start saving for…

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Q: an

A: Given that : Accounting pay = 7% In-order to calculate the future value factor formula = (1 +…

Q: how much money should be invested now in order to have $18,000 in 4 years if the investment earns…

A: A=Final Amount=$18000 t=Number of time periods elapsed=4 years r=Interest Rate=5.4%=0.054 n=Number…

Q: You want to have a $50,000 college fund in 12

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