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: If you make an investment of $5,000 and the investment earns an annual interest rate of 4.9%, in how…

A: Topic = Algebra

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: How long will it take to save $20,000 by making deposits of $100 at the end of every month into an…

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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: How much money would be in an account if $ 700 $ 700 is deposited at 2.5 % 2.5 % interest compounded…

A: Given that, the deposited amount is P=$700, the rate is r=0.025, the interest is compounded weekly…

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: $20,000 is invested at an annual interest rate of 12%, compounded semi-annually. What is the balance…

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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: How much money should you deposit into a certificate of deposit that pays 6% a year compounded…

A: r=6%=0.06 ,  A=$80,000  &  t=18

Q: an

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

Q: A graphic artist receives $3,700 for a contracted job. The money is placed in a certificate of…

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Q: An investment has grown from $50,000 to $100,000 (which means it doubles ) in 5 years compounding…

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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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Q: What interest will be earned if $15,000.00 is invested for 7 years at 12% compounded semi-annual?…

A: If P is principal amount, r is interest rate semi annual, t is time  Then compound interest (C.I.) =…