Using the compound interest formula to calculate the answers for the following problems. Round to the nearest cent if needed. Ryan invests $8361 in a savings account with a fixed annual interest rate of 4.31% compounded 12 times per year. After 10 years, what will be the account balance? Calculate the total amount of $ after y years (A).

Q: $2100 is invested at a rate of 7% compounded monthly. What is the amount after 10 years?

A: In compound interest, total amount is given by A=P[1+(r/n)]nt

Q: You have decided that you would like to save $10,000 to build a house in the next 10 years. If you…

A: NOTE: Refresh your page if you can't see any equations. . here we have the future value is A=10000…

Q: Cindy plans to invest for 10 years at 1.5%, compounded annually. If she hopes to have $10,000 after…

A: Consider the following information: AmountA=$10,000Rate of interestr=1.5⁒n=1Time periodt=10 years…

Q: amount of $50,000 is borrowed for 13 years at 4.5% interest, compounded annually. If the loan is…

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Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: how much will a invesment of $500 be worth after 7 years if it earned a yearly rate of 7.2%…

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Q: You put $8,000 into an account that earns 4% interest compounded annually. How much money will be in…

A: We have to apply the compound interest formula for the given problem.

Q: If you want to have a million dollars 31 years from today, how much should you invest in your…

A: The formula for compound interest :   A = P(1+r/n )nt   Where A = Total amount , P = initial…

Q: You deposit $3200 in a bank with annual interest rate of 3.5% compounded annually. What would you…

A: The deposit is $3200, interest rate is 3.5% compounded annually. The balance amount be 5 years later…

Q: -- 6(- 2n – 10) + 4n = 5(n + 1)

A:

Q: $2000 is compounded annually at a rate of 10​% for 3 years.

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Q: A deposit of $2, 150 earns 6% interest compounded quarterly. How much money is in the bank after for…

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Q: You put $500 in an interest bearing account with an annual interest rate of 8% compounded quarterly.…

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Q: when Elizabeth was born her parents put $5,000 in a savings account compounded annually earning…

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Q: You deposited $5,000 in a bank t years ago. Your current account balance is $8,200, and the bank…

A: principal amount that invested (P) = $5000Let, t be time in yearsaccumulated amount (A) = $8200rate…

Q: An investment of $4,500 was deposited into an account that pays 7% annual interest. How much money…

A: Given query is to find the amount accumulated after 8 years.

Q: You wish to accumulate $100,000 through monthly payments of $400. If you can earn interest at an…

A: We can use the future value of annuity formula to know the period taken to accomplish goal of…