What is the nominal annual rate of interest compounded quarterly at which $1502.00 will accumulate to $1861.42 four years and nine months? The nominal annual rate of interest is (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

Q: $7400 is invested for 5 years at 12% compounded quarterly. To the nearest cent, find the following:…

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Q: ind Principal when Time 4 years, Interest = $ 400; Rate = 5% p.a. answer (Should be in 4 significant…

A: Solution:  given time T=4 year , interest I=$400  rate R=5%  to find principal  value=?

Q: If you borrow $4500 at 3.5% interest compounded continuously, and make no payments toward the loan,…

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Q: For 8 years, $33 is deposited each week into an account that earns 2.1% interest, compounded weekly…

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Q: Determine the interest earned after 10 years if $200 is invested in each of the following accounts:…

A: Given data: The principle (P) is $200 The time(T) is 10 years Rate of interest (R) is 6%   The…

Q: A bank account uses simple interest. If 10,000 is deposited at a rate of 4% interest, how much money…

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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…

A: Compound interest formula:    I = Prt        Where           I =Interest           P = Principal…

Q: Find the present value of $10,000 in 9 months at 9.2% interest Give your answer to the nearest…

A: Given that The  total amount A=$ 10000Interest rate r=9.2%=9.2100=0.092Time t=9 months =912=34=0.75…

Q: The desired accumulated amount is $60,000after 11 years invested in an account with 2.3% interest…

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Q: If Php 25,000 is invested at an annual interest rate of 12% compound a. annually b. quarterly c.…

A: Given : Investment amount = Php 25000Rate = 12% and time = 2 years

Q: Find the interest rate required for an investment of$5000 to grow to $7500 in 5 years if interest is…

A: Given the principle of investment (P) =$5000 , amount after 5 years (A)=$7500 and time duration…

Q: You deposit $440 each quarter into an account earning 5.6% interest compounded quarterly.  a) how…

A: Given that, You deposit $440 each quarter into an account earning 5.6% interest compounded…

Q: You deposit $500 each month Into an account earning 5% Interest compounded monthly. a) How much will…

A: a) Obtain the amount in the account after 30 years as follows. Use the formula below.…

Q: Jan Reus sold her home and has $18,000 to invest. She believes she can earn 8% compounded quarterly.…

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Q: What is the interest due if $500 is borrowed for 6 months at asimple interest rate of 6% per annum?

A: Given:     Principal (P) = $500     Interest rate (r) = 6 %     Time (t) = 6 month =612 year Simple…

Q: An account invested in a money market fund grew from $24,811.63 to $25,111.51 in a month. What was…

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Q: You deposit $370 each month into an account earning 7.2% interest compounded monthly. a) How much…

A: (a) Let r be the interest rate and P be the amount deposited at each month So initially the account…

Q: You deposit $400 each month into an account earning 7% interest compounded monthly. a) How much will…

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Q: You deposit $200 each month into an account earning 4% interest compounded monthly. a) How much will…

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Q: You deposit $300 each month into an account earning 4% interest compounded monthly. Round to the…

A: a) P=$300 r=0.04 n=12 t=20 So,

Q: What is the interest rate being charged to Mr. Ramirez who applies a loan amounting to Php 170,476…

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Q: Find the amount accumulated in an account where $85 is deposited monthly for 10 years at 2.5%…

A: To calculate the amount accumulated in the account, we can use the formula for compound interest:A =…