What present value amounts to $20,000 if it is invested for 15 years at 7% compounded annually? (Round your answer to the nearest cent.)

Q: How much would you need to deposit in an account now in order to have $3000 in the account in 5…

A: From the provided information is  Present value=Amount*(1+rate)-period  PV=3000*(1+(0.066))-6*5…

Q: How much interest (in dollars) is earned in 7 years on $8,400 deposited in an account paying 8%…

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Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest…

A: The expression used to evaluate the amount in compound interest is as follows: Amount =P1+r100nnt,…

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: How much do we earn if we invest $1000 at 10% compounded annually for 10 years?  Round to the…

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Q: What interest will be earned if $6500 is invested for 8 years at 13% compounded monthly? (Round your…

A: The given principal value P = $6500 The given time t = 8 years = 12*8 = 96 months  Interest rate =…

Q: You have $2500  that you invest at 5.3% compounded quarterly. The total accumulated amount at the…

A: Simply use the the formula for the compound interest and substitute the values then simplify.

Q: If $6,000 is invested at 3% compounded monthly, what is the amount after 9 years? The amount after 9…

A: Invested amount P = $ 6,000               Interest rate  r = 3 %  = 3100 = 0.03…

Q: What interest will be earned if $6500 is invested for 2 years at 11% compounded monthly? (Round your…

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Q: If $4500 is deposited at the end of each quarter in an account that earns 7% compounded quarterly,…

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Q: How much would you need to deposit in an account now in order to have $6000 in the account in 15…

A: Given: N = 15 Years P15 = $6000 r = 5% = 0.05 k = 1 P0 = ? Formula Used: PN = P01+rkNk PN = Balance…