What sum deposited today at 8​% compounded annually for 10 years will provide the same amount as ​$1500 deposited at the end of each year for 10 years at 7​% compounded​ annually? What sum would have to be deposited today at 8​% interest compounded​ annually? (round to nearest cent)

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $621 per month…

A: Given information Amount deposit per month P=$621 Rate of interestr=6% compounded monthly.…

Q: In order to accumulate enough money for a down payment on a house, a couple deposits $599 per month…

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Q: Kaye deposited $7.000 into a savings account today. For how long can $680 be withdrawn from the…

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Q: What lump sum do parents need to deposit in an account earning 14%, compound monthly, so that it…

A: Compound interest: Formula : A=P 1+rnnt, where A is the amount P is the principal or the invested…

Q: "Shelly deposits the $2,000 she got as a birthday gift from her grandmother into an account earning…

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Q: In order to accumulate enough money for a down payment on a house, a couple deposits $467 per month…

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Q: prder to accumulate enough money for a down payment on a house, a c ch money will be in the account…

A: Introduction: The formula of the annuity is given by, A=R·1+rnnt-1rn Where r is the interest rate, t…

Q: A person deposits $300 on the last day of each quarter into a savings account that pays 9​%…

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Q: How much interest will an account earn if you deposited $715 semi-annually for 11 years and the…

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Q: In order to accumulate enough money for a down payment on a house, a couple deposits $459 per month…

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Q: At the time of her grandson birthday a grandmother deposits 10000$ in an account that pays 2.5%…

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Q: What amount should be deposited today to buy for a P 216,000.00 house and lot in 6 years? The bank…

A: We need to find the amount that should be deposited today to buy for a P 216,000.00 house and lot in…

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: xander received a $22,950 loan from a bank that was charging interest at 4.25% compounded…

A: The loan amortization formula iswhere A is the period payment, P is the loan amount, i is the…

Q: What lump sum should be deposited in an account that will earn 5% compounded quarterly, to grow to…

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Q: A deposit of $15,000 is made in a trust fund that pays 3.5% interest, compounded semi-annually. It…

A: Given that, the amount invested is: P=$15,000. The rate of interest is: r=3.5100r=0.035 The time is:…

Q: A 43-year-old man puts $2000 in a retirement account at the end of each quarter until he reaches the…

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Q: A mechanic borrows $8500 to expand his garage. The interest rate is 16% compounded quarterly with…

A: We need to find payments.

Q: Find the future value of an annuity due of $2000 paid at the beginning of each 6-month period for 8…

A: The future value of the annuity is calculated using the formula: S=P1+in-1i1+i. Here, P is deposited…

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: A father puts Php550,000 in a savings account at a birth of his son, If the account pays 2.5%…

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Q: Supposed to deposit $100 every six months into an account that pays 6% compounded semiannually. If…

A: Annuity formula is as below: here,d=100N=3 yearsr=6 %=0.06k=2