Which of the following is the balance for a single $2700 deposit in an account with an APR of 4.5% that compounds interest monthly and is invested for 7 years? $3,797.52 $3,674.33 $3,550.50 $19,768.26

Q: Find the accumulated amount at the end of 11 months on a $2100 bank deposit paying simple interest…

A: Given, period=11 months Amount= $2100 interest at a rate of 9%/year. To find the accumulated amount…

Q: Find the interest rate for each deposit and compound amount. 6) $8000 accumulating to $12,384.48,…

A: Recall the following fact.

Q: $ 9000 loan is to be paid in 3 years at 3.6% compound interest per year, the accrued interest and…

A: =>Total amount of money to pay off the loan = Total payment at the end of first year +Total…

Q: Henry deposits $7500 in an account earning 2.75% interest compounded monthly. What is the balance in…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: A credit card has a compound interest rate of 22.5% per year on overdue balances. How much interest…

A: According to question given thatCredit card interest rate= 22.5% per yearBalance= $485.00

Q: Find the simple interest paid on a $470 loan at 6.9% annual interest for 3 months

A: Given:The principal amount (P) is $470.The rate of interest (R) is 6.9% per year.The number of terms…

Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: Find the apy for an account earning 4.3% compounded six times a year

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Q: 4. Maryam has $6800 in a daily-interest savings account. The account pays an annual interest rate of…

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Q: You put $500 into an account paying 2% compounded monthly. What size can you withdraw at the…

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Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

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Q: find the amount of compound interest earned  $8000 at 5.5% compunded monthly for 5 years

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Q: Calculate the amount of money you'll have at the end of the indicated time period, assuming that you…

A:

Q: Brad invests $8,500 in an account paying 4% compounded monthly. How much is in the account after 7…

A: Given that  Brad invests 8500 Rate of intrest 4%  Compounded Monthly

Q: Shannon finances her new car with a $9,900 auto loan. The loan has a 5-year term at a fixed annual…

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Q: 36,000 is invested at 5.5% compounded annually for 8 years. a. Find the final amount b. Find the…

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Q: Brad invests $3700 in an account paying 3% compounded monthly. How much is in the account after 8…

A: We know,         For principal amount P and rate of interest r% compounded per unit time, the amount…

Q: A local university received a $500,000.00 gift to establish an endowment fund for a student…

A: Answer:- value of the fund 56 years from now = 500,000 *[(1+0.02/2)^(2*8) ]=586289.322462…

Q: A well-known brokerage firm executive claimed that 10% of investors are currently confident of…

A: Test of Hypothesis : Null Hypothesis H0: μ≥0.1 Alternative Hypothesis H1: μ<0.1

Q: A savings account that has 850$ deposited on march 1st earns 0.4% annual interest compounded daily.…

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Q: Cathy makes a single deposit into an account earning 2.5% compounded monthly. After five years the…

A: used formula: A=P(1+r/n)nt   where P=initial amount or principal A=final value or final amount…