Year First Second Third Interest Melissa earns (Interest compounded annually) $ $ $ Interest Greg earns (Simple interest)

Q: Eric invest $1050 every year in an annuity that pays six. Six interest compounded annually. Payments…

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Q: Miroslava has $100,000 to invest in a saving account. She receives a steady interest rate of 3.75%…

A: option b is correct  at the end of 15 years Miroslava have balance $175,500.40 using the formula for…

Q: $10,000 is deposited for 2 years in an account that earns 5% interest.  calculate the simple…

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Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: Jacob has $4,800 to invest in a saving account. He receives a steady interest rate of 3.35%…

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Q: Fritz buys a car costing $10,500. He agrees to make payments at the end of each monthly period for 8…

A: P = 10500 r = 9.6% = 9.6/100 = 0.096 t = 8

Q: You have $400,000 saved for retirement. Your account earns 10% interest. How much will you be able…

A: Value(P) = $400,000  Interest (r) = 10%  = 0.10 Time (t)= 15 years  Payout annuity :  P = PMT * (1-(…

Q: Fernando has $6,600 to invest in a saving account. He receives a steady interest rate of 3.00%…

A: Compound interest formula is used

Q: loan

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Q: If you purchase a $600 item and pay for it with monthly installments for 2 years, the monthly…

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Q: Kyle has a $15,000 in college debt when he graduates. He will pay it back with regular monthlly…

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Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Q: Fritz Benjamin buys a car costing $21500. He agrees to make payments at the end of each monthly…

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Q: Richard invests $205.42 every month into his retirement. At the end of 30 years, he has a balance of…

A: ANSWER :

Q: Fritz buys a car costing $8100. He agrees to make payments at the end of each monthly period for 6…

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Q: You have $2,000 on a credit card that charges a 21% interest rate. If you want to pay off the credit…

A: The objective of this question is to calculate the monthly payment required to pay off a credit card…

Q: Jessica deposits $2435 at the beginning of each semiannual period for 8 years in an account paying…

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Q: You deposit $400 in an account earning 3% interest compounded annually.  How much will you have in…

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