You deposit $200 monthly in a saving plan with APR of 6% for 10 years.  How much would your accumulated balance be after the 10 years.

Q: An account with an initial balance of 1500 earns 7% interest for 1.5 years. What is the ending…

A: Given:   Initial Amount P = 1500   Interest rate r = 7%   Time = 1.5 years   Find ending balance A…

Q: Mark borrowed $18,742 to help pay for expenses. If the loan carries an annual interest rate of 3.9%…

A: From the given information we find the monthly payment.

Q: Suppose you want to have $400,000 for retirement in 25 years. Your account earns 10% interest. How…

A: It is given that, the future value is FV = $400,000, n=25×12=300, and r=10%=0.112  since each month…

Q: what is the 2%interest rate over 5 years

A: here given    carlos has 3000 to open a bank account p =3000 R =2% N = 5 years  I =PRN100

Q: You owe $2300 on a credit card with 21% APR if you pay $80 a month, how long will it take you to pay…

A: Formula for the loan amortization is  A=Pi(1+i)n(1+i)n-1 where A=periodic payment P=loan amount…

Q: Find the simple interest and total amount if you borrow $8000 at 12% for 3 years.

A:

Q: Alex takes an auto loan of amount $25,000. He has to repay X at the end of each month for the first…

A: Solution:

Q: Determine the interest earned if $87000 is invested at 1.7% simple interest for 47 months.

A: .

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: A bank features a savings account that has an annual percentage rate of 5.4 % with interest…

A: P = $ 5500 APR = 0.054

Q: On April 2014, you could buy a 30-year U.S. Treasury note for $15000 that pays 6.08% simple interest…

A: Given data:   The given amount is P=$15000. The given interest rate is r=6.08%. The given time from…

Q: Jenny start saving for retirement. She contributes $300 per month with an APR OF 2.99%. She plans to…

A: Given: Jenny contributes $300 per month with an APR OF 2.99%. She plans to do this 35 years before…

Q: Joe invests $500 into an account earning interest compounded monthly. Determine the rate if there…

A: The formula for the compounded amount is given by A=P1+rnnt where A is the compounded amount, P is…

Q: Alewuya invests $3,000 at 2% simple interest for 1 year. How much is in the account at the end of…

A: Given, Principal amount (P) = $3,000 Interest rate (r) = 2% Time (t) = 1 year   Introduction: Simple…

Q: Sarah deposited $3000 in an account paying 5.3% per annum compounded semi- annually.

A:

Q: Discount p500 for 2 years at 6% simple interest?

A: The simple interest formula for a principal amount(p) for t years at an interest rate of r% is given…

Q: You put $399 per month in an investment plan that pays an ApR 6%. How much money will you have after…

A: Given: PMT=$399 APR=6% money after 15 years =?