You deposited $7000 in an investment fund that pays 5.5% per year, compounded quarterly. How much interest will you earn over a period of five years?

Q: A child deposits his birthday money of $350 into an account that pays 5.6% interest compounded…

A: A child deposits his birthday money of $350, so the principal amount is $350    Rate = 5.6% interest…

Q: You deposit $1000 each year into an account earning 6% interest compounded annually. How much will…

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Q: You deposit $500 in an account earning 4% interest compounded annually. How much will you have in…

A: The continuous compounding formula is, Pt=P0ert In the formula, P0 is original principle sum, r be…

Q: $10,000 is invested for 10 years with an APR of 2% and quarterly compounding.

A: Given information P=$10,000 Rate of interest r=2%  ⇒r=2100=0.02 Time t=10 years For quarterly…

Q: You deposit $5000 each year into an account earning 7% interest compounded annually. How much will…

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Q: Francis invests $4000 in a savings account earning 3.25%/year compounded weekly for 5 years. How…

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Q: Sam begins saving for a down payment on a house using an investment account. The account earns…

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Q: A deposit of $2, 150 earns 6% interest compounded quarterly. How much money is in the bank after for…

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