You know that your family will have a reunion in 2 years and you need to save for the trip. You estimate that the trip will cost about $2,000 and you have access to an account earning 4% compounded monthly. If you saved for the trip by depositing a constant amount in the account every month, how much would you need to deposit each month in order to save for the trip? How much interest do you earn, all together?

Q: Gem plans to purchase an e-bike in 6 months so they open an account earning an annual interest of…

A: We have to find how much money is needed to open the account in order to reach the goal using given…

Q: How much simple interest would an investment of $2500 earn at the end of 10 years if the interest…

A: Given p=2500, rate =10% per year, time = 10 year

Q: Roslyn plans to use her savings to pay for a holiday. The holiday will cost $6000.  What minimum…

A: Sol

Q: A sum of $25,000 is deposited into an account paying 5.4% interest per year, compound daily. What…

A:

Q: Mika's parents want to have enough saved to give her $15 000 a year - for 4 years of college. They…

A: Mika's parents want to give $15000 per year for 4 years of college. Therefore they want to give…

Q: Huck borrows $3500 from his parents and has agreed to pay back the loan in 2 years. How much money…

A: Explanation of the answer is as follows

Q: A sum of $6 000 is invested at an interest rate of 6.4% per year. Find the time required for the…

A:

Q: A certain Program that you want to enter cost $2300, and you want to start the program in three…

A:

Q: you would like to have $77,000 available in 15 years. There are two options. account a has a rate…

A: We are supposed to have $77,000 in 15 years. Account a has a rate of 9.5% compounded once a year.…

Q: Hannah wants to have $ 4500 to help pay for a new deck in 7 years. If she wants to put her money…

A:

Q: Jake invests $4900 at an 8% interest rate compounded contínuously for 2 $5000 at a 7% interest rate…

A: