You plan to save money for a down payment of $45,000 to purchase an apartment. You can only afford to save $6,000 at the end of every 6 months into an account that earns interest at 5.50% compounded monthly. How long will it take you to save the planned amount? 6 years (x 10 months 6 months 3 years Express the answers in years and months, rounded to the next payment period

Q: You deposit $3000 in an account earning 2% interest compounded monthly. How much will you have in…

A: Since, there has been a deposit of $3000 in an account earning 2%interest compunded monthly. Our aim…

Q: you deposit $4000 in an account that pays 7% interest compounded semiannually. After 3 years,…

A:

Q: a man decides to save money in a mutual investment fund about 13% interest annually. if he leaves…

A: a man decides to save money in a mutual investment fund about 13% interest annually. if he leaves…

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: An amount of $1500 is deposited semi-annually for two years into a fun 10.5% per year, compounded…

A: Its is given that $1500 is deposited semi annually for two years into a fund that pays 10.5% per…

Q: You make a payment of $300 at the beginning of each month into an account that earns 3.6% annual…

A:

Q: You can afford monthly deposits of $120 into an account that pays 2.4% compounded monthly. How long…

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Q: If $600 is borrowed and the interest after 24 months is $120, what is the annual interest rate for a…

A: Solution

Q: Jim and Dianna want to save for their child’s college expenses. They find an annuity that pays 6%…

A: r=6% Principal money,P=$300 N=12 T=10 yrs  Money they will have after 10 yrs be tye amount (A).

Q: If you want to earn 15% annual simple interest on an investment, how much should you pay for a note…

A:

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

A:

Q: You deposit $3000 in an account that pays 7% interest compounded semiannually. After 3 years. The…

A:

Q: balance of 5000 $. f he does not make a withdvaual or deposit how much money will be in ricks…

A: We will find the final amount.