John wants to have $40,000 in cash four years from now in order to pay for part of his mortgage on the house that he bought. If John finds a savings account that pays annual interest of 9% compounded quarterly, then how much should he invest right now in order to have the funds in 4 years?

Q: Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the…

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Q: James and Susan wish to have $10,000 available for their wedding in 4 years.How much money should…

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Q: For life insurance policies, some of the premium pays for the cost of the insurance, and the…

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Q: Lisa McNeil needs to choose between two invest- ments: One pays 6% compounded annually, and the…

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Q: Samuel is going to invest $4,900 and leave it in an account for 14 years. Assuming the interest is…

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Q: Jared was receiving rental payments of $4,000 at the beginning of every month from the tenants of…

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Q: Gertrude wants to make $500 monthly withdrawals for 10 years from an account which pays 4%…

A: Given Information: Gertrude wants to make $500 monthly withdrawals for 10 years from an account…

Q: To start a new business Beth deposits $2500 at the end of each six-month period in an account that…

A: Consider the given:  Given that:Both deposit $2500 = Rr%=6%r=0.06k=2t=9S=Ri1+in−1i=rki=0.062i=0.03

Q: If an amount of money Pin pesos is invested at r percent compounded annually, it will grow to an…

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Q: How much should she set aside now

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Q: How many years are required for your money to triple if it is invested at 9% compounded? a. annually…

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Q: How much should Rebecca have in a savings account that is earning 3.50% compounded semi-annually, if…

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Q: Oliver is going to invest $2,500 and leave it in an account for 18 years. Assuming the interest is…

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Q: Suppose you deposit $1, 000 twice a year for 30 years into an account that is compounded…

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Q: An artist currently has $840,000 to invest and her goal is to use these resources to acquire a $1.5…

A: From the given information, it is observed that P = $840,000, t = 6 and A = $1,500,000. Here, the…

Q: The adult children of a college professor are endowing a scholarship fund in their father’s name.…

A: Given that, Present value = P = $1000 Interest rate = r = 6% = 0.06 Time = n = 3years

Q: Pamela invests $16,300 in a savings account for which interest is compounded monthly, and if the…

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Q: John requires $3000 in 6 months to pay off a loan that has no prepayment privileges. If he has the…

A: Given : John requires $3000 in 6 months to pay off a loan that has no prepayment privileges. So,…

Q: If you have ​$50,000 in a bank account that is paying an interest rate of 9 percent that is being…

A: Given information P=$50,000 Rate of interest r=9% ⇒r=9100=0.09 A=2P=$100,000 n=compounded annually=1…

Q: The AMD investment company has advertised a new Mutual Fund  that has advertised to pay 10 %…

A: new Mutual Fund that has advertised to pay 10 % compounded continuously. Bob invested $ 8,500 in the…

Q: paying 15.5%

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Q: A couple needs $34,454.04 as a down payment for a home. If they invested the $11,000.00 they have at…

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Q: Matilda and Horace open a retirement account with $120,000. How many years will it take for the…

A: Find the time taken for the amount $120,000 to grow to $800,000 if it grows at a rate of 4.5%…

Q: How long will it take P10,000 to accumulate to the amount of P11,000 at 12% compounded monthly?…

A: (As  per Bartleby guidelines we are supposed to answer only one question(& its 3 related…

Q: Robin wishes to accumulate a sum of $450,000 in a retirement account by the time of her retirement…

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Q: If Amy needs $15,000 in years 6 for a down payment on a home how much should be invested today at…

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Q: Adam Kaminski just received a signing bonus of $1,600,000. His plan is to invest this payment in a…

A: Consider the signing bonus as principal, that is P= $1,600,000. r=7% As Adam plans to establish the…

Q: Suppose that you have children young, pay for their college expenses, and finally start saving for…

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Q: Approximately how much money would Manny have if he invested $1,200 at an interest rate of 5% for 7…

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Q: Suppose you want to accumulate $350,000 for your retirement in 20 years. You find an investment that…

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Q: Howard University’s School of Business will need several new commercial printers in 2 years and Dean…

A: Consider the provided question, Given, P = $60,000 Time = 2 years Rate of interest = 6% = 0.06…

Q: An investment fund pays 9% per year, compounded quarterly, on all money invested. How much must be…

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Q: 18. The APR of Bessie's savings account is 6%, and interest is compounded monthly. If the principal…

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Q: How much should you invest each month in order to have $500,000 if your rate of return is 2.7%…

A: Given, Compound interest, A=$500,000 Annual interest rate, r=2.7100=.027 Compound per year, n=12…

Q: Given the principal of $5000 and an investment that pays 8% interest, compounded monthly. How much…

A: Consider the given information.   The principal amount is $5000 at the rate of 8% and invested for 7…

Q: Lydia is going to invest $210 and leave it in an account for 17 years. Assuming the interest is…

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Q: Suppose you want to borrow $20,000 for a new car. You can borrow at 6% per year, compounded every…

A: P = monthly payment PV = loan amount r = rate of interest n = number of periods

Q: Barbara knows that she will need to buy a new car in 6 years. The car will cost​ $15,000 by then.…

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Q: . An investment fund pays 12% per year, compounded monthly, on all money invested. How much must be…

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Q: Alex and Toni are twins. After graduation and being finally able to get a job their plan for…

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Q: A man living abroad for 2 years wants to buy an ordinary annuity that will provide monthly payments…

A: The parents will receive  $750 each monthover the 2 years his parents receive the money…

Q: A young, investing-savvy artist plans to retire in 30 years and is planning to save $1,000 every…

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Q: How much should Shane have in a savings account that is earning 2.50% compounded monthly, if she…

A: Given information Regular withdraw d=$1,900 Interest rate r=2.50% ⇒r=2.50100=0.025 Number of…

Q: Morgan is going to invest $8,200 and leave it in an account for 10 years. Assuming the interest is…

A: A=$16500 P=$8200 t=10 years n=12 (compounded monthly) We have to found intrest rate

Q: Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the…

A: We will use the formula,  A=R1-(1+i)-ni where A =300,000, i=12%12=1%=0.01   n= 30*12=360 so,…

Q: Jerome will be buying a used car for ​$8,000 in 3 years. How much money should he ask his parents…

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Q: If an investment company pays 6% compounded semiannually, how much should you deposit now to have…

A: Compound interest formula:

Q: you want to retire with $1,500,000 in 40 years and can earn a rate of 10.8% with monthly…

A: We can find pmt using Excel .

Q: Maryam is planning to invest P150,000. Bank A is offering 7.5% compounded semi- annually while Bank…

A: The principal will be equal to 1,50,000 . From bank A , The rate = r               =7.5%…

Q: If you were to invest $400 at 3% interest compounded annually or each year, what would be your…

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