Matthew invested $4,700 in an account paying an interest rate of 3% compounded monthly. Peyton invested $4,700 in an account paying an interest rate of 3-% compounded continuously. After 14 years, how much more money would Matthew have in his account than Peyton, to the nearest dollar?

Q: Gabriel invested $17,000 in an account paying an interest rate of 3% compounded annually. Assuming…

A: It is compound interest problem for calculating time period.

Q: A sum of $50,000 is invested in a savings account which pays interest at a rate of 9% per year…

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Q: Abigail wants to save $15,000 to buy a car in 7 years. If she deposits $10,000 into an account that…

A: Topic- compund intrest

Q: Charlotte invested $33,000 in an account paying an interest rate of 7 % compounded continuously.…

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Q: Jerome will be buying a used car for $15,000 in 3 years. How much money should he ask his parents…

A: Given, Future value  A=$15,000           Interest r=0.05           Time t=3 To find the Present…

Q: Suppose you as a businessman leave an initial amount of 600$ in savings account at an annual rate of…

A: Simply use the formula of the Compound interest.

Q: how long will it take for the amount in the account to reach $12,000?

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Q: How long will it take the money to triple itself if invested at 10% compounded semi-annually

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Q: A principal of $1800 is invested at 4.5% interest, compounded annually. How much will the investment…

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Q: an investment of $7740 grows to $9635 in 6 years at continuously compounded interest, what is the…

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Q: How much more will an investment of $10,000 be worth after 25 years if it earns 6% compounded…

A: To find- How much more will an investment of $10,000 be worth after 25 years if it earns 6%…

Q: Alyssa invested $180 in an account paying an interest rate of 8 3/8 % compounded annually. Lily…

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Q: After several years of working, Katy has savings of $100,000. If she invests that $100,000 in a…

A: Consider the provided question, Given Principal = $100,000 Time = 20 years Rate of interest = 5%

Q: What rate of interest compounded annually is required to triple an investment in 11 years? The rate…

A: Recall: Compound interest Formula:                 A=P(1+rn)nt ; where A- Amount after t years…

Q: How many months will it take for a $4000 to grow into $5600 if money can earn 6% p.a. compounded…

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Q: If you invest $2,593 compounded annually at 8.5%, how long will it take to double your investment?

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Q: Oliver invested $970 in an account paying an interest rate of 7 1/2% compounded continuously. Carson…

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Q: Sophie invested $170 in an account paying an interest rate of 2% compounded continuously. Wyatt…

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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: Jocelyn invested $56,000 in an account paying an interest rate compounded continuously. Oliver…

A: JocelynA=P1+R12002Twhere A=amount, P=principal amount, R=rate of intereset and T=time…

Q: Brandon invested $41,000 in an account paying an interest rate of 3 % compounded continuously. Evan…

A: Formula for simple compound interest where P is principal amount            r is interest rate…

Q: how long will it take for 16200 to double if it is invested at 5.5% compounded quarterly

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Q: How long will it take to triple the sum of money invested at 12% compounded monthly?

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Q: How long will it take P1000.00 to amount P1,346.00, if invested at 6% compounded quarterly.

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Q: If you invested $2,300 at 12% interest, compounded daily, then how much would this investment be…

A: Given : $2300 is invested at 12% interest, compounded daily

Q: A principal of $1500 is invested at 3% interest, compounded annually. How much will the investment…

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Q: Jocelyn invested $56,000 in an account paying an interest rate of 7% compounded continuously. Oliver…

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Q: If you invest $1147 compounded annually at 8.5%, how long will it take to double your investment?…

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Q: If Hannah places $ 5500 into an account earning 6% interest compounded continuously, how much will…

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Q: A principal of  $4800  is invested at  6.75%  interest, compounded annually. How much will the…

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Q: How long would it take for an investment to at least double its original amount at 3.62% compounded…

A: NOTE: Refresh your page if you can't see any equations. . here we have  r=3.62%=0.0362 n=12 for a…

Q: Jerome will be buying a used car for ​$9,000 in 3 years. How much money should he ask his parents…

A: Use compound interest formula.

Q: How long will it take $10,000 to grow to $15,000 if the investment earns an interest rate of 12% per…

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Q: How much money should be invested in an account that earns 6% interest,  compounded monthly, in…

A: Formula to be used

Q: Sophie invested $170 in an account paying an interest rate of 2-% compounded continuously. Wyatt…

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Q: how much money should be invested now in order to have $18,000 in 4 years if the investment earns…

A: A=Final Amount=$18000 t=Number of time periods elapsed=4 years r=Interest Rate=5.4%=0.054 n=Number…

Q: Hannah wants to have $ 7500 to help pay for a new deck in 10 years. If she wants to put her money…

A: Given Future value =7500 r= 0.085 t=10 years

Q: How long will it take $3,000 to grow to $20,000 if it invested at 6% compounded monthly? ___years…

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Q: How much money should be invested monthly at 6% per year, compounded monthly, to have $2000 in 8…

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Q: A principal of  $4300  is invested at  4.5%  interest, compounded annually. How much will the…

A: In Compound Interest Amount of principal (P) after 'n' years @ 'r' rate of interest will be A =…

Q: How long does it take the amount of money in your wallet to triple if it is invested at 7% interest,…

A: Let initial amount = P So, final amount = A= 3P Interest rate= 7%= 0.07  n= number of times…

Q: Dylan invested $4,400 in an account paying an interest rate of 9 1/8% compounded continuously. Anna…

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Q: Joshua invested $99,000 in an account paying an interest rate of 4,% compounded continuously.…

A: Given Joshua invested $99,000 in an account paying an interest rate of 412% compounded continously…

Q: What annual interest rate would allow Karen to double her investment if it is compounded quarterly…

A: The compound interest formula for an initial amount P deposited for a time period of t at a rate of…

Q: if 25,000 is invested at 12%, How much will it be worth after 5 years if it is compounded annually?

A: Remember that, Compound interest (or compounding interest) is the interest on a loan or deposit…

Q: How long does it take $2000 to double if it is invested at 4.25% interest, compounded continually?

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Q: A couple needs $23,335.13 as a down payment for a home. If they invested the $7,000.00 they have at…

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Q: If $18,000 is invested at 6% compounded monthly, what is the amount after 5 years?

A: Answer to question 1. The principal amount is, P = $18,000. The interest rate is r = 6%. The number…