A savings account is opened with a $3,000 deposit. If the account earns 6.5% interest, compounded quarterly, and no other deposits or withdrawals are made, find the balance after 15 years.

Q: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: "Shelly deposits the $2,000 she got as a birthday gift from her grandmother into an account earning…

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Q: Find what simple interest rate will be necessary for Sonny to get a 40% return on a $500 investment…

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Q: Find the amount in a saving account at the end of 5 years if the amount originally deposited is $…

A: We have to find the amount in a saving account at the end of 5 years if the amount originally…

Q: Determine the interest earned after 10 years if $200 is invested in each of the following accounts:…

A: Given data: The principle (P) is $200 The time(T) is 10 years Rate of interest (R) is 6%   The…

Q: At the time of her grandson's birth, a grandmother deposits $2000 in an account that pays 8.5%…

A: the principal value = $2000 time period is 21 years which when converted into months is…

Q: A person deposits $300 on the last day of each quarter into a savings account that pays 9​%…

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Q: Find the final amount in the following retirement account, in which the rate of return on the…

A: The formula for future value of ordinary annuity is  FV=R1+in-1i where R is regular deposit, i is…

Q: Suppose you borrow $7,500 from a bank that charges 4% interest compounded monthly. How much will you…

A: From the given information, it is observed that the Principal is P = $7500, the rate of interest is…

Q: Jesaki Bank offers a 10-year CD that earns 2.3% compounded continuously.

A: The answer is in the explanation.Explanation:A=P⋅e^(r⋅t)Where:A is the amount of money accumulated…

Q: Jessica opens an ordinary annuity that earns 5.4% compounded monthly. He deposited each month. How…

A: Given that the future value FV=$ 24,000Interest rate  r=5.4%=5.4100=0.054compounded monthly…

Q: A man purchases a $2000 diamond ring for a down payment of $200 and monthly installments of $88 for…

A: Given: Cost price of diamond ring, P = $ 2000 Down payment amount = $ 200 Monthly installment = $88…

Q: A woman deposit $290 of her quarterly checks into an annuity for the education of her child. She…

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Q: Suppose you Invest $170 a month for 4 years Into an account earning 9% compounded monthly. After 4…

A: Consider the given information.

Q: If $500 is deposited each quarter into an account paying 8% compounded quarterly for 3 years, find…

A: Compounded quarterly n=4

Q: Toby Martin invests $ 2500.00 at the end of each year for 8 years at 12% interest compounded…

A: GIVEN INFORMATION principal = $ 2500. 00  time 8 years  rate 12 % compounded semiannually  number of…

Q: Suppose you deposit $10,000 into a savings account that earns 3.5% interest compounded quarterly.…

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Q: Ruth opens a savings account at 8% compounded semiannually and deposits $2,000 every 6 months for 10…

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Q: A personal account earmarked as a retirement supplement contains $242,100. Suppose $200,000 is used…

A: Let A be the amount  used to establish annuity R is the amount paid at the end of each quarter r be…

Q: A person pays $200,000 for a new house. A down payment of $70,000 leaves the mortgage of $130,000…

A: GivenDown payment =$70,000Mortgage p=$130,000Interest r=10% per year The monthly mortgage payment is…

Q: Find the future value of an account when $2250 is invested at 3.2% interest compounded quarterly for…

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Q: A deposit of $1000 is made into an account that earns interest at an annual rate of 5%. If allowed…

A: what would be the resulting total account balance if the interestcompounded monthly?

Q: Find the new balance for $1,000 left on deposit for 6 months at 4% interest compounded quarterly.

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