Alan deposited $6000 into an account with a 5% annual interest rate, compounded semiannually. Assuming that no withdrawals are made, how long will it take for the investment to grow to $12.276?

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: Find the time required for an investment of 3,000 dollars to grow to 5,000 dollars at an interest…

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Q: Tony Ring wants to attend Northeast College. If he deposits $34,507 today, how much will he have 4…

A: Given Principal amount = $34,507 Interest rate = 12% compounded semiannually Time = 4 years

Q: How much should Linda Bryan set aside now to buy equipment that costs ​$8,000 in one​ year? The…

A: For simple interest, the amount formula is, A = P + PRT100 and for compound interest, the formula is…

Q: Shawn made equal deposits at the beginning of every 3 months into an RRSP. At the end of 10 years,…

A: Let quarterly deposits be x  Interest rate = 2.2512%=0.001875  Time = 10 years Period n = 10 x 12 =…

Q: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: Steve decided to deposit $4,680 into a savings account with 6.5% interest, compounded quarterly.…

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Q: Isaiah is going to invest $94,000 and leave it in an account for 16 years.Assuming the interest is…

A: Isaiah is going to invest $94,000 and leave it in an account for 16 years. The interest is…

Q: The Get Rich Investment Group had a $25,000 investment grow to $40,000 over a ten- year period. The…

A: To find the interest rate

Q: Nolan invested $5,300 in an account paying an interest rate of 3.8% compounded annually. Assuming no…

A: The formula for the compound interest is: A=Pert Given that P=5300, A=6880 and r=3.8%  =3.8100…

Q: Find the time required for an investment of 4,000 dollars to grow to 6,000 dollars at an interest…

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Q: If Landon invests $3,000 in a 6-year certificate of deposit at the annual rate of 7.75%, compounded…

A: Let A be the amount of future value of investment,then A can be calculated as follows

Q: If an investment grew to $15,500 in 3 years and the interest amount earned was $1,752.71, calculate…

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Q: Lena deposited $6000 into an account with a 11% annual interest rate, compounded pemiannually.…

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Q: Beck would like to be a millionaire in 35 years. How much would she need to invest quarterly in a…

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Q: Ian invested $90,000 in an account paying an interest rate of 2.6% compounded quarterly. Assuming no…

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Q: Austin invested $200 in an account paying an interest rate of 6.1% compounded quarterly. Assuming no…

A: Austin invested $200 in an account paying an interest rate of 6.1% compounded quartely.

Q: If you were to invest $800 at 8% interest compounded annually or each year, what would be your…

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Q: Erin deposited $1,400 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Note: Since you have posted multiple questions we will solve the first question for you. If you want…

Q: Mr. Gordon plans to invest $600 at the end of each month in an account that pays 6%, compounded…

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Q: A newborn child receives a $20,000 gift toward a college education from her grandparents. How much…

A: Given that  A baby recives 20000 Interest rate is 7% for 17 years  To find the amount will receive…

Q: Jayden invested $65,000 in an account paying an interest rate of 2.1% compounded quarterly. Assuming…

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Q: Carter invested $16,000 in an account paying an interest rate of 5.6% compounded monthly. Assuming…

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Q: Aldo deposited $2000 into an account with a 7.8% annual interest rate, compounded monthly. Assuming…

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Q: Jessica would like to have $36,000 to buy a new car in 9 years. To accumulate 36,000 in 9 years, how…

A: We have to find that how much would Jessica need to invest monthly in a sinking fund with 6%…

Q: If Jean invests $2300 in a retirement account with a 6% interest rate compounded annually, how long…

A: To determine the time required for the investment to accumulate to $ 4150.

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: Steve decided to deposit $3,285 into a savings account with 4.5% interest, compounded quarterly.…

A: Here we have to find how much money Steve have after 4 years in his account. The details calculation…

Q: Laurie has $2,500 in an investment account. What annually compounded interest rate would she need to…

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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: Juan Dela Cruz wants to deposit P5, 000 every quarter at 16% compounded quarterly for 5 years. How…

A: Compound Interest: A=P(1+rn)nt P: the principal, amount of deposit  A: the new balance  t: the time…

Q: If money is worth 5% compounded quarterly, find the equated time for paying a loan of P150,000.00…

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Q: Nathan invested $3,500 in an account paying an interest rate of 3.5% compounded quarterly. Assuming…

A: Initial amount=P= 3500  Final amount=A=? Time= t=19 years  Interest rate=r= 3.5%= 0.035  Number of…

Q: Oliver invested $53,000 in an account paying an interest rate of 2.7% compounded daily. Assuming no…

A: Given P=53,000R=2.7%t=20 yearsWe know that compound interest=P(1+Rm)mt Here m is the no.of…

Q: Your RRSP savings of $50,000 are converted to a RRIF at 4.95% compounded monthly that pays $5,220 at…

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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: Beth has a $12 000 student loan that she needs to repay. Payments are made monthly for the next 2…

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Q: Francine currently has $45,000 in her 401k account at work, and plans to contribute $3,000 each year…

A: We need to find total amount accumulated.

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: Shawn invested $130 at the end of every month into an RRSP for 13 years. If the RRSP was growing at…

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Q: Sarah deposited $15,000 in an investment fund that was growing at a rate of 3.00% compounded…

A: Please refer to the image below

Q: Erin has $250,000 saved for retirement in an account earning 3.4% interest, compounded quarterly.…

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Q: Elysa bought a car priced at $8942 for 12% down and equal semi-annual payments for 4 years. If…

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Q: You deposited $7000 in an investment fund that pays 5.5% per year, compounded quarterly. How much…

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Q: The Get Rich Investment Group had a $25,000 investment grow to $40,000 over a ten-year period. The…

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Q: After graduating with a master's degree, Naomi combined all of her student loans into a single loan…

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Q: Sarah invested $3,800 in an account paying an interest rate of 3.6% compounded daily. Assuming no…

A: Given:  Sarah invested $3800 in an account paying an interest rate of 3.6% compounded daily.  To…

Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…

A: According to the question, we have the data set: Interest rate= 3.2 % = 0.032  n= 4 (amount is…