An amount of $2200 is invested at a 6.6% annual interest rate, compounded monthly. How many months will it take for the value of the investment to be worth at least $3080? Round your answer up to the next largest whole number of months.

Q: how long does it take an account containing $8000 to be worth $15000 if the money is invested at 9%…

A:

Q: you deposit $5,000 in a fund that pays 6% interest, compounded monthly. In how many years, the…

A: Given that initial amount = P=5000 Final amount= A= 15000 Interest rate = r = 6%=0.06 Time=t=?…

Q: $2100 is invested at a rate of 7% compounded monthly. What is the amount after 10 years?

A: In compound interest, total amount is given by A=P[1+(r/n)]nt

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: We put $2000 in a savings account getting 6% interest compounded daily for 5 years. how much…

A: We put $2000 in a savings account getting 6% interest compounded daily for 5 years. We have to find…

Q: Tara invested $8,890 in an account with an interest rate of 7.5% that was compounded quarterly. How…

A: When the interest is compounded, then the formula used is A=P1+rnnt , where, A is the final amount,…

Q: For 8 years, $33 is deposited each week into an account that earns 2.1% interest, compounded weekly…

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Q: $25,000 is deposited into an account that pays 6.75% interest compounded continously. How long will…

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Q: You have $7000 to invest for seven years. Which investment will provide the greater return:  5%…

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Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: Dylan takes out a bank loan of $11,500 at 3.8% interest compounded annually. How much interest, in…

A: Given data is : Loan P=$11500 Interest rate r=3.8%, compounded annually. Time t=3 years To find the…

Q: $5,000 is invested into an account that earns 3% annual interest, compounded monthly. How much is in…

A: Compound interest formula A=P1+rnnt Where A is accumulated amount, P is principal value, r is rate…

Q: You put $8,000 into an account that earns 4% interest compounded annually. How much money will be in…

A: We have to apply the compound interest formula for the given problem.

Q: A deposit of $3, 000 earns 2% interest compounded semiannually. How much money is in the bank after…

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Q: Find how much should be invested to have $16,500 in 9 months at 9.7% simple interest.

A: It is an important part of statistics . It is widely used .

Q: You get $450 after investing $125 for at an annual interest rate of 8% How long will it take to get…

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Q: Find the interest rate required for an investment of$5000 to grow to $7500 in 5 years if interest is…

A: Given the principle of investment (P) =$5000 , amount after 5 years (A)=$7500 and time duration…

Q: An investment of $5,650 is made in an account compounded quarterly at 5.1%. How much will the…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: We put $500 in an account earning interest compounded continously. What interest rate do we need if…

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Q: $2000 is invested for 5 years with an APR of 3% and daily compounding.

A: We have to apply the compound interest formula to solve the given problem.

Q: Karl buys a $2500 investment certificate that pays 3.75% simple interest per year. How much more…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

A: Matthew deposits $818 in the bank. He is told that his account will earn 4% interest compounded…

Q: A student wishes to invest $500 in a savings account yielding 3% annual interest compounded every 6…

A: Compound interest formula needs to be applied.

Q: A deposit of $2, 150 earns 6% interest compounded quarterly. How much money is in the bank after for…

A:

Q: ​$1590 is compounded daily at a rate of 10​% for  7 years. Let 1 year=365 days.

A:

Q: Sam invests $1000 into an account earning 5.25% interest compound quarterly. How long will it take…

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