Audrey is going to invest in an accour paying an interest rate of 5.7% compounded daily. How much would Audrey need to invest, to the nearest dollar, for the value of the account to reach $238,000 in 20 years?

Q: Tom wants to have $6,000 in three years. At 4.75% interest compounded monthly, how much does he need…

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Q: How much did Speedy Movers borrow for a debt that accumulated to $51,238.44 in four years? The…

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Q: A company needs $7,000,000 in 10 years in order to expand their factory. How much should the company…

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Q: Lincoln invested $930 in an account paying an interest rate of 5.6% compounded daily. Assuming no…

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Q: Regina wants to have$280,000 in 20 years to buy a vacation home. To reach this amount, how much…

A: Consider the given information. The total amount after 20 years is $280,000. The total number of…

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: Find the amount due at the end of 8 years and 6 months if P4, 000 is invested at 7% compounded…

A: Principal amount:  $ 4000 Interest Rate:  r = 7% Time Period:  t = 8 year 6 months

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: 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: 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: Mason invested $65,000 in an account paying an interest rate of 4.6% compounded annually. Assuming…

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Q: A $5000 investment is made in a savings account that pays 10%/a compounded quarterly. How long will…

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Q: Grace invested $5,200 in an account paying an interest rate of 4.6% compounded daily. Assuming no…

A: Given; Principal,P=$5200 Time,t=11 years Rate,r=4.6% compounded daily.

Q: Rochelle invested $100 at the end of every month into an RRSP for 11 years. If the RRSP was growing…

A: Given information Initial principal balance P=$100 Rate of interest r=4.60% ⇒r=4.60100=0.046 Period…

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 you have $30,000 in a bank account that is paying an interest rate of 4 percent that is being…

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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: Amelia is going to invest in an account paying an interest rate of 2.3% compounded quarterly. How…

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Q: Mason is going to invest in an account paying an interest rate of 5.3% compounded quarterly. How…

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Q: If you borrowed $200,000 to buy a house at 6% interest per year, compounded monthlyand paid back the…

A: Time =t= 30 years Compounded monthly , so n=number of times compounded in a year= 12interest rate =…

Q: If you invest $10,000 at an interest rate of 3.2% compounded monthly, when will your investment be…

A: Initial amount=P=$10000Final amount=A=$15000Interest rate=r=3.2%=0.032Time=t=?Number of times…

Q: Anthony is going to invest in an account paying an interest rate of 4.6% compounded monthly. How…

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Q: Adrian invested $7,200 in an account paying an interest rate of 3.1% compounded monthly. Assuming no…

A: P=$7,200,  r=3.1%=0.031,  A=$12,110,  n=12

Q: Peyton is going to invest $310 and leave it in an account for 16 years. Assuming the interest is…

A: Principal amount:  P = $ 310 Total time period is: t = 16 years Interest is compounded quarterly.…

Q: n how many years will the amount of P10,000 triple if invested at an interest rate of 10% compounded…

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Q: If you invest $10,400 at an interest rate of 2.5% compounded monthly, when will your investment be…

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Q: Dylan invested $47,000 in an account paying an interest rate of 4% compounded annually. Assuming no…

A: Formula: The compound interest formula is given by, FV=PV1+rnnt Given: FV=$79,200, PV=$47,000, r=4%,…

Q: Chase invested $39,000 in an account paying an interest rate of 3.2% compounded daily. Assuming no…

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Q: Evan is going to invest in an account paying an interest rate of 5.4% compounded annually. How much…

A: Final amount = Principal amount + InterestFinal amount = P+P(1+rn)ntn=1 (compounded annually)Final…

Q: How much did Speedy Movers borrow for a debt that accumulated to $56,036.80 in five years? The…

A: We need to find the amount that Speedy Movers borrow for a debt that accumulated to $ 56036.80 in…

Q: Damian invested $880 in an account paying an interest rate of 5.2% compounded annually. Assuming no…

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Q: How much will you have after 25 years if you put $2000 per month in the account that instead earns…

A: The solution is given below:

Q: Kayla is going to invest in an account paying an interest rate of 2.9% compounded monthly. How much…

A: We know the compound interest formula:A=P1+rnntwhere A= Total amount         P=Principle amount…

Q: Claire invested $2,400 in an account paying an interest rate of 3.5% compounded monthly. Assuming no…

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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: Ariana is going to invest in an account paying an interest rate of 3.7% compounded monthly. How much…

A: r=3.7%  A=$25000 t=14 years  n=12 (compounded monthly)

Q: At the birth of their child, how much should a couple invest to have $20,000 on the child's 18-th…

A: The principal investment required to get a total amount of $20,000.00 from compound interest at a…

Q: Madison is going to invest in an account paying an interest rate of 5.1% compounded quarterly. How…

A: Let the amount invested in the account be P Final value of amount in the account(A) is $310 Number…

Q: A newborn child receives a $8000 gift toward a college education from her grandparents. How much…

A: Topic = Algebra

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: Blue Spruce Motel will need to replace all of its bedding in six years, at a cost of $20,000. How…

A: Blue Spruce Motel will need to replace all of its bedding in six years, at a cost of $20,000.

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: If you have $5000.00 to invest at a rate of 3.5% compounded monthly, how long would it take to save…

A: The savings obtained by investing an amount P at an interest rate of r % (compounded monthly) for t…

Q: I want to have $20,000 to buy a car in five years. How much would I have to invest now in a savings…

A: We will use the Compound Interest formula to find the amount you need to invest every year to get…

Q: Find how much Sally would have to invest now at 6.25% compounded quarterly in order to have $15,000…

A: This question is based on compound interest.

Q: How long it would take to double an invesment if the rate of interest is 10% compounded quarterly?

A: Follow the procedure given below.

Q: Madison invested $3,300 in an account paying an interest rate of 6.7% compounded daily. Assuming no…

A: The given data is: Medison invested P=$3300 Rate of interest R=6.7% Time t=5 years To find the…

Q: If we invest $4,000.00 in an investment accoint with a 3% APR interest rate, compounded monthly, how…

A: here we have  P=4000 r=3%=0.03 n=12 for monthly compound  t=6 years