Claire has invested $11,000 in a 24-month CD that pays an annualized rate of 3.98%. How much interest will Claire receive at maturity? (Round to the nearest cent)
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Claire has invested $11,000 in a 24-month CD that pays an annualized rate of 3.98%. How much interest will Claire receive at maturity? (Round to the nearest cent)
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- Jacqueline invests $12000 for 8 years and 8 months. The account earns 11% semiannually. What is n for the compound interest part? A)What is the future value after the compound interest part? B) Simple interest is used for how many months? C) Assuming simple interest for the partial period, how much money does Jacqueline have in the account at the end of 8 years and 8 months?Lisa is depositing $1,600 in a six-month CD that pays 2.83% interest. How much interest will she accrue if she holds the CD until maturity? (Round to the nearest cent)Interest Earned. Claire has invested $9,000 in a 18-month CD that pays an annualized rate of 5.31%. How much interest will Claire receive at maturity? At maturity, the amount Claire will receive in interest is $ (Round to the nearest cent.)
- Interest Earned. Claire has invested $9,000 in a 15-month CD that pays an annualized rate of 7.05%. How much interest will Claire receive at maturity? At maturity, the amount Claire will receive in interest is $______Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. What is n for the compound interest part? What is the future value after the compound interest part? Simple interest is used for how many months? Assuming simple interest for the partial period, how much money does Hanna have in the account at the end of 8 years and 10 months?Noah invests $3,600 for two years. The account pays 0.43% monthly compound interest. To the nearest cent, what's the total that will be in Noah's account after two years? $1
- Sophie borrows $ 10,000 at an annual effective interest rate of 12% and will repay the loan over 10 years with monthly payments at the end of each month. The first monthly loan payment is $ X, and each subsequent monthly loan payment increases by 0.25%. Determine X.Joan Tanaka borrows $80,000 at 14 percent interest toward the purchase of a vacation home.Her mortgage is for 25 years. a. How much will her annual payments be? (home payments are usually on a monthly basis, but we shall do our analysis on an annual basis for ease of computation.) b. How much interest will she pay over the life of the loan?Margo borrows $600, agreeing to pay it back with 7% annual interest after 15 months. How much interest will she pay? Round your answer to the nearest cent, if necessary. A
- Hanna invests $8400 for 8 years and 10 months. The account earns 5% semiannually. a) What is n for the compound interest part? b) What is the future value after the compound interest part? c) Simple interest is used for how many months? d) Assuming simple interest for the partial period, how much money does Hanna have in the account at the end of 8 years and 10 months?Rachael invests $8000 for 7 years and 8 months. The account earns 12% semiannually. A) What is n for the compound interest part? B) What is the future value after the compound interest part? C) Simple interest is used for how many months? D) Assuming simple interest for the partial period, how much money does Rachael have in the account at the end of 7 years and 8 months?At the end of each of the past 14 years, Vanessa deposited $450 in an account that earned 8% compounded annually. How much is in the account today? How much would be in the account if the deposits were made at the beginning of each year (PMT Type) than at the end of each year? (Use Future Value of an Annuity) Suppose your opportunity cost (interest rate/year) is 11% compounded annually. How much must you deposit in an account today if you want to pay yourself $230 at the end of each of the next 15 years? How much must you deposit if you want to pay yourself $230 at the beginning of each of the next 15 years? Bruce invested $1,250 (present value - enter as a negative number) 10 years ago. Today, the investment is worth $3,550 (future value). If interest is compounded annually, what annual rate of return did Bruce earn on his investment? (Use Solving for r - Rate of Return- on a Lump Sum) Mario wants to take a trip that costs $4,750 (future value), but currently he only has $2,260…