George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it take George’s account to have a balance of $5,000?

Q: Brent Pickett borrowed ​$5000 from his brother Dave. He agreed to repay the money at the end of 2…

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Q: If money is worth 4% compounded quarterly, how much (in $) would the house have cost if she had paid…

A: Concept: The trigonometric ratio are ratios, sine, cosine, tangent, cosecant, secant and cotangent.…

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: Timothy invests $5,000 at 17% interest compounded daily for three years.How much does he have in the…

A: topic- compound interest

Q: Edgar accumulated $5,000 in credit card debt. If the interest rate is 20% per year and he does not…

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Q: Loma Evenson would like to buy a $19,000 car in 4 years. Loma wants to put the money aside now .…

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Q: Alexus would like to accumulate $154,600 for her retirement in 25 years. If her local bank promises…

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Q: Sarah invests $4848 in a savings account with an annual interest rate of 5% compounded 2 times per…

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Q: Audrey deposited $12,000 into an account paying 5% interest compounded twice a year. How long will…

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Q: You deposit $5,000 in a savings account that earns 6% simple interest per year. How many years will…

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Q: Sara borrowed 25,500 to purchase a new car .if the rate on the loan is 8%compounded quarterly , how…

A: Given Information -  Amount borrowed by Sara = 25,500 Rate of interest = 8% Time period of loan = 5…

Q: The Nelsons would like to take a cruise to Alaska in 5 years and will need $9,350. What amount…

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Q: The adult children of a college professor are endowing a scholarship fund in their father’s name.…

A: Given that, Present value = P = $1000 Interest rate = r = 6% = 0.06 Time = n = 3years

Q: Clearlake optical has a $50000 note due in 3 years. The owners wish to create a sinking fund to pay…

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Q: Alain Dupre wants to set up a scholarship fund for his school. The annual scholarship payment is to…

A: Given Amount=$2300 Rate of interest=3.3%

Q: Christian is saving money and plans on making monthly contributions into an account earning an…

A: Given data is: Future value of amount after n period A=$9000 Interest rate i=5.7% Period n =32…

Q: Henry has inherited $18 000 and would like to invest the money to pay for new car in two years. If…

A: The amount he invested for new car is:  P = $18,000 Interest rate:  r = 4.9% Interest is compounded…

Q: Mika's parents want to have enough saved to give her $15 000 a year - for 4 years of college. They…

A: Mika's parents want to give $15000 per year for 4 years of college. Therefore they want to give…

Q: Joel is considering putting a 1300 laptop on his credit card, which has an interest rate of 2.25%…

A: Let's say a person has taken a certain amount of loan and wants to repay it in equal installments.…

Q: If money is worth 4 % compounded monthly, what payment at the end of each quarter will replace…

A: The value of r compounded monthly , r=4% compounded monthly=412%  Number of months in each quarter =…

Q: . Find the size of the payments if money earns 3% compounding quarterly.

A: Given: Helen has borrowed $4000, and agreed to pay it back in two equal payments to be made in 6…

Q: What amount should be deposited today to buy for a P 216,000.00 house and lot in 6 years? The bank…

A: We need to find the amount that should be deposited today to buy for a P 216,000.00 house and lot in…

Q: You can afford monthly deposits of $250 into an account that pays 3.0% compounded monthly. How long…

A: This is a problem of compound interest. By using general formula we will solve the given question.

Q: For her 1st birthday, Ruth's grandparents invested $1200 in an 18-year certificate for her that pays…

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Q: A television set is for sale at P13, 499 in cash or in installment terms, P2,500 each month for the…

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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: 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: venture promises a 7% annual interest rate compounded once a year. For how many years should Roger…

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Q: Jeffrey invested the profit of his business in an investment fund that was earning 3.50% compounded…

A: Given that Jeffrey invested the profit of his business in an investment fund that was earning 3.50%…

Q: Bo won $10,000 on a scratch-off lottery ticket. In five years, he wants to buy a new bass boat that…

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Q: For her first birthday, Ruth's grandparents invested $800 in an 18 year certificate for her that…

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Q: David deposited P2,500 for 2 years at 10% compounded annually and earned a compound interest of…

A: Given that the principle amount=2500And compound interest=525So the future value= 2500+525=3025

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: Grace's bank has a Cerificate of Deposit with an APR of 5% compounded monthly. (a) If Grace deposits…

A: Here, the formula used is: CI=P1+rnnt Here, CI is compound interest, P is the principal amount, r is…

Q: Leo needs $30,000 to cover

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Q: Russell invested 50,000 pesos in a bank that pays 8% compounded quarterly for 5 years. How much is…

A: We used the formula A=P(1+r/n)^(nt)

Q: Marvin wants to buy a car worth P1,200,000. He can pay P200,000 down payment and the balance every…

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Q: Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded annually, how…

A: Compound interest

Q: Lucy invested for 15 years at 2.8%, compounded annually and ended with an account balance of $2250.…

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Q: For her 1st birthday, Ruth's grandparents invested $800 in an 18-year certificate for her that pays…

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Q: Dawson is saving for a down payment to buy a house. The account earns 2.5% interest compounded…

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Q: when you retire in 15 years. If you can earn 3%

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Q: Mike buys a ring for his fiancee by paying $30 a month for one year. If the interest rate is 10% per…

A: It is given that monthly payment is $30 for one year and the interest rate is 10% per year. To find…

Q: Rhoda would like to have P60,000 in her account by the end of three years. How much should she…

A: A=60000, t=3,  r=12%=0.12, n=4.

Q: How much did the client borrow at 5% compounded annually when he settled his obligation of P85,300…

A: Compound hobby (or compounding hobby) is the hobby on a mortgage or deposit calculated primarily…

Q: Noman would like to have $50,000 in 16 years to give to his son to help pay for his university…

A: As per the given condition the person wants to make his money goes up to $50000 in 16 years, if the…

Q: The APR of Bessie's savings account is 6%, and interest is compounded monthly. If the principal in…

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Q: For her 1st birthday, Ruth's grandparents invested $700 in an 18-year certificate for her that pays…

A: Given: For her 1st birthday, Ruth's grandparents invested $700 in an 18-year certificate for her…

Q: Rahel left a $5000 investment for 3 years in an account that paid 4% per year, compounded…

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