How much money do you need to deposit in a bank each month if you are planning to have $5000 in four years by the time you get out of college? The bank offers a 6.75% interest rate that compounds monthly.

Q: Melanie invests $13,000 at 13% simple interest for 1 year. How much is in the account at the end of…

A: Substitute 13000 for P, 13% for r and 1 year for t in the simple interest formula I=Prt and…

Q: Carrie took out a $12,000 personal loan to pay off her credit cards. She will not make a payment for…

A: (you are not mention clearly interest rate ,is it monthly or yearly) Given Principal P=$12,000…

Q: You deposit $5000 each year into an account earning 7% annual interest compounded annually. How much…

A: Use formula to calculate

Q: A college student borrows $10,000 today at 10% interest compounded annually. Four years later, the…

A:

Q: You deposit $5000 each year into an account earning 6% interest compounded annually. How much will…

A: Given:

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: You would like to have $900,000 when you retire in 40 years. How much should you invest each quarter…

A: Given:Amount after 40 years, A =$900,000                                 Rate, r =4.5%=0.045…

Q: You deposit $1000, and it grows to $1,500 in 5 years.  What is your annual return?

A:

Q: You deposit $400 in an account earning 4% interest compounded annually. How much will you have in…

A: Given: Deposited amount  P0=400           Interest R=4%           Compounded anually n=1…

Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

A:

Q: How much money do you need to deposit in a bank today if you are planning to have $5000 in four…

A: Here we have to find hoe much money do you need to deposit in a bank today if you are planning to…

Q: You deposit $4000 in an account earning 4% interest compounded monthly. How much will you have in…

A:

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: After retiring, Delaney wants to be able to withdraw $4,000.00 every month from her account for 25…

A: We will find out the required value .

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

A:

Q: You deposit $300 in an account earning 6% interest compounded annually. How much will you have in…

A:

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: You deposit $500 each month into an account earning 3% interest compounded monthly. a) How much…

A:

Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Let the monthly payment be P . It is provided that future value, A=10000 . The rate of interest, r…

Q: You want to be able to withdraw $20,000 each year for 20 years. Your account earns 5% interest…

A:

Q: An investment pays simple interest, and doubles in 13 years. What is the interest rate? Answer =

A: Formula for simple interest is :  I = P×R×T where ,   P = Principal  Amount  R = Annual rate of…

Q: You deposit $500 each month for 15 years into an account earning 6% interest compounded monthly.…

A:

Q: You deposit $400 in an account earning 7% interest compounded annually. How much will you have in…

A: Given  Principal P=400 Rate of interest r=7% year t=10 number of compounded n=1 we know that…

Q: You want to have a $ 93,477 college fund in 10 years.  How much will you have to deposit now in an…

A: Given Data: The expected accumulated balance after 10 years is: A=93477 $ The interest rate is:…

Q: You deposit $3000 each year into an account earning 4% interest compounded annually. How much will…

A:

Q: You deposit $100 each month into an account earning 2% interest compounded month a) How much will…

A:

Q: You deposit $4000 each year into an account earning 7% interest compounded annually. How much will…

A:

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: We know that Simple interest = PTR/100 Here Time is 7 years and Rate is 6%  Amount is 20000$. Amount…

Q: You owe $17,000 on student loans at an interest rate of 3.5% compounded monthly. You want to pay off…

A: This question is related to principal, amount ,and loan . Solve in step 2.

Q: You deposit $600 in an account earning 6% interest compounded annually. How much will you have in…

A:

Q: You deposit $1,000.00 in an account earning 5.74% interest compounded weekly. How much will you have…

A:

Q: You deposit $1,000.00 each year into an account earning 5% interest compounded annually. How much…

A:

Q: How much would you need to deposit in an account each month in order to have $50,000 in the account…

A:

Q: You would like to have $500,000 when you retire in 40 years. How much should you invest each quarter…

A: According to question Final amount = A = $ 500,000 Time = t = 40 years Compounded quarterly implies…

Q: How much would you need to deposit in an account each month in order to have $20,000 in the account…

A: Given: The required amount in future is $20,000. The interest rate is 2%. The time duration is 8…

Q: How much money can you afford for a loan if you know you are going to pay $80 each month for 19…

A: The formula to calculate the equal monthly installments (EMI) that is the equal monthly installment…

Q: You deposit $500 each month into an account earning 3% interest compounded monthly. How much will…

A:

Q: You deposit $300 in an account earning 7% interest compounded annually. How much will you have in…

A:

Q: You would like to have $500,000 when you retire in 35 years. How much should you invest each quarter…

A: We will find out the required values.

Q: How much would you need to deposit in an account each month in order to have $40,000 in the account…

A:

Q: You deposit $300 each month into an account earning 6% interest compounded monthly. How much money…

A:

Q: You deposit $4000 each year into an account earning 7% interest compounded annually. How much will…

A:

Q: will

A:

Q: You deposit $300 in an account earning 5% interest compounded annually. How much will you have in…

A: Here,  P= 300$ i = 5% = 0.05 n= 20 years

Q: You would like to have $950,000 when you retire in 40 years. How much should you invest each quarter…

A:

Q: You deposit $1,500 in an account at the Lifelong Trust Savings and Loan that pays 6% per year…

A: We have PV=$1500         , Present Valuer    =6                , Rate of interestm  =4…

Q: Suppose you want to have $600,000 for retirement in 25 years. Your account earns 10% interest…

A: We will find out the required values.

Q: 1.Martha invest $8500 at an annual rate of 5% compounded quarterly per year. How much money will she…

A:

Q: You deposit $3000 in an account earning 4% interest compounded monthly. How much will you have in…

A: Here we can use formula to get required account status

Q: You deposit $4000 in an account earning 3% interest compounded monthly. How much will you have in…

A: