if jake deposit $5000 at the end of the year for 15 years in an account paying 6% interest compounded annually, find the amount he will have after 15 Years

Q: Suppose you put a $1000 in a college fund that pays 7.2% interest compounded annually. Find the…

A: In the given problem, The principle amount is p = $1000 The rate of interest is r = 7.2% And, the…

Q: By the condition of a will, the sum of P25, 000 is left to be held in trust by her guardian until it…

A: The compound interest is given by:

Q: suppose that at age 25, you decide to save for retirement by depositing $95 at the end of every…

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Q: If $2,200 is deposited at the end of each month in an account that earns 6% compounded monthly,…

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Q: If $6000 is deposited at the end of each half year in an account that earns 6.8% compounded…

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Q: John and Rosamond Want to retire in six years and can save $190 every three months. They plan to…

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Q: A graduate gets a good job and decides to save $200 per month into a 401K fund on payday, the last…

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Q: How much money will be in your account three years after the previous deposit? If you make six…

A: The given data is: P=$2000 r=10%t=3 years Given that compounded semi-annually, therefore Interest…

Q: An item will need replacing in 6 years from now at a cost of P128,000.00. How much should the owner…

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Q: Suppose you deposit $1000 in a college fund that pays 7.2% interest compounded annually. Find the…

A: Suppose you deposit $1000 in a college fund that pays 7.2% interest compound annual. Find the…

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: If you deposit $300 now in a savings account and increase your deposits by 10% each month, how much…

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Q: If you invest $150 each month into an account earning 3% compounded monthly, how long will it take…

A: Here the required formula is given by,                                 A=d1+rnnt-1rn           ...…

Q: If you were to invest $800 at 8% interest compounded annually or each year, what would be your…

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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: If $3500 is deposited at the end of each quarter in an account that earns 3% compounded quarterly,…

A: Lets use the final value formula, FV=P{[1 + R]N - 1/ R}=FV OF $1 PER PERIOD. Given, FV = 60,000 P =…

Q: Matilda and Horace open a retirement account with $120,000. How many years will it take for the…

A: Find the time taken for the amount $120,000 to grow to $800,000 if it grows at a rate of 4.5%…

Q: Find the balance if $30000 is invested in an account paying 4.5 % interest compounded semi-annually…

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Q: Robin wishes to accumulate a sum of $450,000 in a retirement account by the time of her retirement…

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Q: If $23,000.00 is invested in an account for 30 years. Find the value of the investment at the end of…

A: Solution: From the given information, invested amount is $26,000, interest rate is 7%, compounded…

Q: An investment company pays 4% compounded semi annually. Do you want to have 24,000 in the future.…

A: Given values:

Q: If $4000 is deposited at the end of each half year in an account that earns 6.2% compounded…

A: Given that, If $4000 is deposited at the end of each half-year in an account The rate of interest is…

Q: At the time of her grandson's birth, a grandmother deposits $13,000 in an account that pays 3.5%…

A: a) Grandmother deposits (P) is $13,000. Interest rate is, 3.5%. That is r = 3.5/100 = 0.035. Number…

Q: If $19,000.00 is invested in an account for 30 years.. Find the value of the investment at the end…

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Q: The winner of a "million dollar" lottery is to receive $50,000 plus $50,000 at the end of each year…

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Q: an

A: Given that : Accounting pay = 7% In-order to calculate the future value factor formula = (1 +…

Q: young man is the beneficiary of a trust fund established for him 21 years ago at his birth. If the…

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Q: A. Ciara deposits $300.00 every quarter into an account earning 3% interest compounded quarterly.…

A: The formula to calculate the maturity amount, M is M=P×1+rnt…

Q: If $6000 is deposited at the end of each half year in an account that earns 6.7% compounded…

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Q: Find the balance if $23000 is invested in an account paying 6 % interest compounded quarterly for 11…

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Q: If the interest on an account is compounded monthly for 5 years, how many total times will it be…

A: Given that interest is compounded monthly. Then, for one year it is compounded 12 times. Number of…

Q: If $1500 is deposited at the end of each quarter in an account that earns 4% compounded quarterly,…

A: Given: PMT= quarterly deposits =$1500 Interest rate per year =4% i=IY=4%4=1%per quarter Future value…

Q: You just deposited $5,000 in a bank account that pays a 12% nominal interest rate, compounded…

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Q: The payment of 500 php is to be made at the end of every 6 months. How much is its future value…

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Q: Find the final amount of money in an account if $4,500 is deposited at 2.5% interest compounded…

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Q: If it takes 12 years and 5 months to double your money (compounded quarterly), how long would it…

A: To determine the time t it will take for the investment to double.

Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: Given:  P=$1,000,000r=6.7%=0.067n=2t=12 year To determine: The amount that can be withdrawn from…

Q: If $2500 is deposited at the end of each quarter in an account that earns 5% compounded quarterly,…

A: Given: The amount $2500 is deposited at the end of each quarter in an account that earns 5%…

Q: If $4500 is deposited at the end of each quarter in an account that earns 5% compounded quarterly,…

A: Given: Money deposited at the end of each quarter= 4500$ Rate at which interest is compounded…

Q: How much should be deposited now in order to have $45,000 in 8 years, if the account earns 6.57%…

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Q: Find the final amount of money in an account if $3,900is deposited at 7.5% interest compounded…

A: Given: It is given that the deposited money is $3900 at 7.5% interest compounded semiannually. To…

Q: A Family is saving up for a house payment. If they deposit $400 each month into an account that pays…

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Q: If $9000 is deposited at the end of each half year in an account that earns 6.1% compounded…

A: Given Data - Deposited amount (R) = $9000 Amount of annuity (S) = $200,000 Rate of interest ( i )…

Q: A young, investing-savvy artist plans to retire in 30 years and is planning to save $1,000 every…

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Q: A family is saving up for a house payment. If they deposit $400 each month into an account that pays…

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Q: If a bank pays 16% compounded quarterly, how much should be deposited now to have $1200 in 6 years…

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Q: If $6000 is deposited at the end of each half year in an account that earns 6.3% compounded…

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Q: Find the future value if $6000 is invested for 10 years at 7% compounded annually. (Round your…

A: The invested amount is $6000 for 10 years at 7% compounded annually.

Q: Find the future value if $3000 is invested for 5 years at 8% compounded annually.

A: Consider the formula to find the future value FV=PV1+iffn where PV is the present value, i is the…