Jimmette currently has savings in the amount of $46627 in an account that earns 5.9% compounded monthly.  How many quarterly withdrawals in the full amount of $1053 can Jimmette take from the account before her savings are exhausted?

Q: Alice has a balance of $19.000 on her credit card. The card carries a 22.00% annual rate of…

A: Monthly payment refers to the function of time, the value of money used for calculating the amount…

Q: Brendan has $96,400 in a savings account that earns 3% annually. The interest is not compounded. How…

A: Present Value = p = $96,400Interest rate = r = 3%Time = t = 3 / 12 = 0.25 years

Q: Derek currently has S12, 511.00 in an account that pays 6.00%. He will withdraw S5, 050.00 every…

A: Future value (FV) is a financial concept that projects the anticipated value of an investment or…

Q: At retirement, Maria's saving account has $620,000 in it and is earning 1.2% compounded monthly.…

A: The present value is the value of the sum received at time 0 or the current period. It is the value…

Q: Peter has saved $350 per month for the last 4 years in savings account earning 5.1% compounded…

A: Monthly Payment = p = $350Number of Monthly Payment = n = 4 * 12 = 48Interest rate of monthly…

Q: Kathy's bank account earns interest at a nominal annual interest rate = 5% compounded semi-anually.…

A: Present value is an estimate of the present value of future cash values ​​that may be received at a…

Q: Dive has a savings of P300000 in her savings account. She invested 20% of it in a milktea business…

A: The future value is the future worth of the payment that will be paid or received in the future.

Q: Jules deposits $70 each month into a 401(k) savings account paying 3.59% annually, and her employer…

A: We know the quantum of funds invested into an account and the accumulated value. We have to find the…

Q: Joe invests $5550 in an account earning 8.1% interest, compounded monthly. How long will it take for…

A: Initial investment (I) = $5550 Future value (FV) = $20345 Monthly interest rate (r) = 0.00675 (i.e.…

Q: One month from​ now, Kelly will make her first monthly contribution of ​$250 to a​ Tax-Free…

A: Future value = $55,000Interest rate = 7% compounded annuallyMonthly contributions = $250

Q: Casey deposits $465 into a savings account earning s 3.05% simple interest. How much interest will…

A: The question is based on the concept of Simple interest

Q: Sam has $6,596.43 in her bank account. Sam wants to know how much per month she must contribute to…

A: We need to rearrange formula below and solve for PMT (periodic payment). In the formula below:FV =…

Q: Clara borrows $41,000 today at 2.9% per year compounded quarterly, to start her own buisness. she…

A: In this question we need to compute the Clara's quarterly payments from following details: Loan…

Q: Claudia intends to accumulate $35,000, so 6 months earlier she opens an account with $7,500, earning…

A: Simple interest = Principal * interest * time Amount = Principal + simple interest Amount =…

Q: Firms A, B, C, and D enter into a financial arrangement. Money flush firm A will pay expanding firms…

A: Year Firm A 0 -2,000,000.00 6 3,300,000.00   Year Firm B 0 1,000,000.00 2 900,000.00…

Q: Carol borrows $27,663 to help pay for expenses. The loan is for 7 years and carries an annual rate…

A: Amortization is a financial concept that refers to the gradual repayment of a debt, typically…

Q: Kerry invests $234 in a savings account that earns 2.1% compounded annually. Andy invests $234 in a…

A: Formulas: Future value = Present value *(1+rate)^years

Q: Hannah places $ 3500 into an account earning 8.75% interest compounded continuously, how much will…

A: GIVEN, PV = $3500 R=8.75% T=7 YEARS

Q: Diane invested $4500 in an account that pays an annual interest rate of 3.7%, compounded monthly.…

A: Amount in the account after one year= $ 4669.35 Effective rate of interest = 3.76%

Q: Whitney deposited $200,000 into a savings account that has an annual interest rate of 8% compunded…

A: Interest is an extra amount which is received or paid on deposited or borrowed amount for the…

Q: annual

A: Introduction: The effective rate can be defined as the usage rate which a borrower would use to pay…

Q: How much should Manvir have in a savings account that is earning 3.50% compounded semi-annually, if…

A: Present value of an investment is the sum total value of all deposits in today's period that are…

Q: Tracey placed $4,500 in an account that accrues simple interest of 6.25%.  How much will she have at…

A: Simple Interest method of calculation is one in which the interest accumulated does not earn…

Q: Isabelle makes deposits of $365 monthly (at the end of each month) into an account that pays 1.5%…

A: Annuity refers to series of equalized payments that are either made at start or end of specific…

Q: In 20 years, Hannah would like to have $30,000 in an account that earns 4.2% compounded monthly. How…

A: In the given question we need to compute the Deposit today so that Hannah will have $30000 at the…

Q: Kim invests $6050 in an account earning 6.54% interest, compounded weekly. How long will it take for…

A: The amount that a present investment will gain in value over time when kept in a compound interest…

Q: Kaye deposited $8,500 into a savings account today. For how long can $600 be withdrawn from the…

A:

Q: Kaye deposited $5,000 into a savings account today. For how long can $440 be withdrawn from the…

A: Monthly payment refers to an amount that is paid at every period for the repayment of a loan amount…

Q: Anya deposited $241 at the end of every month for 8 years into her bank account that earned 3.02%…

A: The future value of the deposit is calculated using following equation Future value =…

Q: cecilia invested $5000 in an account four years ago. Today her account has a balance of $6200. Given…

A: Present value=$5000Future value=$6200Period= 4 yearsPeriod= 16 quarters

Q: Alexandria has $400,000 saved for retirement in an account earning 2.45% interest, compounded…

A: Solution:- When an equal amount is withdrawn each period, it is called annuity. We know, present…

Q: eter has saved $510 per month for the last years in savings account earning 4.2% ompounded…

A: The future value of the money includes the deposit made and compound interest earned and this money…

Q: Tabatha has saved $85, 700.00. If she decides to withdraw $2,726.00 at the beginning of every month…

A: The present value of an annuity is the current worth of a series of cash flows at a certain rate of…

Q: Noah has $4686 in his savings account today. The interest rate is 8,3% p.a. compounded monthly. Noah…

A: Loan amortization refers to the process of gradually paying off a loan through regular installment…

Q: Blake Hamilton has money in a savings account that earns an annual interest rate of 3%, compounded…

A: APY stands for Annual Percentage Yield. It is a measure of the total amount of interest earned on a…

Q: Heidi deposits $8,000 in a savings account that earns 4.5% interest, compounded quarterly. How much…

A: Amount she will have is future value of deposit

Q: Cheska is saving for her dream cellphone. She deposits 2,000 pesos at the end of each month that…

A: Future Value refers to value of any current amount or flow of recurring payments at some future date…