Joe invests $9500 in an account earning interest compounded quarterly. Determine the rate if there was $12580 in the account 10 years later.

Q: Dylan deposits $10,000 now and makes an additional deposit of $5,000 at the end of Year 3 in the…

A: Interest charged on the principal amount and the interest accrued is known as Compound Interest. It…

Q: Maria took out a loan for $7900 that charges an annual interest rate of 8.8% compounded quarterly.…

A: n=4 r=8.8/4/100=0.022 present value=7900

Q: vince has just opened an 18-month certificate of deposit on which interest compounds daily. he…

A: Certificate of deposit refers to a savings account that pays a fixed rate of interest for a definite…

Q: Morgan invested $1700 for four years compounded semi annually. If the future value of the investment…

A: Data given: PV= $1700 n=4 years  rate=? (compounded semi-annually) FV=$2195.68   Required: Annual…

Q: Roger just deposited $12,000 into his account at Market Place Bank. The bank will pay 3.2 percent…

A: in this we have to find out simple interest and compounding interest and than find out interest on…

Q: Jasmine deposited $900 at the end of every month into an RRSP for 7 years. The interest rate earned…

A: Monthly deposit: $900Number of years: 7Interest rate with semi-annual compounding for 5 years:…

Q: Roscoe signs a note for $2000 due in 18 months at 15% monthly. After five months, Gertrude sells it…

A: The present value would be considered as the value of the future value which is being received…

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: Karina invests X at the end of each year into an account which earns an annual effective interest…

A:

Q: Antonio borrows $3,358 from the bank for 4 years at an annual interest rate of 7.08% compounded…

A: Variables in the question:PV= $3358N=4 yearsRate=7.08% (compounded quarterly)

Q: Ashton invested $8450 for five years in his savings account that was earning 3.2% compounded…

A: To calculate the future value we will use the below formula   Future value = P*(1+r)n Where Invested…

Q: Dave borrowed $1,300 on January 1, 2022. The bank charged him a $5.00 service charge, and interest…

A: When a borrower takes out a loan from a lender, they are required to pay interest on the borrowed…

Q: Four years ago, XZY deposited $2,920 in an account that has earned and will earn 8.70 percent per…

A: Under the compounded interest rate, the base amount on which the interest is earned increases every…

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: Interest for the first 10 years is credited at a nominal discount rate of d compounded semi -…

A: This is a problem involving the application of present and future value of cashflows. The future…

Q: open an annuity with $5,200.00 and makes monthly payments of $270.00 paid at the end of each month…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: Marcus deposits $2600 into an account that has an annual interest rate of 5% compounded monthly. If…

A: Deposit is 42,600Annual Interest Rate (r) is 5%Compounding Period (m) is Monthly i.e 12Time Period…

Q: red decides to invest $1000 into an account which earns a floating interest rate. For the first…

A: Future value of the amount is the amount that is being deposited and amount of interest accumulated…

Q: Mr. Al Khasim deposited OMR 20,000 in a bank which offers a compound annual interest of 6%. How long…

A: Compound interest is one of the form of interest under which interest is charged on both principal…

Q: Derek will deposit $2,713.00 per year for 16.00 years into an account that earns 10.00 %, The first…

A: Annual deposit=PMT=2713NPER=n=16yearsRate=r=10%PV=today value=$14955How much at the end of 50 years.

Q: Caesar is paid monthly and deposits $300 each pay period into a savings account. Money invested in…

A: Variables in the question:PMT=Monthly deposit=$300Rate=4% (compounded monthly)N=7 yearsWorking…

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: John invests $ 350 on the last day of each month into an account for 4 years compounding monthly at…

A: Monthly investment = $350Interest rate = 7.5%Total number of years = 7 yearsNumber of years of…

Q: Peter deposits $75 at the end of each quarter for 15 years into an account that pays 3.14%…

A: Given data; payment amount= $75 number of years = 15 annual rate = 3.14% compounding frequency = 4…

Q: Mrs. Kimberly deposited P 300, 000 in an account earning 8% compounded every 6 months. On the 2th…

A: Compound interest: Compound interest denotes an interest computed on the total initial deposits and…

Q: Adriana Grandioso has made beginning-of-year deposits into an investment account for the past 21…

A: FV is the future worth of cash flows that have occurred in the past or present.

Q: Shiro’s grandfather has just announced that he’s opened a saving account for Shiro with a deposit of…

A:

Q: Frank invests $ 4500 dollars into an account earning interest compounded quarterly. After 10 years…

A: given, pv = $4500 fv = $5600 n =10 years m =4 (quarterly compounding)

Q: Mariano deposited P5,000 today in an account that pays 8% compounded semi-annually. Two  years…

A: Amount at the end of n periods at i% rate of interest can be calculated as: = Principal * (1+i)^n

Q: Anna places $384 each quarter into an account that earns. If the account earns 1.41% interest…

A: Given data; Quarterly payment = $384 interest rate = 1.41% number of years = 7 Compounding frequency…

Q: Ahmad earned $475 last summer. He deposited this money in an account that pays an interest rate of…

A: Future value = Present value * (1+rate)^n Where, n = no. of compounding period i.e. 15

Q: Appa deposits $2500 in an account earning 4.9% interest compounded monthly. How much will Ap in the…

A: As the compounding increases the more is effective interest rate and more is the accumulation of…

Q: Shelly deposits the $2000 she got as a birthday gift from her grandmother into an account earning…

A: The company would be considering the value for future through the compounding of interest rates over…

Q: rek deposited $700 at the end of every month into an RRSP for 7 years. The interest rate earned was…

A: Compound interest is a financial concept in which the interest generated on an initial sum of money,…