Suppose you deposit $1000 in an account that earns 7% interest compounded annually. What will the balance be after the 8th year? To the nearest cent.

Q: If you deposit $4500 at 5% annual interest compounded quarterly, how much m oney will be in the…

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Q: A grandparent puts $4,000 into a college education fund for a grandchild. If the fund earns 2.75%…

A: total amount = P(1+r/100)n here r = 2.75/365 = 0.007534 n = 365*18 = 6570 total amount = 4000(1+…

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: Pesse Jinkman, a chemistry student at PCC, will be depositing $15,000 at the end of every quarter…

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Q: Manhattan Island is said to have been bought from the Indians by Peter Minuit in 1626 for 24…

A: we have to find the compound interest annually with the given formula A(t)=P1+RNNT Where, A = Amount…

Q: If $4500 is deposited at the end of each quarter in an account that earns 8% compounded quarterly,…

A:

Q: Parents wish to have $160,000 available for a child's education. If the child is now 10 years old,…

A: The formula for the future value is given by FV=PV1+rnnt  where PV is the present value, r is the…

Q: Jaspreet set up a fund that would pay his family $4,500 at the beginning of every month, in…

A: We can evaluate the following as follows

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: If you save $270 per quarter for retirement in an account that earns 8% interest per year compounded…

A: Given; Saving $270 per quater Rate of interest = 8% Compounded quaterly, n=4 Number of years=…

Q: If a savings fund pays interest at a rate of 6% per year compounded semiannually, how much money…

A:

Q: Robin, who is self employed, contributes $6500/year into a Keough account. How much will he have in…

A: Principal, P = $6500 per year Time, n = 35 years Rate of Interest, R = 6.5% per year = 0.065

Q: You deposit $2000 at the beginning of each year into an account earning 4% interest compounded…

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Q: How much will you need to invest today in an account paying 7% compounding quarterly to have $10,000…

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Q: 5. If you deposited $1500 into an account that paid 2% interest, compounded monthly, what would be…

A: Please refer to the image below

Q: If a savings fund pays interest at a rate of 2% per year compounded semiannually, how much money…

A: The amount to be invested is calculated using the formula,

Q: If you placed $1 into an account that paid interest at a rate of 6% and compounded the interest…

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Q: Sumi Kato's savings account has a balance of $1,596. After 21 years what will the amount of interest…

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

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Q: Find the final amount of money in an account if $6,600 is deposited at 6% interest compounded…

A: Given: An amount of $6,600 is deposited at 6% interest compounded annually and the money is left for…

Q: Find the final amount of money in an account if $2,000 is deposited at 8% interest compounded…

A: Given

Q: You deposit $4,000.00 each year into an account earning 2% interest compounded annually. How much…

A:

Q: A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=300 r=9%=0.09 t=4 years…

Q: Steve decided to deposit $3,285 into a savings account with 4.5% interest, compounded quarterly.…

A: Here we have to find how much money Steve have after 4 years in his account. The details calculation…

Q: If you deposit P4000 into an account: paying 6% annual interest compounded quarterly, how much money…

A: Compound interest

Q: If $15,000 is invested at 6% compounded quarterly, what is the amount after 5 years? The amount…

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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 employee wants to retire and receive 5 000 a month. She wants to pass this monthly payment to…

A: The provided information is  A=5000 i=8%=0.08 The the formula for perpetuity is  P=AiA=the interest…

Q: If a savings fund pays interest at a rate of 3% per year compounded semiannually, how much money…

A: Compound interest is a form increments in the savings where each increment is added regularly to the…

Q: How much will you have after 25 years if you put $2000 per month in the account that instead earns…

A: The solution is given below:

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: At the birth of their child, how much should a couple invest to have $20,000 on the child's 18-th…

A: The principal investment required to get a total amount of $20,000.00 from compound interest at a…

Q: An insurance settlement of $1 million must replace Trixie Eden's income for the next 40 years. What…

A: Consider the given: Presentvalue=$1millionTime=40yearsInterest=7.4%=0.074 As, we know that:…

Q: The winner of a "million dollar" lottery is to receive $30,000 plus $30,000 at the end of each year…

A:

Q: Erin has $250,000 saved for retirement in an account earning 3.4% interest, compounded quarterly.…

A:

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: Suppose $250,000 is used to establish an annuity that earns 5%, compounded quarterly, and pays $4500…

A: P = 250000 r = 0.05/4=0.0125 PMT = 4500

Q: If $4500 is deposited at the end of each quarter in an account that earns 7% compounded quarterly,…

A:

Q: Suppose you deposit $4000 in a CD paying 5% interest, compounded monthly. How much will you have in…

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Q: If a bank pays 18% compounded monthly, how much should be deposited now to have $2000 : a) 6 years…

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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 $2,000 is invested for 5 years at 8% compounded quarterly, how much interest (in $) will be…

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Q: a) How much would need to deposit in an account now in order to have $6000 in the account in 10…

A:

Q: You deposit $4000 in a bank with annual interest rate of 3.5% compounded monthly. What would your…

A: Here, P=$4000, n=1, r=0.035, and t=20.

Q: Suppose $200,000 is used to establish an annuity that earns 4%, compounded quarterly, and pays $6500…

A:

Q: unt that

A: In this question, the concept of Compound Interest is applied. Compound Interest Compound interest…

Q: The winner of a "million dollar" lottery is to receive $70,000 plus $70,000 at the end of each year…

A: Use formula of compound interest to calculate future value

Q: How much should you invest into an account with 3.2% interest compounded quarterly if you want to…

A: According to the question, we have the data set: Interest rate= 3.2 % = 0.032  n= 4 (amount is…

Q: If we invest $4,000.00 in an investment accoint with a 3% APR interest rate, compounded monthly, how…

A: here we have  P=4000 r=3%=0.03 n=12 for monthly compound  t=6 years

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.