Suppose you found a CD that pays 4.9% interest compounded monthly for 3 years. f you deposit $11,000 now, how much will you have in the account in 3 years? (Round to the nearest cent. $ What was the interest earned? (Round to the nearest cent.) Now suppose that you would like to have $20,000 in the account in 3 years. How much would you need to deposit now? (Round to the nearest cent.)

Q: you deposit $4000 in an account that pays 7% interest compounded semiannually. After 3 years,…

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Q: Suppose a man borrowed $300 from a friend and agreed to pay him 20% annual simple interest when he…

A: so given a man borrowed $300 from a friend and agreed to pay him 20% annual simple interest when he…

Q: Caroline wants to have $10,000 in 5 years after investing in an account that earns 7.3% compounded…

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Q: How long will it take for $3000 to grow to $43000 at an interest rate of 8.1%. if the interest is…

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Q: For 8 years, $33 is deposited each week into an account that earns 2.1% interest, compounded weekly…

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Q: Gilberto opened a savings account for his daughter and deposited $700 on the day she was born. Each…

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Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: Melanie places $5,000 into an account that earns 6% interest compounded daily. Approximately six…

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Q: You deposit $2000 in an account earning 2% interest compounded monthly. How much will you have in…

A: given, principal (P)=$2000           interest  rate (R)=2%= 2/100 =0.02     (for compounded monthly…

Q: if I invest 1000 at 2% interest how long will it take to double my money

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Q: Sue to make $2000 interest if she invests 10,000 in an account that offers 4% p.a. ?

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Q: 5000

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Q: If you start working with a savings account with a $.25 in it and your boss double it each day for 3…

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Q: Suppose you decide to give up your weekly trip to Amy’s ice cream and instead deposit the $12 you…

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Q: We put $500 in an account earning interest compounded continously. What interest rate do we need if…

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Q: A student wishes to invest $500 in a savings account yielding 3% annual interest compounded every 6…

A: Compound interest formula needs to be applied.

Q: The present value of $1500 in 6 months at 5% simple interest rate is Round answer to the nearest…

A: As per the concept of simple interest:FV=PV×(1+Rt)          Equation 1HereFV is the future value of…

Q: You have $10,000 that you are considering whether to invest . If you invest it in an account that…

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Q: Bob makes his first $600 deposit into an IRA earning 7.2% compounded annually on his 24th birthday…

A: Consider the case where deposits are made, Periodic deposit amount R is $600. he makes a total 20…

Q: If you want to earn 15% annual simple interest on an investment how much should you pay for a note…

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Q: A man wants to buy a $33,000 car. He will put 20 % down and finance the rest over 4 years. How much…

A: Cost of car = 33,000 Down payment = 6,600 Loan amount = 26,400 Here P (principal amount)=26,400 R=…