the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, the APY for the account. A $6000 deposit in an account with an APR of 3.4%. balance in the account after 1 year is approximately $ and to the nearest cent as needed.)

Q: Kaye deposited $7.000 into a savings account today. For how long can $680 be withdrawn from the…

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Q: .If you deposit 6000RS into an account paying 6.5% annual interest compounded quarterly,  how long…

A: we need to find time when there is Rs12600 in the account

Q: Engr. Armando lends P5,000 at 6% simple interest for 4 years. At the end of this time, he invests…

A: The following solution is given below :

Q: Use compound interest formula to determine value of an account at the end of 7 years if the…

A: To find the value of r and n, divide the rate of interest by 4 and multiply the period by 4,…

Q: Four thousand dollars is deposited in a savings account at 7​% interest compounded quarterly. Find…

A:

Q: Assume that Bob deposited $3,000 per year in a bank account. Since the bank offered a compound…

A: As per the question we are given the principal deposited after each year as $3,000 ; the annual…

Q: A bank pays interest at the rate of 6% per year, compounded monthly. If a person deposits $2500 in a…

A:

Q: Which of the following is the balance for a single $2,484 deposit in an account with an APR of 1.88%…

A: Given initial amount $2,484. Interest rate r=1.88% time t=37 years.

Q: Suppose you deposit $1000 in an account that earns 7% interest compounded annually. What will the…

A:

Q: Question 14 > You would like to have $600,000 when you retire in 35 years. How much should you…

A: You would like to have $600,000 when you retire in 35 years  earn a rate of 5.8% compounded…

Q: how much interest was earned in account 1

A:

Q: Find the accumulated amount after 2 years if $3500 is invested at 2%/year compounded continuously.…

A:

Q: How much would you need to deposit in an account now in order to have $4000 in the account in 5…

A: Given: Rate of interest 6% compounded monthly Amount A =$4000 interest rate r=6%=0.06 n=12 t=5 years…

Q: If $4000 is borrowed at a rate of 6.75% interest per year, compounded quarterly, find the amount due…

A: Topic-compound interest

Q: Find the amount of compound interest earned. 5) $5000 at 6% compounded annually for 3 years

A: Recall the following fact.

Q: Appa deposits $1000 in an account earning 3.8% interest compounded monthly. How much will Appa have…

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Q: A family decide to save some money in an account that pays 9% annual compound interest calculated at…

A:

Q: Find the compound amount for the deposit and the amount of interest earned. $2000 at 2% compounded…

A:

Q: Determine how much time is required for an investment of $5000 to double in value if interest is…

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Q: QUESTION 3. $4500 is deposited for 4.5 years in an account that pays 4.5% interest compounded…

A:

Q: A copy Machine depreciates at the rate of 15% each year. If the original copy of the copy machine…

A: We know, Value after time t years = Initial value × 1+rate100t

Q: A grandparent puts $5,000 into a college education fund for a grandchild. If the fund earns 3.75%…

A: Given that: Principal(P) is $5000. The rate of interest(r) is 3.75%. Time(t) is 16 years and n is…

Q: Find the final amount of money in an account if $6, 300 is deposited at 2 % interest compounded…

A: Compound interest formula for an initial amount P for t years compounded n times a year at an…

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: Find the compound amount for the deposit and the amount of interest earned. $6800 at 5.4% compounded…

A:

Q: If $6,000 is invested at 3% compounded monthly, what is the amount after 9 years? The amount after 9…

A: Invested amount P = $ 6,000               Interest rate  r = 3 %  = 3100 = 0.03…