You have $3,500 in a money market account that earns 3.00 percent interest. The inflation rate was 2.80 percent, what was the real rate of return?

Q: Between 2005 and 2009, Russia's average rate of inflation has been 11.4% per year. If a cart of…

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Q: John got $5000  from his grandmother to pay her tuition fee.He invested this amount at a 10% rate of…

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Q: Noah invests $3,600 for two years.   The account pays 0.43% monthly compound interest. To the…

A: Given the given invest=$3,600 Interest rate=0.43%(compounded monthly) Time=2 years Apply formula…

Q: You decide to save for a car costing $1200 (You are a big spender). You want to make deposits for 24…

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Q: Karl purchased a head, phone and charged it to his credit card. To discharge this debt, he must pay…

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Q: What annual interest rate is earned by a 12-week T-bill with a maturity value of $1,900 that sells…

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Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: A bank account uses simple interest. If 10,000 is deposited at a rate of 4% interest, how much money…

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Q: Morgan loaned $3,100 to Rolf at a simple interest rate of 0.65% per month. What was the  term of the…

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Q: At a 5 % annual interest rate, a principal of $2,000 earns $ 400. How long was the principal…

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Q: A new truck sells for $48,000. If it depreciates at the rate of 18% per year, how old will it be…

A: The depreciation formula is given by; W=C(1-d100)n where C is the current worth and w is the worth…

Q: The inflation rate in 2011 was 3.23%. Use this rate to find what salary at the end of 2010 would be…

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Q: Jeremy has a credit card with an unpaid balance of $1,210. If he is charged an interest rate of…

A: The objective of this question is to calculate the finance charge for the month on Jeremy's credit…

Q: Bertha invests $10,000 for 8 years which results in an account balance of $24,759.63. What was her…

A: Given Bertha invested $10,000 for 8 years which resulted in an account balance of $24,759.63.

Q: Nancy deposited $950 into an account that pays 5.41% annual interest compounded annually. When she…

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Q: Find the simple interest Jolie owes on a 2-year loan for $8,000 to buy a used car at the rate of 9%…

A: The objective of this question is to calculate the simple interest Jolie owes on a 2-year loan for…

Q: An account invested in a money market fund grew from $24,811.63 to $25,111.51 in a month. What was…

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Q: Hsu-Mei wants to save $3,000 for a down payment on a car. To the nearest dollar, how much will she…

A: Let  be the present value you need to invest in an account.

Q: If you invest $600 into an account that compounds monthly and after 8 years the account has $900.…

A: From the given information, it is observed that P = $600, A = $900, t = 8. Note that, the formula to…

Q: Taylor took out a student loan for $69,000 and agreed to pay it off with monthly payments over 4…

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Q: How long will it take for your initial investment of $4,775 to reach $7,500 if the money is invested…

A: We are given Principal Amount P=$4775,   Total amount (Principal+Interest) A=$7500,   Interest Rate…