Your grandma invested some money 64 years ago into an account earning 1.82% per year, compounded quarterly.  She now has $18474 in her account Round to the penny.   How much money did your grandam invest 64 years ago? $          2.How much interest did she earn on the investment? $

Q: Bing gave $800 to her cousin. As a token of gratitude, her cousin gave her $1, 520 at the end of the…

A: Details given are : Present value = $800 Future value = $1520 Time period = 1 year From above…

Q: Twelve years ago, Pat and Mike took out a $115,000 loan for 30 years at 9.3% interest. Their monthly…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: Two years ago, Christopher invested $1,530.00. He has earned and will earn compound interest of 8.06…

A: Compound interest refers to the method of calculation of the interest earned on an investment where…

Q: our grandmother left you an inheritance that pays $440 at the end of each year for a total of 12…

A: Annual Payment = p = $440Number of payment = n = 12Time until First Payment = t = 5Interest Rate = r…

Q: A rich man deposits money at a bank with 8.66% interest compounded annually 13 years ago. After…

A: This question can be solved by applying the concept of time value of money. The concept of time…

Q: Starting on the day Thomas was born, his mother has invested $50 at the beginning of every month in…

A: Future value:The future value of payments represents the accumulated value of periodic investments…

Q: Ali invested 5000 Rials in a saving account that paid quarterly interest. After 6 years the money…

A: Solution: Calculating interest rate using future value and present value.

Q: Assume your uncle died one year ago and had left you the money in his saving account at that date.…

A: Amount Deposited 16 years back = PKR 550,000 Years(n) = 16 Interest Rate (r) = 13%

Q: A rich man deposits money at a bank with 11.28% interest compounded annually 5 years ago. After…

A: Total money received can be obtained by multiplying the total monthly payment multiplied by number…

Q: Fifteen years ago, you deposited $15,400 into an account. Eight years ago, you added an additional…

A: Deposited $15400 15 years ago. Deposited $6000 8 years ago Interest for First 7 years is 10 %…

Q: Joshua is saving up to buy a house. He invested $10000 at 3.5% per year, compounded quarterly. He…

A: Future Value: The future value is the amount that will be received at the end of a certain period.…

Q: 4-4 Staci invested $950 five years ago. Her investment paid 7.2 percent interest compounded monthly.…

A: a) Present value (PV) of the investment = $950 Monthly interest ( r) = 7.2%/12 Number of months of…

Q: dward made his investment, Sarah also inv ear compounded annually. One year after t O They both will…

A: Simple interest : Compound interest is the interest calculated on the principal and the interest…

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

A: Calculation of Simple Interest The purpose to provide the interest for the loan is repayment with…

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: "Gabriella bought a house for $997,000 and paid $179,000 as a down payment. If the interest rate is…

A: The question is based on the concept of Financial Management. Total cost of the house = Down payment…

Q: Thirty years ago, your parents opened an investment account with a single deposit of $2,000. They…

A: Investment amount (P) = $2000 Period (n) = 30 Years Accumulated amount (F) = $26,905

Q: my Jolly deposited $2 000 in a savings account.  The annual rate is 10 per cent   compounded…

A: The future value of money includes the money deposited and interest accumulated over the period of…

Q: Five years ago, Teresa purchased an investment property for $189,795.  He sold it today for…

A: Annualized rate of return is calculated using following equation Annualized rate of return = Ending…

Q: Your sister just deposited $11,500 into an investment account. She believes that she will earn an…

A: The current worth that would be same as the amount saved by the sister in seven years at 10% can be…

Q: Jim invests $15,000 today into an account, If the amount in the account accumulates to $17,364.37 at…

A: The rate of interest can be computed with the help of future value function.

Q: Anya deposited $241 at the end of every month for 8 years into her bank account that earned 3.02%…

A: The future value of the deposit is calculated using following equation Future value =…

Q: Sonny, who invested P15,500 had P19,900 returned to him 4 years and 4 months later. At what rate of…

A: Time Value of Money :— According to this concept, value of money in present day is greater than the…

Q: cecilia invested $5000 in an account four years ago. Today her account has a balance of $6200. Given…

A: Present value=$5000Future value=$6200Period= 4 yearsPeriod= 16 quarters

Q: Twelve years ago, you deposited RM3,400 into an account. Seven years ago, you added an additional…

A: FV = PV* (1 + r / n)nt Where, PV = Present value FV = Future value r = Rate of interest (percentage…

Q: Judy recently purchased her first home for $220,000. She made a down payment of $20,000, and…

A: First we need to calculate PV annuity factor for loan to calculate monthly payment. Since payment is…

Q: A grandmother opens an investment account for her only granddaughter on the day she was born,…

A: The FV of an investment refers to the combined value of the cash flows at a particular future date…

Q: Mr. Chua invest 45,000 into two different accounts which pay 7% and 8% annual interest. If he earned…

A: solution  the rate of interest = 7% and 8% total amount invested =45000 we need to find out the…

Q: Two years ago my daughter was born. On the day she was born I put $4000 into an account for her. The…

A: Future worth is the worth of current amount at some future specified date considering compounding…

Q: Your grandmother invested $1,000 for you the day you were born. How much will this investment be…

A: Data given: Principal (PV)=$1000 n=30 years Rate= 6% (compounded quarterly)   Required: FV of this…

Q: Michelle Payne deposited $24,000 in a savings account paying 6.25% simple interest. How long (in…

A: Formula: FV=PV×1+rt

Q: How much money was withdrawn from Mr. Cruz’s account on the 5th year, after investing P25, 000 on a…

A: The amount which is paid by bank on deposit is known as interest. This interest is credited to the…

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: Eve is 20 years old and wants to save $2 million for retirement at age 60. Assume she invests in a…

A: A study that proves that the 1value of money today is higher than the future value of money is term…

Q: Michelle Payne deposited $16,000 in a savings account paying 6.25% simple interest. How long (in…

A: Calculation of Time Period of Deposited Amount Simple Interest Formula  A = p (1 + rt) Here A =…

Q: Karen White deposited $3,800 today in an account paying 6 percent interest annually. (If you solve…

A: Simple interest rate and compounding interest rate are the different types of interest rates. Simple…

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: Two years ago, Kevin invested $9,400.00. Today, he has $10,800.00. If Kevin earns the same annual…

A: The FV of an investment refers to the cumulative value of its cash flows at a future date assuming…

Q: Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Frank invests $ 2500 dollars into an account earning interest compounded quarterly. After 13 years…

A: Future Value = Present Value * (1+r)^n Where, r =rate per period n = no. of compounding period i.e.…

Q: Suppose 27 years ago your father deposited $ 27992 in an account earning 9%. Every year you withdrew…

A: Amount in the account, 27 years ago = P = $ 27,992Period, T = 27 yearsAnnuity withdrawn at the end…

Q: Imagine that Homer Simpson actually invested the ​$120,000 he earned providing Mr. Burns…

A: Future Value:The future value is the amount that will be received at the end of a certain period. In…