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: 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: Suppose James will have $25,000.00 for a down payment on a house in 6 years. How much would he have…

A: The question is based on the concept of future value calculation of an investment with a monthly…

Q: On Lorenzo first birthday his parents deposited 7000 into a savings account that earns a fixed rate…

A: Data given: Amount deposited on 1st birthday=$7000  (Assumed currency=$) Rate=4% (compounded…

Q: Hannah places $ 6500 into an account earning 7.75% interest compounded continuously, how much will…

A: Future Value = Present Value * e^rt Where, r =continuously compounded rate of interest i.e. 7.75% t…

Q: Engr. Gundran invested P10,736.98 when his son was 7 years old, P17,515.59 when he turned 8, and…

A: In this we have to find out future value of all.

Q: Roger just deposited $12,000 into his account at Market Place Bank. The bank will pay 3.2 percent…

A: in this we have to find out simple interest and compounding interest and than find out interest on…

Q: Nelly turns 25 today. An investment her grandfather made in her name on the day of her birth is now…

A: Investment period = 25 years Future value = 50,000 Interest rate = 8% compounded quarterly

Q: Joe invests $9500 in an account earning interest compounded quarterly. Determine the rate if there…

A: Individuals invest money in the bank to earn interest. This interest is decided by the government.…

Q: Sam owns the bank some money at 5% per year. After half a year, he paid 15 dollars as interest. HOW…

A: The banks gives the loan to the customers but the charge the interest on the loan and customers have…

Q: If Laura invests $1,230.00 in an account earning 2.95% simple interest, how much money will be her…

A: Simple Interest is the method in which we calculate the interest on a specific principal amount at a…

Q: Fiona invested $2000 at 9% compounded continuously. At the same time, Maria invested $2300 at 9%…

A: Compounding continuously is highest form of compounding and is exponential increase in value of…

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: An heiress receives an income stream from a will at a rate of f(t) = 30,000e0.023 dollars per year.…

A: The concept of time value of money will be used here. As per the concept of time value of money the…

Q: eBook Staci invested $1,200 five (5) years ago. Her investment paid 8.4 percent interest compounded…

A: Future value refers to the value of the current asset that will be present on some future date…

Q: Hannah places $ 3500 into an account earning 8.75% interest compounded continuously, how much will…

A: GIVEN, PV = $3500 R=8.75% T=7 YEARS

Q: Abigail invested $77,000 in an account paying an interest rate of 8\tfrac{3}{8}883​% compounded…

A: The time value of money has two techniques. The compounding and the present value method. The…

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: On your tenth birthday, you received $300 which you invested at 4.5 percent interest, compounded…

A: Initial investment (I) = $300 Interest rate (r) = 0.045 Worth now (AV) = $756 Period taken for $300…

Q: Mark and John started investing at the same time. Mark makes payments of $20 at the end of each week…

A: Future value refers to the value of the investment at a future date. This includes the principal…

Q: Helene invests R5918 in a savings account that pays interest at 6% pa compounded monthly. Exactly 5…

A: Invested amount (X) = R 5918 r = 6% monthly compounded = 0.5% per month for n = 5 years (60 months)…

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: Twenty-two years ago, Victor set aside $5,135 in case of a financial emergency. Today, that account…

A: No of years = nper = 22 yearsInvestment = PV = $5,135Increased value = FV = $18,350

Q: Three years ago, ZYX deposited $2,590 in an account that has earned and will earn 8.60 percent per…

A: P = Initial deposit = $2,590 r = Annual interest rate = 8.60% = 0.086 n = Number of years = 6 The…

Q: Five and a half years ago an individual invested $10000 in a retirement fund that grew at the rate…

A: A theory that helps to compute the present or future value of the cash flows is term as the TVM…

Q: Your grandma invested some money 58 years ago into an account earning 2.5 % per year, compounded…

A: Compound interest is the interest that is calculated not only on the initial principal amount but…

Q: Sara deposited $3000 in an account that earns 5.5% simple interest. How much money will be on…

A: A = P * (1 + rt) A = final amount p = Present value r = Interest rate T…

Q: Mr. Peabody drove to his bank and deposited $500 at the end of every three months for 15.6 years.…

A: Interest rate = 4.95% compounded semi annuallyThe effective annual rate is The quarterly interest…

Q: Isabella placed $5,000 in a savings account which earns 5.3% interest, compounded every year. How…

A: The formula used as follows: A=P×1+rn

Q: Elena purchased a stamp collection for $8,250 five years ago. If it appreciated 7.4% annually, what…

A: Future value refers to the accumulated value of an investment compounded at the specified rate of…

Q: Ben invested $7,500 twenty years ago with an insurance company that has paid him 6 percent simple…

A: Compound interest is the process of earning interest on accumulated interest. It differs from simple…

Q: Smith invests usd 10.000 in an account that pays interest. After the first year he receives 4.200…

A: Future value is the accumulated sum of money that is invested with the motive to earn a certain…