2. Emily invests $7646 for 6 years in an account that is compounded monthly at 4.8%. a) How much money does she have? Show all your work using the equations b) Find the interest earned. Show all your work using the equations
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- Belle decided to start a new investment account. She deposits $1,000 into an account that earns 3.5% interest, compounded quarterly for 10 years. How much more would she have earned, in interest, if she invested the same amount into an account earning 3.8% interest, compounded monthly, for the same number of years? a $44.50 b $350 c $1,416.91 d 1,461.41Juan decided to start saving for college. He deposited $500 into an account that earns 4% simple annual interest. At the end of each year, he will add $250 to this account. How much will he have in his account after the end of three years? a $550 b $770 c $1,050.80 d $1,342.83Determine whether each scenario below is a savings/investments question or a loans question. 1. Sabrina finances a $21,999 car at 4.25% APR over 5 years. If she makes a down payment for $5,000, how much will she end up paying in interest for the car? 2. Alejandro deposits $1,500 into an investment account with an APR of 2.25% compounded monthly. How much does Alejandro need to put into his account each month in order to have $5,000 in 3 years to purchase a car in cash? 3. Amy wants to buy a house for $150,000. She doesn't have enough yet for a 20% down payment. If she puts $2,000 into the account now and $500 every month, how long will it take for her to have enough for a 20% down payment to buy this house? 4. Arnie paid $500 for his $1,200 laptop. If he finances the rest at 6.75% over 24 months, how much money will he end up paying in total for this laptop?
- 4) Megan invests $2,000 at the end of each year into an account earning 3% effective annual interest. She reinvests the interest earned at the end of each year into a second account that will earn her 7% effective annual interest. How much is in the second account after 35 years? Also, fill in the following table (or, redraw the table on your solution sheet being handed in and fill it in). Year Amount in 1st account Amount deposited into 2nd account 0 1 2 3 : : 34 35Michelle Payne deposited $4,000 in a savings account paying 6.25% simple interest. How long (in years) will it take for her investment to amount to $7,000? 1 X yearsWhen you were born, your parents opened an investment account in your name and deposited $500 into the account. The account has earned an average annual rate of return of 4.8 percent. Today, the account is valued at $36,911.22. How old are you?
- Elizabeth has $31,209.00 in an investment account. Her goal is to have the account grow to $118,806.00 in 15 years without having to make any additional contributions to the account. What effective annual rate of interest would she need to earn on the account in order to meet her goal? O 10.32% 10.82% O 9.32% O 9.82% O 11.32%Allan borrowed $5600 from his father to buy a car. He repaid him after 6 months with interest of 9% per year. Find the total amount he repaid. Select one: a.$5810.00 b.$6104.00 c.$5852.00 d.$252.00PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS 1.- Osmara Del Toro deposits her life savings working at HoneyBee for $545,000, for when her retirement day arrives in 6 years, 6 months 6 days. The contract stipulates the payment of interest capitalizable quarterly, at a rate of 10.¼ %. What is the amount she will have at the end of the term that will provide welfare in her old age? Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.
- Yolanda deposited $1,600 at the end of each six months for 2 years in a savings account. If the account paid 8% interest, compounded semiannually, use Table 12-1 to find the future value of her account. (Round your answer to the nearest cent.) qu Need Help? Read It Watch It Master ItIf Laura invests $1,230.00 in an account earning 2.95% simple interest, how much money will be her account after 2 years? After 6 years? After 2 years: After 6 years:Arnie invests $18,400 in an account that pays an annual interest rate of 15 %. How much money does he have in the account after one year? Solve the problem by first formulating an equation. Enter the solution in the answer box AND Upload your work. Your Answer: Answer