You have $3,000 on a credit card that charges a 12% interest rate. If you want to pay off the credit card in 4 years, how much will you need to pay each month (assuming you don't charge anything new to the card)? each month Ouortic %24

Q: Marcus receives an inheritance of $10,000. He decides to invest this money in a 14-year certificate…

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A: Amount withdraw each year is P=$35000.,000. Annual interest rate is r=5% Total number of withdrawals…

Q: You deposit $5000 in an account earning 5% interest compounded monthly. How much will you have in…

A: Solution-  P = $5000 r = 5% or 0.05 t = 15 years n = 12 ( compounding monthly) Formula is given by…

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Q: You deposit $400 in an account earning 4% interest compounded annually. How much will you have in…

A: Given: Deposited amount  P0=400           Interest R=4%           Compounded anually n=1…

Q: If you invest $1,000,000 in an account paying 12%, how much will you have after 20 years if the…

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Q: How much money do you need to deposit in a bank today if you are planning to have $5000 in four…

A: Here we have to find hoe much money do you need to deposit in a bank today if you are planning to…

Q: much

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Q: Recently, More Money 4U offered an annuity that pays 4.5% compounded monthly. If $1,850 is deposited…

A: Let's find.

Q: deposit $4000 in an account earning 2% interest compounded monthly. How much will you have in the…

A: Given that; Principal {p} = $ 4000 Rate (r) = 2%  Time = 10 years By using the compound interest…

Q: You deposit $100 monthly in a saving plan with APR of 6% for 20 years.  How much would your…

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Q: You deposit $1,000 in an account at the Lifelong Trust Savings and Loan that pays 7% interest…

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Q: accumulate enough money for a down payment on a house, a couple deposits $597 per month into an…

A: We will find out the required value.

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A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: You deposit $300 in an account earning 6% interest compounded annually. How much will you have in…

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Q: How much would you need to deposit in an account each month in order to have $10,000 in the account…

A: Let the monthly payment be P . It is provided that future value, A=10000 . The rate of interest, r…

Q: You deposit $3000 in an account earning 4% interest compounded monthly. How much will you have in…

A: The formula of compounded interest is P'=P1+rnnt where P= original principal sum P'=new principal…

Q: you deposit $1500 into an account with 4% annual compund interest. complete the following, assuming…

A: The rate of change = Amount A x rate of interest, rHence, 150 = A x 4%Hence, A = 150 / 4% = $ 3,750

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Q: Solve Problem 20.4 using Excel.

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A: Cost of 1 cup of coffee is $4.35. Therefore, the total cost of coffee = $4.35×50=$217.5. This is the…

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Q: You deposit $1,000.00 each year into an account earning 5% interest compounded annually. How much…

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A: Given: The required amount in future is $20,000. The interest rate is 2%. The time duration is 8…

Q: A youth sports league receives a ​$30,000 donation for building a new snack bar and office building.…

A: A=P1+rnntFor quarterly, n=4

Q: You deposit $600 in an account earning 7% interest compounded annually. How much will you have in…

A: Initial amount=P= 600 Interest rate= r= 7%=0.07  Time=t= 20 years Number of times compounded in a…

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Q: You need to borrow $20000 and will pay it all back in a lump sum in 6 years. Of the two loan options…

A: Loan A is the best loan between these two loans . Loan A will save more money to us than loan b.…

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Q: Lynn Ally, owner of a local subway shop, loaned 62,000 to Pete hall to help him open a subway…

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Q: You deposit $2000 in an account earning 7% interest compounded monthly. How much will you have in…

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Q: You have $2,000 on a credit card that charges a 17% interest rate. If you want to pay off the credit…

A: Given: Credit card amount due (PV) = $2000 Annual interest rate (r) = 17% Number of months (t) = 5…

Q: You deposit $200 in an account earning 4% interest compounded annually. How much will you have in…

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