A bank offers a CD that pays a simple interest rate of 12.0%. How much must you put in this CD now in order to have $4,000 for a home-entertainment center in 6 years. The present value that must be invested to get $4,000 after 6 years at an interest rate of 12.0% is $ (Round up to the nearest cent.)

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Q: b) Suppose that the amount in an account 3 years after being invested at 7% is $6050. What was the…

A: A=P1+rtr=rate p= principal amountA = amoiunt

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Q: If you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: Here I am attaching image so that you understand each and every step.

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Q: If you have been hired at an annual salary of $23,000 and expect to receive annual increases of 5%,…

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Q: A certain financial institution declared a 50,000 dividend for the common stocks. If there are a…

A: Given: A certain financial institution declared a 50,000 dividend for the common stocks. If there…

Q: Jimmie has a job at an advertising agency earning $54000 per year. Jimmie is currently 26 years old…

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Q: If you were investing money in an account and the interest rate was the same either way, would you…

A: If the same amount of money is deposited and the same rate of interest is applied then: Simple…

Q: April borrows $18,000 at an interest rate of 5% to purchase a new automobile. At what rate (in…

A: It is given that  Principal, P = $18000 R = 5 % = 0.05 time, t = 5years    We have to find the…

Q: John wants to retire with $10,000 per month, how much principal is necessary to generate this amount…

A: Use the formula I=Prt100, where P is principal, and r is the rate of interest, t is the time.,…

Q: If you deposit $300 now in a savings account and increase your deposits by 10% each month, how much…

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Q: If the present worth of a company is 3000$ with interest rate of 9% for 6 years, the EUAC of the…

A: Given: Present value = $ 3000 Interest rate = 9% Number of periods n = 6 years

Q: If you earn $1200 per month and you expect your earnings to increase by 10% per year, how much do…

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Q: A lending company advertises that for a fee of P10, you can immediately borrow up to P200 for one…

A: The formula relates present value(P), future value(F), interest rate(i) and the number of years(n)…

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A: 5) A local car wash charges $3 per wash. One can pay $12.98 for 5 washes which are payable in…

Q: At age 35 you start saving for retirement. If your investment plan pays an APR of 6% and you want to…

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Q: f you borrow $2,400 for 4 years at an annual interest rate of 6%, how much will you pay altogether?

A: In this question, the concept of compounded interest is applied. Compounded Interest  Compound…

Q: How much final amount would Abraham receive if he invest P100,000 for 1 year and 3 months at 11%…

A: Use the formula to calculate the simple interest as follows:

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Q: Jay and Sybil are purchasing a home. They wish to save money for five years and purchase a house…

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Q: How much should you put in an investment paying a simple interest rate of​ 5% if you needed​ $4000…

A: Consider the provided question, Given, rate of interest = 5% time = 18 months = 1812 years Future…

Q: If a person takes a mortgage OMR 82,000 for 25 years, with a rate of interest 4% compounded…

A: Total number of periods is 100. Therefore answer b is correct.

Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. How much money will be…

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Q: John wants to retire with $10,000 per month, how much principal is necessary to generate this amount…

A: John wants to retire with $10,000 per month.Interest rate is 3%.To calculate:- principal that…

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Q: Suppose Mr. Chui would like to know the present value of his monthly deposit of P4,500 when interest…

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Q: A retiree invests $5,000 in a savings plan that pays 6% per year. What will the account balance be…

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Q: A $1,000,000 lottery prize pays $50,000 per year for the next 20 years. If the current rate of…

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Q: If a bank advertises "triple your money in 12 years", what simple rate of interest is it offering?

A: We need to calculate the simple interest that the bank offers. The bank says "triple your money in…

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Q: 3. A company rents an office building for $5500 per month. If they spend $49,920 to upgrade the…

A: Given, Monthly rent = $ 5500  They spend $ 49,920 to upgrade the facility.  Here, cost of upgrade…

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A: Given, Wendy, a loan officer at a bank, has $1,000,000 to lend and is required to obtain an average…

Q: If 100,000 php is deposited in a bank that grows 4% interest discretely, how much will it be in 5…

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Q: A bank offers a CD that pays a simple interest rate of 5%. How much must you put in this CD now in…

A: First, always look for what you are asked to find. Here it is how much you must put into a CD.…

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Q: A recent college graduate moves back in with their parents and invests their entire first year…

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Q: Jimmy deposits $4000 at a bank with an interest rate of 4.5% per year and he has no plans of…

A: From the given information, the principal investment is P=$4000, interest rate r=0.045, and n=1 and…

Q: Sonia received a statement on her Certificate of Deposit showing that her investment had returned…

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Q: An account that yields 6% simple interest annually has $2,000. How much will be in the account after…

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Q: A recent college graduate moves back in with their parents and invests their entire first-year…

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Q: A retiree invests $9,000 in a savings plan that pays 5% per year. What will the account balance be…

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Q: In the Sum of the years-digits depreciation method, if the asset has 6 years of life, then the…

A: Topic-year digit depreciation calculation

Q: if you decide to invest $2500 at 5% annual interest rate every year, how much would you have in your…

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Q: You are currently making $70,000 a year after taxes and are interested in maintaining your current…

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Q: A college student receives an interestfreeloan of $8250 from a relative. The student will repay$125…

A: A college student receives an interest free loan of $8250 from a relative. The student will repay…

Q: A bank deposit paying simple interest at the rate of 8% per year grew to a sum of $1200 in 10…

A: The formula for Simple Interest is given by S.I=PRT100 where P is the principle, R is the rate and T…

Q: If you pay $5,500 for a simple interest note that will be worth $6,000 in 21 months, what annual…

A: topic - percentage