Caleb invests $10,000 in a savings ccount that pays 3% simple interest w many years will it take the accour grow to $12,700, if he does not mak any withdrawals or deposits? 7 years 12 years 9 years 22 years

Q: Bank offers a 10-year CD that earns 2.3% compounc 108 is is invested in this CD, how much will it be…

A: In this question we will use basic of algebra i.e concept of compound interest. We will simply use…

Q: You deposit $560 in a savings account paying 3.9% simple interest. How much interest will you earn…

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Q: Larry invests in a $100 savings plan.The plan pays 41/2% interest each year on his account balance.…

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Q: Suppose you want to have $500,000 for retirement in 25 years. Your account earns 9%6 interest. a)…

A: This question is related to interest.

Q: 27 Christi has $7,500 to invest. She was offered a simple annual interest rate of 4% for three…

A: We need to find best option for Christi.

Q: Suppose you want to have $600,000 for retirement in 20 years. Your account earns 9% interest. How…

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Q: 6. Emily invests $5,000 in an account that pays 4% simple interest. About how many years will it…

A: The correct option is, option (C) 25 years.   The detailed solution is as follows below:

Q: 6. Trey wants to attend a college that will cost $17,400 for the first year. His uncle gave him a…

A: Trey first year cost =$17400 Trey special gift by uncle =$12000

Q: Ari wants to save up to buy a new computer, which costs $1,100. She received $500 for her graduation…

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Q: Felicia invests $25,000 in a savings account that pays 2.75% simple interest. How much interest does…

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Q: Wendy invests $6,000.00 at 3% simple interest for 3 years. How much interest is earned over the 3…

A: Formula : Interest = I = PRT/100 Amount = P + I

Q: Coral invested $500 in an account that earns simple interest at the rate of 5.5% each year. Assuming…

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Q: David owns $25,000 worth of 10-year bonds of Ace Corporation. These bonds pay interest every 6…

A: Given, Principal = p =  25000$ Bond life = 10 years Payment cycle = n =  6 months = 6/12 = 1/2 year…

Q: Leo borrowed P35,000 from a bank that charges 7½% simple interest. How much amount must he repay…

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Q: 3. A man loan P2000 from the bank. How long would it take in years for the amount ofthe loan and…

A: Given, A man loan p2000 from the bank, so here principal amount=p2000 8% simple interest, so the…

Q: A person invests 25,000 in two funds paying 3% and 4.5% simple interest. The annual interest equals…

A: Given Information - Total investment made = $25,000 Rate of investment in each fund = 3% and 4.5%…

Q: kample 3 Darnel owes a total of $3060 which includes 12% interest for the three years he borrowed…

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Q: You deposit $200 monthly in a saving plan with APR of 6% for 10 years.  How much would your…

A: The APR stands for annual percentage rate which represents the rate at which the amount will…

Q: A state lotto has a prize that pays $1,100 at the end of each week for 15 years. Find the total…

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Q: Joseph Abruzzio decides to divide a gift of $6000 into two different accounts. He deposits $2000 in…

A: Consider the given informationTotal amount =6000$Deposit amount in IRA = 2000$ with interest rate of…

Q: Dr. Seals borrows $15,000 to remodel her backyard. The interest rate is 3%. The interest is…

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Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

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Q: Don buys a car for $22,500. Don gets a loan for 5 years with an interest rate of 3% per year. How…

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Q: James received $3,000 in his first month of working with Star Sales and a $9,550 commission increase…

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Q: You deposit $200 in an account earning 7% interest compounded annually. How much will you have in…

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Q: 3. Gabriela deposited $500 in an account that earns 3% interest compounded annually. How much…

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Q: A state lotto has a prize that pays $1,700 each week for 25 years. Find the total value of the…

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Q: The sixth month this year, you have $372 saved. At the eighth month this year, you have saved $396.…

A: The sixth month this year, you have $372 saved.At the eighth month this year, you have saved $396

Q: Maxwell has deposited $125 into a savings account each month this year. He plans on depositing $15…

A: Observe that, In first year, Maxwell deposited each month $125 and he deposited more each month is…

Q: Jim deposits $520 at the end of each quarter in his savings account. If the account earns 5.15%, how…

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Q: Leo borrowed P35,000 from a bank that charges 7½% simple interest. How much will the interest be…

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Q: Calculate the amount of money​ you'll have at the end of the indicated time period.   You invest…

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Q: Ken made $14,500 in five months at his new job. How much can he expect to make in two years if his…

A: Given : Ken made $14,500 in five months at his new job.

Q: A total of $26,000 is invested in two corporate bonds that pay 3.5% and 5% simple interest. The…

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Q: Suppose you want to have $300,000 for retirement in 35 years. Your account earns 7% interest. a) How…

A: A) calculating monthly deposit,  Using TVM calculation PMT=[PV=0, FV=300,000, N=420, I= 0.07/12]…

Q: Cate purchases $1600 worth of stock and her broker estimates it will increase in value by 4.2% each…

A: Given: Principal amount=$1600 annual interest rate = 4.2%                                    = 0.042…

Q: Josie is a saver. Each month, she deposits $300 in a savings account at the bank that yields an…

A: Topic = algebra

Q: Michelle deposits P1o,000 in an account that eams 8% simple interest. How long will it take for the…

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Q: David owns $30,000 worth of 10-year bonds of Ace Corporation. These bonds pay interest every 6…

A: David owns principle amount : $30,000 rate of interest = 2%/year = 1/6 %/month so interest after 6…

Q: Sharon has deposited $140 into a savings account each month this year. She plans on depositing $15…

A:

Q: Joel takes out a loan from his local bank at a rate of 5%. He invests 75% of that loan into common…

A: Find the explanation below

Q: Dave puts $200 in a savings account earning 2.5% annual simple interest. Assume Dave makes no other…

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Q: Lucy borrowed a total of $19,000 from two different banks to start a business. One bank charged the…

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Q: Mike saves $2,000 at a yearly simple interest rate of 2%. He earns $280 in interest. For how many…

A: The solution is given below

Q: Interest | = Prt 5) Ben deposited $6,500 in a simple interest account that pays 2.8% interest…

A: Given:  Principal P=$6,500  rate r=2.8%and the time t=12 yearsFormula:  I =Prt

Q: If P3000 is deposited in a savings account paying 3% a year. How much will you have in the account…

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Q: Azira invests RM 40000 in a finance company with a simple interest of 5% per annum. Find the amount…

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Q: Nick deposits $1500 into a savings account that earns simple interest. The bank ar interest to his…

A: Given:   Data is given

Q: Josie is a saver. Each month, she deposits $300 in a savings account at the bank that yields an…

A: