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# Compound Interest Question

You can afford monthly deposits of \$140 into an account that pays 3.0% compounded monthly. How long will it be until you have \$6,600 to buy a boat? Type the number of months:___ (round to...

# The following formula is incorrect for compound interest with the symbols defined this way, can someone tell me why?

The following formula is incorrect for compound interest with the symbols defined this way, can someone tell me why?     Compound Interest is described by A = P(1+rm)^n,...

# Compound interest

Suppose you are managing an account in which you deposit  \$20,000 at the end of each year for 20 years. How much amount you have accumulated with the assumption that you earn 5% interest compounded...

# interest problem

suppose that you save for retirement by contributing the same amount each month from your 23rd birthday until your 65th birthday in an account that pays a steady 4% annual interest compounded monthly...

# Calculating compound interest

Heather received \$100 for her 13th birthday. If she saves it in a bank with 3% interest compounded quarterly, how much money will she have in the bank by her 16th birthday?    ...

# Suppose you deposit \$3,000 for 6 years at a rate of 7%. I don't understand this question.

A=P(1+ r/n)nt        All work needs to be shown on how answer was calculated a) Calculate the return (A) if the bank compounds semi-annually. Round your...

# Is the compound interest formula—such as would be used to calculate a car loan

Is the compound interest formula—such as would be used to calculate a car loan—an example of a function? If yes, of what type of function is it an example of? Why might you identify it with...

# How do you compute compounded interest, when it changes half way through?

You deposit \$4000 in an account that pays 8% interest compounded semiannually. After 4 years, the interest rate is increased to 8.24% compounded quarterly. What will be the value of the account after...

# I have a quastion please.

Find the value of annuity of a =\$8000, I = 0.010, n =25