$1,100 per month for 10 years, if the account earns 2% per year What the student or parent is asking is: If they deposit $1,100 per month in a savings/investment account every month for 10 years, and they earn 2% per year, how much will the account be worth after 10 years? Deposits are monthly. But interest crediting is annual. What we want is to match the two based on interest crediting time, which is annual or yearly. 1100 per month. * 12 months in a year = 13,200 per year in deposit Since we matched interest crediting period with deposits, we now want to know: If they deposit $13,200 per year in a savings/investment account every year for 10 years, and they earn 2% per year, how much will the account be worth after 10 years? This is an annuity, which is a constant stream of payments with interest crediting at a certain period. [SIZE=5][B]Calculate AV given i = 0.02, n = 10[/B] [B]AV = Payment * ((1 + i)^n - 1)/i[/B][/SIZE] [B]AV =[/B]13200 * ((1 + 0.02)^10 - 1)/0.02 [B]AV =[/B]13200 * (1.02^10 - 1)/0.02 [B]AV =[/B]13200 * (1.2189944199948 - 1)/0.02 [B]AV =[/B]13200 * 0.21899441999476/0.02 [B]AV = [/B]2890.7263439308/0.02 [B]AV = 144,536.32[/B]

$500 is deposited into a savings account. The bank offers a 3.5% interest rate and the money is left in the account for 5 years. How much interest is earned in this situation? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=5000&nval=5&int=3.5&pl=Annually']compound interest calculator[/URL], we get interest earned as: [B]938.43[/B]

$800 is deposited in an account that pays 9% annual interest find balance after 4 years Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=800&nval=4&int=9&pl=Annually']compound interest calculator[/URL], we get: [B]1,129.27[/B]

A $1,000 deposit is made at a bank that pays 12% compounded monthly. How much will you have in your account at the end of 10 years? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=10000&nval=120&int=12&pl=Monthly']compound interest calculator[/URL] with time = 10 years * 12 months per year = 120, we get: [B]33,003.87[/B]

A bank charges a service fee of $7.50 per month for a checking account. A bank account has $85.00. If no money is deposited or withdrawn except the service charge, how many months until the account balance is negative? Let m be the number of months. Our balance is denoted by B(m): B(m) = 85 - 7.5m The question asks when B(m) is less than 0. So we set up an inequality: 85 - 7.5m < 0 To solve this inequality for m, [URL='https://www.mathcelebrity.com/1unk.php?num=85-7.5m%3C0&pl=Solve']we type it in our search engine[/URL] and we get: m > 11.3333 We round up to the next whole integer and get [B]m = 12[/B]

A couple is opening a savings account for a newborn baby. They start with $3450 received in baby gifts. If no depositts or withdrawals are made, what is the balance of the account if it earns simple interest at 6% for 18 years? Using [URL='https://www.mathcelebrity.com/simpint.php?av=&p=3450&int=6&t=18&pl=Simple+Interest']our simple interest calculator[/URL], we get: [B]7,176[/B]

A customer withdrew $100 from a bank account. The customer then deposited $33 the next day. Write and then evaluate an expression to show the net effect of these transactions. Withdrawals are negative since we take money away Deposits are positive since we add money So we have: [LIST] [*]100 withdrawal = -100 [*]33 deposit = +33 [/LIST] Our balance is: -100 + 33 = [B]-67 net[/B]

A grandmother deposited $5,000 in an account that pays 8% per year compounded annually when her granddaughter was born. What will the value of the account be when the granddaughter reaches her 16th birthday? We have the accumulation function A(t) = 5,000(1.08)^t. For t = 16, we have: A(16) = 5,000(1.08)^16 A(16) = 5,000*3.42594264333 A(16) = [B]17,129.71[/B]

A savings account earns 15% interest annually. What is the balance after 8 years in the savings account when the initial deposit is 7500 Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=7500&nval=8&int=15&pl=Annually']compound interest with balance calculator,[/URL] we get a balance of: [B]22,942.67[/B]

Alicia deposited $41 into her checking account. She wrote checks for $31 and $13. Now her account has a balance of $81. How much did she have in her account to start with? We start with a balance of b. Depositing 41 means we add to the account balance: b + 41 Writing checks for 31 and 13 means we subtract from the account balance: b + 41 - 31 - 13 The final balance is 81, so we set b + 41 - 31 - 13 equal to 81: b + 41 - 31 - 13 = 81 To solve for b, we [URL='https://www.mathcelebrity.com/1unk.php?num=b%2B41-31-13%3D81&pl=Solve']type this equation into our math engine[/URL] and we get: b = [B]84[/B]

Amy deposits 4000 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 4 years? Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=4000&int=6&t=4&pl=Simple+Interest']simple interest calculator[/URL], we get an accumulated value of 4,960 Interest Paid = Accumulated Value - Principal Interest Paid = 4960 - 4000 Interest Paid = [B]960[/B]

An initial deposit of $50 is now worth $400. The account earns 5.2% interest compounded continuously. Determine how long the money has been in the account. [URL='https://www.mathcelebrity.com/simpint.php?av=400&p=50&int=5.2&t=&pl=Continuous+Interest']Using our continuous interest compound calculator solving for t[/URL], we get: t =[B] 39.99 periods[/B]

Annuity that pays 6.6% compounded monthly. If $950 is deposited into this annuity every month, how much is in the account after 7 years? How much of this is interest? Let's assume payments are made at the end of each month, since the problem does not state it. We have an annuity immediate formula. Interest rate per month is 6.6%/12 = .55%, or 0.0055. 7 years * 12 months per year gives us 84 deposits. Using our [URL='http://www.mathcelebrity.com/annimmpv.php?pv=&av=&pmt=950&n=84&i=0.55&check1=1&pl=Calculate']present value of an annuity immediate calculator[/URL], we get the following: [LIST=1] [*]Accumulated Value After 7 years = [B]$101,086.45[/B] [*]Principal = 79,800 [*]Interest Paid = (1) - (2) = 101,086.45 - 79,800 = [B]$21,286.45[/B] [/LIST]

Ashley deposited $4000 into an account with 2.5% interest, compounded semiannually. Assuming that no withdrawals are made, how much will she have in the account after 10 years? Semiannual means twice a year, so 10 years * 2 times per year = 20 periods. We use this and [URL='https://www.mathcelebrity.com/compoundint.php?bal=4000&nval=20&int=2.50&pl=Semi-Annually']plug the numbers into our compound interest calculator[/URL] to get: [B]$5,128.15[/B]

Austin deposited $4000 into an account with 4.8% interest, compounded monthly. Assuming that no withdrawals are made, how much will he have in the account after 4 years? Do not round any intermediate computations, and round your answer to the nearest cent. Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=40000&nval=4&int=4.8&pl=Annually']balance calculator[/URL], we get: [B]$48,250.87[/B]

Benny opened a bank account. He deposited $92.50 into his account every month for 10 months. He used $36.50 every month to pay for art lessons. After 10 months, he used 1/2 of the total money left in his account to go to a summer camp for artists. What is the total amount of money Benny spent to go to the summer camp? If Benny deposits $92.50 every month and withdraws $36.50 every month, his net deposit each month is: 92.50 - 36.50 = 56 Benny does this for 10 months, so his balance after 10 months is: 56 * 10 = 560 Half of this is: 560/2 = [B]280[/B]

Bonnita deposited $4,500 into a savings account paying 3% interest compounded continuously. She plans on leaving the account alone for 7 years. How much money will she have at that time? Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=4500&int=3&t=7&pl=Continuous+Interest']compound interest calculator[/URL], we get: [B]$5551.55[/B]

Brice has 1200 in the bank. He wants to save a total of 3000 by depositing 40 per week from his paycheck. How many weeks will it take until he saves 3000? Remaining Savings = 3,000 - 1,200 = 1,800 40 per week * x weeks = 1,800 40x = 1800 Divide each side of the equation by 40 [B]x = 45 weeks[/B]

Bridget deposited $4500 at 6 percent simple interest. How much money was in the account at the end of three years? Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=4500&int=6&t=3&pl=Simple+Interest']simple interest balance calculator[/URL], we get: $[B]5,310[/B]

Cole and Finn are roommates. They paid three months rent and a $200 security deposit when they signed the lease. In total, they paid $1,850. What is the rent for one month? Write an equation and solve it. Equation, let m = rent for one month 3m + 200 = 1,850 Using our [URL='http://www.mathcelebrity.com/1unk.php?num=3m%2B200%3D1850&pl=Solve']Equation Solver[/URL], we get [B]m = 550[/B].

I'd like to warn our fans about a crypto scam going around. The site is [URL]https://crypto-fortress.com[/URL]. The scam runs like this... [LIST] [*]You're asked to deposit money, a minimum of $1,000 in BTC. [*]You're given credits on the money from their mining/aribtrage plan. [*]However, when it comes time to cash out after a week, they suddenly tell you, their is some magical agreement (which you never signed nor is on their website) where you now have to pay 25% of your profits to them and you'll get a withdrawal code for the rest. [*]When you press them on how they pay 75% of your profits from a 25% deposit which makes no sense, they tell you that it's how things work. [/LIST]

Dave has a savings account that pays interest at 3 1/2% per year. His opening balance for May was $1374.67. He did not deposit or withdraw money during the month. The interest is calculated daily. How much interest did the account earn in May? First, determine n, which is 31, since May has 31 days. We use our [URL='http://www.mathcelebrity.com/compoundint.php?bal=1374.67&nval=31&int=3.5&pl=Daily']compound interest balance calculator[/URL] to get: [B]1,378.76[/B]

During your first year on the job, you deposit $2000 in an account that pays 8.5%, compounded continuously. What will be your balance after 35 years? [URL='https://www.mathcelebrity.com/simpint.php?av=&p=2000&int=8.5&t=35&pl=Continuous+Interest']Using our continuous compound balance calculator[/URL], we get a balance of [B]$39,179.25.[/B]

Eighty percent of the employees at Rowan University have their biweekly Wages deposit directly to their bank by electronic deposit program. Suppose we select a random samples of 8 employees. What is the probability that three of the eight (8) sampled employees use direct deposit program? Use the [I]binomial distribution[/I] [LIST] [*]p = 0.8 [*]n = 8 [*]k = 3 [/LIST] So we want P(X = 3) Using our [URL='http://www.mathcelebrity.com/binomial.php?n=+8&p=+0.8&k=+3&t=+5&pl=P%28X+=+k%29']binomial distribution calculator[/URL], we get P(X = 3) = [B]0.0092[/B]

Find the final amount of money in an account if $ 3,800 is deposited at 8% interest compounded annually and the money is left for 6 years Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=3800&nval=6&int=8&pl=Annually']compound interest with balance calculator[/URL], we get: [B]$6,030.12[/B]

Following the birth of triplets, the grandparents deposit $30,000 in a college trust fund that earns 4.5% interest, compounded quarterly. How much will be in the account after 18 years? 18 years = 18 * 4 = 72 quarters. Using our [URL='http://www.mathcelebrity.com/compoundint.php?bal=30000&nval=72&int=4.5&pl=Quarterly']compound interest balance calculator[/URL], we have: [B]$67,132.95[/B]

Hannah invested $540 in an account paying an interest rate of 4.7% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 18 years? [URL='https://www.mathcelebrity.com/simpint.php?av=&p=540&int=4.7&t=18&pl=Continuous+Interest']Using our compound interest balance calculator[/URL], we get: [B]$1,258.37[/B]

How much money will there be in an account at the end of 10 years if $8000 is deposited at a 7.5% annual rate that is compounded continuously? Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=8000&int=7.5&t=10&pl=Continuous+Interest']continuous compounding calculator[/URL], we get [B]$16,936[/B].

How much would you need to deposit in an account now in order to have $6000 in the account in 10 years? Assume the account earns 6% interest compounded monthly. We start with a balance of B. We want to know: B(1.06)^10 = 6000 B(1.79084769654) = 6000 Divide each side of the equation by 1.79084769654 to solve for B B = [B]3,350.37[/B]

How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 8% interest compounded monthly. 8% compounded monthly = 8/12 = 0.6667% per month. 15 years = 15*12 = 180 months We want to know an initial balance B such that: B(1.00667)^180 = $6,000 3.306921B = $6,000 Divide each side by 3.306921 [B]B = $1,814.38[/B]

Jenny added $150 to her savings account in July. At the end if the month she had $500. How much did she start with? Let the starting balance be s. A deposit means we added 150 to s to get 500. We set up this equation below: s + 150 = 500 To solve for s, we [URL='https://www.mathcelebrity.com/1unk.php?num=s%2B150%3D500&pl=Solve']type this equation into our search engine[/URL] and we get: s = 3[B]50[/B]

Jocelyn invested $3,700 in an account paying an interest rate of 1.5% compounded continuously. Assuming no deposits or withdrawals are made, how much money would be in the account after 6 years? Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=3700&int=1.5&t=6&pl=Continuous+Interest']continuous interest with balance calculator[/URL], we get: [B]$4,048.44[/B]

Joe opens a bank account that starts with $20 and deposits $10 each week. Bria has a different account that starts with $1000 but withdraws $15 each week. When will Joe and Bria have the same amount of money? Let w be the number of weeks. Deposits mean we add money and withdrawals mean we subtract money. [U]Joe's Balance function B(w) where w is the number of weeks:[/U] 20 + 10w [U]Bria's Balance function B(w) where w is the number of weeks:[/U] 1000 - 15w [U]The problem asks for when both balances will be the same. So we set them equal to each other and solve for w:[/U] 20 + 10w = 1000 - 15w To solve for w, we [URL='https://www.mathcelebrity.com/1unk.php?num=20%2B10w%3D1000-15w&pl=Solve']type this equation into our search engine[/URL] and we get: w = 39.2 We round up to full week and get: w = [B]40[/B]

Joshua deposited $1200 into his two bank accounts. How much did he put in his savings account, which pays 9% per year in interest, and his chequing account, which pays 4% per year, if he earned $88 in interest after one year? Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=1200&i1=9&i2=4&itot=88&pl=Calculate']split fund calculator[/URL], we get: [LIST] [*][B]800 in savings[/B] [*][B]400 in checking[/B] [/LIST]

Julio had $20 in his account. He made two withdrawals of $15 and $25, and then he deposits $28. What is his account balance now? Note: Balances add and Withdrawals subtract. So we have: 20 - 15 - 25 + 28 [B]8[/B]

Karleys bank account was negative $12.14. she then deposited $21.63. What was her account balance negative 12.14 can be written as -12.14 She then deposited 21.63 which means we add 21.63 to her bank account balance: +21.63 Final account balance is: -12.14 + 21.63 = [B]$9.49[/B]

Lauren invested $340 in an account paying an interest rate of 5.8% compounded monthly. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 13 years? 13 years * 12 months per year = 156 compounding periods. [URL='https://www.mathcelebrity.com/compoundint.php?bal=340&nval=156&int=5.8&pl=Monthly']Using our compound interest balance calculator[/URL] with 156 for t, we get: $[B]721.35[/B]

Levi invested $630 in an account paying an interest rate of 4.6% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach $970? 3,425 days, per the [URL='http://www.mathcelebrity.com/compoundint.php?bal=630&nval=3425&int=4.6&pl=Daily']balance calculator[/URL].

Matt has $100 dollars in a checking account and deposits $20 per month. Ben has $80 in a checking account and deposits $30 per month. Will the accounts ever be the same balance? explain Set up the Balance account B(m), where m is the number of months since the deposit. Matt: B(m) = 20m + 100 Ben: B(m) = 80 + 30m Set both balance equations equal to each other to see if they ever have the same balance: 20m + 100 = 80 + 30m To solve for m, [URL='https://www.mathcelebrity.com/1unk.php?num=20m%2B100%3D80%2B30m&pl=Solve']we type this equation into our search engine[/URL] and we get: m = [B]2 So yes, they will have the same balance at m = 2[/B]

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Nick opens a bank account with $50. Each week after, he deposits $15. In how many weeks will he have saved $500 Start with remaining balance: 500 - 50 = 450 Now figure out how many weeks, at 15 per week, to get 450 450/15 = [B]30 weeks[/B]

Oliver and Julia deposit $1,000.00 into a savings account which earns 14% interest compounded continuously. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend? Use the formula A=Pert, where A is the balance (final amount), P is the principal (starting amount), e is the base of natural logarithms (?2.71828), r is the interest rate expressed as a decimal, and t is the time in years. Round your answer to the nearest cent. [URL='https://www.mathcelebrity.com/simpint.php?av=&p=1000&int=3&t=14&pl=Continuous+Interest']Using our continuous interest calculator[/URL], we get: A = [B]1,521.96[/B]

On the day of a child's birth, a deposit of $25,000 is made in a trust fund that pays 8.5% interest. Determine that balance in this account on the child's 25th birthday. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=25000&nval=25&int=8.5&pl=Annually']compound interest calculator[/URL], we get: [B]192,169.06 [/B]

Patricia has $425.82 in her checking account. How much does she have in her account after she makes a deposit of $120.75 and a withdrawal of $185.90? Start with $425.82 Deposits mean we [B]add[/B] money to the bank account: 425.82 + 120.75 = 546.57 Our new balance is 546.57. Withdrawals mean we [B]subtract[/B] money from the bank account: 546.57 - 185.90 = [B]360.67[/B]

Rachel deposits $6000 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 4 years? Using our [URL='http://www.mathcelebrity.com/simpint.php?av=&p=6000&int=6&t=4&pl=Simple+Interest']simple interest calculator[/URL], we get interest paid of [B]$1,440[/B]

Ravi deposits $500 into an account that pays simple interest at a rate of 4% per year. How much interest will he be paid in the first 4 years? The formula for [U]interest[/U] using simple interest is: I = Prt where P = Principal, r = interest, and t = time. We're given P = 500, r =0.04, and t = 4. So we plug this in and get: I = 500(0.04)(4) I = [B]80[/B]

Reece made a deposite into an account that earns 8% simple interest. After 8 years Reece has earned 400 dollars. How much was Reece's initial deposit? Simple interest formula: A = P(1 + it) where P is the amount of principal to be invested, i is the interest rate, t is the time, and A is the amount accumulated with interest. Plugging in our numbers, we get: 400 = P(1 + 0.08(8)) 400 = P(1 + 0.64) 400 = 1.64P 1.64P = 400 [URL='https://www.mathcelebrity.com/1unk.php?num=1.64p%3D400&pl=Solve']Typing this problem into our search engine[/URL], we get: P = [B]$243.90[/B]

Rochelle deposits $4,000 in an IRA. What will be the value (in dollars) of her investment in 25 years if the investment is earning 8% per year and is compounded continuously? Using our [URL='https://www.mathcelebrity.com/simpint.php?av=&p=4000&int=8&t=25&pl=Continuous+Interest']continuous interest calculator[/URL], we get: [B]29,556.22[/B]

Sara opened an account with $800 and withdrew $20 per week. Jordan opened an account with $500 and deposited $30 per week. In how many weeks will their account be equal? Each week, Sara's account value is: 800 - 20w <-- Subtract because Sara withdraws money each week Each week, Jordan's account value is: 500 + 30w <-- Add because Jordan deposits money each week Set them equal to each other: 800 - 20w = 500 + 30w Using our [URL='http://www.mathcelebrity.com/1unk.php?num=800-20w%3D500%2B30w&pl=Solve']equation solver[/URL], we get w = 6. Check our work: 800 - 20(6) 800 - 120 680 500 + 30(6) 500 + 180 680

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Steve had $200 in his bank account. He made a deposit of $75 and then made a withdrawal of $90. How much money does Steve have in his account now? We add deposits 200 + 75 = 275 We subtract withdrawals 275 - 90 = [B]185[/B]

Steve Has Overdrawn His Checking Account By $27. His Bank Charged Him $15 For An Overdraft Fee Then He Quickly Deposited $100. What Is His Current Balance? [LIST=1] [*]Overdrawn means money he doesn't have, so we go into the negative. Start with -27. [*]A bank charge of $15 means he goes in the negative another $15, so -27 - 15 = -42 [*]Then he deposits $100, so his balance is: $100 - 42 = [B]$58[/B] [/LIST]

Sue has $25,000 to invest. She deposits some in stocks and the rest in annuities. If the stocks are at a rate of 6% and the annuities are at a rate of 3% and Sue wants to earn $1200 by the end of the year, find how much Sue deposited into each. Using our [URL='https://www.mathcelebrity.com/split-fund-interest-calculator.php?p=25000&i1=6&i2=3&itot=1200&pl=Calculate']split fund interest calculator[/URL], we get: [LIST] [*][B]15,000 in stocks[/B] [*][B]10,000 in annuities[/B] [/LIST]

Suppose that 25400 is invested in a certificate of a deposit for 3 years at 6% annual interest to be compounded semi annually how much interest will this investment earn? 3 years, compounded semi-annually, gives us 3 x 2 = 6 periods. [URL='https://www.mathcelebrity.com/compoundint.php?bal=25400&nval=6&int=6&pl=Semi-Annually']Using our balance with interest calculator[/URL], we get [B]$30,328.93[/B]

Suppose that the manager of the Commerce Bank at Glassboro determines that 40% of all depositors have a multiple accounts at the bank. If you, as a branch manager, select a random sample of 200 depositors, what is the probability that the sample proportion of depositors with multiple accounts is between 35% and 50%? [URL='http://www.mathcelebrity.com/proportion_hypothesis.php?x=50&n=+100&ptype==&p=+0.4&alpha=+0.05&pl=Proportion+Hypothesis+Testing']50% proportion probability[/URL]: z = 2.04124145232 [URL='http://www.mathcelebrity.com/proportion_hypothesis.php?x=+35&n=+100&ptype==&p=+0.4&alpha=+0.05&pl=Proportion+Hypothesis+Testing']35% proportion probability[/URL]: z = -1.02062072616 Now use the [URL='http://www.mathcelebrity.com/zscore.php?z=p%28-1.02062072616

Suppose you deposit $1000 in a college fund that pays 7.2% interest compounded monthly. Find the account balance after 12 years. Round your answer to two decimal places. Using our[URL='https://www.mathcelebrity.com/compoundint.php?bal=1000&nval=12&int=7.2&pl=Monthly'] compound interest balance calculator[/URL], we get: [B]$1,074.42[/B]

Suppose you deposit $3000 in an account paying 2% annual interest, compounded continuously. Use A=Pert to find the balance after 5 years. A = $3,000 * e^0.02(5) A = $3,000 * e^0.1 A = $3,000 * 1.105171 A = [B]$3,315.51[/B]

Suppose you deposited $1200 in an account paying a compound interest rate of 6.25% quarterly, what would the account balance be after 10 years? [URL='https://www.mathcelebrity.com/compoundint.php?bal=1200&nval=40&int=6.25&pl=Quarterly']Using our compound interest with balance calculator[/URL], we get: [B]$2,231.09[/B]

the initial deposit in a bank account was $6000 and it has an annual interest rate of 4.5%. Find the amount of money in the bank after 3 years Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=6000&nval=4.5&int=3&pl=Annually']balance and interest calculator[/URL], we get: [B]$6,853.60[/B]

You can afford monthly deposits of $270 into an account that pays 3.0% compounded monthly. How long will it be until you have $11,100 to buy a boat. Round to the next higher month. [U]Set up our accumulation expression:[/U] 270(1.03)^n = 11100 1.03^n = 41.1111111 [U]Take the natural log of both sides[/U] n * Ln(1.03) = 41.1111111 n = 3.71627843/0.0295588 n = 125.72 so round up to [B]126[/B]

You deposit $150 into an account that yields 2% interest compounded quarterly. How much money will you have after 5 years? 2% per year compounded quarterly equals 2/4 = 0.5% per quarter. 5 years * 4 quarter per year = 20 quarters of compounding. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=150&nval=20&int=2&pl=Quarterly']balance calculator[/URL], we get [B]$165.73[/B] in the account after 20 years.

You deposit $1600 in a bank account. Find the balance after 3 years if the account pays 1.75% annual interest compounded monthly Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=1600&nval=36&int=1.75&pl=Monthly']compound interest calculator with 3 years = 36 months[/URL], we get: [B]1,686.18[/B]

You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must you leave the money in the account to earn $500 in interest? The simple interest formula for the accumulated balance is: Prt = I We are given P = 2,000, r = 0.04, and I = 500. 2000(0.04)t = 500 80t = 500 Divide each side by 80 t = [B]6.25 years [MEDIA=youtube]Myz0FZgwZpk[/MEDIA][/B]

you deposit $2000 in an account that pays 3% annual interest. Find the balance after 10 years if the interest is compounded quarterly. Please give your answer to 2 decimal places. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=2000&nval=40&int=3&pl=Quarterly']compound interest calculator, with 10 * 4 = 40 quarters[/URL], we have: [B]$2,696.70[/B]

You deposit $750 in an account that earns 5% interest compounded quarterly. Show and solve a function that represents the balance after 4 years. The Accumulated Value (A) of a Balance B, with an interest rate per compounding period (i) for n periods is: A = B(1 + i)^n [U]Givens[/U] [LIST] [*]4 years of quarters = 4 * 4 = 16 quarters. So this is t. [*]Interest per quarter = 5/4 = 1.25% [*]Initial Balance (B) = 750. [/LIST] Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=750&nval=16&int=5&pl=Quarterly']compound balance interest calculator[/URL], we get the accumulated value A: [B]$914.92[/B]

You deposit $8500 in an account that pays 1.78% annual interest. Find the balance after 10 years when the interest is compounded monthly. 10 years * 12 months per year = 120 months. Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=8500&nval=120&int=1.781&pl=Monthly']compound interest calculator[/URL], we get a balance of: [B]$10,155.69[/B]

You open up a savings account. Your initial deposit is $300. You plan to add in $50 per month to save up for college. Write an equation to represent the situation. Let m be the number of months. We have a Savings account function S(m): S(m) = Monthly deposit * number of months + Initial Deposit [B]S(m) = 50m + 300[/B]

You pay 510.00 to rent a storage unit for 3 months the total cost includes an initial deposit plus a monthly fee of 160.00. Write and equation that represents your total cost Y in dollars after X months. Set up the cost function Y where x is the number of months you rent [B]Y = 160x + 510[/B]

Your friend deposits 9500$ in an investment account that earns 2.1% annual interest find the balance after 11 years when the interest is compounded quarterly 11 years * 4 quarters per year = 44 quarters Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=9500&nval=44&int=2.1&pl=Quarterly']compound interest with balance calculator[/URL], we have: [B]11,961.43[/B]

Zoey invested $230 in an account paying an interest rate of 6.3% compounded daily. Assuming no deposits or withdrawals are made, how much money, to the nearest hundred dollars, would be in the account after 12 years? Using our [URL='https://www.mathcelebrity.com/compoundint.php?bal=230&nval=4380&int=6.3&pl=Daily']compound interest calculator with 12*365 = 4380 for days,[/URL] we have a balance of: [B]$489.81[/B]