Karen Gaines invested $13,000 in a money market account with an interest rate of 1.75% compounded semiannually. Six years later, Karen withdrew the full amount to put toward the down payment on a new house. How much did Karen withdraw from the account? Karen withdrew $ (Round to the nearest cent as needed) (COD)
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- Karen Gaines invested $12,000 in a money market account with an interest rate of 1.25% compounded semiannually. Five years later, Karen withdrew the full amount to put toward the down payment on a new house. How much did Karen withdraw from the account? .... Karen withdrew $ (Round to the nearest cent as needed.)Supposed 30 years ago your mother deposited $1,400 in an investment account earning 6.0% per year. After 9 years she withdrew $434. There were no additional deposits or withdrawals from the account. Obtain today's value of the investment account.Karen invested $10,000 in a money market account with an interest rate of 1.75% compounded semiannually. Five years later, Karen withdrew the full amount to put toward the down payment on a new house. How much did Karen withdraw from the account?
- Jennifer Nelson deposited $500 into a savings account earning 3%, compounded semiannually. After 5 years, she took the money and moved it into an account earning 3.8%, compounded quarterly. Four years later she withdrew all the money. How much money was in the account after 9 years?Rick deposited $3050 into an account 9 years ago for an emergency fund. Today that account is worth $3950. What annual rate of return did rick earn on this account assuming no other deposits and no withdrawal?Ruth Altidore invested $6,000 at 11% annual interest, and left the money invested without withdrawing any of the interest for 14 years. At the end of the 14 years, Ruth withdrew the accumulated amount of money. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) What amount did Ruth withdraw, assuming the investment earns simple interest? The amount Ruth withdrew (b) What amount did Ruth withdraw, assuming the investment earns interest compounded annually? (Round answer to 2 decimal places, e.g. 25.25.) The amount Ruth withdrew $ %24
- Shirley Trembley buys a house for $186,200. She puts 20% down and obtains a simple interest amortized loan for the balance at 11 3 8 % interest for thirty years. Ten years and six months later, she sells her house. Find the unpaid balance on her loan. (Round your answer to the nearest cent.)$Lisa Altidore invested $7,000 at 7% annual interest, and left the money invested without withdrawing any of the interest for 12 years. At the end of the 12 years, Lisa withdrew the accumulated amount of money. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (a) What amount did Lisa withdraw, assuming the investment earns simple interest? The amount Lisa withdrew $ (b) What amount did Lisa withdraw, assuming the investment earns interest compounded annually? (Round answer to 2 decimal places, e.g. 25.25.) The amount Lisa withdrew +A $Judy recently purchased her first home for $220,000. She made a down payment of $20,000, and financed the balance over 15 years, at 6% interest. If Judy's first payment is due on October 1 of this year, approximately how much interest will she pay inthis year? $2,073.47. $1,979.76 $3,288.63. $5,885.09.
- Cristy borrowed $4,800 from a family friend 2½ years ago at 7% compounded annually for the first year and 8% compounded semi-annually thereafter. She made a payment 1½ years into the loan for $2980. How much should Cristy pay today to clear her loan? Select one: a. $5384.26 b. $2554.13 c. none d. $5777.30Margaret M. withdrew $630,315 from an account into which she had invested $350,000. If the account paid interest at 4% per year, she kept the money in the account for how many years?Jackie deposited $9,000 in an interest-bearing savings account and after 10 years, Jackie closes out the account, which is worth at that time $18,000. Assuming Jackie made no other deposits into the savings account during this 10-year period other than the initial amount of $9,000, what annual rate of interest did she earn over the 10 years? Note: Carry your final answer out two decimal places. C 6.45% C 7.18% 9.10% 10.0%