Suppose that \( \$ 60,000 \) is invested at \( 8 \% \) interest. Find the amount of money in the account after 5 years if the interest is compounded annually. \( \begin{array}{l}\text { If interest is compounded annually, what is the } \\ \text { amount of money after } t=5 \text { years? }\end{array} \)

The Franklins bought a house for \( \$ 262,000 \). They put \( 20 \% \) down and financed the rest with a thirty-year loan at \( 5 \frac{3}{8} \% \). (a) Find their monthly payment. (Round your answer to the nearest cent.) \( \$ 1173.70 \) (b) If they paid an extra \( \$ 85 \) per month, how early would their loan be paid off? (HINT: This involves some trial-and- (Hr

If \( \$ 6000 \) is invested in a bank account at an interest rate of \( 6 \% \) per year, Find the amount in the bank after 6 years if interest is compounded annuall 8511.11 Find the amount in the bank after 6 years if interest is compounded quaterly Find the amount in the bank after 6 years if interest is compounded monthly

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The new technology aims to assist both grocery chains and the customer. With years of inflation and grocery prices rising, budgets are top of mind for consumers right now. So much so that a survey of registered voters before last month`s election showed that a whopping 96\% of voters said high prices for gas, groceries, and other goods factored in to how they cast their ballots. Consumer Price Index, or CPI, inflation data shows that Americans are shelling out \( 22 \% \) more for groceries compared to January of 2021.

Suppose that \( \$ 8500 \) is placed in an account that pays \( 17 \% \) interest compounded each year, Assume that no withdrawals are made from the account, Follow the instructions below, Do not do any rounding. (a) Find the amount in the account at the end of 1 vear. (b) Find the amount in the account at the end of 2 years. \( \$ 11637.15 \)