Homework Answers
| Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks! |
| Answer a | |||
| A= P*(1+i)^n | |||
| A= ? | |||
| P= principle | 29500 | ||
| i= 2.70%/365= | 0.0001 | ||
| n= 365*7 | 2555 | ||
| So, | |||
| A= | 29500(1+0.000073972602739726)^2555 | ||
| A= | 29500(1.000073972602739726)^2555 | ||
| A= | 29500*1.20803250819596 | ||
| A= | 35,636.96 | ||
| $ 35,636.96 will be accumulated. | |||
| Answer b | |||
| A= | |||
| P= 29,500 | |||
| i= 2.76%= 0.0276 | |||
| n= 7 | |||
| In continuous compounding the formula is | |||
| A= | P*e^(i*n) | Here E= 2.7183 | |
| A= | 29,500*2.7183^(0.0276*7) | ||
| A= | 29,500*2.7183^0.1932 | ||
| A= | 29,500*1.21312696112035 | ||
| A= | 35,787.25 | ||
| $ 35,787.25 will be accumulated. |
Add Answer to:
17,65 of 12 hemount of money that will be won.dated in an mount that pays compounders...
Suppose that money is deposited daily into a savings account at an annual rate of $1000....
Suppose that money is deposited daily into a savings account at an annual rate of $1000. If the account pays 4% interest compounded continuously, estimate the balance in the account at the end of 3 years. The approximate balance in the account is $ (Round to the nearest dollar as needed.)
Suppose that money is deposited daily into a savings account at an annual rate of $19,000....
Suppose that money is deposited daily into a savings account at an annual rate of $19,000. If the account pays 5% interest compounded continuously, estimate the balance in the account at the end of 3 years. The approximate balance in the account is $ 1. (Round to the nearest dollar as needed.)
o The function ) - 1300 represents the rate of flow of money in dollars per...
o The function ) - 1300 represents the rate of flow of money in dollars per year. Assume a 5-year period at 8% compounded continuously. Find (a) the present value and the accumulated amount of money fow att OAP S ot S The present value is $( (Do not round until the final answer. Then round to the nearest cant as needed) (D) Set up the integral used to find the accumulated amount of money flow ott 5. Select the...
An investment pays 5% interest compounded continuously. If money is invested steadily at the rate of...
An investment pays 5% interest compounded continuously. If money is invested steadily at the rate of $14,000, how much time is required until the value of the investment reaches $140,000? The amount of time required is approximately years. (Type an integer or decimal rounded to the nearest hundredth as needed.)
Jim places $10,000 in a bank account that pays 11.6% compounded continuously. After 2 years, will...
Jim places $10,000 in a bank account that pays 11.6% compounded continuously. After 2 years, will he have enough money to buy a car that costs $12,618? If another bank will pay Jim 12% compounded semiannually, is this a better deal? After 2 years, Jim will have $ (Round to the nearest cent as needed.) Jim will have enough money to buy the $12,618 car after 2 years. After 2 years, the other bank will yield $ (Round to the...
The function f(x) - 0 04x500 represents the rate of flow of money in dollars per...
The function f(x) - 0 04x500 represents the rate of flow of money in dollars per year. Assume a 10-year period at 8% compounded continuously. Find (A) the present value and (b) the accumulated amount of money sowat 10 (A) The present value iss (Do not round until the final answer. Then round to the nearest cent as needed.) (B) The accumulated amount of money flow at 10 is $ (Do not round until the final answer. Then round to...
Complete the table to determine the amount of money P that should be invested at rater...
Complete the table to determine the amount of money P that should be invested at rater to produce a final balance of $140,000 int years. (Round your answers to two decimal places.) r = 8%, compounded daily Trust Fund A deposit of $20,000 is made in a trust fund that pays 7% Interest, compounded continuously. It is specified that the balance will be given to the college from which the donor graduated after the money has earned interest for 50...
154. How much money must be invested in an account that pays 6% per year in-...
154. How much money must be invested in an account that pays 6% per year in- terest to be worth $20,000 at the end of 8 years if (forgetting leap years and making "convenient" assumptions): a. Interest is compounded annually? onomani a b. Interest is compounded semi-annually? c. Interest is compounded quarterly? Wo b d. Interest is compounded monthly? no wo o e. Interest is compounded weekly? f. Interest is compounded daily? g. Interest is compounded hourly? h. Interest is...
Use the compound interest formulas A=P(1+r/n)nt and A=Pert to solve the problem given.
Use the compound interest formulas A=P(1+r/n)nt and A=Pert to solve the problem given. Round answers to the nearest cent.Find the accumulated value of an investment of $15,000 for 5 years at an interest rate of 7 %if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.a. What is the accumulated value if the money is compounded semiannually?b.What is the accumulated value if the money is compounded quarterly?c. What is the accumulated value if the...
Use the compound interest formulas A = and A=Pe" to solve the problem given. Round answers...
Use the compound interest formulas A = and A=Pe" to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 7% if the money is a compounded semiannually, b. compounded monthly compounded continuously a. What is the accumulated value if the money is compounded semiannually? $ (Round your answer to the nearest cent) b. What is the accumulated value if the money is...
Suppose that money is deposited daily into a savings account at an annual rate of $1000. If the account pays 4% interest compounded continuously, estimate the balance in the account at the end of 3 years. The approximate balance in the account is $ (Round to the nearest dollar as needed.)
Suppose that money is deposited daily into a savings account at an annual rate of $19,000. If the account pays 5% interest compounded continuously, estimate the balance in the account at the end of 3 years. The approximate balance in the account is $ 1. (Round to the nearest dollar as needed.)
o The function ) - 1300 represents the rate of flow of money in dollars per year. Assume a 5-year period at 8% compounded continuously. Find (a) the present value and the accumulated amount of money fow att OAP S ot S The present value is $( (Do not round until the final answer. Then round to the nearest cant as needed) (D) Set up the integral used to find the accumulated amount of money flow ott 5. Select the...
An investment pays 5% interest compounded continuously. If money is invested steadily at the rate of $14,000, how much time is required until the value of the investment reaches $140,000? The amount of time required is approximately years. (Type an integer or decimal rounded to the nearest hundredth as needed.)
Jim places $10,000 in a bank account that pays 11.6% compounded continuously. After 2 years, will he have enough money to buy a car that costs $12,618? If another bank will pay Jim 12% compounded semiannually, is this a better deal? After 2 years, Jim will have $ (Round to the nearest cent as needed.) Jim will have enough money to buy the $12,618 car after 2 years. After 2 years, the other bank will yield $ (Round to the...
The function f(x) - 0 04x500 represents the rate of flow of money in dollars per year. Assume a 10-year period at 8% compounded continuously. Find (A) the present value and (b) the accumulated amount of money sowat 10 (A) The present value iss (Do not round until the final answer. Then round to the nearest cent as needed.) (B) The accumulated amount of money flow at 10 is $ (Do not round until the final answer. Then round to...
Complete the table to determine the amount of money P that should be invested at rater to produce a final balance of $140,000 int years. (Round your answers to two decimal places.) r = 8%, compounded daily Trust Fund A deposit of $20,000 is made in a trust fund that pays 7% Interest, compounded continuously. It is specified that the balance will be given to the college from which the donor graduated after the money has earned interest for 50...
154. How much money must be invested in an account that pays 6% per year in- terest to be worth $20,000 at the end of 8 years if (forgetting leap years and making "convenient" assumptions): a. Interest is compounded annually? onomani a b. Interest is compounded semi-annually? c. Interest is compounded quarterly? Wo b d. Interest is compounded monthly? no wo o e. Interest is compounded weekly? f. Interest is compounded daily? g. Interest is compounded hourly? h. Interest is...
Use the compound interest formulas A = and A=Pe" to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 7% if the money is a compounded semiannually, b. compounded monthly compounded continuously a. What is the accumulated value if the money is compounded semiannually? $ (Round your answer to the nearest cent) b. What is the accumulated value if the money is...
Most questions answered within 3 hours.
-
Calculate the pH of each of the following given the molar
hydrogen ion concentration.
Part A...
asked 2 seconds ago -
A rocket takes off from Earth's surface, accelerating straight
up at 43.2 m/s2. Calculate the normal...
asked 2 minutes ago -
At
the milestone that defines telophase,the chromosomes ....
a) separate
b) come together
c) line up...
asked 15 minutes ago -
The text identifies six steps for minimizing product liability
risk in the product development process. The...
asked 15 minutes ago -
1,We can create a new text file with the following commands,
except: Group of answer choices...
asked 17 minutes ago -
High End Costume is all-equity financed and its stock has a
price to earnings ratio of...
asked 27 minutes ago -
A block of 2 kg of mass is attached to a horizontal spring. The
spring is...
asked 38 minutes ago -
How are thermohaline currents tied to the atmosphere and how can
these currents affect climate variations...
asked 45 minutes ago -
One 2.5 MW turbine had a monthly production of 700 MWh, while
the 250 MW wind...
asked 54 minutes ago -
C++ question.
Introduce a pass by pointer function that reverses a whole
vector.
asked 51 minutes ago -
The number of head trauma injuries at a small hospital has a
Poisson distribution with a...
asked 54 minutes ago -
1. An airplane leaves airport A and travels in a straight line
in a direction 30...
asked 1 hour ago