Can you help me solve this please?
Homework Answers
Balance in account after 1 year = $7000*e0.039*1 = $7,238.39
Balance in account after 5 years = $7000*e0.039*5 = $8,507.18
Balance in account after 20 years = $7000*e0.039*20 = $15,270.31
APY = e0.039-1 = 0.03977 = 3.977% = 3.98%
Please do rate me and mention doubts in the comments section.
Add Answer to:
Can you help me solve this please?
Use the formula for continuous compounding to compute the...
Use the formula for continuous compounding to compute the balance in the account after 1,5, and...
Use the formula for continuous compounding to compute the balance in the account after 1,5, and 20 years. Also, find the APY for the account. A $8000 deposit in an account with an APR of 3.1%. The balance in the account after 1 year is approximately $1. (Round to the nearest cent as needed.) The balance in the account after 5 years is approximately (Round to the nearest cont as needed.) The balance in the account after 20 years is...
Use the formula for continuous compounding to compute the balance in the account after 1, 5,...
Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account. A $15,000 deposit in an account with an APR of 2.5%. The balance in the account after 1 year is approximately $__ (Round to the nearest cent as needed.) The balance in the account after 5 years is approximately $___. (Round to the nearest cent as needed.) The balance in the account after 20...
Use the formula for continuous compounding to compute the balance in the account after 1, 5,...
Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account AS10,000 deposit in an account with an APR of 3.75%. The balance in the account after 1 year is approximately S (Round to the nearest cent as needed) The balance in the account after 5 years is approximately S (Round to the nearest cent as needed.) The balance in the account after 20 years...
Use the formula for continuous compounding to compute the balance in the account after 1, 5,...
Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account. A $6000 deposit in an account with an APR of 4.2%
Use the appropriate compound interest formula to compute the balance in the account after the stated...
Use the appropriate compound interest formula to compute the balance in the account after the stated period of time $7,000 is invested for 11 years with an APR of 2% and monthly compounding, The balance in the account after 11 years is $ 924,000.38 (Round to the nearest cent as needed.)
Use the compound interest formula to compute the balance in the following account after the stated...
Use the compound interest formula to compute the balance in the following account after the stated period of time, assuming interest is compounded annually. $12000 invested at an APR of 3.1% for 20 years. The balance in the account after 20 years is $ ___ (Round to the nearest cent as needed.)
Use the compound interest formula for compounding more than once a year to determine the accumulated...
Use the compound interest formula for compounding more than once a year to determine the accumulated balance after the stated period. 9) $7000 deposit at an APR of 5% with semiannual compounding for 10 years A) $11,402.26 B) $11,470.32 C) $8960.59 D) $10,500.00 D) $300.00 10) $3000 deposit at an APR of 2% with daily compounding for 5 years C) $3315.51 B) $2843.46 A) $3012.02
can someone please help me QUESTION 2 Find the annual percentage yield (APY) of an account...
can
someone please help me
QUESTION 2 Find the annual percentage yield (APY) of an account with an APR of 5.6% compounded monthly. Round to two decimal places. QUESTION 3 Find the savings plan balance after 5 years with an APR of 8.8% and monthly payments of $572. QUESTION 4 You intend to create a college fund for your baby. If you can get an APR of 7% and want the fund to have a value of $158,962 after 16...
Help me Asap!! Pllzzz For the sinking fund below, compute (a) the size of the periodic...
Help me Asap!! Pllzzz
For the sinking fund below, compute (a) the size of the periodic payment and (b) the accumulated balance at the time indicated. Amount of Payment Payments Conversion Term Interest Rate Accumulated Sinking Fund Interval Made At: Period Balance After $9,000 1 month end 5 years 6% monthly payment 42 (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
hi, can you help me to solve this. thank you.. If $11,000 is invested at 4%...
hi,
can you help me to solve this.
thank you..
If $11,000 is invested at 4% compounded quarterly, what is the amount after 4 years? The amount after 4 years will be S (Round to the nearest cent.) er ar
Use the formula for continuous compounding to compute the balance in the account after 1,5, and 20 years. Also, find the APY for the account. A $8000 deposit in an account with an APR of 3.1%. The balance in the account after 1 year is approximately $1. (Round to the nearest cent as needed.) The balance in the account after 5 years is approximately (Round to the nearest cont as needed.) The balance in the account after 20 years is...
Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account AS10,000 deposit in an account with an APR of 3.75%. The balance in the account after 1 year is approximately S (Round to the nearest cent as needed) The balance in the account after 5 years is approximately S (Round to the nearest cent as needed.) The balance in the account after 20 years...
Use the appropriate compound interest formula to compute the balance in the account after the stated period of time $7,000 is invested for 11 years with an APR of 2% and monthly compounding, The balance in the account after 11 years is $ 924,000.38 (Round to the nearest cent as needed.)
Use the compound interest formula for compounding more than once a year to determine the accumulated balance after the stated period. 9) $7000 deposit at an APR of 5% with semiannual compounding for 10 years A) $11,402.26 B) $11,470.32 C) $8960.59 D) $10,500.00 D) $300.00 10) $3000 deposit at an APR of 2% with daily compounding for 5 years C) $3315.51 B) $2843.46 A) $3012.02
can
someone please help me
QUESTION 2 Find the annual percentage yield (APY) of an account with an APR of 5.6% compounded monthly. Round to two decimal places. QUESTION 3 Find the savings plan balance after 5 years with an APR of 8.8% and monthly payments of $572. QUESTION 4 You intend to create a college fund for your baby. If you can get an APR of 7% and want the fund to have a value of $158,962 after 16...
Help me Asap!! Pllzzz
For the sinking fund below, compute (a) the size of the periodic payment and (b) the accumulated balance at the time indicated. Amount of Payment Payments Conversion Term Interest Rate Accumulated Sinking Fund Interval Made At: Period Balance After $9,000 1 month end 5 years 6% monthly payment 42 (a) The size of the periodic payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places...
hi,
can you help me to solve this.
thank you..
If $11,000 is invested at 4% compounded quarterly, what is the amount after 4 years? The amount after 4 years will be S (Round to the nearest cent.) er ar
Most questions answered within 3 hours.
-
Tennis champion Maria Sharapova is capable of serving a tennis
ball at 126 mph.
b) What...
asked 2 minutes ago -
The electric potential V in the space between the plates of a
given vacuum tube is...
asked 11 minutes ago -
The Hydroboration-Oxidation of an Alkene to Yield 1-Octanol.
1-octene to 1-octanol using BH3-THF
What might be...
asked 17 minutes ago -
You draw and keep a single bill from a hat that contains a
$11, $55, $20...
asked 33 minutes ago -
Write a Java program that has the following methods:
findSum - a method that takes in...
asked 35 minutes ago -
A coffee cup calorimeter initially contains 135g of water at
22.0oC. Calcium chloride (21.0g) at the...
asked 38 minutes ago -
A patient is having a magnetic resonance imaging scan (an MRI)
and has neglected to remove...
asked 40 minutes ago -
A student takes a multiple-choice test that has 10 questions.
Each question has two choices. The...
asked 1 hour ago -
Willie Keeler has a lifetime batting average of 0.341. Assume
that Willie Keeler came to bat...
asked 1 hour ago -
Which of the following has the highest boiling point?
A) 0.5m NaCl
B) 0.5m C6H12O6
C)...
asked 1 hour ago -
12. A firm is producing at an output level where
AR = MC > AC >...
asked 1 hour ago -
Radovilsky Manufacturing Company, in Hayward, California,
makes flashing lights for toys. The company operates its production...
asked 1 hour ago