the balance in the account at end of first year $8248
The balance in the account at end of 5th year $9240
The balance in the account at the end of the 20th year $12960
The APY for the account approximately 3.1%
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 $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, 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...
Can you help me solve this please? 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 $7000 deposit in an account with an APR of 3.9% - 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.)...
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 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 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 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
Continuous compounding For the case in the following table, find the future value at the end of the deposit period, assuming that interest is compounded continuously at the given nominal annual rate. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Amount of initial deposit $2,600 Nominal annual rate, r 8% Deposit period (years), n 11 The future value at the end of the deposit period is $ . (Round...
How much money should be deposited today in an account that earns 5% compounded semiannually so that it will accumulate to $8000 in three years? The amount of money that should be deposited is $ (Round up to the nearest cent.) You deposit $14,000 in an account that pays 5% interest compounded quarterly A. Find the future value after one year B. Use the future value formula for simple interest to determine the effective annual yield. A. The future value...
Find the savings plan balance after 2 years with an APR of 3% and monthly payments of $100. The balance is $ (Do not round until the final answer. Then round to the nearest cent as needed.) Find the savings plan balance after 2 years with an APR of 3% and monthly payments of $100. The balance is $ (Do not round until the final answer. Then round to the nearest cent as needed.)