Narrative 11-1
Solve the following problems using either Tables 11-1 or 11-2
from your text. When necessary, create new table factors. (Round
new table factors to five decimal places, round dollars to the
nearest cent and percents to the nearest hundredth of a
percent)
Refer to Narrative 11-1. Calculate the compound interest on an investment of $18,000 at 8%, interest compounded quarterly, for 15 months.
Group of answer choices
$1,873.44
$18,788.21
$883.54
$8,725.35
Homework Answers
| $1,873.44 | |
| P = $18,000 | |
| n = 5 quarter | |
| r = 8% per annum | |
| r = 2% per quarter | |
| A = P (1+r/100)n | |
| A = $18,000 (1 + 2/100)5 | |
| A = $18,000 x 1.10408 | |
| A = $19,873.44 | |
| CI = A - P | |
| CI = $19,873.44 - $18,000 | |
| CI = $1,873.44 | |
Add Answer to:
Narrative 11-1
Solve the following problems using either Tables 11-1 or 11-2
from your text. When...
Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create...
Solve the following problems using either Tables
11-1 or 11-2 from your text. When necessary, create new table
factors. (Round new table factors to five decimal places, round
dollars to the nearest cent and percents to the nearest hundredth
of a percent)
Refer to Narrative 11-1. Simon invests $19,500, at 9%
interest, compounded annually for 11 years. Calculate the compound
amount for his investment.
Group of answer choices
$41,578.53
$59,622.88
$40,793.88
$50,318.39
9:19 2.ma 31% Table 11-1: Compound Interest Table...
Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create...
Solve the following problems using either Tables
11-1 or 11-2 from your text. When necessary, create new table
factors. (Round new table factors to five decimal places, round
dollars to the nearest cent and percents to the
nearest hundredth of a percent)
Refer to Narrative 11-1. George invests $12,500, at
12% interest, semiannually for 12 years. Calculate the compound
amount for his investment.
Table 11-1: Compound Interest Table (Future Value of $1 at Compound Interest) (1 of 2) CENGAGE Table...
Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create...
Solve the following problems using either Tables
11-1 or 11-2 from your text. When necessary, create new table
factors. (Round new table factors to five decimal places, round
dollars to the nearest cent and percents to the nearest hundredth
of a percent)
a.Refer to Narrative 11-1. Omar invests $3,000 at 12%
interest, compounded semiannually for 2 years. Calculate the
effective interest rate for his investment. (Round to nearest
hundredth percent)
b.Solve the following problems using either Tables
11-1 or 11-2...
Solve the following problems using either Tables 11-1 or 11-2 from your text. When necessary, create...
Solve the following problems using either Tables
11-1 or 11-2 from your text. When necessary, create new table
factors. (Round new table factors to five decimal places, round
dollars to the nearest cent and percents to the nearest hundredth
of a percent)
a.Refer to Narrative 11-1. Calculate the compound
interest on an investment of $45,000 at 6% interest, compounded
quarterly, for 3 years.
b.Refer to Narrative 11-1. You wish to have $17,000 in
11 years. Find how much you should...
Using Table 11-2 from your text, calculate the present value (principal) and the compound interest for...
Using Table 11-2 from your text, calculate the present value (principal) and the compound interest for the following investment, rounding to the nearest cent. Compound Term of Nominal Interest Present Compound Amount Investment Rate Compounded Value Interest $1,250 6 years 6% semiannually
Solve the following word problem by using Table 11-1. The First National Bank is offering a...
Solve the following word problem by using Table 11-1. The First National Bank is offering a 5-year certificate of deposit (CD) at 4% interest compounded quarterly; Second National Bank is offering a 5-year CD at 5% interest compounded annually. Round percentage answers to two decimal places. Round dollars to the nearest cent. Do not round intermediate calculations. Click here for Table 11-1 a. If you were interested in investing $6,000 in one of these CDs, calculate the compound amount of...
Score: 0 of 1 pt 3 of 20 (2 complete) HW Sce Problem 5-5 (similar to)...
Score: 0 of 1 pt 3 of 20 (2 complete) HW Sce Problem 5-5 (similar to) (Present value) What is the present value of the following future amounts? a. $900 to be received 9 years from now discounted back to the present at 11 percent b. $200 to be received 6 years from now disc be received 6 years from now discounted back to the present at 9 percent c. $1,100 to be received 13 years from now discounted back...
PROBLEMS 1 1. 2. What is the present worth of January 1, 1968 of $1295 on...
PROBLEMS 1 1. 2. What is the present worth of January 1, 1968 of $1295 on January 1, 1975, if interest is at 6%? How much would you have to invest at 6% interest on January 1, 1975 in order to accumulate $1.850 on January 1, 19817 3. If 1000 ($) is invested at 6% compound interest in January 1, 1971, how much will be accumulated by January 1, 1981? 4. What is the present value of a series of...
ONOFF Chap 5 Problems Due Friday by 11:59pm Points 15 Submitting a text entry box or...
ONOFF Chap 5 Problems Due Friday by 11:59pm Points 15 Submitting a text entry box or a file upload Use the examples provided here to work on the following problems (make sure you show all your work) Problem 1: Gabrielle just won $2.75 million in the state lottery. She is given the option of receiving a total of $1,400,000 now, or she can elect to be paid $110.000 at the end of each of the next 25 years. If Gabrielle...
Problem 12-2 (algorithmic) Question Help part of a new road. An analysis has shown that traffic...
Problem 12-2 (algorithmic) Question Help part of a new road. An analysis has shown that traffic density on the new road will justify a two-lane bridge at the present time. Because of uncertainty regarding future use of the structed n fhaving to widen the bridge to four lanes at various times in the future are as follows: Probability d. the time at which an extra two lanes will be required is currently being studied. The estimated probabilities Widen Bridge In...
Solve the following problems using either Tables
11-1 or 11-2 from your text. When necessary, create new table
factors. (Round new table factors to five decimal places, round
dollars to the nearest cent and percents to the nearest hundredth
of a percent)
Refer to Narrative 11-1. Simon invests $19,500, at 9%
interest, compounded annually for 11 years. Calculate the compound
amount for his investment.
Group of answer choices
$41,578.53
$59,622.88
$40,793.88
$50,318.39
9:19 2.ma 31% Table 11-1: Compound Interest Table...
Solve the following problems using either Tables
11-1 or 11-2 from your text. When necessary, create new table
factors. (Round new table factors to five decimal places, round
dollars to the nearest cent and percents to the
nearest hundredth of a percent)
Refer to Narrative 11-1. George invests $12,500, at
12% interest, semiannually for 12 years. Calculate the compound
amount for his investment.
Table 11-1: Compound Interest Table (Future Value of $1 at Compound Interest) (1 of 2) CENGAGE Table...
Solve the following problems using either Tables
11-1 or 11-2 from your text. When necessary, create new table
factors. (Round new table factors to five decimal places, round
dollars to the nearest cent and percents to the nearest hundredth
of a percent)
a.Refer to Narrative 11-1. Omar invests $3,000 at 12%
interest, compounded semiannually for 2 years. Calculate the
effective interest rate for his investment. (Round to nearest
hundredth percent)
b.Solve the following problems using either Tables
11-1 or 11-2...
Solve the following problems using either Tables
11-1 or 11-2 from your text. When necessary, create new table
factors. (Round new table factors to five decimal places, round
dollars to the nearest cent and percents to the nearest hundredth
of a percent)
a.Refer to Narrative 11-1. Calculate the compound
interest on an investment of $45,000 at 6% interest, compounded
quarterly, for 3 years.
b.Refer to Narrative 11-1. You wish to have $17,000 in
11 years. Find how much you should...
Using Table 11-2 from your text, calculate the present value (principal) and the compound interest for the following investment, rounding to the nearest cent. Compound Term of Nominal Interest Present Compound Amount Investment Rate Compounded Value Interest $1,250 6 years 6% semiannually
Score: 0 of 1 pt 3 of 20 (2 complete) HW Sce Problem 5-5 (similar to) (Present value) What is the present value of the following future amounts? a. $900 to be received 9 years from now discounted back to the present at 11 percent b. $200 to be received 6 years from now disc be received 6 years from now discounted back to the present at 9 percent c. $1,100 to be received 13 years from now discounted back...
PROBLEMS 1 1. 2. What is the present worth of January 1, 1968 of $1295 on January 1, 1975, if interest is at 6%? How much would you have to invest at 6% interest on January 1, 1975 in order to accumulate $1.850 on January 1, 19817 3. If 1000 ($) is invested at 6% compound interest in January 1, 1971, how much will be accumulated by January 1, 1981? 4. What is the present value of a series of...
ONOFF Chap 5 Problems Due Friday by 11:59pm Points 15 Submitting a text entry box or a file upload Use the examples provided here to work on the following problems (make sure you show all your work) Problem 1: Gabrielle just won $2.75 million in the state lottery. She is given the option of receiving a total of $1,400,000 now, or she can elect to be paid $110.000 at the end of each of the next 25 years. If Gabrielle...
Problem 12-2 (algorithmic) Question Help part of a new road. An analysis has shown that traffic density on the new road will justify a two-lane bridge at the present time. Because of uncertainty regarding future use of the structed n fhaving to widen the bridge to four lanes at various times in the future are as follows: Probability d. the time at which an extra two lanes will be required is currently being studied. The estimated probabilities Widen Bridge In...
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