Bus Econ 10.4.5 : Question Help 0 An investor deposits $6,000 into an account that pays...
Bus Econ 3.3.45 You can afford monthly deposits of S170 to an account that pays 2 4% compounded monthly How long will it be until you have S6 800 to buy a boat? Round to the next-higher month if not exact)
8) You invest in a bank account which pays 6 percent compounded continuously. You withdraw money continuously at a rate of $4000 per month. Let B be the balance in dollars and t be time in years. Suppose you initially start with $300000. 8a) (10 points) Set up a differential equation for this situation. Include the initial condition. Do NOT solve. 8b) (8 points) Find the equilibrium for your differential equation. Is it stable or unstable?
An investor transfers $400,000 into an IRA at age 60. The account pays 3.25% interest compounded continuously. He plans to withdraw $24,000 each year from the account in a near-continuous manner until the account is depleted. (i) What will be the value of the account after 10 years? (ii) What will be the value of the account after 20 years?
Question (3) Mary made five annual deposits of $6,000 in a savings account that pays interest at a rate of 6% per year. One year after making the last deposit, the interest rate changed to 10% per year. Five years after the last deposit, how much accumulated money can she withdraw from the account?
Bus Econ 10.6.19 E Question Help A company must pay a $304,000 settlement in 5 years. (a) What amount must be deposited now at 4% compounded semiannually to have enough money for the settlement? (b) How much interest will be earned? (c) Suppose the company can deposit only $100,000 now. How much more will be needed in u years? (d) Suppose the company can deposit $100,000 now in an account that pays interest continuously. What interest rate would they need...
In the year 2003, $1700 was invested in an account that pays interest at a 2% annual rate, compounded continuously. Let A (t) be the amount of money, in dollars, in the account at time t, where t = 0 corresponds to the year 2003. Write a formula for A (t) A(t) = 1700(1.02) A(t) = 1700(2) none of these A(t) = 1700(e) 0.02 A (t) = 1700 + 2+ In the year 2003, $1700 was invested in an account...
Jennifer has $6,000 invested in a money market account that pays 1.5% interest compounded monthly at the end of each month. She makes deposits at the end of each month of $250 . How much will she have in the account after 3 years? Enter Answer Complete your rough work (if any) in the space below ↑ Enter your Final Answer Here
5) An engineer deposits $500 per month into an account that pays 6% interest per year semi-annually (2 times a year). How much will be in the account at the end of 10 years? Assume no interperiod. a. d) 80,611 b. a) 60.029 c. b) 70,250 od.c) 75,890 QUESTION 6 6) What effective annual interest rate is equal to a nominal 6% per year, compounded continuously? a. d) 6.55% b. a) 6.10% C. c) 6.25% d. b) 6.18%
1. Suppose you have A, dollars to invest in a savings account eaming an annual interest rate of r percent compounded continuously. Furthermore, suppose that you make annual deposits of d dollars to the account. The differential equation governing this situation is dA =rA+d, AO) = Ao (a) Find an equation for the future value Ac) of the account by solving the aforementioned initial value problem. Be sure your solution is correct as this will be used for the remaining...
core: 0 of 1 pt HW Score: 75%, 4.5 of 6 p Bus Econ 5.4.50 Question Help A n w employee charged S 7640 on his credit card to relocate for his rst job. After noticing that the interest rate for his balance was 18% compounded monthly, he stopped charging on that account. He wishes to pay off his balance in 2 years using automatic payments sent at the end of each month. a. What monthly payment must he make...