Question

> webwork / ma162-su20 golenbiewski / hw18 / 5 HW18: Problem 5 Previous Problem Problem List Next Problem (1 point) Suppose you invest $16,275.00 into an account earning an interest rate of 2.936% compounded continuously for 1 year(s) and thereafter earning an interest rate of 3.701% compounded quarterly. How much money is in the account after 12 years? The amount in the account is (Note: Your answer should have a dollar sign and be accurate to two decimal places) Hint: Preview My Answers Submit Answers You have attempted this problem 4 times Your overall recorded score is 0% Vikthimin

Answer 1

soln Given Invented amount (P) = $ 16,275 Rated Intcust (8) = 209367. 0.02936 = Compounded countinuously for one year 7 ㅕ A = pert 0.02936 (I) A = 16,275 e A = $16759.917 न After Y = 3.701 4. 3.701 4. + 0.03701 t = 12 years Compounded Quately. ;.p=816759.917 & A = pli+ynt 4112) 타 A = 16759.917(1 + 0.03.70) N A = 16759.917 (1.5559 A $ 26,076.75 Amount in the account is $26, 076.75 The anon Invested amount (p) = $1,695.53 Rate Interest (8) = 5.234. 0.0523 Compounded Quately 7 A plitrynt

Aftu 5 years += 5; n = 4 A = 1,695.53 (1 + 4(5) C 0.05232 4 A = $ 2198.55 After to years 4(10) 0.0523 15. A = . !,695.53 ons and 14 $ 2850.89 #pleari gives a thumbs up