Find the cost of each item in 11 years, assuming an inflation rate of 11% (compounded continuously). (Round your answers to the nearest cent.)
(a) phone bill, $41
$
(b) pair of shoes, $67
$
(c) new suit, $335
$
(d) monthly rent, $575
$
Find the cost of each item in 11 years, assuming an inflation rate of 11% (compounded...
Find the cost of each item in 11 years, assuming an inflation rate of 11% (compounded continuously). (Round your answers to the nearest cent.) (a) phone bill, $41 $ (b) pair of shoes, $67 $ (c) new suit, $335 $ (d) monthly rent, $575 $
Find the cost of each item in 10 years, assuming an inflation rate of 7% (compounded continuously). (Round your answers to the nearest cent.) (a) movie admission, $9.00 $ (b) CD, $13.95 $ (c) textbook, $130.00 $ (d) electric bill, $145 $ (e) phone bill, $35 $ (f) pair of shoes, $85 $ (g) new suit, $590 $ (h) monthly rent, $900 $
If 3000 dollars is invested in a bank account at an interest rate of 6 per cent per year, find the amount in the bank after 12 years if interest is compounded annually Find the amount in the bank after 12 years if interest is compounded quaterly Find the amount in the bank after 12 years if interest is compounded monthly Finally, find the amount in the bank after 12 years if interest is compounded continuously
an account at an interest rate r compounded conltinuously, then the amount A (caled the future value of P) in the account t years from now wil be A P Solving the equation for P, we get PrAcft, In this formulation, Pis called the present value of the investment. (a) Find the present value of $400,000 at 6% compounded continuously for 25 years (b) Find the interest rate compounded continuously that is needed to have $40,000 be the present value...
please answer correctly
nt Use the compound interest formulas A=P and A=Pento solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 6% if the money is a compounded semiannually; b.compounded quarterly. c. compounded monthly, d. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent. Do not include the $ symbol...
For the following amount at the given interest rate compounded continuously, find (a) the future value after 5 years, (b) the interest earned, and (c) the time to reach $17,000. $5300 at 3.6% a. The future value after 5 years is approximately $. (Do not round until the final answer. Then round to the nearest cent as needed.) b. The interest earned is. (Do not round until the final answer. Then round to the nearest cent as needed.) c. The...
Use the compound interest formulas A = and A=Pe" to solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 7% if the money is a compounded semiannually, b. compounded monthly compounded continuously a. What is the accumulated value if the money is compounded semiannually? $ (Round your answer to the nearest cent) b. What is the accumulated value if the money is...
First, the bond pays 113+6t per year for 10 years. Second, the interest rate is 8% compounded continuously. Round your answer to the nearest cent
Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $9411.44 at 3.3% compounded annually for 4 years The present value is $ (Do not round until the final answer. Then round to the nearest cent as needed.) Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated. $5600 at 4% compounded quarterly for...
2. My Assuming that the annual rate of inflation averages 2% over the next 15 years, the approximate costs C of goods or services during any year in that decade will be modeled by at)- 1.02), where t is the time in years and p is the present cost. The price of an oil change for your car is presently $25.84. Estimate the price 15 years from now. (Round your answer to the nearest cent.)