If 5300 dollars is invested at an interest rate of 6 percent per year, find the...
If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year,Find the amount in the bank after 13 years if interest is compounded annually:Find the amount in the bank after 13 years if interest is compounded quarterly:Find the amount in the bank after 13 years if interest is compounded monthly:Finally, find the amount in the bank after 13 years if interest is compounded continuously:
Round the answers to the nearest cent please .
Points) DETAILS SPRECALC7 4.2.035. $500 is invested at an interest rate of 2.5% per year, find the amount of the investment at the end of 15 years for the following compounding methods.( (a) Annually $ (b) Semiannually $ (c) Quarterly $ (d) Continuously $
A population numbers 14,000 organisms initially and grows by 8.8% each year. Suppose P represents population, and t the number of years of growth. An exponential model for the population can be written in the form P = a.b' where P = If 24500 dollars is invested at an interest rate of 10 percent per year, find the value of the investment at the end of 5 years for the following compounding methods, to the nearest cent. (a) Annual: $...
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
5-4: Finding the Interest Rate, I 5-16: Comparing Interest Rates Effective rate of interest Find the interest rates earned on each of the following. Round each answer to two decimal places. a. You borrow $700 and promise to pay back $770 at the end of 1 year. % b. You lend $700 and the borrower promises to pay you $770 at the end of 1 year. c. You borrow $58,000 and promise to pay back $182,802 at the end of...
what is the answer for a, b, c and D
Practice 56: Exponential Models Score: 70/120 9/12 answered Question 1 < > Score on last try: 0 of 10 pts. See Details for more. > Next question You can retry this question below If 35000 dollars is invested at an interest rate of 10 percent per year, find the value of the investment at the end of 5 years for the following compounding methods. (a) Annual: Your answer is (b)...
Red Company invested $20,000 in a fund that was earning interest at a rate of 4.00% compounded semi-annually. After 3 years and 6 months, the company transferred these funds to another investment that was earning interest at 4.50% compounded monthly. a. What is the balance in the fund at the end of 3 years and 6 months? Round to the nearest cent b. What is the balance in the fund at the end of 6 years (from the initial investment)?...
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Suppose that P dollars in principal is invested for years at the given interest rates with continuous compounding. Determine the amount that the investment is worth at the end of the given time period. P = $8000, t = 13 yr a. 2% interest b. 4% interest c. 4.5% interest Part 1 out of 3 a. At a 2% interest rate, the investment will be worth $ at the end of 13 yr. 2Use the model...
How much will $20,000 invested today at 3 percent interest be worth in 5 years if it is compounded annually? How much will it be worth in 5 years if compounded monthly? Value Today- Rate- Number of years- Months per year- Compounding periods- Rate per quarter- Annual FV- Monthly FV-
n1 Use the model A - Pe" or A-P where A is the future value of P dollars invested at interest rater compounded continuously or n times per year for years. Victor puts aside $10,000 in an account with interest compounded continuously at 2.2%. How long will it take for him to earn $2000? Round to the nearest month. It will take approximately years and months for him to earn $2000. where A is the future value of P dollars...