12. $24,000 is invested in an account that pays 6% annual interest compounded monthly. What will...
10. $27,000 is invested in an account that pays 6% annual interest compounded quarterly. a. What will be the value of the account after 6 years? b. Find the year when the account will be worth $68,000?
Question 7 If A, dollars are invested at annual interest rate r, compounded monthly, then after years the account will have grown to 12: A) = A 1 + 12 If $3000 is placed into an account eaming 10% annual interest, compounded monthly, how much will it grow to after 10 years? (1-2) $6607.30 $8121.12 $8230.43 $6944.62
12. Compound interest. You invest $1000 in an account that pays 5% compounded annually. What is the balance after two years? 13. Compounding using different periods. You invest $2000 in an account that pays an APR of 6%. a. What is the value of the investment after three years if interest is compounded yearly? Round your
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
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
154. How much money must be invested in an account that pays 6% per year in- terest to be worth $20,000 at the end of 8 years if (forgetting leap years and making "convenient" assumptions): a. Interest is compounded annually? onomani a b. Interest is compounded semi-annually? c. Interest is compounded quarterly? Wo b d. Interest is compounded monthly? no wo o e. Interest is compounded weekly? f. Interest is compounded daily? g. Interest is compounded hourly? h. Interest is...
4) Townville Bank offers a savings account that pays 3.25% annual interest compounded monthly. a) What is the yield (APY) on this account? Round to the nearest hundredth of a percent. [5 pt] b) If Amy makes a deposit of $15,000 into this account, how much will be in her account after 8 years? [8 pt]
8. $1000 is invested in a saving account with an annual interest rate 4%. Find the balance of the account after 15 years in the following situations (round each answer to its nearest 100th): (i) The interest is compounded annually. (ii) The interest is compounded monthly. (iii) The interest is compounded continuously.
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: