if $100 is put in a bank account with a 5% interest rate, the money will become
Pt=100⋅1+0.05t
after t years. How long will it take for the money to double?
if $100 is put in a bank account with a 5% interest rate, the money will...
You deposit $8000 in an account earning 5% interest compounded continuously. The amount of money in the account after t years is given by A(t)- 8000e0.06. How much will you have in the account in 3 years? SL Round your answer to 2 decimal places. How long will it be until you have $13300 in the account? decimal places. years. Round your answer to 2 How long does it take for the money in the account to double? decimal places....
5) Archaic Bank only offers Simple Interest Accounts at 2%. If you opened an account with $1000, how much would be in your account after 5 years? 6) You open an account at another bank paying compound interest. If you put $1000 in the account and the interest rate is 2%, how much will you have after 5 years if the money is a) Compounded annually b) Compounded quarterly 7) You found an old baseball card that increasing in value...
1a.Suppose the bank changed the interest policy to 7% interest, compounded quarterly, how much money would be in the account at the end of 2 years, assuming a $400 deposit now? b.How long will it take for your money to double at 13% nominal interest, compounded continuously?
Suppose a bank offers a savings account with the interest rate of 6% compounded annually. If you deposit $100, how long does it take to triple your money if you do not withdraw any from your account?
Suppose you put $100 in the bank on January 1, 2017. If the annual nominal interest rate is 5 percent and the inflation rate is 5 percent, you will be able to buy ________ worth of inflation-adjusted goods on January 1, 2018. a. $110 b. $95 c. $100 d. $105 e. $90 Practically, in the long run the real interest rate is equal to: a. a savings account. b. the marginal product of capital. c. the rate of return to...
Problem 1.8 You deposit $5,000 in an account earning 5% interest compounded semi-annually for 2 years and 7% interest compounded quarterly thereafter. What is the account value after 7 years? Problem 1.9 What is the equivalent effective annual (compound) interest rate in Problem 1.8? Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years 1 and 2, and thereafter a continuous rate δ(t) = 2/(t + 1) (t > 0). What is the value...
Problem 1.8 You deposit $5,000 in an account earning 5% interest compounded semi-annually for 2 years and 7% interest compounded quarterly thereafter. What is the account value after 7 years? Problem 1.9 What is the equivalent effective annual (compound) interest rate in Problem 1.8? Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years 1 and 2, and thereafter a continuous rate δ(t) = 2/(t + 1) (t > 0). What is the value...
Question 5 We invest $ 100 in a bank that offers 4% nominal interest rate compounded monthly. How long (how many years) will it take to earn $20 in interest?
Part 1 - Average Value $100 is deposited in a bank at 5% interest compounded continuously. What will the average value of the money in the account be during the next 20 years? Hint: For the f(x) function you will need to find an expression for the amount of money in the account after t years.
6. Suppose a family is depositing money into a bank account continuously at the rate of about $10,000 per year, and the account earns interest of 4% annually (compounded continuously). The family began their first year with $23,000 in the account. Assuming they don't make any withdrawals, how much money is in the account after 4 years? Derive the equation to be used 6. Suppose a family is depositing money into a bank account continuously at the rate of about...