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An investment pays 5% interest compounded continuously. If money is invested steadily at the rate of...
Find the future value and interest earned if $8806.54 is invested for 9 years at 6%...
Find the future value and interest earned if $8806.54 is invested for 9 years at 6% compounded (a) serniannually and (b) continuously (a) The future value when interest is compounded semiannually is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed.) The interest earned is approximately $. (Type an integer or decimal rounded to the nearest hundredth as needed) (b) The future value when interest is compounded continuously is approximately $) (Type an integer or...
ats Find the future value and interest earned if $8904.56 is invested for 9 years at...
ats Find the future value and interest earned if $8904.56 is invested for 9 years at 5% compounded (a) semiannually and (b) continuously (a) The future value when interest is compounded semiannually is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed) The interest earned is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed) (b) The future value when interest is compounded continuously is approximately $ (Type an integer...
Christine O'Brien, who is self-employed, wants to investa. Choose the investment which will earn the most $80,000 in a pension plan. One investment offers 6% compounded quarterly. Another offers...
Christine O'Brien, who is self-employed, wants to investa. Choose the investment which will earn the most $80,000 in a pension plan. One investment offers 6% compounded quarterly. Another offers 5.75% compounded continuously. a. Which investment will earn the most interest in 5 years? b. How much more wil the better plan earn? C. What is the effective rate in each case? interest below O compounded continuously O compounded quarterly b. The difference is $ d. If Ms. O'Brien chooses the...
For the following amount at the given interest rate compounded continuously, find (a) the future value...
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...
Suppose $8000 is invested at 7% interest compounded continuously. How long will it take for the...
Suppose $8000 is invested at 7% interest compounded continuously. How long will it take for the investment to grow to $16000? Use the model A(t) = Pe" and round your answer to the nearest hundredth of a year. It will take years for the investment to reach $16000.
If $3500 is invested in an account earning 11% annual interest compounded continuously, then the number...
If $3500 is invested in an account earning 11% annual interest compounded continuously, then the number of years that it takes for the amount to grow to $7000 is In 2 0.11 Find the number of years The approximate number of years for the amount to grow to $7000 is years. (Do not round until the final answer. Then round to the nearest tenth as needed.)
An amount of $1500 is invested at an interest rate of 7.8 % compounded continuously. What...
An amount of $1500 is invested at an interest rate of 7.8 % compounded continuously. What will the final value of this investment be after 30 years? The correct formula to calculate the final value is O A. P=1500 e -(0.078)(30) OB. P= 1500(1 +0.078,30 OC. P = 1500(1 +0.078) - 30 OD. P=1500 e (0.078(30) O E. None of the above The investment will be worth $ after 30 years. (Round to the nearest cent as needed.)
How much will $100 grow to if invested at a continuously compounded interest rate of 7.75%...
How much will $100 grow to if invested at a continuously compounded interest rate of 7.75% for 9 years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) How much will $100 grow to if invested at a continuously compounded interest rate of 9% for 7.75 years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Consider an investment where $49,000 is invested for 15 years at 8% compounded continuously. How much...
Consider an investment where $49,000 is invested for 15 years at 8% compounded continuously. How much will this investment be worth after 15 years? (Round your answer to the nearest cent.) What is the total amount earned in compound interest? (Round your answer to the nearest cent.)
Suppose that $18,961 is invested at an interest rate of 5.7% per year, compounded continuously. a)...
Suppose that $18,961 is invested at an interest rate of 5.7% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t)= (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers b) The balance after 1...
Find the future value and interest earned if $8806.54 is invested for 9 years at 6% compounded (a) serniannually and (b) continuously (a) The future value when interest is compounded semiannually is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed.) The interest earned is approximately $. (Type an integer or decimal rounded to the nearest hundredth as needed) (b) The future value when interest is compounded continuously is approximately $) (Type an integer or...
ats Find the future value and interest earned if $8904.56 is invested for 9 years at 5% compounded (a) semiannually and (b) continuously (a) The future value when interest is compounded semiannually is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed) The interest earned is approximately $ (Type an integer or decimal rounded to the nearest hundredth as needed) (b) The future value when interest is compounded continuously is approximately $ (Type an integer...
Christine O'Brien, who is self-employed, wants to investa. Choose the investment which will earn the most $80,000 in a pension plan. One investment offers 6% compounded quarterly. Another offers 5.75% compounded continuously. a. Which investment will earn the most interest in 5 years? b. How much more wil the better plan earn? C. What is the effective rate in each case? interest below O compounded continuously O compounded quarterly b. The difference is $ d. If Ms. O'Brien chooses the...
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...
Suppose $8000 is invested at 7% interest compounded continuously. How long will it take for the investment to grow to $16000? Use the model A(t) = Pe" and round your answer to the nearest hundredth of a year. It will take years for the investment to reach $16000.
If $3500 is invested in an account earning 11% annual interest compounded continuously, then the number of years that it takes for the amount to grow to $7000 is In 2 0.11 Find the number of years The approximate number of years for the amount to grow to $7000 is years. (Do not round until the final answer. Then round to the nearest tenth as needed.)
An amount of $1500 is invested at an interest rate of 7.8 % compounded continuously. What will the final value of this investment be after 30 years? The correct formula to calculate the final value is O A. P=1500 e -(0.078)(30) OB. P= 1500(1 +0.078,30 OC. P = 1500(1 +0.078) - 30 OD. P=1500 e (0.078(30) O E. None of the above The investment will be worth $ after 30 years. (Round to the nearest cent as needed.)
Suppose that $18,961 is invested at an interest rate of 5.7% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b) What is the balance after 1 year? 2 years? 5 years? 10 years? c) What is the doubling time? a) The exponential growth function is P(t)= (Type exponential notation with positive exponents. Do not simplify. Use integers or decimals for any numbers b) The balance after 1...
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