Use the formula for continuous compounding to compute the balance in the account after 1, 5,...
Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account. A $15,000 deposit in an account with an APR of 2.5%. The balance in the account after 1 year is approximately $__ (Round to the nearest cent as needed.) The balance in the account after 5 years is approximately $___. (Round to the nearest cent as needed.) The balance in the account after 20...
Use the formula for continuous compounding to compute the balance in the account after 1,5, and 20 years. Also, find the APY for the account. A $8000 deposit in an account with an APR of 3.1%. The balance in the account after 1 year is approximately $1. (Round to the nearest cent as needed.) The balance in the account after 5 years is approximately (Round to the nearest cont as needed.) The balance in the account after 20 years is...
Can you help me solve this please? Use the formula for continuous compounding to compute the balance in the account after 1,5, and 20 years. Also, find the APY for the account. A $7000 deposit in an account with an APR of 3.9% - The balance in the account after 1 year is approximately $ (Round to the nearest cent as needed.) The balance in the account after 5 years is approximately $ (Round to the nearest cent as needed.)...
Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account. A $6000 deposit in an account with an APR of 4.2%
Use the appropriate compound interest formula to compute the balance in the account after the stated period of time $7,000 is invested for 11 years with an APR of 2% and monthly compounding, The balance in the account after 11 years is $ 924,000.38 (Round to the nearest cent as needed.)
Use the compound interest formula to compute the balance in the following account after the stated period of time, assuming interest is compounded annually. $12000 invested at an APR of 3.1% for 20 years. The balance in the account after 20 years is $ ___ (Round to the nearest cent as needed.)
Use the compound interest formula for compounding more than once a year to determine the accumulated balance after the stated period. 9) $7000 deposit at an APR of 5% with semiannual compounding for 10 years A) $11,402.26 B) $11,470.32 C) $8960.59 D) $10,500.00 D) $300.00 10) $3000 deposit at an APR of 2% with daily compounding for 5 years C) $3315.51 B) $2843.46 A) $3012.02
If an account has an APR of 3%, compounded monthly, what is the APY? Give your answer as a percentage (but leave out the % symbol) and round to 2 decimal places. Suppose you put $1200 in a savings account at an APR of 5% compounded quarterly. How much interest was earned after 4 years? Round to the nearest cent and leave off the $ symbol.
Calculating deposit needed You put $6,000 in an account earning 3%. After 5 years, you make another deposit into the same account. Three years later (that is, 8 years after your original 56.000 deposit), the account balance is $21,000. What was the amount of the deposit at the end of year 5? The amount of the deposit at the end of year 5 is $ (Round to the nearest cent.)
can someone please help me QUESTION 2 Find the annual percentage yield (APY) of an account with an APR of 5.6% compounded monthly. Round to two decimal places. QUESTION 3 Find the savings plan balance after 5 years with an APR of 8.8% and monthly payments of $572. QUESTION 4 You intend to create a college fund for your baby. If you can get an APR of 7% and want the fund to have a value of $158,962 after 16...