Given the formula for interest compounded nn times per year A=P(1+rn)ntA=P(1+rn)nt, solve each of the following and round your answer to the nearest penny.
solve (a) and (b)
Given the formula for interest compounded nn times per year A=P(1+rn)ntA=P(1+rn)nt, solve each of the following...
Use the compound interest formulas A=P(1+r/n)nt and A=Pert to solve the problem given. Round answers to the nearest cent.Find the accumulated value of an investment of $15,000 for 5 years at an interest rate of 7 %if the money is a. compounded semiannually; b. compounded quarterly; c. compounded monthly; d. compounded continuously.a. What is the accumulated value if the money is compounded semiannually?b.What is the accumulated value if the money is compounded quarterly?c. What is the accumulated value if the...
please answer correctly nt Use the compound interest formulas A=P and A=Pento solve the problem given. Round answers to the nearest cent. Find the accumulated value of an investment of $25,000 for 4 years at an interest rate of 6% if the money is a compounded semiannually; b.compounded quarterly. c. compounded monthly, d. compounded continuously. a. What is the accumulated value if the money is compounded semiannually? (Round your answer to the nearest cent. Do not include the $ symbol...
Question 1 A bank features a savings account that has an annual percentage rate of r = 4.5% with interest compounded quarterly. Logan deposits $11,000 into the account. The account balance can be modeled by the exponential formula S(t) = P(1+)", nt Th where S is the future value, P is the present value, r is the annual percentage rate written as a decimal, n is the number of times each year that the interest is compounded, and t is...
(1 point) Recall that the formula for a simple interest amortized loan, with initial loan value Vo, monthly payments of size m, with interest compounded n times per year for t years at annual interest rate r is rtn.t rt Ben buys his $230,000 home and, after the $40,000 down payment, finances the remainder with a simple interest amortized loan. Ben can pay at most $1,200 per month for the loan, on which the lender has set an annual rate...
Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.)P = 40,000, r = 3, t = 15, m = 12I have gotten 10,000$ multiple times and it is not accepted as the answer.
Solve the following word problem by using Table 11-1. The rate of bacteria growth in a laboratory experiment was measured at 17% per hour. If this experiment is repeated and begins with 5 grams of bacteria, how much bacteria should be expected after 12 hours? Round to the nearest tenth of a gram. Click here for Table 11-1 Do not enter units in your answer. grams Solve the following word problem by using Table 11-2. Pinnacle Homes, a real estate...