Question 7 If A, dollars are invested at annual interest rate r, compounded monthly, then after...
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
If $14,500 is invested at an annual rate of r % compounded monthly, then the total amount (principal and interest) accumulated after 14 years is given by the formula 168 A = 14,500 0.01r 1+ 12 Part 1 out of 2 a. Find the instantaneous rate of change of A with respect to r. What is A 'O)? Include units. The instantaneous rate of change of A with respect to r is A'(r)= || A'(6) (select) (round to two decimal...
The good news - saving $10 per month We continue with the same example: you deposit $10 per month into a savings account with an annual interest rate of 30%, compounded monthly. Use your formula f(r) to answer the following questions. (a) Determine the amount in the account after 1 year. How much is interest? (b) Determine the amount in the account after 10 years. How much is interest? (c) Determine the amount in the account after 45 years. How...
Find the compound interest if RM1000 is invested for five years at an annual interest rate of 7%compounded :a) quarterlyb) monthlyc) weekly
12. $24,000 is invested in an account that pays 6% annual interest compounded monthly. What will be the value of the account after 6 years? Also find the year when the account will be worth $72,000? I 13. Find the inverse of f(x) = x +1 then evaluate: ( ff)(x) and (f. f(x)
6. What will $150,000 grow to be in 15 years if it is invested in an account with a quoted annual interest rate of 10% with monthly compounding of interest? 7. How many years will it take for $200,000 to grow to be $600,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest? 8. At what quoted annual interest rate must $135,000 be invested so that it will grow to be $460,000...
QUESTION 6 Melanie invests her inheritance of $50,000 at 7% annual percentage rate compounded monthly for 30 years. How much she will have after 30 years? In order to solve the problem above, which of the formula will you use? 7 (12x30) 50,000 = Po 1 + 12 Po(1 + ?) a. (12x30) P = 50,000 1 + 7 12 (12x30) 50,000 = Po 1 + 0.07 12 Po( ( 1 (12x30) == Od. Р 50,000 (1 + 0.07 12
Consider a 30-year mortgage with an interest rate of 10% compounded monthly and a monthly payment of $850. (1) Calculate the principal. (2) How much of the principal is paid the first, 5th, 20th and last year? (3) How much interest is paid the first, 5th, 20th and last year year? (4) What is the total amount of money paid during the 30 years? (5) What is the total amount of interest paid during the 30 years? (6) What is...
If $2000 is invested in an account that is compounded quarterly with an annual interest rate of 3%, then the amount of money in the account after 3 years is given 3 byA36 = 2000(1 + 1200 36 True False
1. Suppose you have A, dollars to invest in a savings account eaming an annual interest rate of r percent compounded continuously. Furthermore, suppose that you make annual deposits of d dollars to the account. The differential equation governing this situation is dA =rA+d, AO) = Ao (a) Find an equation for the future value Ac) of the account by solving the aforementioned initial value problem. Be sure your solution is correct as this will be used for the remaining...