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Recently, a certain bank offered a 10-year CD that earns 5.66% compounded continuously....
Recently, a certain bank offered a 10-year CD that earns 13.4% compounded continuously. Use the given...
Recently, a certain bank offered a 10-year CD that earns 13.4% compounded continuously. Use the given information to answer the questions. (a) If $40,000 is invested in this CD, how much will it be worth in 10 years? approximately $ (Round to the nearest cent.) (b) How long will it take for the account to be worth $60,000? approximately years (Round to two decimal places as needed.)
This Question: 1 pt 3 of 24 (2 complete) Recently, a certain bank offered a 5-year...
This Question: 1 pt 3 of 24 (2 complete) Recently, a certain bank offered a 5-year CD that earns 12.15% compounded continuously. Use the given information to answer the questions. (a) If $20,000 is invested in this CD, how much will it be worth in 5 years? approximately $ (Round to the nearest cent.) (b) How long will it take for the account to be worth $50,000? approximately years (Round to two decimal places as needed.)
Question Help A man with $20,000 to invest decides to diversify his investments by placing S 10 000 n an account that earns 5 2% compounded continuously and S 10,000 in an account that earns 6 4%...
Question Help A man with $20,000 to invest decides to diversify his investments by placing S 10 000 n an account that earns 5 2% compounded continuously and S 10,000 in an account that earns 6 4% compounded annually Use graphical approx mation methods to determne how ion wil take to his total invest en n he t econ s to grow to $35,000 It will take approximately 11.79 years for his total investment in the two accounts to grow...
Jim places $10,000 in a bank account that pays 11.6% compounded continuously. After 2 years, will...
Jim places $10,000 in a bank account that pays 11.6% compounded continuously. After 2 years, will he have enough money to buy a car that costs $12,618? If another bank will pay Jim 12% compounded semiannually, is this a better deal? After 2 years, Jim will have $ (Round to the nearest cent as needed.) Jim will have enough money to buy the $12,618 car after 2 years. After 2 years, the other bank will yield $ (Round to the...
Bank One offered a 10-year certificate of deposit (CD) at 4.8% interest compounded quarterly. On the...
Bank One offered a 10-year certificate of deposit (CD) at 4.8% interest compounded quarterly. On the same day on the Internet, First Bank offered a 10-year CD at 4.79% compounded monthly. Find the APY for each CD. Which bank paid a higher APY? The APY for the CD at Bank One is % (Type an integer or decimal rounded to three decimal places as needed.) The APY for the CD at First Bank is % (Type an integer or decimal...
Sunshine Bank & Trust is offering a CD that pays 7.5% compounded continuously. How much interest...
Sunshine Bank & Trust is offering a CD that pays 7.5% compounded continuously. How much interest would a $3,000 deposit earn over 5 years? (Round your answer to the nearest dollar.) Selct one: a. $4,365 b. $1,365 c. $4,125 d. $1,125
An initial investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth...
An initial investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $ Need Help? Read Watch It Talk to a Tutor
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.)
i think you could ise this method An initial investment of $3,000 earns 6% interest compounded...
i think you could ise this method
An initial investment of $3,000 earns 6% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $10709.92 x Submission 2 (0/1 points) Wednesday, July 29, 2020 10:52 PM CDT An initial Investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $ 7789.92 x Submission 3 (0/1 points) Wednesday,...
A particular savings bank pays 6% annual interest compounded continuously. How much will a deposit of...
A particular savings bank pays 6% annual interest compounded continuously. How much will a deposit of $4000 amount to for each time period? Hint: Convert months to days. When needed, use 365 days per year and 30 days per month a. 6 years b. 9 years 9 months c. 4 years 11 months 24 days d. 20 years 213 days a. The amount accumulated after 6 years is $ (Round to the nearest cent as needed.) 1 b. The amount...
Recently, a certain bank offered a 10-year CD that earns 13.4% compounded continuously. Use the given information to answer the questions. (a) If $40,000 is invested in this CD, how much will it be worth in 10 years? approximately $ (Round to the nearest cent.) (b) How long will it take for the account to be worth $60,000? approximately years (Round to two decimal places as needed.)
This Question: 1 pt 3 of 24 (2 complete) Recently, a certain bank offered a 5-year CD that earns 12.15% compounded continuously. Use the given information to answer the questions. (a) If $20,000 is invested in this CD, how much will it be worth in 5 years? approximately $ (Round to the nearest cent.) (b) How long will it take for the account to be worth $50,000? approximately years (Round to two decimal places as needed.)
Question Help A man with $20,000 to invest decides to diversify his investments by placing S 10 000 n an account that earns 5 2% compounded continuously and S 10,000 in an account that earns 6 4% compounded annually Use graphical approx mation methods to determne how ion wil take to his total invest en n he t econ s to grow to $35,000 It will take approximately 11.79 years for his total investment in the two accounts to grow...
Jim places $10,000 in a bank account that pays 11.6% compounded continuously. After 2 years, will he have enough money to buy a car that costs $12,618? If another bank will pay Jim 12% compounded semiannually, is this a better deal? After 2 years, Jim will have $ (Round to the nearest cent as needed.) Jim will have enough money to buy the $12,618 car after 2 years. After 2 years, the other bank will yield $ (Round to the...
Bank One offered a 10-year certificate of deposit (CD) at 4.8% interest compounded quarterly. On the same day on the Internet, First Bank offered a 10-year CD at 4.79% compounded monthly. Find the APY for each CD. Which bank paid a higher APY? The APY for the CD at Bank One is % (Type an integer or decimal rounded to three decimal places as needed.) The APY for the CD at First Bank is % (Type an integer or decimal...
An initial investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $ Need Help? Read Watch It Talk to a Tutor
i think you could ise this method
An initial investment of $3,000 earns 6% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $10709.92 x Submission 2 (0/1 points) Wednesday, July 29, 2020 10:52 PM CDT An initial Investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $ 7789.92 x Submission 3 (0/1 points) Wednesday,...
A particular savings bank pays 6% annual interest compounded continuously. How much will a deposit of $4000 amount to for each time period? Hint: Convert months to days. When needed, use 365 days per year and 30 days per month a. 6 years b. 9 years 9 months c. 4 years 11 months 24 days d. 20 years 213 days a. The amount accumulated after 6 years is $ (Round to the nearest cent as needed.) 1 b. The amount...
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