In the year 2003, $1700 was invested in an account that pays interest at a 2%...
Use the model A Peor A-P1+ where is the future value of dollars invested at interest rater compounded continuously or times per year for years. If $14,000 is invested in an account earning 7.5% interest compounded continuously, determine how long it will take the money to double. Round up to the nearest year. It will take approximately 9.3 years.
Bus Econ 10.4.5 : Question Help 0 An investor deposits $6,000 into an account that pays 4% compounded continuously, and then begins to withdraw from the account continuously at a rate of $1,400 per year. a. Write a differential equation to describe the situation. b. How much will be left in the account after 2 years? c. When will the account be completely depleted? a. Find the differential equation. Let A represent the account balance in dollars, and let t...
14.Compound Interest hank account pays compound interest, it pays interest not only on the principal amount that was deposited into the account, but also on the interest that has accumulated over time. Suppose you want to deposit some money into a savings account, and let the account earn compound interest for a certain number of years. The formula for calculating the balance of the account afer a specified namber of years is The terms in the formula are A is...
Use the model A=pe" or AFP where A is the future value of P dollars invested at interest rate r compounded continuously or n times per year for t years. If a couple has $40,000 in a retirement account, how long will it take the money to grow to $1,000,000 if it grows by 5.5% compounded continuously? Round up to the nearest year. It will take approximately years.
10. $27,000 is invested in an account that pays 6% annual interest compounded quarterly. a. What will be the value of the account after 6 years? b. Find the year when the account will be worth $68,000?
13. The average retail prescription price of drugs in dollars from 2002 to 2004 is described in the following table as y. Price, y, in dollars Y ear 2002 55.37 2003 59.52 2004 63.59 Use a system of equations to find the equation of the parabola y = at2 + bt+c that passes through the points. Let t 2 correspond to 2002. Solve the system and write the equation of the parabola that passes through these points. 19, what is...
Trey invested $72,000 in an account that pays 7.00 percent APR interest compounded quarterly (four times a year). How much money will he have at the end of 5 years?
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)
If 7000 dollars is invested in a bank account at an interest rate of 6 per cent per year,Find the amount in the bank after 13 years if interest is compounded annually:Find the amount in the bank after 13 years if interest is compounded quarterly:Find the amount in the bank after 13 years if interest is compounded monthly:Finally, find the amount in the bank after 13 years if interest is compounded continuously:
Suppose that is invested in a savings account in which interest, k, is compounded continuously at 3% per year. The balance P(t) after time t, in years, is P(t) = Pekt a) What is the exponential growth function in terms of P and 0.03? P(t)=0