A certain loan program offers an interest rate of
4%
, compounded continuously. Assuming no payments are made, how much would be owed after two years on a loan of $2900
Do not round any intermediate computations, and round your answer to the nearest cent.
$ |
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Finding the final amount in a word problem on continuous
A certain loan program offers an interest rate of 4% compound continuously . Assuming no payments are made, how much would be owed after two years on a loan of 2900? Do not round any intermediate computations, and round your answer to the nearest cent.
please show answer before and after rounding Finding the rate or time in a word problem...
please show answer before and after rounding
Finding the rate or time in a word problem on continuous... Suppose that $1600 is initially invested in an account at a fixed interest rate, compounded continuously. Suppose also that, after four years, the amount of money in the account is $1766. Find the interest rate per year. Write your answer as a percentage. Do not round any intermediate computations, and round your percentage to the nearest hundredth. % per year х 5...
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10 11 2 X3 The Chens are saving up to go on a family vacation in 2 years. They invest $2400 into an account with an annual interest rate of 1.15% compounded quarterly. Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. ? D (a) Assuming no withdrawals are made, how much money is in the Chens' account after 2 years?...
The following equation gives the amount of money owed on a loan after a certain amount...
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What is the present value of a $500 perpetuity if the interest rate is 6%? If interest rates doubled to 12%, what would its present value be? Round your answers to the nearest cent. Present value at 6%: $ Present value at 12%: $ You borrow $85,000; the annual loan payments are $11,339.91 for 30 years. What interest rate are you being charged? Round your answer to the nearest whole number. You have saved $5,000 for a down payment on...
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Calculate the accumulated amount of end-of-month payments of $5,000 made at 3.21% compounded quarterly for 4 years. Round to the nearest cent How much should Austin have in a savings account that is earning 4.50% compounded quarterly, if he plans to withdraw $2,400 from this account at the end of every quarter for 9 years? Round to the nearest cent Zachary deposits $350 at the end of every quarter for 4 years and 6 months in a retirement fund at...
please show answer before and after rounding
Finding the rate or time in a word problem on continuous... Suppose that $1600 is initially invested in an account at a fixed interest rate, compounded continuously. Suppose also that, after four years, the amount of money in the account is $1766. Find the interest rate per year. Write your answer as a percentage. Do not round any intermediate computations, and round your percentage to the nearest hundredth. % per year х 5...
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O CONSUMER MATHEMATICS Finding the future value of an annuity An investor wants to save money to purchase real estate. She buys an annuity with monthly payments that earn 5% interest, compounded monthly. Payments will be made at the end of each month. Find the total value of the annuity in 15 years if each monthly payment is $71. Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list...
O CONSUMER MATHEMATICS Finding the future value of an annuity The Wilson family wants to save money to travel the world. They purchase an annuity with a monthly payment of $53 that earns 4% interest, compounded monthly Payments will be made at the end of each month. Find the total value of the annuity in 14 years Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial...
O CONSUMER MATHEMATICS Finding the future value of an annuity Dan wants to save money to open a tutoring center. He buys an annuity with a quarterly payment of $118 that pays 3.4% Interest, compounded quarterly. Payments will be made at the end of each quarter. Find the total value of the annuity in 7 years. Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas....
O CONSUMER MATHEMATICS Finding the future value of an annuity To save morvey for his daughter's college tuition, Chris invests $1014 every year in an annuity that pays 6.9% Interest, compounded annually. Payments will be made at the end of each year. Find the total value of the annuity in 22 years. Do not found any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of Pinancial formulas
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