An amount of $1500 is invested at an interest rate of 7.8 % compounded continuously. What...
Suppose that Po is invested in a savings account in which interest is compounded continuously at 59% per year. That is, the balance P grows at the rate given by the following equation dP 0.059P(t) dt (a)Find the function P(t) that satisfies the equation. Write it in terms of Po and 0.059. (b)Suppose that $1500 is invested. What is the balance after 2 years? (c)When will an investment of $1500 double itself? (a) Choose the correct answer below. Po P(t)...
For the following amount at the given interest rate compounded continuously, find (a) the future value after 5 years, (b) the interest earned, and (c) the time to reach $17,000. $5300 at 3.6% a. The future value after 5 years is approximately $. (Do not round until the final answer. Then round to the nearest cent as needed.) b. The interest earned is. (Do not round until the final answer. Then round to the nearest cent as needed.) c. The...
an account at an interest rate r compounded conltinuously, then the amount A (caled the future value of P) in the account t years from now wil be A P Solving the equation for P, we get PrAcft, In this formulation, Pis called the present value of the investment. (a) Find the present value of $400,000 at 6% compounded continuously for 25 years (b) Find the interest rate compounded continuously that is needed to have $40,000 be the present value...
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.)
An investment pays 5% interest compounded continuously. If money is invested steadily at the rate of $14,000, how much time is required until the value of the investment reaches $140,000? The amount of time required is approximately years. (Type an integer or decimal rounded to the nearest hundredth as needed.)
a. $4,200 is invested with a 5.2 % APR compounded continuously. What is the value of the investment after 13 years? Preview b. $700 is invested with a 3.5% APR compounded continuously. What is the value of the investment after 13 years? Preview c. $2,100 is invested with a 4.6% APR compounded continuously. What is the value of the investment after 13 years? Preview Submit Question 1. Points possible: 3 Unlimited attempts. Message instructor about this question Post this question...
If $3500 is invested in an account earning 11% annual interest compounded continuously, then the number of years that it takes for the amount to grow to $7000 is In 2 0.11 Find the number of years The approximate number of years for the amount to grow to $7000 is years. (Do not round until the final answer. Then round to the nearest tenth as needed.)
Suppose we want to find the future value of $6,000 invested at 8.5% compounded continuously for 7 years. ir mt A. Periodic Compound Interest: S = P(1+ – m / B. Continuously Compounded Interest: S = Pe” [(1 + 5)mt – 1] C. Future Value of an Ordinary Annuity: S = R || 11- D. Present Value of an Ordinary Annuity: P = R Il + 1. Choose the correct formula above for this scenario. - 2. What is the...
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
An college savings fund will be worth $34,000 in 10 years. Find the present value if interest is at 4.4% compounded continuously. The correct formula to calcuate the present value is: O A. Po = 34,000(1 +0.044)10 O B. Po = 34,000(1 +0.044) – 10 OC. Po = 34,000 e (0.044/(10) OD. Po = 34,000 e - (0.044)(10) O E. None of the above The present value is $ (Round to the nearest cent as needed.) 3. (7 points) Find...