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8) You invest in a bank account which pays 6 percent compounded continuously. You withdraw money...
You have $520 in an account which pays 4.3% compounded annually. If you invest your money for 10 years, then how many dollars of interest will you earn by the end of the term?
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...
a. You deposit $4000 in an account which pays 4% compounded continuously. How much will you have at the end of 20 years? Round to the nearest penny. b. Find the doubling time for 3% compounded continuously. Do not use the Rule of 72.
Question 5 1 pts You invest a sum of money in an account that pays 7.37% compounded continuously. How many weeks must you leave this sum invested to double your money? Express your answer in weeks to the nearest whole number of weeks.
Bank A pays 8% interest, compounded quarterly, on its money market account. The managers of bank B want its money market account’s effective annual rate to equal that of Bank A, but Bank B will compound interest on a monthly basis. What nominal, or quoted, rate must bank B set?
"You have three choices in placing your $18,000 in a bank account today for 8 years. Bank A pays 5.3% compounded annually. Bank B pays 4.62% compounded quatarly. Bank C pays 5.05% compounded continuously. Enter the amount of money that the best option would return after 8 years. There is no inflation."
You have $200,000 to invest for a year and have two choices. Bank A pays 8% annually, compounded annually. Bank B pays 8% annually, compounded quarterly. Which bank should you choose and why? A. Bank A since its effective annual rate is greater than that of Bank B. B. Bank B since its effective annual rate is greater than that of Bank A. C. It does not matter since their effective annual rate is the same 8%. D. Bank B...
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...
The Simple Bank offers a 8 percent simple interest on deposited money. The Not-So-Simple Bank pays 8 percent interest on deposited money, compounded annually. You can deposit your money in either one of these two banks. If your deposit equals $65,000, by how much more will your money grow if you deposit it into The Not-So-Simple Bank, rather than The Simple Bank, for a total of 8 years? (Do not round intermediate calculations and round your answer to 2...
Problem 1- Saving Money You want to deposit money into a bank account that pays 1.5% compounded monthly. Answer the following questions: f depositing $4000, how much is avaiable in the account at the end of S years? .How much do you have to deposit now in order to have $5000 available at the end of 5 years? Instead of depositing one sum of money at the beginning of the 5-year period, suppose you wish to make monthly payments. How...