We use the formula:
A=P(1+r/100)^n
where
A=future value
P=present value
r=rate of interest
n=time period.
a.A=$5200*(1.09)^9
=$5200*2.171893279
=$11293.85(Approx).
b.A=$8000*(1.08)^7
=$8000*1.713824269
=$13710.59(Approx).
c.A=$795*(1.13)^11
=$795*3.835861151
=$3049.51(Approx).
d.A=$20,000*(1.04)^5
=$20,000*1.216652902
=$24,333.06(Approx).
Problem 5-1 (similar to) (Compound interest) To what amount will the following investments accumu...
core: 0.25 of 1 p Problem 5-1 (similar to) (Compound interest) To what amount will the following investments accumulate? a. $4,900 invested for 8 years at 9 percent compounded annually b. $8,100 invested for 6 years at 8 percent compounded annually c. $800 invested for 13 years at 13 percent compounded annually d. $21,000 invested for 5 years at 6 percent compounded annually a. To what amount will $4,900 invested for 8 years at 9 percent compounded annually accumulate? 9,763.56...
(Compound interest) To what amount will the following investments accumulate? a. $5,200 invested for 9 years at 10 percent compounded annually. b. $7,900 invested for 7 years at 7 percent compounded annually c. $790 invested for 12 years at 12 percent compounded annually. d. $23,000 invested for 5 years at 4 percent compounded annually. a. To what amount will $5,200 invested for 9 years at 10 percent compounded annually accumulate? SIN (Round to the nearest cent.) nter your answer in...
To what amount will $5,200 invested for 9 years at 11 percent compounded annually accumulate? $5,200 invested for 9 years at 11 percent compounded annually will accumulate to $________(Round to the nearest cent.)
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(Related to Checkpoint 5.2) (Future value) To what amount will $5,000 invested for 8 years at 9 percent compounded annually accumulate? $5,000 invested for 8 years at 9 percent compounded annually will accumulate to $. (Round to the nearest cent.)