Determine the principal P that must be invested at rate r = 3 1 2 %, compounded monthly, so that $700,000 will be available for retirement in t = 13 years
r = 3
1
2
%,
compounded monthly, so that $700,000 will be available for retirement in
t = 13
years. (Round your answer to the nearest cent.)
P = $
Homework Answers
If this is an error, you can recalculate using the correct %. I'll
use 31.2%.
Pt = Po(1+r)^n = $700,000.
r = (31.2%/12) / 100%=0.026 = Monthly % rate expressed as a decimal.
n = 12 comp./yr * 13yrs = 156 = The #
of compounding periods.
Po(1.026)^156 = 700,000.
Po = 700000 / (1.026)^156 = $12,767.61.
Add Answer to:
Determine the principal P that must be invested at rate
r = 3
1
2
%,
compounded monthly, so that $700,000 will be available for retirement in
t = 13
years
Find the accumulated amount А И the principal p is invested at the interest rate of...
Find the accumulated amount А И the principal p is invested at the interest rate of r year for t years. Use a 365 day year, Round your answer to the nearest cent. P-$40,000, r _ 5 %, t-e, compounded quarterly
a) Complete the table to determine the balance A for P dollars invested at rate r...
a) Complete the table to determine the balance A for P dollars invested at rate r for t years, compounded n times per year. (Round your answers to two decimal places.) P = $3500, r = 3.5%, t = 20 years n A 1 $ 2 $ 4 $ 12 $ 365 $ Continuous compounding $ B)Complete the table to determine the amount of money P that should be invested at rate r to produce a final balance of $120,000...
If $14,500 is invested at an annual rate of r % compounded monthly, then the total...
If $14,500 is invested at an annual rate of r % compounded monthly, then the total amount (principal and interest) accumulated after 14 years is given by the formula 168 A = 14,500 0.01r 1+ 12 Part 1 out of 2 a. Find the instantaneous rate of change of A with respect to r. What is A 'O)? Include units. The instantaneous rate of change of A with respect to r is A'(r)= || A'(6) (select) (round to two decimal...
Find the accumulated amount A if the principal Pis invested at the interest rate of r/year...
Find the accumulated amount A if the principal Pis invested at the interest rate of r/year for tyr. (Use a 365-day year. Round your answer to the nearest cent.) P = $230,000,- 7%, t = 5, compounded daily A=$ X Need Help? Read it Talk to a Tutor Submit Answer DETAILS [0/0.1 Points] PREVIOUS ANSWERS TANAPMATHS 4.1.021. PRACTICE ANG MY NOTES Find the effective rate corresponding to the given nominal rate. (Round your answer to two decimal places.) 12%/year compounded...
will give thumbs up Suppose that P dollars in principal is invested for years at the...
will give thumbs up
Suppose that P dollars in principal is invested for years at the given interest rates with continuous compounding. Determine the amount that the investment is worth at the end of the given time period. P = $8000, t = 13 yr a. 2% interest b. 4% interest c. 4.5% interest Part 1 out of 3 a. At a 2% interest rate, the investment will be worth $ at the end of 13 yr. 2Use the model...
If P dollars (aka principal) is invested at r% interest compounded annually, then the future value...
If P dollars (aka principal) is invested at r% interest compounded annually, then the future value of the investment after n years is given by the formula Future value = P(1 + r/100)n Demonstrate your ability to use C++ syntax to design and develop a program to accept the principal, interest rate and years and displayed the computed future value with 2 decimal places. Use the pow function for this computation. The loop is controlled via the sentinel value, ‘E’....
Complete the table to determine the balance A for P dollars invested at rate r for...
Complete the table to determine the balance A for P dollars invested at rate r for t years, compounded n times per year. (Round your answers to two decimal places.) P = $3500, r = 2.5%, t = 20 years A 365 Continuous compounding
What is the future value of $119,000 invested for 5 years at 8% compounded monthly? (a)...
What is the future value of $119,000 invested for 5 years at 8% compounded monthly? (a) State the type amortization future value present value ordinary annuity sinking fund (b) Answer the question. (Round your answer to the nearest cent.) $
3. a) b) Victoria invested her savings in a bank at 2.75% compounded monthly. How much...
3.
a)
b)
Victoria invested her savings in a bank at 2.75% compounded monthly. How much money did she invest to enable withdrawals of $3,000 at the beginning of every 6 months from the investment for 8 years, if the first withdrawal is to be made in 12 years? Round to the nearest cent How much would a business have to invest in a fund to receive $13,000 at the end of every month for 5 years? The fund has...
Find the periodic payment R required to amortize a loan of P dollars over t years...
Find the periodic payment R required to amortize a loan of P dollars over t years with interest charged at the rate of r%/year compounded m times a year. (Round your answer to the nearest cent.) P = 40,000, r = 5, t = 13, m =6
Find the accumulated amount А И the principal p is invested at the interest rate of r year for t years. Use a 365 day year, Round your answer to the nearest cent. P-$40,000, r _ 5 %, t-e, compounded quarterly
If $14,500 is invested at an annual rate of r % compounded monthly, then the total amount (principal and interest) accumulated after 14 years is given by the formula 168 A = 14,500 0.01r 1+ 12 Part 1 out of 2 a. Find the instantaneous rate of change of A with respect to r. What is A 'O)? Include units. The instantaneous rate of change of A with respect to r is A'(r)= || A'(6) (select) (round to two decimal...
Find the accumulated amount A if the principal Pis invested at the interest rate of r/year for tyr. (Use a 365-day year. Round your answer to the nearest cent.) P = $230,000,- 7%, t = 5, compounded daily A=$ X Need Help? Read it Talk to a Tutor Submit Answer DETAILS [0/0.1 Points] PREVIOUS ANSWERS TANAPMATHS 4.1.021. PRACTICE ANG MY NOTES Find the effective rate corresponding to the given nominal rate. (Round your answer to two decimal places.) 12%/year compounded...
will give thumbs up
Suppose that P dollars in principal is invested for years at the given interest rates with continuous compounding. Determine the amount that the investment is worth at the end of the given time period. P = $8000, t = 13 yr a. 2% interest b. 4% interest c. 4.5% interest Part 1 out of 3 a. At a 2% interest rate, the investment will be worth $ at the end of 13 yr. 2Use the model...
Complete the table to determine the balance A for P dollars invested at rate r for t years, compounded n times per year. (Round your answers to two decimal places.) P = $3500, r = 2.5%, t = 20 years A 365 Continuous compounding
What is the future value of $119,000 invested for 5 years at 8% compounded monthly? (a) State the type amortization future value present value ordinary annuity sinking fund (b) Answer the question. (Round your answer to the nearest cent.) $
3.
a)
b)
Victoria invested her savings in a bank at 2.75% compounded monthly. How much money did she invest to enable withdrawals of $3,000 at the beginning of every 6 months from the investment for 8 years, if the first withdrawal is to be made in 12 years? Round to the nearest cent How much would a business have to invest in a fund to receive $13,000 at the end of every month for 5 years? The fund has...
Most questions answered within 3 hours.
-
1a) According to the ideal gas law, _______________.
a. a gas has infinite volume at absolute...
asked 32 minutes ago -
Oakdale Fashions, Inc. had $245,000 in 2018 taxable income.
Using the tax schedule in Table 2.3...
asked 56 minutes ago -
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 2 hours ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 2 hours ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 2 hours ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 3 hours ago -
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 3 hours ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 4 hours ago -
Create a 32-run crossed array design with six control factors
and two noise factors such that...
asked 5 hours ago -
A 500g sample of sand from source A has the following amounts
retained on each sieve....
asked 5 hours ago -
In
your own words, please explain the essay by John Keynes wrote "The
End of Laissez...
asked 5 hours ago -
How are the matrix and pixels related? Why are smaller
pixels better for diagnostic quality?
asked 5 hours ago