Homework Answers
n = 6 * 12 = 72 months,
r = 4%/12 = 0.33% (monthly)
$700 = PV * (1 + 0.33%)72
$700 = PV * 1.2707
PV = $550.86
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HW18: Problem 4 Previous Problem Problem List Next Problem (4 points) What annual rate of interest compounded annually is required to double an investment in 8 years? Rate = 9 Preview My Answers Submit Answers You have attempted this problem 1 time. Your overall recorded score is 0%. You have unlimited attempts remaining. Page generated at 11/21/2019 at 06:18pm EST
HW18: Problem 8 Previous Problem Problem List Next Problem (4 points) If you make a deposit into a bank account, at what interest rate (compounded monthly) should you invest if you would like to double your investment in 38 months? (Note: Your answer should be accurate to two decimal places) Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining. Page generated at 11/21/2019 at 06:19pm EST WebWork © 1996-2018| theme: math4 |...
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