Question

Suppose 2000 $ is invested at an interest rate of 6.5% per year for 5 years....

Suppose 2000 $ is invested at an interest rate of 6.5% per year for 5 years. If it is compounded weekly, find the compound interest for the given investment.
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

*compounded weekly= 52 weeks per year.

--------

Answer solved as per given question.

If any doubts. Kindly drop your messages in comments box. ALL THE BEST. Thank you.

#staysafe

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
If 8200 dollars is invested at an interest rate of 7 percent per year, find the...
If 8200 dollars is invested at an interest rate of 7 percent per year, find the value of the investment at the end of 5 years for the following compounding methods. (a) Annual:    (b) Semiannual:    (c) Monthly: (d) Daily:
1) You plan to deposit $2000 each year into an account for the next 5 years....
1) You plan to deposit $2000 each year into an account for the next 5 years. The discount rate is 12% for the next 3 years and 15% after that. What is the value today of your 5 deposits of $2000 each? 2) An investment pays no cash flows for the next 3 years. After three years, the investment pays $1000 per year for 10 years. After that, the investment pays $2000 per year forever. The appropriate discount rate is...
1. Suppose that P200,000.00 is invested at a certain rate of interest compounded annually for two...
1. Suppose that P200,000.00 is invested at a certain rate of interest compounded annually for two years. If the accumulated interest at the end of 2 years is P42,000.00, find the rate of interest. 2.  A loan for P170,000 is to be paid in three years at the amount of P185,000 compounded annually. What is the effective rate of money? 3. If P3000 accumulates to P4500 when invested at a simple interest for ten years, what is the rate of interest?
If $500 is invested at an interest rate of 3.5% per year, find the amount of...
If $500 is invested at an interest rate of 3.5% per year, find the amount of the investment at the end of 10 years for the following compounding methods. (Round your answers to the nearest cent.) (a) Annually ？$ (b) Semiannually ？$ (c) Quarterly ？$   (d) Continuously ？$
If $500 is invested at an interest rate of 5.5% per year, find the amount of...
If $500 is invested at an interest rate of 5.5% per year, find the amount of the investment at the end of 15 years for the following compounding methods. (Round your answers to the nearest cent.) A.) Annually: $ B.) Semiannually: $ C.) Quarterly: $ D.) Continuously: $
1a.) Determine when, to the nearest year, $2,000 invested at 5% per year, compounded daily, will...
1a.) Determine when, to the nearest year, $2,000 invested at 5% per year, compounded daily, will be worth $10,000. 1b.)Calculate, to the nearest cent, the future value FV (in dollars) of an investment of $10,000 at the stated interest rate after the stated amount of time. 6% per year, compounded daily (assume 365 days/year), after 12 years 1c.) Compute the specified quantity. The simple interest on a $2,000 loan at 2% per year amounted to $360. At what time t...
On your birthday you received $100 which you invested at 6.5% interest, compounded annually. That investment...
On your birthday you received $100 which you invested at 6.5% interest, compounded annually. That investment is now worth $3,500. How many years have past?
The present value of a sum of money is the amount that must be invested now,...
The present value of a sum of money is the amount that must be invested now, at a given rate of interest, to produce the desired sum at a later date. Find the present value of $10,000 if interest is paid at a rate of 5% per year, compounded weekly, for 2 years. (Round your answer up to the nearest cent.)
1. Suppose that P dollars in principal is invested for t years at the given interest...
1. Suppose that P dollars in principal is invested for t 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 = $6000, t = 14 years a.) 3% interest b.) 4% interest c.) 4.5% interest Bethany needs to borrow $11,000. She can borrow the money at 4.5% simple interest for 4 years OR she can borrow at 5% with interest compounded continuously for 4...
Suppose $5,400 is invested in an account at an annual interest rate of 3.9% compounded continuously....
Suppose $5,400 is invested in an account at an annual interest rate of 3.9% compounded continuously. How long (to the nearest tenth of a year) will it take the investment to double in size? Answer:
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT