Question

1. How much more interest will be earned if $7000 is invested for 6 years at 7% compounded continuously, instead of at 7% compounded quarterly.

2. How long does it take for an account containing $6000 to be worth $15,000 if the money is invested at 8.4% compounded monthly?

Answer #1

Find the interest earned on $25000.00 invested for 6 years at
4.5% interest compounded as follows.
a. Annually -Compounding annually, the interest earned is
b. Semiannually (twice a year) -Compounding semiannually, the
interest earned is
c. Quarterly -Compounding quarterly, the interest earned is
d. Monthly- Compounding monthly, the interest earned is
e. Continuously- . Compounded continuously, the interest earned
is

For a deposit of $1027 at 6.4% over 2 years, find the
interest earned if interest is compounded semiannually,
quarterly, monthly, daily, and continuously.
The interest earned if interest is compounded semiannually
is----
2
Find the present value of the following future amount.
$2000 at 10% compounded annually for 30 years
The present value is-----
3 Suppose a savings and loan pays a nominal rate of
1.4%
on savings deposits. Find the effective annual yield if interest
is compounded quarterly...

1)Sophie invested an amount of $24,000 in a mutual fund. After 3
years and 3 months the accumulated value of her investment was
$25,815.47. What is the quarterly compounded nominal interest rate
of the investment?
2)Helen heard that she could triple her money in 27 years if she
invested it in her friend's telecommunications business. What
nominal interest rate compounded quarterly does the business
offer?
3)If an investment grew to $15,000 in 2 years and the interest
amount earned was...

1. If you deposit $6,500 into an account paying 8% annual
interest compounded monthly, how much money will be in the account
after 7 years?
2. If you deposit $5,000 into an account paying 6% annual
interest compounded monthly, how long until there is $8,000 in the
account?
3. At 3% annual interest compounded monthly, how long will it
take to double your money?

* Engineering Economic Analysis
How much money must be invested in an account that pays 6% per
year in- terest to be worth $20,000 at the end of 8 years if
(forgetting leap years and making “convenient” assumptions):
(a) Interest is compounded annually ?
(b) Interest is compounded semi-annually ?
(c) Interest is compounded quarterly ?
On (c), provide the solutions using the Compound interest table
AND the formula AND the EAIR

How much will $8000 invested at 3 percent interest be worth in
three years if it is compounded annually? Quarterly? How much if
the interest rate is 5 percent?

Suppose that
$ 5,700
is invested at
5.3 %
annual interest rate, compounded monthly. How much money will be
in the account in
6 months?
24 years?

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...

1) if 3200 is invested for 6 years at 8% compunded quarterly,
how much will be in the account at the end of the 6 years, how much
interest will be earned over 6 years.
2) supposed the supply of x units of a certain product at price
p dollars per unit is give by p=14+6 In(4x+1). how many units of
this product will be supplied when the price is 6 dollars each.
Round to whole number)

If $600is invested at 8% compounded quarterly,what is the amount
after 5 years?How much interest is earned?

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 9 minutes ago

asked 10 minutes ago

asked 14 minutes ago

asked 28 minutes ago

asked 40 minutes ago

asked 40 minutes ago

asked 41 minutes ago

asked 51 minutes ago

asked 52 minutes ago

asked 52 minutes ago

asked 52 minutes ago

asked 57 minutes ago