Question

Find the accumulated amount after 4 years if: Principal = $150,000, interest rate is 6% and...

Find the accumulated amount after 4 years if: Principal = $150,000, interest rate is 6% and is compounded monthly.

Math   Advanced-Math   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

I have provided detailed answer but if you have doubts please ask. I'd love to help.
It's a humble request to please upvote the answer. I really need this help now. Please.
Have a nice day

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
We know that when a particular amount of money P, called the principal, is invested at...
We know that when a particular amount of money P, called the principal, is invested at the interest rate r and is compounded n times a year, the amount of A of money accumulated after t years is A(t)=P(1+r/n)^nt Rounded to the nearest cent, find the amount of money accumulated if $ 5 , 000 is invested for 2 years at 6 % interest and is compounded. Quarterly: $ Monthly: $ Daily(assuming 365 days in a year): $ Coutinuously: $
For 1 and 2 find the compound amount on the given original principal at the compound...
For 1 and 2 find the compound amount on the given original principal at the compound interest rate for the indicated term: 1. $1200 for 4 years at 4.2% compounded annually. 2. $800 for 5 years at 4% compounded monthly. 3. If you deposit $6800 into an account paying 5% annual interest compounded quarterly, how much will be in the account after 10 years if you make no withdrawals? 4. Suppose you are depositing an amount today in an account...
Find the accumulated value of an investment of $ 25,000 for 3 years at an interest...
Find the accumulated value of an investment of $ 25,000 for 3 years at an interest rate of 7% if the money is a. compounded​ semiannually b. compounded​ quarterly c. compounded monthly d. compounded continuously.
Some amount of principal is invested at a 7.4% annual rate, compounded monthly. The value of...
Some amount of principal is invested at a 7.4% annual rate, compounded monthly. The value of the investment after 7 years is $2185.76. Find the amount originally invested. Round to two decimal places AND Nathan invests $1000 into an account earning interest at an annual rate of 4.7%, compounded annually. 4 years later, he finds a better investment opportunity. At that time, he withdraws his money and then deposits it into an account earning interest at an annual rate of...
1. What nominal rate compounded annually would quadruple the principal in 4 years? 2. A master...
1. What nominal rate compounded annually would quadruple the principal in 4 years? 2. A master card compounds monthly and charges an interest of 1.5% per month. What is the effective interest rate per year? 3. How long will it take money to triple itself if invested at 8% compounded annually? 4. Microsoft CEO, billionaire Bill Gates willed that a sum of $25 million be given to a child but will be held in trust by the child’s mother until...
Find the interest rate on a loan charging $1026 simple interest on a principal of $4750...
Find the interest rate on a loan charging $1026 simple interest on a principal of $4750 after 6 years. Find the principal of a loan at 4.2% if the simple interest after 5 years 6 months is $1386. Find the term of a loan of $100 at 4.5% if the simple interest is $36. How much should be invested now at 5.2% simple interest if $9828 is needed in 5 years?
An amount that is calculated by multiplying an interest rate by a principal amount that is...
An amount that is calculated by multiplying an interest rate by a principal amount that is increased each interest period by the previously accumulated interest is known as A. stated interest. B. simple interest. C. interest. D. nominal interest rate. E. compound interest.
At a certain interest rate compounded semi- annually, P5,000 will amount to P20,000 after 10 years....
At a certain interest rate compounded semi- annually, P5,000 will amount to P20,000 after 10 years. Find a) the nominal interest rate b) the effective interest rate c) the equivalent amount after 15 years. Answer P40,029.72
Calculate the accumulated value of an investment of 4,250 after 7 years assuming the annual effective...
Calculate the accumulated value of an investment of 4,250 after 7 years assuming the annual effective rate of discount is 6% for the first 2 years, the annual nominal rate of interest compounded monthly 6.6% for the next 3 years and force of interest is 4.5% for the final 2 years. Answer to the nearest cent.
Find the present value (principal) and the compound interest, as indicated, for each of the following...
Find the present value (principal) and the compound interest, as indicated, for each of the following investments. (Hint: Subtract the present value from the future value to find the compound interest.) Use a calculator or Table 16-1 or Table 16-2 to find FVF or PVF. Round answers to the nearest cent. show entire solution please.    Future Value - Rate - Term - Present Value - Compound Interest 2. $18,000 -   6% compounded quarterly - 5 years - _____ -...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT