Question

Use the appropriate compound interest formula to compute the balance in the account after the stated period of time ?$8000 is invested for 11 years with an APR of 5?% and monthly compounding. The balance in the account after 11 years is ?$

Answer #1

Total amount(A) = P(1 + r/12)^{12t}

= 8000(1 + 5/1200)^{12 * 11}

= 8000(1205/1200)^{132}

= 13850.189

Direction: Compounding More than once a Year. Use the
appropriate compound interest formula to compute the balance in
each account after the stated period of time.
1.) $10,000 is invested for 5 years with an APR of
2.75% and monthly compounding.
Directions: Annual Percentage Yield (APV). Find the annual
percentage yield (to the nearest 0.01%) in each case.
1.) A bank offers an APR of 3.2% compounded
monthly.
Directions: Continuous Compounding. Use the formula for
continuous compounding to compute the...

Direction: Compounding More than once a Year. Use the
appropriate compound interest formula to compute the balance in
each account after the stated period of time.
1.) $10,000 is invested for 5 years with an APR of
2.75% and monthly compounding.
Directions: Annual Percentage Yield (APV). Find the annual
percentage yield (to the nearest 0.01%) in each case.
1.) A bank offers an APR of 3.2% compounded
monthly.
Directions: Continuous Compounding. Use the formula for
continuous compounding to compute the...

Use the compound interest formula for compounding more
than once a year to determine the accumulated balance after the
stated period.
49) $2500 deposit at an APR of7.5% with monthly
compounding for 7 years
A ) $4219.25 B) $2611.45 C) $3375.40 D)
$74,802.06

Use the formula for continuous compounding to compute the
balance in the account after 1, 5, and 20 years. Also, find the
APY for the account. A $2000 deposit in an account with an APR of
3%. The balance in the account after 1 year is approximately
[...]

Use the formula for continuous compounding to compute the
balance in the account after? 1, 5, and 20 years.? Also, find the
APY for the account. A?=$17,000 deposit in an account with an APR
of 3.75?%.

Directions: Simple Interest. Calculate the amount of money you
will have in each account after 5 years, assuming that the account
earns simple interest.
1.) You deposit $1500 in an account with an annual
interest rate of 4%?
Direction: Compound Interest. Use the compound interest formula
to compute the balance in each account after the stated period of
time, assuming that interest is compounded annually.
1.) $3,000 is invested at a APR of 1.8% for 12
years.?

Use the formula for continuous compounding to compute the
balance in the account after 1, 5, and 20 years. Also, find the
APY for the account. A $7000 deposit in an account with an APR of
3.3%.
The balance in the account after 1 year is approximately $
The balance in the account after 5 years is approximately $
The balance in the account after 20 years is approximately $
(Round to the nearest cent as needed.)

Use the formula for continuous compounding to compute the
balance in the account after 1, 5, and 20 years. Also find the APY
for the account.
A $3000 deposit in an account with an APR of 8%
Year 1 =
Year 5+
Year 20=

Consider a bank account with a stated yearly compound interest
rate of 4.25%. Assume that
there is no taxation. Which of the following statements is
correct?
a) If interest is paid monthly, the APR of the account is
between 4.1% and 4.3%. b) If interest is paid quarterly, the APR of
the account is between 4.1% and 4.3%.
c) If interest is paid only every two years, the APR of the
account is between 4.1% and 4.3%. d) If interest...

4. Calculate the compound amount. Use the compound amount
formula and a calculator. (Round your answer to two decimal
places.)
P = $9700, r = 4% compounded daily, t
= 4 years
5.Calculate the present value. (Round your answer to two decimal
places.)
A = $47,000, r = 7.5% compounded annually,
t = 39 years
6. Calculate the present value. (Round your answer to two
decimal places.)
A = $30,000, r = 6% compounded monthly,
t = 3 years
7....

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