Question

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:

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1


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 $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: $
5000 dollars is invested in a bank account at an interest rate of 7 percent per...
5000 dollars is invested in a bank account at an interest rate of 7 percent per year, compounded continuously. Meanwhile, 24000 dollars is invested in a bank account at an interest rate of 4 percent compounded annually. To the nearest year, When will the two accounts have the same balance? The two accounts will have the same balance after
If $2000 is invested at an interest rate of 2.5% per year, compounded daily, find the...
If $2000 is invested at an interest rate of 2.5% per year, compounded daily, find the value of the investment after the given number of years. (Round your answers to the nearest cent.) 2 years. 3 years and 6 years.
Find the following values: a. The future value of a lump sum of $6,000 invested today...
Find the following values: a. The future value of a lump sum of $6,000 invested today at 9 percent, annual compounding for 7 years. b. The future value of a lump sum of $6,000 invested today at 9 percent, quarterly compounding for 7 years. c. The present value of $6,000 to be received in 7 years when the opportunity cost (discount rate) is 9%, annual compounding. d. The present value of $6,000 to be received in 7 years when the...
2 year(s) ago, Sang invested 26,253 dollars. He has earned and will earn 14.11 percent per...
2 year(s) ago, Sang invested 26,253 dollars. He has earned and will earn 14.11 percent per year in compound interest. If Trang invests 68,982 dollars in 1 year(s) from today and earns simple interest, then how much simple interest per year must Trang earn to have the same amount of money in 7 years from today as Sang will have in 7 years from today? Answer as a rate in decimal format so that 12.34% would be entered as .1234...
a.       The effective interest rate is 21.44%. If there are 12 compounding periods per year, what...
a.       The effective interest rate is 21.44%. If there are 12 compounding periods per year, what is the nominal interest rate? b.      What is the effective interest rate on a continuously compounded loan that has a nominal interest rate of 25%? c.       Which is the better investment, a fund that pays 20% compounded annually, or one that pays 18.5 % compounded continuously? d.      Money invested at 6% per year, compounded monthly. How money months you need to triple your money?...
Determine the time necessary for P dollars to double when it is invested at interest rate...
Determine the time necessary for P dollars to double when it is invested at interest rate r compounded annually, monthly, daily, and continuously. (Round your answers to two decimal places.) r = 9% (a) annually yr (b) monthly yr (c) daily yr (d) continuously yr
1. An investment is projected to generate income at the rate of R(t)=20,000 dollars per year...
1. An investment is projected to generate income at the rate of R(t)=20,000 dollars per year for the next 4 years. If the income stream is invested in a bank that pays interest at the rate of 5% per year compounded continuously, find the total accumulated value of this income stream at the end of 4 years. 2. Find the average value of the function f(x)=∜(5x+1) over the interval [0,3].
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.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT