Question

$2000 is deposited with an annual interest of 2% compounded continuously.

(a) Find the balance of the account in 5 years

(b) How long will it take for the money to become 3 times at this rate?

Answer #1

Adam deposited $1500 in an account in which interest is
compounded continuously. The annual rate of interest is 2.5 %. How
long does it take for his money to double?

When interest is compounded continuously, the amount of money
increases at a rate proportional to the amount S present
at time t, that is,
dS/dt =
rS,
where r is the annual rate of interest.
(a)
Find the amount of money accrued at the end of 8 years when
$5000 is deposited in a savings account drawing 5
3
4
% annual interest compounded continuously. (Round your answer to
the nearest cent.)
$
(b)
In how many years will the...

When interest is compounded continuously, the amount of money
increases at a rate proportional to the amount S present
at time t, that is,
dS/dt =
rS,
where r is the annual rate of interest.
(a)
Find the amount of money accrued at the end of 8 years when
$5000 is deposited in a savings account drawing 5 3/4
% annual interest compounded continuously. (Round your answer to
the nearest cent.)
$
(b) this is the part I’m having the...

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...

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:

3. Matt invested $5,500 into an account earning 2.5% APR
compounded continuously. What will his balance be after seven
years?
4. How much money should be deposited in an account today that
earns 3.5% compounded monthly so that it will accumulate to $10,000
in 8 years?

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?

An initial deposit is made of $12,000 in an account paying 4%
interest compounded continuously. a. How much will the account be
worth in 6 years? b. How long will it take the account to
double?

1) When interest is compounded continuously, the amount of money
increases at a rate proportional to the amount S present
at time t, that is,
dS/dt =
rS, where r is the annual rate of
interest.
(a)Find the amount of money accrued at the end of 9 years when
$4000 is deposited in a savings account drawing 5 1/4 $ % annual
interest compounded continuously. (Round your answer to the nearest
cent.)
(b)In how many years will the initial sum...

If you deposit $2000 in a savings account that pays an interest
equal to 6% Compounded continuously. Whats the balance at the end
of 3 years?

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