Question

Suppose you deposit $7000 at 8% interest compounded continously. Find the average value of your account...

Suppose you deposit $7000 at 8% interest compounded continously. Find the average value of your account during the first 3 years.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Suppose you deposit $7000 at 7% interest compounded continuously. Find the average value of your account...
Suppose you deposit $7000 at 7% interest compounded continuously. Find the average value of your account during the first 4 years.
Suppose you deposit $2000 at 4% interest compounded continously. Find the average value of your account...
Suppose you deposit $2000 at 4% interest compounded continously. Find the average value of your account during the first 3 years.
1. If you deposit $6,500 into an account paying 8% annual interest compounded monthly, how much...
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?
Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years...
Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years 1 and 2, and thereafter a continuous rate δ(t) = 2/(t + 1) (t ≥ 0). What is the value of the account after 5 years? Problem 1.11 Suppose an initial investment of $100 grows according to the accumulated amount function A(t) = 100(1 + 0.05t) (t ≥ 0). (a) Find the effective rate of interest earned during the 5th year i5. (b) Find...
FINANCE 5. 5A. You deposit $5000 in an account earning 8% interest compounded monthly. How much...
FINANCE 5. 5A. You deposit $5000 in an account earning 8% interest compounded monthly. How much will you have in the account in 15 years? 5B. You can afford a $350 per month car payment. You've found a 3 year loan at 2% interest. How big of a loan can you afford? 5C. You have $300,000 saved for retirement. Your account earns 5% interest. How much will you be able to pull out each month, if you want to be...
Question No : 3 If you deposit 10 $ in an account, that pays 5% interest,...
Question No : 3 If you deposit 10 $ in an account, that pays 5% interest, compounded annually, how much you will have at the end of 10 years? 50 years and 100 years How much will be in account at the end of 5 years the amount deposited today is 10,000 and interest is 8% per year, compounded semiannually? How much would I have to deposit in an account today that pays 12% interest, compounded quarterly, so that I...
Find the future value of each deposit if the account pays ​(a) simple​ interest, and ​(b)...
Find the future value of each deposit if the account pays ​(a) simple​ interest, and ​(b) interest compounded annually. ​$2800 at 3​% for 5 years ​(a) With simple​ interest, the future value is equal to ​$ ---------. ​(Simplify your answer. Type an integer or a​ decimal.) ​(b) With interest compounded​ annually, the future value is equal to ​$ -----------. ​(Simplify your answer. Type an integer or decimal rounded to the nearest cent as​ needed.)
1) You deposit $500 each month into an account earning 3% interest compounded monthly. a) How...
1) You deposit $500 each month into an account earning 3% interest compounded monthly. a) How much will you have in the account in 25 years? b) How much total money will you put into the account? c) How much total interest will you earn? 2) Suppose you invest $190 a month for 6 years into an account earning 7% compounded monthly. After 6 years, you leave the money, without making additional deposits, in the account for another 21 years....
1.You are going to deposit $2,800 in an account that pays .54 percent interest compounded quarterly....
1.You are going to deposit $2,800 in an account that pays .54 percent interest compounded quarterly. How much will you have in 8 years? 2.You have $5,000 and will invest the money at an interest rate of .21 percent per month until the account is worth $9,800. How many years do you have to wait until you reach your target account value? 3.You have just started a new job and plan to save $4,500 per year for 40 years until...
You deposit $2000 in an account earning 3% interest compounded monthly How much will you have...
You deposit $2000 in an account earning 3% interest compounded monthly How much will you have in the account in 20 years? How much interest will you earn? You deposit $10,000 in an account earning 4% interest compounded monthly. How much will you have in the account in 25 years? How much interest will you earn?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT