Question

If $ 60,000 is invested in an account paying 3.5% interest, how much will be in...

If $
60,000
is invested in an account paying 3.5% interest, how much will be in the account in 5 years if interest is compounded yearly?

If $
60,000
is invested in an account paying 3.5% interest, how much will be in the account in 5 years if interest is compounded quarterly?

If $
60,000
is invested in an account paying 3.5% interest, how much will be in the account in 5 years if interest is compounded monthly?

If $
60,000
is invested in an account paying 3.5% interest, how much will be in the account in 5 years if interest is compounded daily?

If $
60,000
is invested in an account paying 3.5% interest, how much will be in the account in 5 years if interest is compounded continuously

Math   Precalculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

If you have any confusion regarding answer please ask and rate ?

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
1. How much more interest will be earned if $7000 is invested for 6 years at...
1. How much more interest will be earned if $7000 is invested for 6 years at 7% compounded continuously, instead of at 7% compounded quarterly. 2. How long does it take for an account containing $6000 to be worth $15,000 if the money is invested at 8.4% compounded monthly?
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?
At the end of each month, for 24 months, $200 is put into an account paying...
At the end of each month, for 24 months, $200 is put into an account paying 7% annual interest compounded continuously. Find the future value of this account. Round your answer to the nearest cent. How much money must be invested now at 10% interest compounded continuously so that $120,000 will be available in 5 years? Round to the nearest cent. Find the amount of money that accumulates when $470,000 is placed annually into a non-interest-earning account for 3 years.
How much will $100 grow to if invested at a continuously compounded interest rate of 7.5%...
How much will $100 grow to if invested at a continuously compounded interest rate of 7.5% for 7 years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) How much will $100 grow to if invested at a continuously compounded interest rate of 7% for 7.5 years? (Do not round intermediate calculation
How much will $8000 invested at 3 percent interest be worth in three years if it...
How much will $8000 invested at 3 percent interest be worth in three years if it is compounded annually? Quarterly? How much if the interest rate is 5 percent?
3. Matt invested $5,500 into an account earning 2.5% APR compounded continuously. What will his balance...
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?
8) If you invest $5,650 in an account paying 8.65% compounded continuously, how much money will...
8) If you invest $5,650 in an account paying 8.65% compounded continuously, how much money will be in the account at the end of 10 years? 9)You have agreed to pay off an $8,000 loan in 30 monthly payments of $298.79 per month. The annual interest rate is 9% on the unpaid balance. a) How much of the rst month's payment will apply towards reducing the principal of $8,000? b)What is the unpaid balance (on the principal) after 12 monthly...
If you put $100,000 in to a bank account earning 3% interest, how much will you...
If you put $100,000 in to a bank account earning 3% interest, how much will you have in 5 years if the 3% is an annually compounded APR? What if it is a semiannually compounded APR? What if it is a monthly compounded APR? What if it is a continuously compounded APR?
Joe invested $25,000 in an account that will draw 6.9% interest compounded quarterly for the next...
Joe invested $25,000 in an account that will draw 6.9% interest compounded quarterly for the next 10 years while Susan invests $25,000 in an account that will draw 6.8% interest compounded continuously over the next 10 years. Who will have the most money at the end of the 10 years?
How much will $100 grow to if invested at a continuously compounded interest rate of 8.5%...
How much will $100 grow to if invested at a continuously compounded interest rate of 8.5% for 9 years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) How much will $100 grow to if invested at a continuously compounded interest rate of 9% for 8.5 years? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT