Use the compound interest formula to find the future value A for the following values. P=...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Use the compound interest formula to find the future value A for the following values. P= $500 i=0.078 n=27 A=$ (Round to the nearest cent.) Use the continuous compound interest formula to find the indicated value. P=$7,000; r = 3.27%; t = 8 years; A = ? A=$ (Round to two decimal places as needed.) .. Use the continuous compound interest formula to find the indicated value. A=$5,000; r= 6.78%; t = 8 years; P = ? P=$ (Round to two decimal places as needed.) an < Use the continuous compound interest formula to find the indicated value. A=$14,988; P=$11,100; t=48 months; r = ? r= % (Round to three decimal places as needed.) If $12,000 is invested at 3% compounded monthly, what is the amount after 6 years? The amount after 6 years will be $ (Round to the nearest cent.) If $3000 is invested at 5% compounded continuously, what is the amount after 2 years? Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. OA A-P(1+rt), with P= OB. A=P(1+i), with P= OC. A=Pet, with P= r= ra i= , and t and n= and t= An investment company pays 8% compounded semiannually. You want to have $15,000 in the future. (A) How much should you deposit now to have that amount 5 years from now? (Round to the nearest cent.) What is the annual percentage yield (APY) for money invested at an annual rate of (A) 4.77% compounded monthly? (B) 4.78% compounded quarterly? ****** (A) What is the annual percentage yield (APY) for money invested at an annual rate of 4.77% compounded monthly? The APY is%. (Type an integer or decimal rounded to three decimal places as needed.) How long will it take $2,000 to grow to $9,000 if it is invested at 6% compounded monthly? years (Round to the nearest tenth of a year.) A newborn child receives a $6,000 gift toward a college education from her grandparents. How much will the $6,000 be worth in 18 years if it is invested at 6.2% compounded quarterly? It will be worth $ (Round to the nearest cent.) GXD F Rental costs for office space have been going up at 7.8% per year compounded annually for the past 6 years. If office space rent is now $24 per square foot per month, what were the rental rates 6 years ago? The rates 6 years ago were about $ per square foot. (Round to two decimal places as needed.) COP You have saved $6,000 toward the purchase of a car costing $19,000. How long will the $6,000 have to be invested at 12% compounded monthly to grow to $19,000? Identify the formula required to solve this problem. OA. A Pet, where A is the amount at the end of t years if P is the principal invested at an annual rate r compounded continuously OB. I=Prt, where I is the interest, P is the principal, r is the annual simple interest rate, and t is the time in years OC. A=P(1+i)", where i== and A is the amount at the end of n periods, P is the principal value, r is the annual nominal rate, mis number of compounding periods per year, i is rate per compounding period, and in is total number of compofinding periods OD. A=P(1 + rt), where A is the amount, P is the principal, r is the annual simple interest rate, and it is the time in years An Individual Retirement Account (IRA) has $24,000 in it, and the owner decides not to add any more money to the account other than interest earned at 5% compounded daily. How much will be in the account 32 years from now when the owner reaches retirement age? There will be in the account. (Round to the nearest cent. Use a 365-day year.) What is the annual nominal rate compounded daily for a bond that has an annual yield of 6.1%? The annual nominal rate is %. (Round to three decimal places. Use a 365-day year.) Use the compound interest formula to find the future value A for the following values. P= $500 i=0.078 n=27 A=$ (Round to the nearest cent.) Use the continuous compound interest formula to find the indicated value. P=$7,000; r = 3.27%; t = 8 years; A = ? A=$ (Round to two decimal places as needed.) .. Use the continuous compound interest formula to find the indicated value. A=$5,000; r= 6.78%; t = 8 years; P = ? P=$ (Round to two decimal places as needed.) an < Use the continuous compound interest formula to find the indicated value. A=$14,988; P=$11,100; t=48 months; r = ? r= % (Round to three decimal places as needed.) If $12,000 is invested at 3% compounded monthly, what is the amount after 6 years? The amount after 6 years will be $ (Round to the nearest cent.) If $3000 is invested at 5% compounded continuously, what is the amount after 2 years? Which of the following is the appropriate formula with the correct values substituted? Select the correct choice below and, if necessary, fill in the answer boxes to complete your choice. OA A-P(1+rt), with P= OB. A=P(1+i), with P= OC. A=Pet, with P= r= ra i= , and t and n= and t= An investment company pays 8% compounded semiannually. You want to have $15,000 in the future. (A) How much should you deposit now to have that amount 5 years from now? (Round to the nearest cent.) What is the annual percentage yield (APY) for money invested at an annual rate of (A) 4.77% compounded monthly? (B) 4.78% compounded quarterly? ****** (A) What is the annual percentage yield (APY) for money invested at an annual rate of 4.77% compounded monthly? The APY is%. (Type an integer or decimal rounded to three decimal places as needed.) How long will it take $2,000 to grow to $9,000 if it is invested at 6% compounded monthly? years (Round to the nearest tenth of a year.) A newborn child receives a $6,000 gift toward a college education from her grandparents. How much will the $6,000 be worth in 18 years if it is invested at 6.2% compounded quarterly? It will be worth $ (Round to the nearest cent.) GXD F Rental costs for office space have been going up at 7.8% per year compounded annually for the past 6 years. If office space rent is now $24 per square foot per month, what were the rental rates 6 years ago? The rates 6 years ago were about $ per square foot. (Round to two decimal places as needed.) COP You have saved $6,000 toward the purchase of a car costing $19,000. How long will the $6,000 have to be invested at 12% compounded monthly to grow to $19,000? Identify the formula required to solve this problem. OA. A Pet, where A is the amount at the end of t years if P is the principal invested at an annual rate r compounded continuously OB. I=Prt, where I is the interest, P is the principal, r is the annual simple interest rate, and t is the time in years OC. A=P(1+i)", where i== and A is the amount at the end of n periods, P is the principal value, r is the annual nominal rate, mis number of compounding periods per year, i is rate per compounding period, and in is total number of compofinding periods OD. A=P(1 + rt), where A is the amount, P is the principal, r is the annual simple interest rate, and it is the time in years An Individual Retirement Account (IRA) has $24,000 in it, and the owner decides not to add any more money to the account other than interest earned at 5% compounded daily. How much will be in the account 32 years from now when the owner reaches retirement age? There will be in the account. (Round to the nearest cent. Use a 365-day year.) What is the annual nominal rate compounded daily for a bond that has an annual yield of 6.1%? The annual nominal rate is %. (Round to three decimal places. Use a 365-day year.)
Expert Answer:
Answer rating: 100% (QA)
The provided images contain a series of questions related to compound interest and continuous compound interest To solve these problems we will use different variations of the compound interest formul... View the full answer
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
Posted Date:
Students also viewed these mathematics questions
-
Use the simple interest formula to find the missing entries in the table. Round monetary amounts to the nearest cent. Rate (to the nearest hundredth Interest Principal of a percent) Time $2,000...
-
Use Table 14 - 1 to find the future value and total interest of the annuities. See Examples 3, 4, 6 and 7. Annuity type 1. Ordinary annuity 2. Ordinary annuity 3. Ordinary annuity 4. Annuity due 5....
-
The amount of $27 350 is invested at 6% compounded monthly for 6 years. After the initial 6-year period, the balance in the fund is converted into an annuity due paying $1600 every 6 months. If...
-
Prepare a company analysis (strengths and weaknesses) Instructions - Prepare the SW portion of a SWOT analysis as a report. Use your textbook and the instruction below. Prioritizing the Results: The...
-
Determine the magnitude of force F so that the resultant force of the three forces is as small as possible. What is the magnitude of this smallest resultantforce? 14 kN 45 30 8 kN
-
A compound composed of iron and carbon monoxide, Fe x (CO) y , is 30.70% iron. What is the empirical formula for the compound?
-
The October 12, 2006, edition of The Wall Street Journal carried an article entitled Expedia Might Trip Debt Covenant. The article revealed that the share price of Expedia Inc., an online travel...
-
In many large business organizations today, it is common that the financial experts are physically located separately from operational personnel. One effect of this isolation is that the people with...
-
5) PM > 25)> PM CS 9-2 CASE 1: ACME PAINT COMPANY ACME PAINT COMPANY BALANCE SHEET (FROM COMPANY RECORDS, PREPARED WITHOUT AUDIT) Fiscal Year 6/30/X1 06/30/X2 Assets Cash Accounts Receivable...
-
Paolo is a 50% partner in the Capri Partnership and has decided to terminate his partnership interest. Paolo is considering two options as potential exit strategies. The first is to sell his...
-
Transportation makes extensive use of differential pricing. We can best describe differential pricing as: Question 3 options: 1) Where the price is set at a fixed margin above average cost 2)...
-
determine the risk and return profile for your client, Jennifer, who is a moderate aggressive investor and willing and able to take risk, and wishes to allocate 75% of her funds on risky assets and...
-
Q4. You are given the following information about country A in period 0:r (interest rate paid on debt) = 5%; g (growth rate of GDP) = 9%; b (debt-to-GDP ratio) = 80%. (a) Calculate the primary...
-
How would partial bugeting look like when youre decudding whether to replace current seed with Td-away?
-
The Dashwoods have calculated their taxable income to be $88,000 for 2021, which includes $2,000 of long-term capital gains. Using the appropriate tax rate schedules, Dividends and Capital Gains Tax...
-
What does a projected income statement for maple leaf hardware ltd. look like?
-
Green Captain Solar manufactures and sells solar panels that can be added on to existing solar panel systems on individual homes and businesses. The market covers both new panels as well as recycled...
-
Consider the setup in Problem 16. Show that the relative speed of the ball and the point of contact on the stick is the same before and immediately after the collision. (This result is analogous to...
-
Hannah contributed $300 per month into her retirement account in pre-tax dollars during the last tax year. Her taxable income for the year was $72,000. She files taxes as a single taxpayer. a. What...
-
The student government at State College is selling inexpensive bookcases for dorm rooms to raise money for school activities. The expense function is E = -200p + 10,000 and the revenue function is R...
-
Complete the chart. 1 USD 1.07 Canadian dollars (CAD) 1 USD 0.69 Euros (EUR) 1 USD 1.16 Australian dollars (AUD) 1 USD 89.85 Japanese yen (JPY) 1 USD 7.34 South African rand (ZAR) 1 USD 1.00...
-
Compare Colburn Eq. (16-81d) to the equivalent Kremser Eq. (13-9c), and compare Eq. (16-81e) to \((13-9 b)\). If we relate \(\mathrm{n}_{\mathrm{O}-\mathrm{Ey}}\) to \(\mathrm{N}\) and set...
-
Mass transfer models include transfer in only the packed region. Mass transfer also occurs in the column ends where liquid and vapor are separated. Discuss how these end effects affect a design. How...
-
Construct your key relations chart for this chapter.
Study smarter with the SolutionInn App