Use the formula for compound interest with n compoundings per year to solve this problem. How long,
Question:
Use the formula for compound interest with n compoundings per year to solve this problem. How long, to the nearest tenth of a year, will it take $12,500 to grow to $20,000 at 6.5% annual interest compounded quarterly?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
20000 12500 1 12500101625 1...View the full answer
Answered By
Moses mwangi
With prior writing experience, be sure that I will give a great grade, If not an A+, it will be something close to this. My reviews speaks it all, Try me!!
4.80+
78+ Reviews
157+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
Oil production. Assume that the rate in Problem 73 is found to be (A) When is the rate of production greatest? (B) How many barrels of oil Q(t)will the field produce in the first t years if Q(0)=0?...
-
For any amount of money invested at 2.8% annual interest compounded continuously, how long, to the nearest tenth of a year, will it take to triple?
-
A midwestern city finds its residents moving to the suburbs. Its population is declining according to the function P(t) = P 0 e -0.04t , where t is time measured in years and P 0 is the population at...
-
Using the following information, determine the activity rate for the quality inspections activity. Budgeted Activity Cost Pool Activity Setups Estimated Activity Base 1,000 $60,000 Purchase orders...
-
Calculate the annual payment, finance costs, and principal repayments on a $300,000 loan with a 10% interest rate over four years.
-
The accounting records of Clear Photography, Inc., reflected the following balances as of January 1, 2012: Cash .......... $18,000 Beginning inventory .... 13,500 (150 units @ $90) Common stock...
-
KEY TERMS Define each of the following terms: a. Liquid asset b. Liquidity ratios: current ratio; quick (acid test) ratio c. Asset management ratios: inventory turnover ratio; days sales outstanding...
-
When you get a surprisingly low price on a product do you assume that you got a really good deal or that you bought a low-quality product? Research indicates that you are more likely to associate low...
-
You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company's costing system and "do what you...
-
In Exercises 81100, evaluate or simplify each expression without using a calculator. log 1000
-
In Exercises 8388, let log b 2 = A and log b 3 = C. Write each expression in terms of A and C. 3/2 logb
-
For the reversible isothermal change of an ideal gas undergoing a process, the change in entropy is given by (a) \((\Delta S)_{T}=R \ln \frac{V_{1}}{V_{2}}\) (b) \((\Delta S)_{T}=R \ln...
-
Identify at least two business systems that support the development of effective work relationships Briefly explain how each system supports the development of effective work relationships.
-
Power and Influence Personal Plan - How will you navigate the realms of power and influence? Why is this personal plan important for you? What do you want to achieve? do a table with SMART goals -...
-
A single-stage trickling-filter plant is proposed for treating a dilute wastewater with a BOD concentration of 170 mg/L. The plant is located in a warm climate, and the minimum wastewater temperature...
-
For the first assignment for this course, compose a written document that contains the following: A description and assessment of your past experiences with policy and program planning, either your...
-
What are the key motivators driving consumer purchasing decisions in our industry? How do consumers perceive our brand compared to competitors, and what factors influence brand loyalty?
-
The fatigue data for a steel alloy are given as follows: Stress Amplitude [MPa (ksi)] __________ Cycles to Failure 470 (68.0) ................................... 104 440 (63.4)...
-
What will be the final value of DI after executing the following piece of code? Execute the instructions dependently one after another. CLD MOU CX,OFOH MOU AX.02874H MOU DI,01000H MOU ES, DI SUB...
-
Graph f. Use the steps for graphing a rational function described in this section. f(x) = (x + 3)(x - 5) (x + 1)(x-4)
-
The grade x of a hill is a measure of its steepness. For example, if a road rises 10 feet for every 100 feet of horizontal distance, then it has an uphill grade of x = 10/100 or 10%. See the figure....
-
An aluminum can is cubic being designed to hold a volume of 100 centimeters. (a) Find a formula for the volume V in terms of r and h. (b) Write a formula for a function S that calculates the outside...
-
*please calculate irr in excel
-
Which of the following would not be a period cost? Research and development Direct materials Office supplies Advertising costs
-
\ table [ [ Activity Cost Pool,Activity Measure,Total Cost,Total Activity ] , [ Machining , Machine - hours,$ 3 3 0 , 0 0 0 , 1 5 , 0 0 0 MHs ] , [ Machine setups,Number of setups,$ 3 0 0 , 0 0 0 , 5...
Study smarter with the SolutionInn App