If $3,000 is invested at an interest rate of 1.8%, compounded hourly for 2 years, what is
Question:
If $3,000 is invested at an interest rate of 1.8%, compounded hourly for 2 years, what is the ending balance, to the nearest cent?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Answer 310997 Stepbystep ...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
Question Posted:
Students also viewed these Mathematics questions
-
Sophie currently owes $9,000 to a friend who is charging her interest of 2.40% p.m. She is required to settle the loan with two equal payments, one today and the other in two months. Calculate the...
-
If an initial amount A0 of money is invested at an interest rate i compounded times a year, the value of the investment after t years is
-
Suppose that $10,000 is invested at an interest rate of 5.4% per year, compounded continuously. a) Find the exponential function that describes the amount in the account after time t, in years. b)...
-
Using mean-variance portfolio theory, prove that the efficient frontier becomes a straight line in the presence of a risk-free asset. [3] Consider two independent assets, Asset A and Asset B, with...
-
What is the relation between an FRA rate for a contract that matures at time T and a forward rate of interest for time T 1?
-
Refer to functions and g as described in Exercises, and find the following. Domain of
-
What is the role of a project manager or leader? AppendixLO1
-
Assume that the only precedents relating to a particular issue are as follows: Tax Courtdecided for the taxpayer Eighth Circuit Court of Appealsdecided for the taxpayer (affirming the Tax Court) U.S....
-
Choi Computer Systems is considering a project that has the following cash flow data. What is the project's IRR? a. 41.79% b. 25.63% C. 39.80% d. 44.53%
-
Kitchen Kings Toledo plant manufactures three product lines, all multi-burner, ceramic cook tops. The plants three product models are the Regular (REG). the Advanced (ADV), and the Gourmet (GMT)....
-
Samuel wants to deposit $4,000 and keep that money in the bank without deposits or withdrawals for 3 years. He compares two different options. Option 1 will pay 1.8% interest, compounded quarterly....
-
Laura deposits $2,000 in an account that has an annual interest rate of 1.96%, compounded monthly. How much interest will she earn at the end of 1 month? Round to the nearest cent.
-
Benjamin, a self-employed bookkeeper, takes a CPA review course ($3,000 cost) to help prepare for the CPA exam. a) Use an available tax research service to determine if Benjamin may deduct the cost...
-
Systems thinking is all about solving problemsin organizations, world situations, and even our personal lives. But it is not just a procedure; it is a different way of approaching problems. Our...
-
How would I display the following 3 principles in an entertaining infographic? Be very specific . Principle 1: Employee Engagement and Motivation Drawing from the Human Relations Movement theory and...
-
Shown below is a cross section of tubular member which is subjected to a torque T= 5.5 kN-m. It has a length L-3.0-m and the material shear modulus G=27 GPa. Dimensions: b=150 mm, h= 100 mm and t= 8...
-
The hip roof shown in the below Figure 2 is constructed of 2x10 rafters spaced 16 inches on center. The hip rafters are 1 -inch-wide by 12-inch-high GLBs. The roof has a slope of 4:12. Prepare a list...
-
2. Estimate the populations of Fargo, ND and Bismarck, ND in years of 2040 and 2050. Select a single value of population that you would use for design purposes in each year. You need to specify and...
-
Given the following velocity functions of an object moving along a line, find the position function with the given initial position. Then graph both the velocity and position functions. v(t) = 2t;...
-
The text defined intrinsic value as the value of an asset given a hypothetically complete understanding of the assets investment characteristics. Discuss why hypothetically is included in the...
-
Delia purchased a new car for $25,350. This make and model straight line depreciates to zero after 13 years. a. Identify the coordinates of the x- and y-intercepts for the depreciation equation. b....
-
Vince purchased a used car for $11,200. This make and model used car straight line depreciates to zero after 7 years. a. Identify the coordinates of the x- and y-intercepts for the depreciation...
-
Examine the straight line depreciation graph for a car. a. At what price was the car purchased? b. After how many years does the car totally depreciate? c. Write the equation of the straight line...
-
Marie Forleo, a marketing trainer and host of MarieTV, presents the eight tips for genuine networking. Do you agree or disagree with her suggestions? Discuss how this information is useful to you and...
-
Identify all relevant costs or revenue that are applicable to production- constrained decisions 1. Contributions margin of product 2. Interference with other production 3. Contribution margin per...
-
Gammaro Compary manufactures wallets from fabric. In 2 0 1 9 , Gammaro made 2 , 1 5 0 , 0 0 0 wallets using 1 , 2 5 0 , 0 0 0 yards of fabric. In 2 0 1 9 , Gammaro has capacity to make 2 , 8 0 0 , 0...
Study smarter with the SolutionInn App