FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company invests $30,000 in a CD that earns 5% compounded continuously. How long will it take for the account to be worth $75,000? The

image text in transcribed

A company invests $30,000 in a CD that earns 5% compounded continuously. How long will it take for the account to be worth $75,000? The account will be worth approximately $75,000 in about years. (Do not round until the final answer. Then round to the nearest tenth as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Options Futures And Other Derivatives

Options Futures And Other Derivatives

Authors: John Hull

11th Global Edition

1292410655, 9781292410654

More Books

Students also viewed these Finance questions

Question

★★★★★
Williamson Feeders manufactures bird feeders for wild bird specialty stores. In September, Williamson Feeders received an order from Wild Birds, Inc., for 20 platform bird feeders. The order from...

Answered: 1 week ago

Question

★★★★★
Women often receive reports of positive Pap smears when, in actuality, the results are negative. Newspaper accounts detail an industry utilizing overworked, undersupervised, poorly paid technicians...

Answered: 1 week ago

Question

★★★★★
Synthesize the biological and psychological explanations of depressive disorder. Understand the causes of an anxiety disorder. Understand how exposure to a traumatic or stressful event can result in...

Answered: 1 week ago

Question

★★★★★
Erica Bishop lived in public housing with her children. Her lease stated that only she and her children, who were listed on the lease, could live in the apartment, and that she was responsible for...

Answered: 1 week ago

Question

★★★★★
please answer all question or don't answer at all 1. Option contracts are not derivatives 2. A NFT ean ONLY be artwork, or a graphic picture. It is ONLY digital artwork 3. If you want to leverage a...

Answered: 1 week ago

Question

★★★★★
A company has net sales of $777,600 and cost of goods sold of $561,600. Its net income is $23,660. The company's gross margin and operating expenses, respectively, are: Multiple Choice $216,000 and...

Answered: 1 week ago

Question

★★★★★
EXPLAIN IN ENGLISH AND TAGALOG Creating a Compelling Vision Suppose you are running the computer department at an electronics store. Overall the store has been having a good year: Sales of cell...

Answered: 1 week ago

Question

★★★★★
You are a startup company that runs an Amazon Elastic Compute Cloud (Amazon EC2) instance to host a website. In this activity, develop a recommendation for the appropriate support plan. When you...

Answered: 1 week ago

Question

★★★★★
If a business owner wishes to identify which product sold the most, how would you make this report more useful? AQ2. If you wanted to provide more detail, what other attributes would be useful to add...

Answered: 1 week ago

Question

★★★★★
Describe the functions that elevated water storage serves in a distribution system

Answered: 1 week ago

Question

★★★★★
Your company, in Virginia, is sending you to their headquarters in Japan to support with training employees on a newly acquired ordering system. Considering Japan's culture and Hofstede's 5...

Answered: 1 week ago

Question

★★★★★
consider how qualitative data can add value to your research;

Answered: 1 week ago

Question

★★★★★
assess how participation or observation might provide some data for your project;

Answered: 1 week ago

Question

★★★★★
consider the use of electronically obtained qualitative data;

Answered: 1 week ago

Previous Question Next Question