Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A loan was made with an initial amount of 20000 pesos compounded continuously with an interest rate of 9%. In another account there is an

  1. A loan was made with an initial amount of 20000 pesos compounded continuously with an interest rate of 9%. In another account there is an initial deposit of 1000 pesos compounded quarterly with an interest rate of 6%. How long does it take for both accounts to have the same value in the future?

  1. A deposit on a first bank account amounting to $1500 with an interest rate of 3% and compounded continuously. In a second account another deposit of $750 in a 7% interest rate and also compounded continuously. When will the total amount of the second deposit be 50% more than the total amount of the first deposit? When will the amounts be equal in the future?

  1. A principal amount of 10,000 pesos is invested on the stock market for 5 years at an interest rate of 3% for the first 2 years, 5% for the third year and 6% for the fourth year and fifth years all compounded continuously. What will be the total amount at the end of the 5 years?

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

Step: 3

blur-text-image

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

ACC 120 Wake Tech Financial Accounting W Connect Plus Access

Authors: J. David Spiceland

1st Edition

1308168926, 978-1308168920

More Books

Students also viewed these Accounting questions

Question

What's your biggest life regret so far?

Answered: 1 week ago

Question

Discuss all branches of science

Answered: 1 week ago

Question

4-40. Dont hesitate to call our office any time.

Answered: 1 week ago