Question
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
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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?
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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?
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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?
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