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Find the value of $1000 deposited in a bank at 8% interest for 10 years compounded in the following ways. (Round your answers to the
Find the value of $1000 deposited in a bank at 8% interest for 10 years compounded in the following ways. (Round your answers to the nearest cent.) (a) annually (b) quarterly (c) continuously A rich uncle wants to make you a millionaire. How much money must he deposit in a trust fund paying 8% compounded quarterly at the time of your birth to yield $1,000,000 when you retire at age 58? (Round your answer to the nearest cent.) A corporation recently sold zero-coupon $1000 bonds maturing in 5 years with an annual yield of 10%. Find the price. (Hint: The price is the present value of $1000 5 years from now at the stated interest rate.] (Round your answer to the nearest cent.) A new car lists for $17,740 and depreciates by 35% per year. Find its value after the following amounts of time. (Round your answers to the nearest dollar.) (a) 3 years (b) 3 months The population of the world x years after the year 2010 is predicted to be 6.9e0.00743x billion people (for OSXS 30).+ Use this formula to predict the world population in the year 2020. (Round your answer to one decimal place.) billion people An investment of $9000 grows to $10,292.59 in 4 years. Find the annual rate of return for annual compounding. (Hint: Use P(1 + r/m)mt with m = 1 and solve for r (rounded to one decimal place).] Find the value of $1000 deposited in a bank at 8% interest for 10 years compounded in the following ways. (Round your answers to the nearest cent.) (a) annually (b) quarterly (c) continuously A rich uncle wants to make you a millionaire. How much money must he deposit in a trust fund paying 8% compounded quarterly at the time of your birth to yield $1,000,000 when you retire at age 58? (Round your answer to the nearest cent.) A corporation recently sold zero-coupon $1000 bonds maturing in 5 years with an annual yield of 10%. Find the price. (Hint: The price is the present value of $1000 5 years from now at the stated interest rate.] (Round your answer to the nearest cent.) A new car lists for $17,740 and depreciates by 35% per year. Find its value after the following amounts of time. (Round your answers to the nearest dollar.) (a) 3 years (b) 3 months The population of the world x years after the year 2010 is predicted to be 6.9e0.00743x billion people (for OSXS 30).+ Use this formula to predict the world population in the year 2020. (Round your answer to one decimal place.) billion people An investment of $9000 grows to $10,292.59 in 4 years. Find the annual rate of return for annual compounding. (Hint: Use P(1 + r/m)mt with m = 1 and solve for r (rounded to one decimal place).]
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