Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i only nee questions 1,3,5 (1) A deposit of 35 dollars is made at the beginning of each month, for a period of 4 years,

image text in transcribed

i only nee questions 1,3,5

(1) A deposit of 35 dollars is made at the beginning of each month, for a period of 4 years, in an account that pays 1.5% interest, compounded monthly. Find the balance in the account at the end of the 4 years. (2) The annual net profit for a company, from 1995 to 2005, can be approximated by the model an 100.21, n = 1, 2, 3, ... , N, where an is the annual net profit in millions of dollars, and n represents the year, with n=1 corresponding to 1995. Estimate the total net profit during this period. (3) A deposit of 15 dollars is made at the beginning of each month, for a period of 5 years, in an account that pays 0.9% interest, compounded monthly. Find the balance in the account at the end of the 5 years. (4) A deposit of 20 dollars is made every 3 months, for a period of 10 years, in an account that pays 1% interest, compounded quarterly. Find the balance in the account at the end of the 10 years. (5) A deposit of $500 can be made with two options: earn 2% interest, compounded quarterly for 3 years, or earn 1.5%, compounded monthly for 3 years. Find the balance after 3 years of both options

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

Economics, Accounting And The True Nature Of Capitalism Capitalis Ecology And Democracy

Authors: Jacques Richard, Alexandre Rambaud

1st Edition

1032046589, 9781032046587

More Books

Students also viewed these Accounting questions

Question

Is this public actively seeking information on this issue?

Answered: 1 week ago

Question

How much loyalty does this public have for your organization?

Answered: 1 week ago

Question

How influential does the organization see this public as being?

Answered: 1 week ago