Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 11, 2024

If 8000 dollars is invested in a bank account at an interest rate of 5 per cent per year, compounded continuously. How many years will

If 8000 dollars is invested in a bank account at an interest rate of 5 per cent per year, compounded continuously. How many years will it take for your balance to reach 40000 dollars? NOTE: Give your answer to the nearest tenth of a year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 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

Basic Finance An Introduction To Financial Institutions, Investments And Management

Authors: Herbert B Mayo

9th Edition

0324322291, 9780324322293

More Books

Students also viewed these Finance questions

Question

★★★★★

Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid...

Answered: 1 week ago

Question

★★★★★

Dene current ratio, long-term debt/equity ratio, and return on investment (ROI)

Answered: 1 week ago

Question

★★★★★

2. Contact a school psychologist within a school or school district that you previously attended as a student. Inquire about the possibility of interviewing him or her, either in person, by phone, or...

Answered: 1 week ago

Question

★★★★★

The following items were taken from the 2009 financial statements of Texas Instruments, Inc. (All dollars are in millions.) InstructionsPrepare a classified balance sheet in good form as of December...

Answered: 1 week ago

Question

★★★★★

what journal/ledger do these transactions belong in?

Answered: 1 week ago

Question

★★★★★

Question 3 Operating data for Joshua Corporation are presented below. 2019 Sales revenue Cost of goods sold Selling expenses Administrative expenses Income tax expense Net income 2020 $746,000...

Answered: 1 week ago

Question

★★★★★

Problem 1 Rocco Corporation has a book net worth of P10,380. Long-term debt is P7,500. Net working capital, other than cash, is P2,105. Fixed assets are P15,190. How much cash does the company have?...

Answered: 1 week ago

Question

★★★★★

Tom and Nicky are partners of Syarikat Sharp, a hardware shop. Amy, a regular customer went to Syarikat Sharp to complain about a knife she bought from the shop a week ago. Tom became irritated and...

Answered: 1 week ago

Question

★★★★★

6 In the force integration functional area (FIFA) of __________, the organization and its field maintenance and/or sustainment structure have all required organizational facilities and support...

Answered: 1 week ago

Question

★★★★★

20. A charge of 10 nC is kept at the centre of a square of side 2 m. What would be the potential at the vertices of the square ABCD? Also, find the work done in moving a charge of 5 C from A to C.

Answered: 1 week ago

Question

★★★★★

22. A hollow cylindrical box of length 1 m and area of cross-section 25 cm is placed in a three dimensional co-ordinate system as shown in Fig. 3.63. The electric field in the region is given by...

Answered: 1 week ago

Question

★★★★★

Did you reread, edit, and reread again to catch any spelling, grammar, and data errors? [yes or no]

Answered: 1 week ago

Question

★★★★★

15.4 Explain the concepts of dismissal for just cause and progressive discipline.

Answered: 1 week ago

Question

★★★★★

15.5 Analyze three core legal risks associated with involuntary turnover via layoffs.

Answered: 1 week ago

Previous Question Next Question