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Question 4 1 pts How much money is needed to be deposited into a bank account today, where the bank has an 8% yearly
Question 4 1 pts How much money is needed to be deposited into a bank account today, where the bank has an 8% yearly interest rate, compounded quarterly, in order to have $10,000 available in 5 years? Express the answer to the nearest cent. O $9,238.45 O $2,145.48 O $14,859.47 $9,057.31 O $6,729.71 Question 5 1 pts How many years are needed to keep money in a bank that offers a 10% yearly interest rate, compounded continuously, to have an initial deposit of $10,000 grow in value to $25,000. Express the answer both exactly and accurate to two decimal places. Ot In 2.5 0.1 9.16 years In 25 t = 32.19 years 0.1 In 2.5 Ot 0.092 years 10 Ot In 25000+In 10000 .1 193.67 years t= In 2.5 10 In 1.10 0.96 years
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