Suppose $5,000 is invested at 10% compounded semiannually (i.e., 2 times a year). (a) What will the accumulated amount be after 5 years? Exact accumulated amount (without using a calculator) = 8144.45 dollars A Accumulated amount, rounded to 2 decimal places = |8144.45 dollars (b) How much interest accrued during the 5 years? Interest, rounded to 2 decimal places = |3144.45 dollars Suppose $2,000 is invested at 3% compounded continuously. (a) What will the accumulated amount be after 7 years? Exact accumulated amount (without using a calculator) = 2,468 dollars A Accumulated amount, rounded to 2 decimal places = [2,468.00 dollars (b) How much interest accrued during the 7 years? Interest, rounded to 2 decimal places = dollars Determine the interest rate r needed for an investment of $2,000 to grow to $18,000 in 5 years if interest is compounded monthly (i.e., 12 times a year). Exact interest rate (without using a calculator), r = I:l Interest rate, as a percent, rounded to 2 decimal places = % Determine the interest rate r needed for an investment of $5,000 to grow to $8,000 in 4 years if interest is compounded continuously. Exact interest rate (without using a calculator), r = I:l Interest rate, as a percent, rounded to 2 decimal places = :] % Determine the interest rate r needed for an investment to double in value in 4 years if interest is compounded continuously. Exact interest rate (without using a calculator), r = I:l Interest rate, as a percent, rounded to 2 decimal places = :] % How long will it take for $3,000 to grow to $7,000 if the investment earns an interest rate of 16% per year compounded quarterly (i.e., 4 times a year). Exact length of time (without using a calculator), t = years Length of time, rounded to 2 decimal places = |:] years How long does it take for an investment earning interest at a rate of 5% compounded quarterly (i.e., 4 times a year) to double in value? Exact length of time (without using a calculator), t = |:| years Length of time, rounded to 2 decimal places = :] years .' Chrome File Edit View History Bookmarks Profiles Tab Window Help 278 & SatJun8 2:26 PM [ X ] E Assignment 4.4 X Assignment 5.3 - MATH 110, X Demand Elasticity Calculatior X * Course Hero C M % webassign.net/ 8. [-/1 Points] ASK YOUR TEACHER Math 110 Course Resources - Compound Interest Course Packet on solving for an unknown length of time with continuous compounding of interest How long will it take for $4,000 to grow to $9,000 if the investment earns an interest rate of 5% per year compounded continuously. Exact length of time (without using a calculator), t = years Length of time, rounded to 2 decimal places = [: years Submit Answer 9. [-/1 Points] ASK YOUR TEACHER How long does it take for an investment earning interest at a rate of 15% compounded continuously to double in value? Exact length of time (without using a calculator), t = years Length of time, rounded to 2 decimal places = [: years Submit Answer How long will it take for $4,000 to grow to $9,000 if the investment earns an interest rate of 5% per year compounded continuously. Exact length of time (without using a calculator), t = |:| years Length of time, rounded to 2 decimal places = |:' years How long does it take for an investment earning interest at a rate of 15% compounded continuously to double in value? Exact length of time (without using a calculator), t = |:| years Length of time, rounded to 2 decimal places = :' years You have $15,000 in the bank comfortably earning 16% interest compounded quarterly. Your cousin needs $15,000 to buy a new car. In order to get the same total return, what interest rate r should you request from her if the money you lend her is to be compounded continuously? Exact interest rate (without using a calculator), r = Interest rate, as a percent, rounded to 2 decimal places = %