Answered: How much money needs to be invested now…

How much money needs to be invested now to get $2000 after 4 years at 8% compounded quarterly? Express your answer to the nearest dollar.

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter2: Exponential, Logarithmic, And Trigonometric Functions

Section2.CR: Chapter 2 Review

Problem 124CR

See similar textbooks

Related questions

Q: You invest $13,000 in Rapid Growth Funds, which appreciate by 2% per year, with yields reinvested…

Q: How long will it take an investment of $5000 to double if the investment earns interest at the rate…

A: We are given: Initial investment (P) = $5000 Accumulated amount (A) = $10000 ( Since we need…

Q: Nadav invests $6,000 in an account that earns 5% interest compounded continuously. What is the total…

A: Topic = Algebra

Q: How much money should be invested in an account that earns 9% interest compounded quarterly to yield…

A: Given: FV=$10,000 t=4 yearsr=9%n=4 compounded quarterly Let the money invested is P…

Q: What monthly rate of interest is equivalent to 3.6% p.a. compounding semi-annually?

A: = final amount = Principal = interest rate = number of times interest applied per time…

Q: Sandy invested $1500 with 3.5% interest. Compounded quarterly. How much money will she have in 8…

A: Given: The amount invested is $1500 with 3.5% rate of interest. The time period is 8 years. The…

Q: If you leave $5400 in an account earning 4% interest, compounded daily, how much money will be in…

Q: Suppose that you invest $14,000 at 3% interest compounded monthly. How much money will be in your…

A: We know that the formula , A = P ( 1 + (r / n )) n • t Here P = principal amount r = interest rate…

Q: If $250 is invested at 8% compounded (A) annually, (B) quarterly, (C) monthly, what is the…

Q: How much time will be needed for $17,000 to grow to $18,778.58 if deposited at 4% compounded kt…

Q: What rate of interest compounded annually is required to double an investment in 4 years? The rate…

A: Formula used:The simply annual compound interest formula

Q: If you want to earn 4% annual simple interest on an investment, how much should you pay for a note…

A: Givenr=4% t=10/12 yearr=0.04 , I=16500

Q: A principal of $4200 is invested at 3.5% interest compounded annually. How much will the investment…

A: A=P1+rnntWhere, A is the final amount,P=Principal investment,r=rate of interestn=number of times…

Q: If you invest $2,593 compounded annually at 8.5%, how long will it take to double your investment?

Q: $20,000 is invested at 3.5% interest compounded monthly. How long will it take for the investment to…

A: Given:Principal amount (P) = $20,000Final amount (A) = double the principal amountInterest rate (r)…

Q: $1000 is invested at 6% compounded yearly. According to the rule of 72, how many years will it take…

A: We can find the required time period as below.

Q: You invest $10,000 in Rapid Growth Funds, which appreciate by 6% per year, with yields reinvested…

A: Let P be the principal amount invested in $, r be the rate of interest, t be the time in years and n…

Q: How long will it take an investment of $4000 to double if the investment earns interest at the rate…

A: We will find how long will it take an investment to double as following.

Q: A 20% compounded quarterly has an equivalent rate of 3.9804%, how many times does it pay every year?…

Q: How long will it take to triple the sum of money invested at 12% compounded monthly?

Q: How much would $20,000 amount to a 8% compounded continuously for 10 years? Round to the nearest…

A: Compound interest

Q: At what nominal rate compounded semi-annually will Php5,000 amount to Php6,000 in 2 years? What is…

A: Given n=2, P=Php5,000, A=Php6,000, t=2. We first find nominal interest rate (assumse r%).

Q: You invest in an account paying 10% compounded monthly. How long will it take for you to double your…

Q: How much money should be invested every quarter at 8% per year, compounded quarterly, in order to…

A: The solution for the above question is as shown below.

Q: What present value amounts to $20,000 if it is invested for 15 years at 8% compounded annually?…

A: Given:Total accumulated amount (A) = 20,000 dollarsRate = 5%Time, n = 15Present value (Principle)…

Q: $450 is invested at a monthly rate of 1% and is compounded monthly. What is the value of the…

Q: If you want to earn 3% annual simple interest on an investment, how much should you pay for a note…

A: Given:

Q: Find the value of OMR 20,000 after 4 years invested at a compound annual rate of 6%.

Q: You invest $10,000 in Rapid Growth Funds, which appreciate by 3% per year, with yields reinvested…

Q: In 10 years, $3,300 grows to $9,322.50. What is the annual compound interest rate 9.1% 8.1% 10.9%…

A: Given that In 10 years $3300 grows to $9322.50 To find The annual compound interest rate.

Q: What rate compounded semi-annually will double any amount principal if it is invested in 13 years?…

Q: If you want to earn 4% annual simple interest on an investment, how much should you pay for a note…

Q: You invest $10,000 in Rapid Growth Funds, which appreciate by 5% per year, with yields reinvested…

A: Present Value = $10,000 r=5%=0.05t=7 yearsn=4 compounded quarterly Formula used: FV=PV1+rnnt

Q: A principal of $1600 is invested at 5% interest, compounded annually. How much will the investment…

A: Use the compound interest formula, A=P1+rm Where 'r' is the annual rate of interest, m is the time…

Q: If you want to earn 3% annual simple interest on an investment, how much should you pay for a note…

A: Investment

Q: Find the half-life (in hours) of a radioactive substance that is reduced by 10 percent in 90 hours.

A: Half-life = 0.693/(Decay constant)

Q: Suppose that you invest $3,000 at 5% interest compounded monthly. How much money will be in your…

Q: How long would it take for $400 to grow to $2900 if the interest is 6%, compounded quarterly? Round…

A: use the formula A=P1+rnnt since, the interest is compounded quarterly, take n=4 2900=4001+0.0644t…

Q: An investment of $2000 grows at a rate of 3% per year, compounded quarterly. How long will it take…

A: topic - compound interest

Q: How much money should you invest now in order to have $70,000.00 in 26 years? Assume that the money…

Q: If you want to earn 2% annual simple interest on an investment, how much should you pay for a note…

Q: How much money would you have to invest today at 6% APR compounded monthly to accumulate the sum of…

A: The amount of money that has to be invested is given by the following formula.

Q: How long will take 749 SAR to amount to 1,371 SAR at an annual rate of 2% compounded quarterly? (…

Q: How much money

Q: If you deposited $14,000 into an account that compounded interest continuously at a 3.2% rate, how…

A: Given: Principal amountP=$14000, interest rater=3.2% and time periodT=3years We know that final…

Q: How much is in an account after 10 years if $1000 is invested at an interest rate of 2.4%/year…

A: (a)Given:

Q: If $3,000 is invested at 6% compound monthly, what is the amount after 8 years?

A: If $3,000 is invested at 6% compound monthly, what is the amount after 8 years?

Q: We invested $15000 in a project that returns 12% interest compounded annually (yearly). How much…

A: the formula used here, A=p(1+r100)t compund interest(CI)=A-p where, A=amount p=principal invested…

Q: If you want to earn 2% annual simple interest on an investment, how much should you pay for a note…

A: Given: Future value, A=$14,500 Annual simple interest, r=2% Time, t=10 months To find: Present…

Q: If you need $50,000 four years from now, what is the minimum amount of money you need to deposit…

A: A = $50000 , R =3% , t=4 years1) Compounded annuallyA =…

Question

How much money needs to be invested now to get $2000 after 4 years at 8% compounded quarterly? Express your answer to the nearest dollar.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Drew wants to save 2,500 to go to the nextWorld Cup. To the nearest dollar, how much willhe need to invest in an account now with 6.25 APR, compounding daily, in order to reach his goalin 4 years?
What interest rate would you need to get to double an investment of 200 in eight years?
Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and the other pays 5.9% compounded monthly. If he plans to invest 18,000 for 2 years, which investment should he choose? How much extra interest will he earn by making the better choice?
Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed to invest in an account now with 7.5 APR,compounded daily, in order to reach her goal in 3 years?
Jamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount with 8.2 APR, compounding daily, in orderto reach his goal in 5 years?
Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest, compounded monthly. If she opened her account when she was 19 years old, how much will she have by the time she is 55? How much of that amount will be interest earned?