If $900 is deposited in an account paying 9 % annual interest, compounded continuously, how long will it take for the account to increase to $1500? Round your answer to the nearest hundredth of a year. about years TIP

Q: My aunt invests $1000 in an account that is continuously compounded at a 5% interest rate. How much…

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Q: Assume that there are no deposits or withdrawals An initial investment of $6,000 earns 8.7%…

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Q: To help their son buy a car on his 16th birthday, a boy's parents invest $7500 on his 10th birthday.…

A: For compounded continuously A=Pert  P=initial amount r=rate of interest t=time in years A=Amount in…

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

A: Topic = Algebra

Q: What interest will be earned if $6600 is invested for 2 years at 12% compounded monthly? (Round your…

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Q: If $1500 is invested at an interest rate of 5.75% per year, compounded quarterly, find the value of…

A: Here we find the compound interest on investment.

Q: In the year 1977 a new house was appraised at $182000. According to the CPI data, how much should a…

A: Given that, In the year 1977 a new house was appraised at $182000.

Q: Recently, a certain bank offered a 5-year CD that earns 2.45% compounded continuously. Use the given…

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Q: A deposit of $4,000 is made in a college savings fund that pays 5.0% interest, compounded…

A: We need to find the amount received after 20 years.

Q: A sum of $4000 is placed in a savings account at 7% per annum. How much is in the account after 40…

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Q: You deposit $4000 in an account earning 5% interest compounded continuously. How much will you have…

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Q: To help their son buy a car on his 16th birthday, a boy's parents invest $7500 on his 10th birthday.…

A: Principal amount, P=$ 7500 Rate of interest, r= 7% Time, t= 6 years

Q: At a 8% interest compounded monthly, how long will it take to turn a hundred dollars into a million…

A: Initial amount= P= 100  Final amount = A= 1000000  Interest rate= r= 8%=0.08  Time=t=? Number of…

Q: If $2000 is invested at an interest rate of 4.5% per year, compounded daily, find the value of the…

A: Given that the initial investment = P = $2000 Interest rate=r= 4.5%= 0.045  Number of times…

Q: An investment of $89,800.00 earns 12% annual interest, compounded continuously. If no funds are…

A: We will compute the future value as following.

Q: Find the amount of money an investment of $15,000 compounded continuously for 10 years at 6.25%…

A: Given: Principal = P = $15,000 Annual rate = R = 6.25% Time = 10 years   To find: Final Amount = A

Q: If $2500 is invested at an interest rate of 5.5% per year, compounded continuously, find the value…

A: Solution Given If $2500 is invested at an interest rate of 5.5% per year, compounded continuously,…

Q: If 1800 dollars is invested in an account for 10 years. Find the value of the investment at the end…

A: To find the future value of the investment compounded annually, substitute 1800 for P, 0.05 for r, 1…

Q: If $3500 is invested at an interest rate of 6.25% per year, compounded continuously, find the value…

A: A=P ertP is the invested amount.A is the amount after t years

Q: An investment of $91,000.00 earns 19.4% annual interest, compounded continuously. If no funds are…

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Q: If $1000 is invested at an interest rate of 3.5% per year, compounded daily, find the value of the…

A: Given data  Investment P=1000  interest rate r=3.5% =0.035  Compounded daily=n=365  Value of the…

Q: An investment of $23,400.00 earns 11% annual interest, compounded continuously. If no funds are…

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Q: An account is opened with an initial deposit of $100 and earns 3.0% interest compounded monthly.…

A: From the given data

Q: If $4000 is invested at an interest rate of 8.25% per year, compounded continuously, find the value…

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Q: Second National Bank offers an account that earns 3.86% per year, compounded continuously. If a…

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Q: Second National Bank offers an account that earns 3.58% per year, compounded continuously. If a…

A: Amount for continuous compounding: If P amount of money is invested for t years at r% rate of…

Q: Which of the given interest rates and compounding periods would provide the better investment?(a) 5%…

A: r=5%=0.05, n=2 a). By using compound interest formula, we have A=P1+rnn·t=P1+0.0522t=P1.0252t

Q: |Second National Bank offers an account that earns 4.89% per year, compounded continuously. If a…

A: Recall the following fact.

Q: How much money would be in an account if $2, 000 is deposited at 6 % interest compounded…

A: *concept:- compound interest formula.

Q: Rochelle deposits $5,000 in an IRA. What will be the value (in dollars) of her investment in 15…

A: Use compound interest formula.

Q: An investment of $1,000.00 earns 1.2% annual interest, compounded continuously. If no funds are…

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Q: If you invest $1200 in an account paying 9% compounded continuously, how much money will be in the…

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Q: Shemp has inherited $50,000 from a recently deceased long-lost aunt. He invests his newfound money…

A: For continuously compounded interest A=Pert where, A= Amountr= rate of interestt=time in year

Q: nearest

A: Please refer to the image below

Q: Aubrey invested $61,000 in an account paying an interest rate of 1.9% compounded continuously.…

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Q: An account contains $2,000 and has been earning 9% interest, compounded continuously. How much will…

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Q: A deposit of $4,000 is made in a college savings fund that pays 5.0% interest, compounded…

A: The formula for continuous compounding is, A = Pert  where, P = the initial amount A = the final…

Q: If $2000 is invested at an interest rate of 6.5% per year, compounded daily, find the value of the…

A: So in this problem we are going to use standard formula for calculating the final compounded money…

Q: Rochelle deposits $4,000 in an IRA. What will be the value (in dollars) of her investment in 25…

A: We can make it easier for you

Q: A stock broker allocated $100,000 to an account earning 4% per year compounded continuously. If no…

A: Given problem Given that   A stock broker allocated $100,000 to an account earning 4% per year…

Q: How long would it take to double your money in an account paying 6% compounded quarterly?…

A: Use the following formula to calculate amount, as follows: A=P1+r100n

Q: You invest your life savings into an account with continuously compounded interest, and you find…

A: Investment is according to continuously compounded interest. Principle amount (invested)= P0 Amount…

Q: Diego deposited a certain sum of money in a bank 3 years ago. If the bank had been paying interest…

A: For continuous compounding:       A = Per*t P =  initial deposit to the account  A = Accumulated…

Q: Find the amount of time required to double an amount at 5.84% if interest is compounded…

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Q: Steve invests $1,800 in an account that earns 3.7% annual interest, compounded continuously. What is…

A: Present value is the sum of money that must be invested in order to achieve a specific future goal.…

Q: You deposit $5000 in an account earning 5% interest compounded continuously. How much will you have…

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Q: d. If the same account and interest were compounded continuously, how much money would the account…

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Q: If you leave $1400 in an account earning 7% interest, compounded daily, how much money will be in…

A: To find the money  in the account after 4 years.

Q: If $10,500 accumulates interest at an annual rate of 8%, compounded continuously, how much will be…

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Q: Darren accumulated $9,000 in credit card debt. If the interest rate is 4.1% per year and he does not…

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