Mr. and Mrs. Perry hope to send their son to college in eleven years. How much money should they invest now at an interest rate of 8% per year, compounded continuously, in order to be able to contribute $9000 to his education? Do not round any intermediate computations, and round your answer to the nearest cent.

Q: A newborn child receives a $15,000 gift toward a college education from her grandparents. How much…

A: The gift amount receieved, P=$15000

Q: To the nearest penny, how much would you have to invest right now in a fund paying 5% continuously…

A:

Q: Justin wants to buy a bond that will mature to $6000 in eight years. How much should he pay for the…

A: topic - exponential function

Q: If 10 thousand dollars is invested at an interest rate of 5 percent per year, find the value of the…

A:

Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 12%…

A:

Q: If $25,000 is invested at 8% compounded quarterly, how long (in quarters) will it be before it grows…

A: Here,S=35,000P=25,000r=0.08 n=4

Q: Find the time required for an investment of 4,000 dollars to grow to 10,000 dollars at an interest…

A:

Q: If $13,500 is invested at 8% compounded quarterly, how much will this investment be worth in 24…

A:

Q: What interest will be earned if $6400 is invested for 4 years at 11% compounded monthly? (Round your…

A:

Q: A company needs $8,000,000 in 5 years in order to expand their factory. How much should the company…

A: Solve for investment in each week

Q: A couple needs $50,000 as a down payment for a home. If they invest the $35,000 they have at 4%…

A:

Q: Oliver is going to invest $2,500 and leave it in an account for 18 years. Assuming the interest is…

A:

Q: How much money would you have to invest at 10% compounded semiannually so that the total investment…

A:

Q: How much do you need to invest at the beginning of each of the next 60 months in order to have a…

A: Since the given amount of $100,000 is deposited at beginning of each month, it is annuity due.Then…

Q: What interest will be earned if $6800 is invested for 7 years at 12% compounded monthly? (Round your…

A:

Q: How long did it take for an investment of $30,000 to grow to at least $36,000 at 2.75% compounded…

A:

Q: How long will take it for money to quadruple itself if invested at 20% compounded quarterly? 9.5…

A: Compound Interest Formula:A=P1+rnWhere P= Initial amount           r= interest rate per period…

Q: What interest will be earned if $6100 is invested for 7 years at 13% compounded monthly? (Round your…

A:

Q: How long did it take for an investment of $27,500 to grow to at least $30,000 at 2.25% compounded…

A:

Q: Joshua invested $99,000 in an account paying an interest rate of 4 1/2% compounded continuously.…

A:

Q: An investment fund pays 5% per year, compounded semi-annually, on all money invested. How much must…

A:

Q: How much money would be in an account after 5 years that pays 3% interest, compounded quarterly (4…

A:

Q: Mr. and Mrs. Cooper hope to send their son to college in thirteen years. How much money should they…

A: TO FIND: How much money should they invest now at an interest rate of 9% per year, compounded…

Q: Mr. and Mrs. Rodriguez hope to send their son to college in twelve years. How much money should they…

A: Given  Time = 12 years Interest rate = 9.5% per year , compounded continuously Final amount = $8000…

Q: Jackson invested $4,200 in an account paying an interest rate of 9 1/2 % compounded continuously.…

A: Jackson invested $4,200 in an account paying an interest rate of 9 1/2 % compounded continuously.…

Q: Mr. and Mrs. Kelly hope to send their daughter to college in eleven years. How much money should…

A: Amount in Continuously Compounded interest is:

Q: Matthew invested $4,700 in an account paying an interest rate of 3% compounded monthly. Peyton…

A: We have to find the difference between the amount received by Matthew and Peyton.

Q: Say you have invested $20000 at a yearly interest rate of 19.5% compounded monthly. How many years…

A:

Q: Mr. and Mrs. Thomas hope to send their son to college in 11 years. How much money should they invest…

A: Given problem:- Mr. and Mrs. Thomas hope to send their son to college in 11 years. How much money…

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: Suppose that Tom invests $10,000 in an account that offers r% annual interest, compounded quarterly.…

A:

Q: Recent sales of some real estate and record profits make it possible for a manufacturer to set aside…

A: A manufacturer set aside a fund of $1200000. Thus, Adue=1200000 The payments are made at the…

Q: How long will it take $3,000 to grow to $20,000 if it invested at 6% compounded monthly? ___years…

A:

Q: How much must be invested at the beginning of each year at 11%, compounded annually, to pay off a…

A: r = 11% = 0.11 Compounded annually, i.e. n = 1 t = 5 To pay of debt, i.e. A = $30000

Q: 2. Suppose Carlo has P34,500 to invest but wants P40,000 for a new pair of branded rubbershoes. He…

A:

Q: Tom needs $2500 for a future project. He can invest $2000 now at an annual rate of 10%, compounded…

A:

Q: How long did it take for an investment of $23,750 to grow to at least $27,000 at 2.25% compounded…

A:

Q: The managers of a pension fund have invested $1,500,000 in U.S. government certificates of deposit…

A:

Q: Mike and Terri estimate that they want to buy a house for $174,000.00, and they need to make a down…

A: Given data:   The given cost of a house is C=$174,000.00. The given percentage of the down payment…

Q: If $11,500 is invested at 10% compounded quarterly, how much will this investment be worth in 3…

A: Let P be the amount invested , r be rate of interest compounded quarterly, n be number of periods in…

Q: 4. How many years (to the nearest tenth) will it take for a $1500 investment to double with an…

A:

Q: Joshua invested $99,000 in an account paying an interest rate of 4÷% compounded continuously.…

A:

Q: What present value P amounts to $260,000 if it is invested at 7%, compounded semiannually, for 18…

A: Given that present value P amounts to $260,000 if it is invested at 7%, compounded semiannually, for…

Q: What present value amounts to $20,000 if it is invested for 15 years at 7% compounded annually?…

A:

Q: What present value P amounts to $300,000 if it is invested at 8%, compounded semiannually, for 18…

A:

Q: What annual interest rate would allow Karen to double her investment if it is compounded quarterly…

A: The compound interest formula for an initial amount P deposited for a time period of t at a rate of…

Q: Morgan is going to invest $8,200 and leave it in an account for 10 years. Assuming the interest is…

A: A=$16500 P=$8200 t=10 years n=12 (compounded monthly) We have to found intrest rate

Q: How long will it take $2,000 to grow to $24,000 if it is invested at 5% compounded monthly? years…

A: