MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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26
How much money should be deposited today in an account that earns 4% compounded semiannually so that it will accumulate to $14,000
in three years?
in three years?
The amount of money that should be deposited is
$________.
(Round up to the nearest cent.)
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- Find the amount that results from the investment. Round the answer to the nearest cent $480 invested at 14% compounded quarterly after a period of 9 years O A. $1,176.13 O B. $1,600.12 OC. $1,656.13 OD. $1,560.94arrow_forwardSuppose you invest $120 a month for 3 years into an account earning 6% compounded monthly. After 3 years, you leave the money, without making additional deposits, in the account for another 20 years. How much will you have in the end? Submit Questionarrow_forwardBrad invests $8 500 in an account paying 4% compounded monthly How much is in the account after 7 months? O A. $11,185.42 O B. $8,700.33 O C. $8,696.71 O D. $8,516.52arrow_forward
- Suppose you have $1400 in your savings account at the end of a certain period of time. You invested $1200 at a 6.4% simple annual interest rate. How long, in years, was your money invested? State your result to the nearest hundredth of a year. Submit Questionarrow_forwardFind the amount of money owed at the end of 5 years if $40,000 is borrowed at 5% per year compounded weekly and no payments are made on the loan. (Simplify your answer completely. Assume there are 52 weeks in a year. Round your answer to the nearest cent.) $arrow_forward
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