a depositer depositedPhp 1509 in a 3%account compoundedcontinuously. In asecond account, hedeposited Php800 in a9% accountcompoundedcontinuously. How longwill it take for the 2accounts to be the samein amount?

First account: Amount deposited = Php 1509 Interest rate = 3% compounded continuously Second…

Answered: a depositer deposited Php 1509 in a 3%…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

See similar textbooks

Similar questions

you deposit $5,000 in a bank t years ago. Your current account balance is $8,200, and the bank compounded intrest monthly at an intrest rate of 3.5%. how long ago did you deposit the money? that is, find t. round your answer to the nearest tenth of a year.
Calculate the amount of money that will be in each of the following accounts at the end of the given deposit period: Account Holder Amount Deposited AnnualInterest Rate CompoundingPeriods Per Year (M) CompoundingPeriods (Years)Theodore Logan III $1,000 10% 1 10Vernell Coles $95,000 12% 12 1Tina Elliot $8,000 12% 6 2Wayne Robinson $120,000 8% 4 2Eunice Chung $30,000 10% 2 4Kelly Cravens $15,000 12% 3 3
A student decides to make annual payments of Php 1619 into a bank that has a nominal interest of 4% compounded semiannually. How much money will this student have accumulated in this bank account at the end of 13 years?
You have just deposited X dollars in your bank account that pays interest of 6 percent p.a. You discover that at the end of one year you have $ 10,044 in the account. What was X, that is, the amount of money that you deposited today? (Record your answer without a dollar sign, without commas and round your answer to 2 decimal places; that is, record $3,245.847 as 3245.85).
Muhammad opens a bank account paying i(4) = 7.250%. 1 year later, he has $5,139.38 in his account. How much money did he deposit in the account at the start? (No dates or daycount convention are given, so use theoretical time; i.e. 1 year = 365 days = 52 weeks = 12 months etc. and count time in periods. e.g. 3 weeks = 3/52 years; 3 months = 0.25 years, etc.) a. $4,825.83 b. $4,783.07 c. $4,775.94 d. $4,804.45 e. $4,818.70
You put $8000 into an account earning 3%. After 2 years, you make another deposit into the same account. Seven years later ( that is, 9 years after your original $8000 deposit), the account balance is $21000. What was the amount of the deposit at the end of year 2?
Use the formula for continuous compounding to compute the balance in the account after 1,5, and 20 years. Also, find the APY for the account. A $14,000 deposit in an account with an APR of 2.5 % .
Suppose Eli deposits $1,000 into a savings account. The savings account earns4.2% compounded monthly. Find the APY for the account. Round the percent to two decimals.
A person deposited an amount of 1000 dinars in a savings account, what is the accumulated amount in that account after 6 years if the interest rate is 16%, paid once every six months, and four times annually???
what is the future worth of the deposit
1. Mr. Pat Met invested in a bank having an annual payment of Php 100,000 for three years at a 4% annual interest rate. a. How much is the future value? b. Find the total interest earned on the investment.
2. On April 1 Kendrick opened a savings account at a bank that paid 3.55 $1,000. On April 20 he withdrew $500. On April 30 the bank calculated the daily percent interest. His initial deposit was $3,200. On April 9 he deposited another interest. a) How much simple interest did his money earn? b) How much was in the account after the bank calculated the daily interest on April 30?

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

a depositer deposited Php 1509 in a 3% account compounded continuously. In a second account, he deposited Php800 in a 9% account compounded continuously. How long will it take for the 2 accounts to be the same in amount?