Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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find the interest rate needed for an investment of $5000 to grow to an amount of $7000 in 9 years if interest is compounded monthly ?
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- A company needs $6,500,000 in 7 years in order to expand their factory. How much should the company invest each week if the investment earns a rate of 6% compounded weekly?arrow_forwardIf you invest $100 each month into an account earning 4.5% compounded monthly, how long will it take the account to grow to $20,000.arrow_forwardFind the interest rate needed for an investment of $3,000 to grow to an amount of $4,000 in 9 years if interest is compounded annually. (Round your answer to the nearest hundredth of a percentage point.)arrow_forward
- If Gabriel wants to accumulate $ 20,000 in 6 years to buy a car, how much would he need to invest today at 5 % % / a compounded semi-annually? *arrow_forwardAn investment has grown from $15,000 to $17,684.23 in 3 years, compounding monthly. What was the interest rate?arrow_forwardAn investment has grown from $50,000 to $100,000 (which means it doubles) in 5 years compounding quarterly.arrow_forward
- how much money should be invested now in order to have $18,000 in 4 years if the investment earns 5.4% compounded dailyarrow_forwardSuppose $50,000 is invested at l2% interest compounded monthly. In how many yearswill it be worth $1,000,000arrow_forwardTo the nearest year, how long would an investment need to be left in the bank at 5%, compounded annually for the investment to triple?arrow_forward
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