the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, the APY for the account. A $6000 deposit in an account with an APR of 3.4%. balance in the account after 1 year is approximately $ and to the nearest cent as needed.)

Q: Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20…

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Q: A deposit of $20,000 is placed in a scholarship fund that earns an annual interest rate of 2.75%…

A: Amount deposited Interest rate  compounded daily.Time period  years.We have to find the amount in…

Q: Four thousand dollars is deposited in a savings account at 7​% interest compounded quarterly. Find…

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Q: A bank pays interest at the rate of 6% per year, compounded monthly. If a person deposits $2500 in a…

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Q: . An investment of $2950 earns 6.50% interest per year. Calculate the value of the investment when…

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Q: $4,000 is invested at 3% for 7 years. Find the amount of interest earned if interest is compounded…

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Q: Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20…

A: We have to find the Balance in  account after 1 year is approximately

Q: If $4000 is borrowed at a rate of 6.75% interest per year, compounded quarterly, find the amount due…

A: Topic-compound interest

Q: . Investment If $8000 is invested in an account earning 4% interest compounded monthly, how much…

A: Given, PrincipalP=$8000Time(t)=7 yearsrater=4% compounded monthly

Q: Appa deposits $1000 in an account earning 3.8% interest compounded monthly. How much will Appa have…

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Q: Find the compound amount for the deposit and the amount of interest earned. $2000 at 2% compounded…

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Q: Determine how much time is required for an investment of $5000 to double in value if interest is…

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Q: QUESTION 3. $4500 is deposited for 4.5 years in an account that pays 4.5% interest compounded…

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Q: A grandparent puts $5,000 into a college education fund for a grandchild. If the fund earns 3.75%…

A: Given that: Principal(P) is $5000. The rate of interest(r) is 3.75%. Time(t) is 16 years and n is…

Q: A farmer bought a tractor costing P12,000 if paid in cash. The tractor may be purchased by…

A: Given: initial balance =12000 annual interest rate=8% time period n=5

Q: An investment offers an interest rate of 4% compounded quarterly. Kamala invested an amount of $X in…

A: Given: invested amount(P)=$X, time(T)=6 years, interest rate(r)=4%(compounded quarterly), amount of…

Q: Find the compound amount for the deposit and the amount of interest earned. $6800 at 5.4% compounded…

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Q: If $6,000 is invested at 3% compounded monthly, what is the amount after 9 years? The amount after 9…

A: Invested amount P = $ 6,000               Interest rate  r = 3 %  = 3100 = 0.03…

Q: Find the interest rate for a $6000 deposit accumulating to $7791.53, compounded quarterly for 7…

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