The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Find how much money will be in the account after the given number of years (Assume 360 days in a year.), and how much interest was earned. A = PntP = A = PertY = n - 1 Principal: $6500 Rate: 7% Compounded: quarterly Time: 4 years
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The principal represents an amount of money deposited in a savings account subject to
A = PntP = A = PertY = n - 1
Principal: $6500
Rate: 7%
Compounded: quarterly
Time: 4 years
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- An amount of money P is deposited in a savings account that pays interest at a rate of r percent per year compounded quarterly; the principal and accumulated interest are left in the account. Find a formula for the total amount in the account after n years.The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Click the icon to view some finance formulas. A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. A. The amount of money in the account after 2 years is $. (Round to the nearest hundredth as needed.) Principal $7000 B. The amount of interest earned is $ (Round to the nearest hundredth as needed.) Rate 7% Compounded quarterly Time 2 yearsThe principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. A. Find how much money there will be in the account after the given amount of years. B. Find the interest earned. Principal $7000Rate 4% Compounded Semi-annually Time 3 years
- For the given principal, interest rate, and time period, determine the amount of interest that would be earned in an account paying simple interest. Also determine the amount of interest that would be earned in an account paying compound interest with interest compounded annually. Determine how much more interest would be earned in the account paying compound interest. Round to the nearest cent. Principal: $810 Rate: 4% Years: 17When interest is compounded continuously, the amount of money increases at a rate proportional to the amount S present at time t, that is, dS/dt = rS, where r is the annual rate of interest. (a) Find the amount of money accrued at the end of 7 years when $9000 is deposited in a savings account drawing 5% annual interest compounded continuously. (Round your answer to the nearest cent. $ 11702 (b) In how many years will the initial sum deposited have doubled? (Round your answer to the nearest year.) 12 years (c) Use a calculator to compare the amount obtained in part (a) with the amount S = 900 7(4) that is accrued when interest is compounded quarterly. (Round your answer to the nearest 1+ cent.) S= $The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. Click the icon to view some finance formulas. A. The amount of money in the account after 3 years is $. (Round to the nearest hundredth as needed.) B. The amount of interest earned is $ (Round to the nearest hundredth as needed.) Principal $6000 Rate 5% Compounded annually Time 3 years
- The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. A Find how much money there will be in the account after the given number of years. 8. Find the interest earned. Click the icon to view some finance formulas A The amount of money in the account after 3.5 years is (Round to the nearest hundredth as needed.) Principal $9500 Rate 7.5% Compounded daily Time 3.5 yearsWhen interest is compounded continuously, the amount of money Increases at a rate proportional to the amount S present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) Find the amount of money accrued at the end of 8 years when $9000 is deposited in a savings account drawing 5% annual interest compounded continuously. (Round your answer to the nearest cent.) $ 13698 4 X (b) In how many years will the initial sum deposited have doubled? (Round your answer to the nearest year.) years (c) Use a calculator to compare the amount obtained in part (a) with the amount S= 9000 1 + S = $ 9000(1+(0.0525))** 8(4) that is accrued when interest is compounded quarterly (Round your answer to the nearest cent.)2. Deposit the principal amount of P10,000 into a savings account that pays interest at the rate of 5%. What is the amount in the account after 1 year if the account is: a. compounded annually b. compounded semi-annually c. compounded quarterly d. compounded monthly e. Which is advantageous to the investor?
- The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal $8000 Compounded semiannually Rate Time 6% 4 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned. A. The amount of money in the account after 4 years is $ (Round to the nearest hundredth as needed.) B. The amount of interest earned is $. (Round to the nearest hundredth as needed.)Find the accumulated amount of P 1000 after 5 years when deposited in a bank at a rate of 16% compounded monthlysuppose that $2700 is set aside each year and invested in a savings account that pays 8% interest per year, componded continously, part a: determined the accumuluated savings in this account at teh end of 25 yrs. part b: in part a,suppose that an annuity will be withdrawn from savings that have been accumulated at the EOY 25. The annuity will extend from teh EOY 26 to EOY 33, what is the value of this annuity if teh interest rate and componding frquency in part a do not change