Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Time Nominal Interest Compound Compound Principal Period (years) Rate (%) Compounded Amount Interest $24,000 13 5 annually Periods 1% 1% 11% 2% 3% 4% 5% 6% 7% 8% Periods 2 1 1.00500 1.01000 1.01500 1.02000 1.03000 1.04000 1.05000 1.06000 1.07000 1.08000 1 2 1.01003 1.02010 1.03023 1.04040 1.06090 1.08160 1.10250 1.12360 1.14490 1.16640 2 3 1.01508 1.03030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 3 4 1.02015 1.04060 1.06136 1.08243 1.12551 1.16986 1.21551 1.26248 1.31080 1.36049 4 5 1.02525 1.05101 1.07728 1.10408 1.15927 1.21665 1.27628 1.33823 1.40255 1.46933 5 6 1.03038 1.06152 1.09344 1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 10 67890 1.03553 1.07214 1.10984 1.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.71382 1.04071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 1.04591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.05114 1.10462 1.16054 1.21899 1.34392 1.48024 1.62889 1.79085 1.83846 1.99900 1.96715 2.15892 10 67890 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.71034 1.89830 2.10485 2.33164 11 25 2216 62222 22223 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2.51817 13 1.06699 1.13809 1.21355 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 14 1.07232 1.14947 1.23176 1.31948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 15 1.07768 1.16097 1.25023 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3.17217 12345 16 1.08307 1.17258 1.26899 1.37279 1.60471 1.87298 2.18287 2.54035 2.95216 3.42594 17 1.08849 1.18430 1.28802 1.40024 1.65285 1.94790 2.29202 18 1.09393 1.19615 1.30734 1.42825 1.70243 2.02582 19 1.09940 1.20811 1.32695 1.45681 1.75351 2.10685 2.40662 2.52695 3.02560 2.69277 2.85434 3.15882 3.70002 3.37993 3.99602 20 1.10490 1.22019 1.34686 1.48595 1.80611 2.19112 2.65330 3.20714 3.61653 4.31570 3.86968 4.66096 21 1.11042 1.23239 1.36706 1.51567 1.86029 2.27877 2.78596 3.39956 4.14056 5.03383 21 1.11597 1.24472 1.38756 1.54598 1.91610 2.36992 2.92526 3.60354 4.43040 5.43654 1.12155 1.25716 1.40838 1.57690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87146 23 24 1.12716 1.26973 1.42950 1.60844 2.03279 2.56330 3.22510 4.04893 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 5.07237 6.34118 5.42743 6.84848 67822 22222 16 17 18 19 20 25 Periods 9% 10% 11% 12% 13% 14% 15% 1 1.09000 1.10000 1.11000 1.12000 1.13000 1.14000 1.15000 2 1.18810 1.21000 1.23210 1.25440 1.27690 1.29960 1.32250 3 1.29503 1.33100 1.36763 1.40493 1.44290 1.48154 1.52088 16% 1.16000 1.34560 1.56090 1.60161 17% 18% 1.17000 1.18000 1.36890 1.39240 Periods 1 2 1.64303 3 4 1.41158 1.46410 1.51807 1.57352 1.63047 1.68896 1.74901 1.81064 1.87389 1.93878 4 5 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2.19245 2.28776 5 6 1.67710 1.77156 1.87041 1.97382 2.08195 2.19497 2.31306 7 1.82804 1.94872 2.07616 2.21068 2.35261 2.50227 2.66002 8 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 9 2.17189 2.35795 2.55804 2.77308 3.00404 3.25195 3.51788 10 2.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 2.43640 2.82622 3.00124 3.18547 3.27841 3.51145 3.75886 3.80296 4.10840 4.43545 4.41144 5.23384 2.56516 2.69955 678 9 4.80683 10 11 2.58043 2.85312 3.15176 12 2.81266 3.13843 3.49845 13 3.06580 3.45227 3.88328 3.47855 3.83586 4.22623 3.89598 4.33452 4.81790 4.36349 4.89801 5.49241 14 3.34173 3.79750 4.31044 4.88711 5.53475 6.26135 15 3.64248 4.17725 4.78459 5.47357 6.25427 7.13794 4.65239 5.11726 5.62399 6.17593 5.35025 5.93603 6.58007 7.28759 6.15279 6.88579 7.69868 8.59936 7.07571 7.98752 9.00745 10.14724 8.13706 9.26552 10.53872 11.97375 ⑆2315 11 14 61822 222 3.97031 4.59497 5.31089 6.13039 7.06733 17 4.32763 5.05447 5.89509 6.86604 4.71712 5.55992 6.54355 7.68997 19 20 5.14166 5.60441 6.11591 7.26334 6.72750 8.06231 8.13725 9.35762 7.98608 9.27646 10.76126 9.02427 10.57517 8.61276 10.19742 12.05569 9.64629 11.52309 13.74349 10.74800 12.33030 14.12902 12.46768 14.42646 16.67225 12.37545 14.46251 16.87895 19.67325 14.23177 16.77652 19.74838 23.21444 16.36654 19.46076 23.10560 27.39303 21 6.10881 6.65860 23 7.25787 24 25 7.40025 8.94917 10.80385 13.02109 15.66758 8.14027 9.93357 12.10031 14.71383 17.86104 8.95430 11.02627 13.55235 16.62663 20.36158 7.91108 9.84973 12.23916 15.17863 18.78809 23.21221 8.62308 10.83471 13.58546 17.00006 21.23054 26.46192 18.82152 22.57448 27.03355 32.32378 21.64475 26.18640 31.62925 38.14206 24.89146 30.37622 37.00623 45.00763 28.62518 35.23642 43.29729 53.10901 32.91895 40.87424 50.65783 62.66863 21 61822 22222 17 19 20 23 24 25
Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Time Nominal Interest Compound Compound Principal Period (years) Rate (%) Compounded Amount Interest $24,000 13 5 annually Periods 1% 1% 11% 2% 3% 4% 5% 6% 7% 8% Periods 2 1 1.00500 1.01000 1.01500 1.02000 1.03000 1.04000 1.05000 1.06000 1.07000 1.08000 1 2 1.01003 1.02010 1.03023 1.04040 1.06090 1.08160 1.10250 1.12360 1.14490 1.16640 2 3 1.01508 1.03030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 3 4 1.02015 1.04060 1.06136 1.08243 1.12551 1.16986 1.21551 1.26248 1.31080 1.36049 4 5 1.02525 1.05101 1.07728 1.10408 1.15927 1.21665 1.27628 1.33823 1.40255 1.46933 5 6 1.03038 1.06152 1.09344 1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 10 67890 1.03553 1.07214 1.10984 1.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.71382 1.04071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 1.04591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.05114 1.10462 1.16054 1.21899 1.34392 1.48024 1.62889 1.79085 1.83846 1.99900 1.96715 2.15892 10 67890 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.71034 1.89830 2.10485 2.33164 11 25 2216 62222 22223 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2.51817 13 1.06699 1.13809 1.21355 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 14 1.07232 1.14947 1.23176 1.31948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 15 1.07768 1.16097 1.25023 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3.17217 12345 16 1.08307 1.17258 1.26899 1.37279 1.60471 1.87298 2.18287 2.54035 2.95216 3.42594 17 1.08849 1.18430 1.28802 1.40024 1.65285 1.94790 2.29202 18 1.09393 1.19615 1.30734 1.42825 1.70243 2.02582 19 1.09940 1.20811 1.32695 1.45681 1.75351 2.10685 2.40662 2.52695 3.02560 2.69277 2.85434 3.15882 3.70002 3.37993 3.99602 20 1.10490 1.22019 1.34686 1.48595 1.80611 2.19112 2.65330 3.20714 3.61653 4.31570 3.86968 4.66096 21 1.11042 1.23239 1.36706 1.51567 1.86029 2.27877 2.78596 3.39956 4.14056 5.03383 21 1.11597 1.24472 1.38756 1.54598 1.91610 2.36992 2.92526 3.60354 4.43040 5.43654 1.12155 1.25716 1.40838 1.57690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87146 23 24 1.12716 1.26973 1.42950 1.60844 2.03279 2.56330 3.22510 4.04893 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 5.07237 6.34118 5.42743 6.84848 67822 22222 16 17 18 19 20 25 Periods 9% 10% 11% 12% 13% 14% 15% 1 1.09000 1.10000 1.11000 1.12000 1.13000 1.14000 1.15000 2 1.18810 1.21000 1.23210 1.25440 1.27690 1.29960 1.32250 3 1.29503 1.33100 1.36763 1.40493 1.44290 1.48154 1.52088 16% 1.16000 1.34560 1.56090 1.60161 17% 18% 1.17000 1.18000 1.36890 1.39240 Periods 1 2 1.64303 3 4 1.41158 1.46410 1.51807 1.57352 1.63047 1.68896 1.74901 1.81064 1.87389 1.93878 4 5 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2.19245 2.28776 5 6 1.67710 1.77156 1.87041 1.97382 2.08195 2.19497 2.31306 7 1.82804 1.94872 2.07616 2.21068 2.35261 2.50227 2.66002 8 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 9 2.17189 2.35795 2.55804 2.77308 3.00404 3.25195 3.51788 10 2.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 2.43640 2.82622 3.00124 3.18547 3.27841 3.51145 3.75886 3.80296 4.10840 4.43545 4.41144 5.23384 2.56516 2.69955 678 9 4.80683 10 11 2.58043 2.85312 3.15176 12 2.81266 3.13843 3.49845 13 3.06580 3.45227 3.88328 3.47855 3.83586 4.22623 3.89598 4.33452 4.81790 4.36349 4.89801 5.49241 14 3.34173 3.79750 4.31044 4.88711 5.53475 6.26135 15 3.64248 4.17725 4.78459 5.47357 6.25427 7.13794 4.65239 5.11726 5.62399 6.17593 5.35025 5.93603 6.58007 7.28759 6.15279 6.88579 7.69868 8.59936 7.07571 7.98752 9.00745 10.14724 8.13706 9.26552 10.53872 11.97375 ⑆2315 11 14 61822 222 3.97031 4.59497 5.31089 6.13039 7.06733 17 4.32763 5.05447 5.89509 6.86604 4.71712 5.55992 6.54355 7.68997 19 20 5.14166 5.60441 6.11591 7.26334 6.72750 8.06231 8.13725 9.35762 7.98608 9.27646 10.76126 9.02427 10.57517 8.61276 10.19742 12.05569 9.64629 11.52309 13.74349 10.74800 12.33030 14.12902 12.46768 14.42646 16.67225 12.37545 14.46251 16.87895 19.67325 14.23177 16.77652 19.74838 23.21444 16.36654 19.46076 23.10560 27.39303 21 6.10881 6.65860 23 7.25787 24 25 7.40025 8.94917 10.80385 13.02109 15.66758 8.14027 9.93357 12.10031 14.71383 17.86104 8.95430 11.02627 13.55235 16.62663 20.36158 7.91108 9.84973 12.23916 15.17863 18.78809 23.21221 8.62308 10.83471 13.58546 17.00006 21.23054 26.46192 18.82152 22.57448 27.03355 32.32378 21.64475 26.18640 31.62925 38.14206 24.89146 30.37622 37.00623 45.00763 28.62518 35.23642 43.29729 53.10901 32.91895 40.87424 50.65783 62.66863 21 61822 22222 17 19 20 23 24 25
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Transcribed Image Text:Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.)
Time
Nominal
Interest
Compound
Compound
Principal
Period (years)
Rate (%) Compounded
Amount
Interest
$24,000
13
5
annually
Transcribed Image Text:Periods
1%
1%
11%
2%
3%
4%
5%
6%
7%
8%
Periods
2
1
1.00500
1.01000
1.01500
1.02000
1.03000
1.04000
1.05000
1.06000
1.07000
1.08000
1
2
1.01003
1.02010
1.03023
1.04040
1.06090 1.08160
1.10250
1.12360
1.14490
1.16640
2
3
1.01508
1.03030
1.04568
1.06121
1.09273
1.12486
1.15763
1.19102
1.22504
1.25971
3
4
1.02015
1.04060
1.06136
1.08243
1.12551
1.16986
1.21551
1.26248
1.31080
1.36049
4
5
1.02525
1.05101
1.07728
1.10408
1.15927
1.21665
1.27628
1.33823
1.40255
1.46933
5
6
1.03038
1.06152
1.09344
1.12616
1.19405
1.26532
1.34010
1.41852
1.50073 1.58687
10
67890
1.03553
1.07214
1.10984
1.14869
1.22987
1.31593
1.40710
1.50363
1.60578 1.71382
1.04071
1.08286
1.12649
1.17166
1.26677
1.36857
1.47746
1.59385
1.71819 1.85093
1.04591
1.09369
1.14339
1.19509
1.30477
1.42331
1.55133
1.68948
1.05114
1.10462
1.16054
1.21899
1.34392
1.48024
1.62889
1.79085
1.83846 1.99900
1.96715 2.15892
10
67890
11
1.05640
1.11567
1.17795
1.24337
1.38423
1.53945
1.71034
1.89830
2.10485 2.33164
11
25
2216 62222 22223
1.06168
1.12683
1.19562
1.26824
1.42576
1.60103
1.79586
2.01220
2.25219 2.51817
13
1.06699
1.13809
1.21355
1.29361
1.46853
1.66507
1.88565
2.13293
2.40985 2.71962
14
1.07232
1.14947
1.23176
1.31948
1.51259
1.73168
1.97993
2.26090
2.57853 2.93719
15
1.07768 1.16097
1.25023
1.34587
1.55797
1.80094
2.07893
2.39656
2.75903 3.17217
12345
16
1.08307
1.17258
1.26899
1.37279
1.60471
1.87298
2.18287
2.54035
2.95216 3.42594
17
1.08849
1.18430
1.28802
1.40024
1.65285
1.94790
2.29202
18
1.09393
1.19615
1.30734
1.42825
1.70243
2.02582
19
1.09940 1.20811
1.32695
1.45681
1.75351
2.10685
2.40662
2.52695 3.02560
2.69277
2.85434
3.15882 3.70002
3.37993 3.99602
20
1.10490
1.22019
1.34686
1.48595
1.80611
2.19112
2.65330
3.20714
3.61653 4.31570
3.86968 4.66096
21
1.11042
1.23239
1.36706
1.51567
1.86029
2.27877
2.78596
3.39956
4.14056 5.03383
21
1.11597
1.24472
1.38756
1.54598
1.91610
2.36992
2.92526
3.60354
4.43040 5.43654
1.12155
1.25716
1.40838
1.57690
1.97359
2.46472
3.07152
3.81975
4.74053 5.87146
23
24
1.12716
1.26973
1.42950
1.60844
2.03279
2.56330
3.22510
4.04893
1.13280
1.28243
1.45095
1.64061
2.09378
2.66584
3.38635
4.29187
5.07237 6.34118
5.42743 6.84848
67822 22222
16
17
18
19
20
25
Periods
9%
10%
11%
12%
13%
14%
15%
1
1.09000
1.10000
1.11000
1.12000
1.13000
1.14000
1.15000
2
1.18810
1.21000
1.23210
1.25440
1.27690
1.29960
1.32250
3
1.29503
1.33100
1.36763
1.40493
1.44290
1.48154
1.52088
16%
1.16000
1.34560
1.56090 1.60161
17%
18%
1.17000 1.18000
1.36890 1.39240
Periods
1
2
1.64303
3
4
1.41158
1.46410
1.51807
1.57352 1.63047
1.68896
1.74901
1.81064
1.87389
1.93878
4
5
1.53862
1.61051
1.68506
1.76234
1.84244
1.92541
2.01136
2.10034
2.19245
2.28776
5
6
1.67710
1.77156
1.87041
1.97382
2.08195
2.19497
2.31306
7
1.82804
1.94872
2.07616
2.21068
2.35261
2.50227
2.66002
8
1.99256
2.14359
2.30454
2.47596
2.65844
2.85259
3.05902
9
2.17189 2.35795
2.55804
2.77308
3.00404
3.25195
3.51788
10
2.36736
2.59374 2.83942
3.10585
3.39457
3.70722
4.04556
2.43640
2.82622 3.00124 3.18547
3.27841 3.51145 3.75886
3.80296 4.10840 4.43545
4.41144
5.23384
2.56516
2.69955
678
9
4.80683
10
11
2.58043
2.85312
3.15176
12
2.81266
3.13843
3.49845
13
3.06580
3.45227
3.88328
3.47855 3.83586 4.22623
3.89598 4.33452 4.81790
4.36349 4.89801 5.49241
14
3.34173
3.79750
4.31044
4.88711
5.53475
6.26135
15
3.64248
4.17725
4.78459
5.47357
6.25427
7.13794
4.65239 5.11726 5.62399 6.17593
5.35025 5.93603 6.58007 7.28759
6.15279 6.88579 7.69868 8.59936
7.07571 7.98752 9.00745 10.14724
8.13706 9.26552 10.53872 11.97375
⑆2315
11
14
61822 222
3.97031
4.59497
5.31089
6.13039
7.06733
17
4.32763
5.05447
5.89509
6.86604
4.71712 5.55992
6.54355
7.68997
19
20
5.14166
5.60441
6.11591 7.26334
6.72750 8.06231
8.13725 9.35762
7.98608 9.27646 10.76126
9.02427 10.57517
8.61276 10.19742 12.05569
9.64629 11.52309 13.74349
10.74800 12.33030 14.12902
12.46768 14.42646 16.67225
12.37545 14.46251 16.87895 19.67325
14.23177 16.77652 19.74838 23.21444
16.36654 19.46076 23.10560 27.39303
21
6.10881
6.65860
23
7.25787
24
25
7.40025 8.94917 10.80385 13.02109 15.66758
8.14027 9.93357 12.10031 14.71383 17.86104
8.95430 11.02627 13.55235 16.62663 20.36158
7.91108 9.84973 12.23916 15.17863 18.78809 23.21221
8.62308 10.83471 13.58546 17.00006 21.23054 26.46192
18.82152 22.57448 27.03355 32.32378
21.64475 26.18640 31.62925 38.14206
24.89146 30.37622 37.00623 45.00763
28.62518 35.23642 43.29729 53.10901
32.91895 40.87424 50.65783 62.66863
21
61822 22222
17
19
20
23
24
25
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