Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
thumb_up100%
What is the present value of 1700 dollars to be paid in 5 years, if the effective rate of interest is 6.2 percent? Thank you!
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution
Trending nowThis is a popular solution!
Step by stepSolved in 2 steps with 2 images
Knowledge Booster
Similar questions
- If you put $500 in a bank for 5 years and earn $75 in interest, the interest rate is 4%. True O Falsearrow_forwardWhat interest would be charged on a loan of $3000 at 4% interest for 1 ½ years?arrow_forwardsuppose you borrow 865 for aterm of three years at simple interest and 5.46% apr. determine the total (principal plus interest)you must pay back on the loanarrow_forward
- If a bank advertises "triple your money in 12 years", what simple rate of interest is it offering?arrow_forwardA family has 100,000 in the bank. They want to withdraw 8,000 every year for as long as necessary. How many regular withdrawals of 8,000 can be made? How much is the last withdrawal if it is to be made 1 period after the last regular withdrawal? (i=10%)arrow_forwardIf you invest $600 into an account that compounds monthly and after 8 years the account has $900. What was the interest rate? Show work.arrow_forward
- You want to be able to withdraw $45,000 from your account each year for 30 years after you retire.You expect to retire in 25 years.If your account earns 5% interest, how much will you need to deposit each year until retirement to achieve your retirement goals?arrow_forwardHow would I find annual percentage yield? How is this different from the annual interest rate? Thank you!arrow_forwardWhat present value amounts to $7,000 if it is invested for 18 months at 4% simple interest?arrow_forward
- If the amount that $1000 will purchase is only $930 after 2 years, what was the average inflation rate?arrow_forwardYou want to save $20,000 for a down payment on a home by making regular monthly deposits over five years. Take the APR to be 4%. How much money do you need to deposit each month?arrow_forwardThe simple interest on a $7,600 loan at 7% per year amounted to $4,788. When did the loan mature?arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning
Calculus: Early Transcendentals
Calculus
ISBN:9781285741550
Author:James Stewart
Publisher:Cengage Learning
Thomas' Calculus (14th Edition)
Calculus
ISBN:9780134438986
Author:Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:9780134763644
Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:PEARSON
Calculus: Early Transcendentals
Calculus
ISBN:9781319050740
Author:Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:W. H. Freeman
Calculus: Early Transcendental Functions
Calculus
ISBN:9781337552516
Author:Ron Larson, Bruce H. Edwards
Publisher:Cengage Learning