When $8,600 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can obtained from the equation i=8,600r, where r is the rate of interest in decimal form. Graph i=8,600r, for r up të including a rate of 16%. If the rate is 7%, how much interest is earned?
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- When $8,600 is invested in a savings account paying simple interest for the year, the interest, i in dollars, can be obtained from the equation i=8,600r, where r is the rate of interest in decimal form. Graph i=8,600r, for r up to and including a rate of 16%. If the rate is 7%, how much interest is earned? OA. $6,020 OB. $602 OC. $586 OD. $622The principal P is borrowed at simple interest rate r for a period of time t. Find the loan's future value, A, or the total amount due at time t. P=$4000, r= 7.5%, t= 9 months The future value is $ (Simplify your answer. Type an integer or a decimal.)A saving account earns compound interest at an annual effective interest rate i. Given that d12,41 = 0.08, Find i1,51- %3D
- Suppose that P dollars in principal is invested in an account earning 2.1% interest compounded continuously. At the end of 2 yr, the amount in the account has earmed $193.03 in interest. a. Find the original principal. Round to the nearest dollar. (Hint: Use the model A = Pe" and substitute P + 193.03 for A.) b. Using the original principal from part (a) and the model A = Pe", determine the time required for the investment to reach $6000. Round to the nearest tenth of a year.The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year. P = $3000, r = 3%, t = 1 year $ €...An account paying annual compound interest was opened with OMR2,000 10 years ago. Today, the account balance is OMR3,500. If the same interest rate is offered on an account paying simple interest, how much income would be earned each year over the same time period? Select one: O a. OMR150.0o O b.OMR 92.60 O COMR115.20 O d. OMR 80.40 O e. OMR 56.90
- Assume the average management cost per account per year is $200 and the average fees earned per account per year is $170. The average annual size of account is $1800. What is the average implicit interest rate (round to two decimals)? Select one: a. 4.86% b. 1.67% c. 15% d. -1.67%A certain some of money P draws interest compounded continuously. If a certain time there are Po dollars in the account, determine the time when the financial attains the value of 2Po dollars if the annual interest rate at 2%The current amount A of a principal P invested in a savings account paying an annual interest rate r is given by A = P(1+r/n)^(rt) where n is the number of times per year the interest is compounded. For continuous compounding, A = Pe^(rt). Suppose $10,000 is initially invested at 2.5 percent (r = 0.025). a. Plot A versus t for 0 ≤ t ≤ 20 years for four cases: continuous compounding, annual compounding (n = 1), quarterly compounding (n = 4), and monthly compounding (n = 12). Show all four cases on the same subplot and label each curve. On a second subplot, plot the difference between the amount obtained from continuous compounding and the other three cases. b. Redo part a, but plot A versus t on log-log and semilog plots. Which plot gives a straight line?
- 8. Computing APY. What would be the annual percentage yield for a savings account that earned $56 in interest on $800 over the past 365 days? pe here to search Cop 17 10 16 40 12 3 7. 4. 96 立 %24 3. %23Find the amount owed on an investment of $10,000 into a money market account that pays a simple interest rate of 1.75% over a 39 wk periodSuppose that P dollars in principal is invested in an account earning 3.2% interest compounded continuously. At the end of 5 yr, the amount in the account has earned $1388.09 in interest. Part: 0 / 2 Part 1 of 2 (a) Find the original principal. Round to the nearest dollar. (Hint: Use the model A = Pe' and substitute P+1388.09 for A.) The original principal was approximately S