Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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You invest at 7% interest, compounded monthly. How long does it take for your money to triple?
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- Joann invested $28,800 at 13% to be compounded daily. What will be the value of Joann’s investment in 5 years?arrow_forwardAt age 20, Mike inherited $100,000 from his grand parents. Then he invested the money in a bank with 8% annual rate compounded continuously. Find his account balance 45 years later when Mike is 65. Round your answer to the nearest dollar.arrow_forwardMary invests $3500 at 2.75% compounded continuously. How much money will be in the account after 6 years?arrow_forward
- A time deposit account In a bank yields 5.5% compound interest Annually . Jennifer invested P 450 , 000 for 4 years in this account. How much interest ?arrow_forwardCharlie invests $11000 into a savings account that grows at an interest rate of 4.5% per year.How much money will Charlie have in his account after 12 years if it is compounded weekly (n = 52)?arrow_forwardBill saved 42,000 in an account with an annual interest of 5%. The amount of money in the account would be $62,000 after how many years, if interest is compounded quarterly. Round answer to one decimal place. Thank you.arrow_forward
- You invest at 7% interest, compounded weekly. How long does it take your money to double? Show all work step by step pleasearrow_forwardHannah wants to have $ 4500 to help pay for a new deck in 7 years. If she wants to put her money into an account earning 6.25% interest compounded continuously, how much should she invest now, so that she will have $ 4500 in 7 years? Payment amount =arrow_forward$1590 is compounded daily at a rate of 10% for 7 years. Let 1 year=365 days.arrow_forward
- Glory deposited the sum of $50000 in a bank account after 5 months she made another deposit of $125000 and 6month elapse before the withdrawal of $12000 was made.if the interest rate is 5% per annum,calculate how much is left in her account if it is compounded annuallyarrow_forwardMoney deposited in a fund triples every 8 years. If the bank compounds the interest continuously, what annual interest rate is the bank offering?Express your answer as a percentage, rounded to the nearest .01%.arrow_forwardA man wants to buy a $33,000 car. He will put 20 % down and finance the rest over 4 years. How much will his monthly payments be if he borrows the money at 4.8% annual interest, compounded monthly? Give the answer correctly to 2 decimal places. dollars Do NOT use the dollar sign in the answer box.arrow_forward
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