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. For example, if Eloisa invests in an I-bond which compounds twice a year with APR 8%, 8% then each 6 months, the money in the account will be assessed 4% interest. This is 4% semi-annual growth. Thus the growth factor is 1.04. (a) Fill in the table for how much money is in Eloisa's I-bond at each time after initial investment of $200, assuming the interest rate does not change. 1 year 1.5 years 2 years t amount = 0 months 6 months $200 t years (b) As a percent, how much larger is Eloisa's account after one year compared to her original investment? What was the percent change?

. For example, if Eloisa invests in an I-bond which compounds twice a year with APR 8%, 8% then each 6 months, the money in the account will be assessed 4% interest. This is 4% semi-annual growth. Thus the growth factor is 1.04. (a) Fill in the table for how much money is in Eloisa's I-bond at each time after initial investment of $200, assuming the interest rate does not change. 1 year 1.5 years 2 years t amount = 0 months 6 months $200 t years (b) As a percent, how much larger is Eloisa's account after one year compared to her original investment? What was the percent change?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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. For example, if Eloisa invests in an I-bond which compounds twice a year with APR 8%, 8% then each 6 months, the money in the account will be assessed 4% interest. This 2 is 4% semi-annual growth. Thus the growth factor is 1.04. (a) Fill in the table for how much money is in Eloisa's I-bond at each time after initial investment of $200, assuming the interest rate does not change. 1.5 years 2 years t years t amount 0 months 6 months $200 = 1 year (b) As a percent, how much larger is Eloisa's account after one year compared to her original investment? What was the percent change?
Transcribed Image Text:. For example, if Eloisa invests in an I-bond which compounds twice a year with APR 8%, 8% then each 6 months, the money in the account will be assessed 4% interest. This 2 is 4% semi-annual growth. Thus the growth factor is 1.04. (a) Fill in the table for how much money is in Eloisa's I-bond at each time after initial investment of $200, assuming the interest rate does not change. 1.5 years 2 years t years t amount 0 months 6 months $200 = 1 year (b) As a percent, how much larger is Eloisa's account after one year compared to her original investment? What was the percent change?
. Explain why APY is higher than APR in problem 2. Under what circumstances would APRAPY? An initial amount $P is invested at an APR r (in decimal form) and compounded n times per year. The amount in the account after t years since the initial investment is given by r nt the formula A(t) = P = P [(¹ + 7 )”]* = P (¹ + 7 ) ™². n
Transcribed Image Text:. Explain why APY is higher than APR in problem 2. Under what circumstances would APRAPY? An initial amount $P is invested at an APR r (in decimal form) and compounded n times per year. The amount in the account after t years since the initial investment is given by r nt the formula A(t) = P = P [(¹ + 7 )”]* = P (¹ + 7 ) ™². n
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