5. How long will it take an account paying 6% annual interest to double if it is compounded monthly?

Q: 5. $8000 is deposited at a bank account that pays 3% interest compounded monthly. How much will the…

A: Explanation of the answer is as follows

Q: How much money should be deposited today in an account that earns 5% compounded semiannually so that…

A: The formula to calculate amount to be deposited in the account is shown belowwhere A is the…

Q: 1. If you save $750 per month in a savings account that pays 1% interest, compounded monthly, how…

A:

Q: 6. How much more money would you have by investing $100,000 for 1 year into an account paying 4.2%…

A:

Q: 5. How long does it take for a $10,000 to double when it is invested at 8.85% yearly compounded…

A: Given that: Principal amount, P = $10000                   Rate of interest, r=8.85 % compounded…

Q: 8. How long will it take for the $3200 to double compounded monthly at 3.5%?

A:

Q: You are currently investing your money in a bank account which has a nominal annual rate of 7…

A:

Q: After 10.32 years, Mary's money became 2 % of its initial value. The money was compounded…

A: here we will use compound interest formula  If P is the amount invested  r is rate of interest per…

Q: In how many months will mony become three times itself at 9% compounded semi-annually.

A: In how many months will mony become three times itself at 9% compounded semi-annually.

Q: How long does it take to increase 40% of original principal at 4% compounded monthly?

A: Solving the problem by finding the time in years.

Q: Suppose $100 is withdrawn at the EOY 2026, emptying an account that earns 7% interest, compound…

A:

Q: 4. How much money should be invested in an account that earns 9.5% interest, compounded monthly, in…

A: We know the formula for Compound Interest ,  A = P1 + rnnt   ,  Where , A = Final amount…

Q: 27. How long will it take money to double if it invested at 6% compounded monthly? 9% compounded…

A: If P=initial investment, r = interest rate compounded monthly  and A= amount after t years , then we…

Q: 3. If a 7-year and 7-month investment earned 4 524 euros of interest at 4.95% compounded monthly,…

A:

Q: Mika's parents want to have enough saved to give her $15 000 a year - for 4 years of college. They…

A: Mika's parents want to give $15000 per year for 4 years of college. Therefore they want to give…

Q: How many years will it take for a sum of money to double itself at 7% compound monthly?

A:

Q: 2. How long will it take$5000 to grow to $20,000 if the investment earns interest at the rate of 6%…

A: Given data,  Initial amount (P) = $5000 Final amount (A) = $20000 Interest rate (r) = 6% = 0.06…

Q: invested at a bond growing at an average rate of 8.25% compounded monthly if its value at maturity…

A: Maturity value: The amount due and payable to the holder of a financial obligation as of the…

Q: You want to save enough to have $40,000 for a down payment on a house in 6 years. How much should…

A: Given: Future value = $40000 time = 6 years APR = 4% = 0.04 compounded weekly

Q: What will $82,000 grow to be in 11 years if it is invested today at 8% and the interest rate is…

A:

Q: 10. What interest will be earned if $6300 is invested for 3 years at 12% compounded monthly? TATI

A:

Q: If you put $3200 in a savings account that pays 1.6% a year compounded continuously, how much will…

A: Given: Principal amount = $3200 Interest rate = 1.6% = 0.016 time = 4 years

Q: 13. How long will an amount of P50,000 gain a simple interest of P10,000 at 4% per annum?

A: Principal : 50,000 Interest amount : 10,000 Rate = 4%=0.04

Q: For how long must a deposit of P10,000 be left at an account giving interest at an annual interest…

A: According to the given information, it is required to determine the time required to accumulate the…

Q: sandy hopkins was planning to buy a new car in 3 years she has mony today that she can invest for…

A: Determine the amount that should invested so that the worth is $8000 in 3 years if compounded…

Q: In how many years will the amount of 10000 triple if invested at an interest rate of 10% compounded…

A: We will find out the required time.

Q: What present value amounts to $20,000 if it is invested for 15 years at 6% compounded…

A: Compound interest: Formula :  A=P1+rnnt where ; A is the amount . P is the principal or invested…

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.