A APPENDIX Amount of $1.00 Invested-Daily, Monthly, and Quarterly Compounding Annual Interest Period-4 Years Interest Period-1 Year Rate Daily Monthly Quarterly Daily Monthly Quarterly 0.50% 0.75% 1.005012 1.005011 1.005009 1.020201 1.020197 1.020189 1.007528 1.007526 1.007521 1.030454 1.030445 1.030426 1.00% 1.010050 1.010046 1.010038 1.040810 1.040793 1.040759 1.25% 1.012578 1.012572 1.012559 1.051270 1.051244 1.051189 1.50% 1.015113 1.015104 1.015085 1.061835 1.061797 1.061717 1.75% 1.017654 1.017641 1.017615 1.072506 1.072453 1.072344 2.00% 1.020201 1.020184 1.020151 1.083285 1.083215 1.083071 2.25% 1.022754 1.022733 1.022691 1.094171 1.094082 1.093898 2.50% 1.025314 1.025288 1.025235 1.105167 1.105056 1.104827 2.75% 1.027881 1.027849 1.027785 1.116273 1.116138 1.115858 3.00% 1.030453 1.030416 1.030339 1.127491 1.127328 1.126992 3.25% 1.033032 1.032989 1.032898 1.138822 1.138628 1.138230 3.50% 1.035618 1.035567 1.035462 1.150266 1.150039 1.149574 .3.75% 1.038210 1.038151 1.038031 1.161825 1.161563 1.161023 4.00% 1.040808 1.040742 1.040604 1.173501 1.173199 1.172579 4.25% 1.043413 1.043338 1.043182 1.185293 1.184949 1.184242 4.50% 1.046025 1.045940 1.045765 1.197204 1.196814 1.196015 4.75% 1.048643 1.048548 1.048353 1.209235 1.208796 1.207897 5.00% 1.051267 1.051162 1.050945 1.221386 1.220895 1.219890 5.25% 1.053899 1.053782 1.053543 1.233659 1.233113 1.231994 5.50% 1.056536 1.056408 1.056145 1.246056 1.245451 1.244211 5.75% 1.059180 1.059040 1.058752 1.258577 1.257909 1.256541 6.00% 1.061831 1.061678 1.061364 1.271224 1.270489 1.268986 6.25% 1.064489 1.064322 1.063980 1.283998 1.283193 1.281546 6.50% 1.067153 1.066972 1.066602 1.296900 1.296020 1.294222 6.75% 1.069824 1.069628 1.069228 1.309932 1.308974 1.307017 7.00% 1.072501 1.072290 1.071859 1.323094 1.322054 1.319929 7.25% 1.075185 1.074958 1.074495 1.336389 1.335262 1.332962 7.50% 1.077876 1.077633 1.077136 1.349817 1.348599 1.346114 7.75% 1.080573 1.080313 1.079782 1.363380 1.362067 1.359389 8.00% 1.083278 1.083000 1.082432 1.377079 1.375666 1.372786 8.25% 1.085989 1.085692 1.085088 1.390916 1.389398 1.386306 8.50% 1.088706 1.088391 1.087748 1.404892 1.403265 1.399952 8.75% 1.091431 1.091096 1.090413 1.419008 1.417267 1.413723 9.00% 1.094162 1.093807 1.093083 1.433266 1.431405 1.427621 9.25% 1.096900 1.096524 1.095758 1.447667 1.445682 1.441648 9.50% 1.099645 1.099248 1.098438 1.462212 1.460098 1.455803 9.75% 1.102397 1.101977 1.101123 1.476904 1.474655 10.00% 1.470089 1.105156 1.104713 1.103813 1.491743 1.489354 10.25% 1.484506 1.107921 1.107455 1.106508 1.506731 10.50% 1.504196 1.110694 1.499055 1.110203 1.109207 1.521870 10.75% 1.519184 1.113473 1.112958 1.513738 1.111912 1.537160 11.00% 1.116260 1.534317 1.115719 1.528556 1.114621 11.25% 1.552604 1.119053 1.549598 1.118486 1.543509 1.117336 11.50% 1.568203 1.121853 1.565028 1.121259 1.558600 1.120055 11.75% 1.583959 1.124660 1.124039 1.580608 12.00% 1.122779 1.573829 1.127475 1.599873 1.126825 1.596341 12.25% 1.125509 1.589197 1.130296 1.615947 1.129617 1.612226 12.50% 1.128243 1.604706 1.133124 1.632182 1.132416 1.628266 12.75% 1.130982 1.620357 1.135960 1.648580 1.135221 1.644463 13.00% 1.133727 1.636151 1.138802 13.25% 1.138032 1.665143 1.660817 1.136476 1.652089 1.141652 1.140850 1.681872 1.677330 1.139230 1.668173 1.698769 1.694005 1.684403 5. Marybeth Evanston can invest $7,500 in a 1-year CD earning 5 percent interest compounded daily or a 1-year CD earning 5.25 percent interest compounded quarterly. Which rate earns her more interest? How much more? 6. Felix Capistrano invests $25,000 in a 4-year CD earning 6 percent interest compounded quarterly. What is the amount at maturity? How much interest does he earn at the end of the 4 years? 7. Standardized Test Practice Robert and Katie Masterson have the option of investing their $20,000 savings in a 4-year CD earning 5.00 percent interest compounded daily, 5.25 percent interest compounded monthly, or 5.50 percent interest compounded quarterly. Which CD earns the most interest? A. 5% compounded daily C. 5.5% compounded quarterly B. 5.25% compounded monthly D. They all earn the same amount of interest.
A APPENDIX Amount of $1.00 Invested-Daily, Monthly, and Quarterly Compounding Annual Interest Period-4 Years Interest Period-1 Year Rate Daily Monthly Quarterly Daily Monthly Quarterly 0.50% 0.75% 1.005012 1.005011 1.005009 1.020201 1.020197 1.020189 1.007528 1.007526 1.007521 1.030454 1.030445 1.030426 1.00% 1.010050 1.010046 1.010038 1.040810 1.040793 1.040759 1.25% 1.012578 1.012572 1.012559 1.051270 1.051244 1.051189 1.50% 1.015113 1.015104 1.015085 1.061835 1.061797 1.061717 1.75% 1.017654 1.017641 1.017615 1.072506 1.072453 1.072344 2.00% 1.020201 1.020184 1.020151 1.083285 1.083215 1.083071 2.25% 1.022754 1.022733 1.022691 1.094171 1.094082 1.093898 2.50% 1.025314 1.025288 1.025235 1.105167 1.105056 1.104827 2.75% 1.027881 1.027849 1.027785 1.116273 1.116138 1.115858 3.00% 1.030453 1.030416 1.030339 1.127491 1.127328 1.126992 3.25% 1.033032 1.032989 1.032898 1.138822 1.138628 1.138230 3.50% 1.035618 1.035567 1.035462 1.150266 1.150039 1.149574 .3.75% 1.038210 1.038151 1.038031 1.161825 1.161563 1.161023 4.00% 1.040808 1.040742 1.040604 1.173501 1.173199 1.172579 4.25% 1.043413 1.043338 1.043182 1.185293 1.184949 1.184242 4.50% 1.046025 1.045940 1.045765 1.197204 1.196814 1.196015 4.75% 1.048643 1.048548 1.048353 1.209235 1.208796 1.207897 5.00% 1.051267 1.051162 1.050945 1.221386 1.220895 1.219890 5.25% 1.053899 1.053782 1.053543 1.233659 1.233113 1.231994 5.50% 1.056536 1.056408 1.056145 1.246056 1.245451 1.244211 5.75% 1.059180 1.059040 1.058752 1.258577 1.257909 1.256541 6.00% 1.061831 1.061678 1.061364 1.271224 1.270489 1.268986 6.25% 1.064489 1.064322 1.063980 1.283998 1.283193 1.281546 6.50% 1.067153 1.066972 1.066602 1.296900 1.296020 1.294222 6.75% 1.069824 1.069628 1.069228 1.309932 1.308974 1.307017 7.00% 1.072501 1.072290 1.071859 1.323094 1.322054 1.319929 7.25% 1.075185 1.074958 1.074495 1.336389 1.335262 1.332962 7.50% 1.077876 1.077633 1.077136 1.349817 1.348599 1.346114 7.75% 1.080573 1.080313 1.079782 1.363380 1.362067 1.359389 8.00% 1.083278 1.083000 1.082432 1.377079 1.375666 1.372786 8.25% 1.085989 1.085692 1.085088 1.390916 1.389398 1.386306 8.50% 1.088706 1.088391 1.087748 1.404892 1.403265 1.399952 8.75% 1.091431 1.091096 1.090413 1.419008 1.417267 1.413723 9.00% 1.094162 1.093807 1.093083 1.433266 1.431405 1.427621 9.25% 1.096900 1.096524 1.095758 1.447667 1.445682 1.441648 9.50% 1.099645 1.099248 1.098438 1.462212 1.460098 1.455803 9.75% 1.102397 1.101977 1.101123 1.476904 1.474655 10.00% 1.470089 1.105156 1.104713 1.103813 1.491743 1.489354 10.25% 1.484506 1.107921 1.107455 1.106508 1.506731 10.50% 1.504196 1.110694 1.499055 1.110203 1.109207 1.521870 10.75% 1.519184 1.113473 1.112958 1.513738 1.111912 1.537160 11.00% 1.116260 1.534317 1.115719 1.528556 1.114621 11.25% 1.552604 1.119053 1.549598 1.118486 1.543509 1.117336 11.50% 1.568203 1.121853 1.565028 1.121259 1.558600 1.120055 11.75% 1.583959 1.124660 1.124039 1.580608 12.00% 1.122779 1.573829 1.127475 1.599873 1.126825 1.596341 12.25% 1.125509 1.589197 1.130296 1.615947 1.129617 1.612226 12.50% 1.128243 1.604706 1.133124 1.632182 1.132416 1.628266 12.75% 1.130982 1.620357 1.135960 1.648580 1.135221 1.644463 13.00% 1.133727 1.636151 1.138802 13.25% 1.138032 1.665143 1.660817 1.136476 1.652089 1.141652 1.140850 1.681872 1.677330 1.139230 1.668173 1.698769 1.694005 1.684403 5. Marybeth Evanston can invest $7,500 in a 1-year CD earning 5 percent interest compounded daily or a 1-year CD earning 5.25 percent interest compounded quarterly. Which rate earns her more interest? How much more? 6. Felix Capistrano invests $25,000 in a 4-year CD earning 6 percent interest compounded quarterly. What is the amount at maturity? How much interest does he earn at the end of the 4 years? 7. Standardized Test Practice Robert and Katie Masterson have the option of investing their $20,000 savings in a 4-year CD earning 5.00 percent interest compounded daily, 5.25 percent interest compounded monthly, or 5.50 percent interest compounded quarterly. Which CD earns the most interest? A. 5% compounded daily C. 5.5% compounded quarterly B. 5.25% compounded monthly D. They all earn the same amount of interest.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
Find the amount and the interest earned
Transcribed Image Text:A
APPENDIX
Amount of $1.00 Invested-Daily, Monthly, and Quarterly Compounding
Annual
Interest Period-4 Years
Interest Period-1 Year
Rate
Daily
Monthly
Quarterly
Daily
Monthly
Quarterly
0.50%
0.75%
1.005012
1.005011
1.005009
1.020201
1.020197
1.020189
1.007528
1.007526
1.007521
1.030454
1.030445
1.030426
1.00%
1.010050
1.010046
1.010038
1.040810
1.040793
1.040759
1.25%
1.012578
1.012572
1.012559
1.051270
1.051244
1.051189
1.50%
1.015113
1.015104
1.015085
1.061835
1.061797
1.061717
1.75%
1.017654
1.017641
1.017615
1.072506
1.072453
1.072344
2.00%
1.020201
1.020184
1.020151
1.083285
1.083215
1.083071
2.25%
1.022754
1.022733
1.022691
1.094171
1.094082
1.093898
2.50%
1.025314
1.025288
1.025235
1.105167
1.105056
1.104827
2.75%
1.027881
1.027849
1.027785
1.116273
1.116138
1.115858
3.00%
1.030453
1.030416
1.030339
1.127491
1.127328
1.126992
3.25%
1.033032
1.032989
1.032898
1.138822
1.138628
1.138230
3.50%
1.035618
1.035567
1.035462
1.150266
1.150039
1.149574
.3.75%
1.038210
1.038151
1.038031
1.161825
1.161563
1.161023
4.00%
1.040808
1.040742
1.040604
1.173501
1.173199
1.172579
4.25%
1.043413
1.043338
1.043182
1.185293
1.184949
1.184242
4.50%
1.046025
1.045940
1.045765
1.197204
1.196814
1.196015
4.75%
1.048643
1.048548
1.048353
1.209235
1.208796
1.207897
5.00%
1.051267
1.051162
1.050945
1.221386
1.220895
1.219890
5.25%
1.053899
1.053782
1.053543
1.233659
1.233113
1.231994
5.50%
1.056536
1.056408
1.056145
1.246056
1.245451
1.244211
5.75%
1.059180
1.059040
1.058752
1.258577
1.257909
1.256541
6.00%
1.061831
1.061678
1.061364
1.271224
1.270489
1.268986
6.25%
1.064489
1.064322
1.063980
1.283998
1.283193
1.281546
6.50%
1.067153
1.066972
1.066602
1.296900
1.296020
1.294222
6.75%
1.069824
1.069628
1.069228
1.309932
1.308974
1.307017
7.00%
1.072501
1.072290
1.071859
1.323094
1.322054
1.319929
7.25%
1.075185
1.074958
1.074495
1.336389
1.335262
1.332962
7.50%
1.077876
1.077633
1.077136
1.349817
1.348599
1.346114
7.75%
1.080573
1.080313
1.079782
1.363380
1.362067
1.359389
8.00%
1.083278
1.083000
1.082432
1.377079
1.375666
1.372786
8.25%
1.085989
1.085692
1.085088
1.390916
1.389398
1.386306
8.50%
1.088706
1.088391
1.087748
1.404892
1.403265
1.399952
8.75%
1.091431
1.091096
1.090413
1.419008
1.417267
1.413723
9.00%
1.094162
1.093807
1.093083
1.433266
1.431405
1.427621
9.25%
1.096900
1.096524
1.095758
1.447667
1.445682
1.441648
9.50%
1.099645
1.099248
1.098438
1.462212
1.460098
1.455803
9.75%
1.102397
1.101977
1.101123
1.476904
1.474655
10.00%
1.470089
1.105156
1.104713
1.103813
1.491743
1.489354
10.25%
1.484506
1.107921
1.107455
1.106508
1.506731
10.50%
1.504196
1.110694
1.499055
1.110203
1.109207
1.521870
10.75%
1.519184
1.113473
1.112958
1.513738
1.111912
1.537160
11.00%
1.116260
1.534317
1.115719
1.528556
1.114621
11.25%
1.552604
1.119053
1.549598
1.118486
1.543509
1.117336
11.50%
1.568203
1.121853
1.565028
1.121259
1.558600
1.120055
11.75%
1.583959
1.124660
1.124039
1.580608
12.00%
1.122779
1.573829
1.127475
1.599873
1.126825
1.596341
12.25%
1.125509
1.589197
1.130296
1.615947
1.129617
1.612226
12.50%
1.128243
1.604706
1.133124
1.632182
1.132416
1.628266
12.75%
1.130982
1.620357
1.135960
1.648580
1.135221
1.644463
13.00%
1.133727
1.636151
1.138802
13.25%
1.138032
1.665143
1.660817
1.136476
1.652089
1.141652
1.140850
1.681872
1.677330
1.139230
1.668173
1.698769
1.694005
1.684403
Transcribed Image Text:5. Marybeth Evanston can invest $7,500 in a 1-year CD earning 5 percent interest compounded
daily or a 1-year CD earning 5.25 percent interest compounded quarterly. Which rate earns
her more interest? How much more?
6. Felix Capistrano invests $25,000 in a 4-year CD earning 6 percent interest compounded
quarterly. What is the amount at maturity? How much interest does he earn at the end of
the 4 years?
7. Standardized Test Practice Robert and Katie Masterson have the option of investing their
$20,000 savings in a 4-year CD earning 5.00 percent interest compounded daily, 5.25 percent
interest compounded monthly, or 5.50 percent interest compounded quarterly. Which CD
earns the most interest?
A. 5% compounded daily
C. 5.5% compounded quarterly
B. 5.25% compounded monthly
D. They all earn the same amount of interest.
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 now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
