A bank features a savings account that has an annual percentage rate of r = 4.5% with interest compounded quarterly. Demetrius deposits $7,000 into the account. kt The account balance can be modeled by the exponential formula A(t) = a(1+ - , where A is k account value after t years , a is the principal (starting amount), r is the annual percentage rate, k is the number of times each year that the interest is compounded. (A) What values should be used for a, r, and k? a = k (B) How much money will Demetrius have in the account in 9 years?

Q: Suppose you deposit money in an investment account that pays 5% annual interest compounded…

A: r=5%=0.05 Let P be the invested money and let it be doubled in t years.

Q: Suppose that someone deposit $9000  in an account that earns 9.0% simple interest. Express the…

A:

Q: Find an equation for the balance t years after January 1, 2010 Find the balance at the beginning of…

A: Given, initial balance = Principal = p = 5000 time period = t years rate of interest = r =  5% per…

Q: An RRSP is an investment offered by many financial institutions. In a particular RRSP, which is…

A:

Q: In the formula A(1) = P(1 + )" for compound interest the letters P, r, n, and t stand for…

A:

Q: An investment compounded quarterly takes 5 years to double in value. How long will it take for the…

A: An investment compounded quarterly takes 5 years to double in value. How long will it take for the…

Q: You deposit sh. 250,000 in an account that pays 10% interest per annum, compounded continuously.…

A: Given, The amount deposited in an account = 250,000  The rate of interest = 10 % per annum…

Q: A young entrepreneur borrowed $4000 to start a small business. The interest rate on the loan was 8%…

A:

Q: If Hannah places $ 4500 into an account earning 4.5% interest compounded continuously, how much will…

A:

Q: A couple plans to save for their child's education. What principal must be deposited by the parents…

A: Given: Amount required is, A=$90,000. Number of years is, t=20. Rate of interest is, r=8.5%=0.085.…

Q: If Hannah places $ 4500 into an account earning 7.25% interest compounded continuously, how much…

A:

Q: You start to save for retirement. At the end of every year, you invest $3000 into an account that…

A:

Q: If real estate in a certain city appreciates at the yearly rate of 15% compounded continuously, when…

A: The question mentions that the value of the real estate in a certain city appreciates at a rate…

Q: "Find the amount that results from each investment;$1000 invested at 11% compounded continuously…

A: Compounding can be done several times a year for example compounded quarterly the amount is…

Q: An account earns an APR of 4.7% compounded as often as imaginable ("compounded continuously"). The…

A: The given rate is, r=4.7%=0.047 compounded continuously.For the continuous compound, the annual…

Q: Mary invests $3500 at 2.75% compounded continuously. How much money will be in the account after 6…

A: Given Principal amount p = $3500 Interest rate r = 2.75% = 0.0275 Time t = 6 years