A bank features a savings account that has an annual percentage rate of r = 5.3% with interest compounded quarterly. Emily deposits $10,000 into the account. kt The account balance can be modeled by the exponential formula A(t) = a(1+) where A is 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 = r = k (B) How much money will Emily have in the account in 10 years? Answer = $ Round answer to the nearest penny. (C) What is the annual percentage yield (APY) for the savings account? (The APY is the actual or effective annual percentage rate which includes all compounding in the year). APY %, Round answer to 3 decimal places.

Q: JOUL CONC A production machine costs $40,000 and has a 7-year useful life. At the end of 7 years, it…

A:

Q: In compound interest, time is divided into interest periods. During each period, interest is earned…

A: Common difference (r) = second termfirst term

Q: 2.9% with interest A bank features a savings account that has an annual percentage rate of r…

A:

Q: A bank account earns 5% continuously compounding annual interest. After the initial deposit, no…

A:

Q: At the age of 32, to save for retirement, you decide to deposit $70 at the end of each month in an…

A: Formula Used-  A = P1 + rnnt - 1rn where A is the Future value P is the Deposit value at the end of…

Q: Using daily compounding, calculate the compound amount (in $) of a $7,000 investment for each of the…

A: Here we have to find out amount for different national banks.

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products. 

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.