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A financial adviser recommends that a client deposit $2,500 into a fund that earns 8.5% annual interest compounded monthly. What is the interest rate per month? (Give an exact answer.) r = X Find an exponential growth model for A, the value (in dollars) of the account after t years. A = What will be the value (in dollars) of the investment after 7 years? Round to the nearest cent. $ X

A financial adviser recommends that a client deposit $2,500 into a fund that earns 8.5% annual interest compounded monthly. What is the interest rate per month? (Give an exact answer.) r = X Find an exponential growth model for A, the value (in dollars) of the account after t years. A = What will be the value (in dollars) of the investment after 7 years? Round to the nearest cent. $ X

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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please help with my advanced math question. Thank you!
A financial adviser recommends that a client deposit $2,500 into a fund that earns 8.5% annual interest compounded monthly. What is the interest rate per month? (Give an exact answer.) r= X Find an exponential growth model for A, the value (in dollars) of the account after t years. A = What will be the value (in dollars) of the investment after 7 years? Round to the nearest cent. $ x
Transcribed Image Text:A financial adviser recommends that a client deposit $2,500 into a fund that earns 8.5% annual interest compounded monthly. What is the interest rate per month? (Give an exact answer.) r= X Find an exponential growth model for A, the value (in dollars) of the account after t years. A = What will be the value (in dollars) of the investment after 7 years? Round to the nearest cent. $ x
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