A person invested $530 in an account growing at a rate allowing the money to double every 8 years. Write a function showing the amount of money in the account after tt years, where the annual growth rate can be found from a constant in the function. Round all coefficients in the function to four decimal places. Also, determine the percentage of growth per year, to the nearest hundredth of a percent.

Q: Suppose a person invests a toal of $10,000 in two accounts. One account earns 8% annually and the…

A: Simple Interest is method of computing interest where compounding is not done. Compounding refers to…

Q: The function f(x) = 600 represents the rate of flow of money in dollars per year. Assume a 10-year…

A:

Q: Suppose that $1,000 is invested at 4% interest compounded continuously. Use the formula A = Pert.…

A: A = $1,250 P = $1,000 r = 4% = 0.04

Q: If an investment of $5,000 is made in an account returning 2% p.a. then how long will it take for…

A: Using excel NPER function

Q: What is the future value of an account if $8,000 is invested at a rate of 7% compounded monthly for…

A: Future Value = P * (1 + i/n)(n x t)Where: P = Initial Invested amount i = Annual interest rate n =…

Q: 4. If $2,000 is invested in an account that earns 8.5% interest compounded annually for 5 years,…

A: Interest refers to the cost of borrowing funds or money from other parties. Interest usually is of…

Q: Suppose you invest $18,860.00 into an account earning an interest rate of 2.426% compounded…

A: The worth of an asset today at some point in the future based on an estimated rate of growth is…

Q: Find the present value of a continuous stream of income over 4 years when the rate of income is…

A: The problem is asking us to find the present value of a continuous stream of income over 4 years.…

Q: Suppose we put $15000 into an account earning 3% interest compounded continuously. How long will it…

A: NPER stands for number of years or periods which is needed to clear or to pay off the loan amount at…

Q: You invested $250 at the end of every month for 10 years at 7.5% interest compounded monthly. Use…

A: An annuity is a series of equal periodic payments made or received over a specified period of time.…

Q: When interest is compounded continuously, the amount of money increases at a rate proportional to…

A: Here,Deposit Amount is $6,000Time Period is 3 yearsInterest Rate is 5.75%Compounding Period is…

Q: What annual rate of interest must the account earn in order to grow $11909 in 12 years?

A: The time value of money recognizes the idea that the value of an amount of money today differs from…

Q: Suppose you deposit $2606.00 into an account today. In 7.00 years the account is worth $3969. The…

A: Present Value = pv = $2606Time = t = 7 YearsFuture Value = fv = $3969

Q: If $525$⁢525 is invested at 14%14%, how much money will be in the account after 3030 months? Round…

A: An amount is the total payments received after a period of time for which it is borrowed.

Q: Suppose that $850,000 is invested in a savings account paying 5.25% interest per year. (Round…

A: the given information  amount = $850,000 interest rate = 5.25%

Q: Suppose that $1,000 is deposited into an account paying simple interest of 8% annually. At the end…

A: Principal Amount = p = $1000Interest Rate = r = 8%Time = t = 5 YearsExpected Future Value = $1400

Q: - 19.6% 16.2% 18.3% - 49.8% 43.7% 1.1% - 16.4% . What is the arithmetic average return over the…

A: Arithmetic average is simple average and can be obtained by adding and dividing by the total number.