23 214-1/1TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)Perlods1%2%3%4%5%6%7%8%Perlods1.050001.060001.123601.005001.010001.015001.020001.030001.040001.07000LO800021.010031.020101.030231.04040L.060901.081601.102501.144901.1664031.015081.030301,045681.06121L.092731.124861.157631.191021.22504L.25971341.020151.040601.061361.082431.125511.169861.215511.262481.310801.3604941.025251.051011.077281.104081.159271.216651.276281.338231.40255L.469331.030381.035531.06152L.093441.126161.194051.265321.340101.418521.500731.586876.71.072141.109841.148691.229871.315931.407101.503631.605781.713821.040711.082861.126491.171661.266771.368571.477461.593851.718191.850931.838461.967156.1.045911.093691.143391.195091.304771.423311.551331.689481.999009101.051141.104621.160541218991.343921.480241.628891.790852.1589210111.056401.115671.177951.243371.384231.539451.710341.898302.104852.3316411121.061681.126831.195621.268241.425761.601031.795862.012202.252192 51817122.719621.066991.072321.213551.23176131.138091.293611.468531.665071.885652.132932.4098513141.149471.319481.512591.731681.979932.260902.578532.9371914151.077681.160971.250231.345871.557971.800942.078932.396562.759033.1721715161.083071.172581.268991.372791.604711.872982.182872.540352.952163.42594162.692773.70002171.652851.70243171.088491.184301.288021.400241.947902.292023.15882181.09393L.196151.307341.428252.025822.406622.854343.379933.9960218191.099401.208111.326951.456811.753512.106852.526953.025603.616534.3157019201.104901.220191.346861.485951.806112.191122.653303.207143.869684.66096201.110421.115975.033835.43654211.232391.367061.515671.860292.278772.785963.399564.1405621221.244721.387561.545981.916102.369922.925263.603544.4304022231.121551.257161.408381.576901.973592.464723.071523.819754.740535.87146235.072376.341182.032792.093781.269734.04893241.608441.64061241.127161.429502.563303.22510251.132801.282431.450952.665843.386354.291875.427436.8484825Periods10%11%12%13%14%15%16%17%18%Periods1.140001.299601.100001.130001.150001.160001.17000L.18000L110001.232101.090001.120001.254401.276901.322501.345601.392401.368901.601611.188101.210003.1.295031.331001.367631.404931.442901.481541.520881.560901.64303311.464101.873892.1924541.411581.S18071.573521.630471.688961.749011.810641.938784.1.538621610511.685061.762341.842441.925412.011362.100342.287762.699553.185473.758864.435451.771562.081952.194972.313062.436402.565163.001243.511454.108401.677101.870411.973821.828041.948722.076162210682.352612.502272.660022.826222.658442.475962.773083.105852.852593.059023.278413.802964,411441.992562.143592.3045492.171892.357952.558043.004043.251953.517889102.367362.593742.839423.394573.707224.045564.806835.2338410S.623996.580077.69868112.580432.853123.151763.478553.835864.226234.652395.117266.175937.287595.350256.152793.895984.334524.817905.93603123.138433.452273.79750122.812663.498453.883284.363494.88711133.065804.898015.492416.885798.59936137.987529.0074510.1472410.53872 11973756.261357.07571144.310444.78459143.341735.53475153.642484.177255.473576.254277.137948.137069.26552156.130396.866047.067337.986089.3576210.7612610.7480012.1676814.1625116.7765212.3303014.42616 16.672258.137259.2764610.5751712.0556911.52309 13.7434914.12902165.310895.89509163.970314.59497174.327635.0544717184.717125.559926.543557.689979.0242712.3754516.8789519.673251819.748388612769.646296.1159123.21414197.263348.06231195.14166ID.1974214.23177205.604416.7275016.3665419.1607623.1056027.393032022.574482110.8038512.1003113.5523515.1786317.0000615.6675817.8610420.3615823.212226.1619218.8215221.6447521.8914628.6251832.9159527,0335531.6292532.323787.400258.140278.949179.9335713.0210914.7138316.62663IN.7880921.230546.108816.65860212226.1864038.142062237.0062345.0076343.29729 53. 109012311.0262712.2391613.5854630.3762235.2364240.87424237.257878.95430249.8497310.83471247.9110850.65783 62.6686325258.62308The values in Table 11-1 were generated by the formula FV= (-0 rounded to five decimal places, where i is the interestrate per period and a is the total number of periods. Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to thenearest cent and percents to the nearest hundredth of a percent)Anibal invests $4,250 at 6% interest, compounded quarterly for 1 year. Calculate the effective interest rate for his investment. (Round to nearest hundredth percent.)O 5.98%O 6.00%0 6.14%O 6.56%

Name: 23 214-1/1TABLE 11-1 Compound Interest Table (Future Value of $1 at C
Uploaded: 2024-03-05T11:52:21.000Z
Channel: Bartleby
Description: 23 214-1/1TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)Perlods1%2%3%4%5%6%7%8%Perlods1.050001.060001.123601.005001.010001.015001.020001.030001.040001.07000LO800021.010031.020101.030231.04040L.060901.081601.102501.14490

Consider the given information.

Answered: Anibal invests $4,250 at 6% loterest,…

Math

Advanced Math

Anibal invests $4,250 at 6% loterest, compounded quarterly for 1 year. Calculate the effective interest rate for his investment. (Round to nearest hundredth percent.) 5.98% 6.00% O 6.14% 06.56%

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: Jenna deposited $35,000 in an investment fund that was growing at a rate of 3.50% compounded…

Q: Skippy wants to have $15,000.00 in 8 years. His bank is offering an account that earns 2% compounded…

A: Future value, F=$15000 Time, t=8 years. Interest rate, i=2%=0.02 Compounded frequency, m=12

Q: Quarterly withdrawals of $850 for 7 years; interest rate is 4.9% compounded quarterly. Find the…

A: The formula is:A=P1+r4004Twhere P=principal amountr=rate of interestT=time

Q: Find the amount A accumulated after investing a principal P=$2,000 for t=4 years at an interest…

Q: A mutual fund has an average annual rate of return of 14.5 % . The investment company charges 3 %…

A: The formula for the compound interest is Pt=P0(1+r)t whereP0=initial value ($4000 i.e.…

Q: Calculate the effective interest rate of an account earning 5% interest compounded daily. Round to…

A: It is given that, an investment that earns the rate of return of 5% interest compounded daily. Note…

Q: alculate the no. of interest period ( n ) when the principal amount is P 1500.00 is invested at the…

A: Using simple interest formula

Q: Find the accumulated value of an investment of $20,000 at 5.25% compounded annually for 12 years.…

A: The term per cent means for every hundred. A fraction whose denominator is 100 is called a…

Q: (4 marks) A principal of $14 000 is invested at 3.75% p.a. compounded monthly for 5 years.…

A: Amount for compound interest can be calculated as P(1 +rn)nt P = Principal amount r = rate of…

Q: Find the face value of the zero-coupon bond. 20-year bond at 3.5% (compounded semiannually); price…

Q: Find the present value of the investment. (Round your answer to the nearest cent.) worth $13,000…

A: Given: Future value is $13000. Time is 2.5 years. Simple interest is 5.25% per annum. To find:…

Q: Thesumofthereciprocalsofthefirst11termsintheharmonicprogression…

A: The sum of the reciprocals of the first 11 terms in the harmonic progression series is 110.

Q: Find the apy for an account earning 4.3% compounded six times a year

Q: Find the effective rate of interest.For 5% compounded quarterly

A: Effective interest rate is the equivalent annual interest rate compounded annually which is…

Q: What amount should be deposited today to buy for a P 216,000.00 house and lot in 6 years? The bank…

A: We need to find the amount that should be deposited today to buy for a P 216,000.00 house and lot in…

Q: Consider an investment of $1,500 for four years at 3.75% simple interest. a. Find the amount of…

Q: 3. Determine the Present Value of an annuity which provides payment of $1200 every month for 6…

A: Concept: Future value: Amounts of money or streams of cash flows that are anticipated in the future…

Q: An investment of P2,850 is made at the beginning of each month for 6 years and 7 months. How much…

A: Given that investment of P=2850 per month for time T=6 years and 7 months= 79 months rate of…

Q: Determine how much is in the account on the basis of the indicated compounding after the specified…

A: Given, P=$5400, r=4%, compounded annually for 1 year.

Q: Jason deposits $ 5000 into his savings account at the end of every 3 months for 4 years. For the…

A: Please see the attachment

Q: Ruth opens a savings account at 8% compounded semiannually and deposits $2,000 every 6 months for 10…

Q: The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's…

Q: Mrs. Reyes plans to build a a two - door apartment on her vacant lot. She applied for a loan of…

A: Given Principal amount = 1,750,000 php time = 4 years rate of interest= 10% number of times the…

Q: Find the future value and interest of $8000 at 3 1/2% compounded monthly for 10 years. A. Future…

A: Given present value(PV) is $8000. Interest is 312% annual rate compounded monthly. time n=10…

Q: Find the accumulated value of an investment of $15,000 at 7% compounded semiannually for 3 years.

Q: Amanda’s credit card APR is 19.77% compounded daily. What is her actual interest rate per year?…

A: the credit card compounds the interest in daily basis with a rate of interest as 19.77%

Concept explainers

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.

Topic Video

Question

23 214-
1/1
TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)
Perlods
1%
2%
3%
4%
5%
6%
7%
8%
Perlods
1.05000
1.06000
1.12360
1.00500
1.01000
1.01500
1.02000
1.03000
1.04000
1.07000
LO8000
2
1.01003
1.02010
1.03023
1.04040
L.06090
1.08160
1.10250
1.14490
1.16640
3
1.01508
1.03030
1,04568
1.06121
L.09273
1.12486
1.15763
1.19102
1.22504
L.25971
3
4
1.02015
1.04060
1.06136
1.08243
1.12551
1.16986
1.21551
1.26248
1.31080
1.36049
4
1.02525
1.05101
1.07728
1.10408
1.15927
1.21665
1.27628
1.33823
1.40255
L.46933
1.03038
1.03553
1.06152
L.09344
1.12616
1.19405
1.26532
1.34010
1.41852
1.50073
1.58687
6.
7
1.07214
1.10984
1.14869
1.22987
1.31593
1.40710
1.50363
1.60578
1.71382
1.04071
1.08286
1.12649
1.17166
1.26677
1.36857
1.47746
1.59385
1.71819
1.85093
1.83846
1.96715
6.
1.04591
1.09369
1.14339
1.19509
1.30477
1.42331
1.55133
1.68948
1.99900
9
10
1.05114
1.10462
1.16054
121899
1.34392
1.48024
1.62889
1.79085
2.15892
10
11
1.05640
1.11567
1.17795
1.24337
1.38423
1.53945
1.71034
1.89830
2.10485
2.33164
11
12
1.06168
1.12683
1.19562
1.26824
1.42576
1.60103
1.79586
2.01220
2.25219
2 51817
12
2.71962
1.06699
1.07232
1.21355
1.23176
13
1.13809
1.29361
1.46853
1.66507
1.88565
2.13293
2.40985
13
14
1.14947
1.31948
1.51259
1.73168
1.97993
2.26090
2.57853
2.93719
14
15
1.07768
1.16097
1.25023
1.34587
1.55797
1.80094
2.07893
2.39656
2.75903
3.17217
15
16
1.08307
1.17258
1.26899
1.37279
1.60471
1.87298
2.18287
2.54035
2.95216
3.42594
16
2.69277
3.70002
17
1.65285
1.70243
17
1.08849
1.18430
1.28802
1.40024
1.94790
2.29202
3.15882
18
1.09393
L.19615
1.30734
1.42825
2.02582
2.40662
2.85434
3.37993
3.99602
18
19
1.09940
1.20811
1.32695
1.45681
1.75351
2.10685
2.52695
3.02560
3.61653
4.31570
19
20
1.10490
1.22019
1.34686
1.48595
1.80611
2.19112
2.65330
3.20714
3.86968
4.66096
20
1.11042
1.11597
5.03383
5.43654
21
1.23239
1.36706
1.51567
1.86029
2.27877
2.78596
3.39956
4.14056
21
22
1.24472
1.38756
1.54598
1.91610
2.36992
2.92526
3.60354
4.43040
22
23
1.12155
1.25716
1.40838
1.57690
1.97359
2.46472
3.07152
3.81975
4.74053
5.87146
23
5.07237
6.34118
2.03279
2.09378
1.26973
4.04893
24
1.60844
1.64061
24
1.12716
1.42950
2.56330
3.22510
25
1.13280
1.28243
1.45095
2.66584
3.38635
4.29187
5.42743
6.84848
25
Periods
10%
11%
12%
13%
14%
15%
16%
17%
18%
Periods
1.14000
1.29960
1.10000
1.13000
1.15000
1.16000
1.17000
L.18000
L11000
1.23210
1.09000
1.12000
1.25440
1.27690
1.32250
1.34560
1.39240
1.36890
1.60161
1.18810
1.21000
3.
1.29503
1.33100
1.36763
1.40493
1.44290
1.48154
1.52088
1.56090
1.64303
3
1
1.46410
1.87389
2.19245
4
1.41158
1.S1807
1.57352
1.63047
1.68896
1.74901
1.81064
1.93878
4.
1.53862
161051
1.68506
1.76234
1.84244
1.92541
2.01136
2.10034
2.28776
2.69955
3.18547
3.75886
4.43545
1.77156
2.08195
2.19497
2.31306
2.43640
2.56516
3.00124
3.51145
4.10840
1.67710
1.87041
1.97382
1.82804
1.94872
2.07616
221068
2.35261
2.50227
2.66002
2.82622
2.65844
2.47596
2.77308
3.10585
2.85259
3.05902
3.27841
3.80296
4,41144
1.99256
2.14359
2.30454
9
2.17189
2.35795
2.55804
3.00404
3.25195
3.51788
9
10
2.36736
2.59374
2.83942
3.39457
3.70722
4.04556
4.80683
5.23384
10
S.62399
6.58007
7.69868
11
2.58043
2.85312
3.15176
3.47855
3.83586
4.22623
4.65239
5.11726
6.17593
7.28759
5.35025
6.15279
3.89598
4.33452
4.81790
5.93603
12
3.13843
3.45227
3.79750
12
2.81266
3.49845
3.88328
4.36349
4.88711
13
3.06580
4.89801
5.49241
6.88579
8.59936
13
7.98752
9.00745
10.14724
10.53872 1197375
6.26135
7.07571
14
4.31044
4.78459
14
3.34173
5.53475
15
3.64248
4.17725
5.47357
6.25427
7.13794
8.13706
9.26552
15
6.13039
6.86604
7.06733
7.98608
9.35762
10.76126
10.74800
12.16768
14.16251
16.77652
12.33030
14.42616 16.67225
8.13725
9.27646
10.57517
12.05569
11.52309 13.74349
14.12902
16
5.31089
5.89509
16
3.97031
4.59497
17
4.32763
5.05447
17
18
4.71712
5.55992
6.54355
7.68997
9.02427
12.37545
16.87895
19.67325
18
19.74838
861276
9.64629
6.11591
23.21414
19
7.26334
8.06231
19
5.14166
ID.19742
14.23177
20
5.60441
6.72750
16.36654
19.16076
23.10560
27.39303
20
22.57448
21
10.80385
12.10031
13.55235
15.17863
17.00006
15.66758
17.86104
20.36158
23.2122
26.16192
18.82152
21.64475
21.89146
28.62518
32.91595
27,03355
31.62925
32.32378
7.40025
8.14027
8.94917
9.93357
13.02109
14.71383
16.62663
IN.78809
21.23054
6.10881
6.65860
21
22
26.18640
38.14206
22
37.00623
45.00763
43.29729 53. 10901
23
11.02627
12.23916
13.58546
30.37622
35.23642
40.87424
23
7.25787
8.95430
24
9.84973
10.83471
24
7.91108
50.65783 62.66863
25
25
8.62308
The values in Table 11-1 were generated by the formula FV= (-0 rounded to five decimal places, where i is the interest
rate per period and a is the total number of periods.

Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the
nearest cent and percents to the nearest hundredth of a percent)
Anibal invests $4,250 at 6% interest, compounded quarterly for 1 year. Calculate the effective interest rate for his investment. (Round to nearest hundredth percent.)
O 5.98%
O 6.00%
0 6.14%
O 6.56%

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!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Application of Algebra$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.