Find the interest rate needed for an investment of $5500 to double in 5 years if interest is compounded continuously. (Round your answer to two decimal places.) %/yearFind the present value of $20,000 due in 7 years at the given rate of interest. (Use a 365-day year. Round your answer to the nearest cent.)6%/year compounded quarterly$ Use logarithms to solve the problem.How long will it take $14,000 to grow to $18,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to two decimal places.) yrFind the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.)P = $140,000, r = 7%, t = 7.25, compounded monthlyA = $ David owns $20,000 worth of 10-year bonds of Ace Corporation. These bonds pay interest every 6 months at the rate of 2%/year (simple interest). How much income will David receive from this investment every 6 months?$ How much interest will David receive over the life of the bonds?$Find the simple interest on a $1400 investment made for 5 years at an interest rate of 6%/year. What is the accumulated amount? (Round your answers to the nearest cent.)simple interest$ accumulated amount $ Find the effective rate corresponding to the given nominal rate. (Use a 365-day year.)4%/year compounded semiannually %/yearFind the effective rate of interest corresponding to a nominal rate of 3.8%/year compounded annually, semiannually, quarterly, and monthly. (Round your answers to two decimal places.)annually %semiannually %quarterly %monthly %Determine the simple interest rate at which $2400 will grow to $2571 in 9 months. (Round your answer to two decimal places.) %/yearHow many days will it take for $1900 to earn $12 interest if it is deposited in a bank paying simple interest at the rate of 4%/year? (Use a 365-day year. Round your answer up to the nearest full day.) daysHaving received a large inheritance, Jing-mei's parents wish to establish a trust for her college education. Nine years from now they need an estimated $150,000. How much should they set aside in trust now if they invest the money at 6.2%/year compounded quarterly? Continuously? (Round nearest cent.)quarterly$ continuously$ Find the accumulated amount after 5 years if $4000 is invested at 2%/year compounded continuously. (Round cent.)$ A bank deposit paying simple interest at the rate of 8%/year grew to $2000 in 10 months. Find the principal. (Round nearest cent.)$Use logarithms to solve the problem.How long will it take an investment of $3000 to triple if the investment earns interest at the rate of 3%/year compounded daily? (Round 2 decimal places.) yrA young man is the beneficiary of a trust fund established for him 16 years ago at his birth. If the original amount placed in trust was $50,000, how much will he receive if the money has earned interest at the rate of 9%/year compounded annually? Compounded quarterly? Compounded monthly? (Round cent.)compounded annually $ compounded quarterly $ compounded monthly $ Find the accumulated amount at the end of 10 months on a $1200 bank deposit paying simple interest at a rate of 9%/year. (Round nearest cent.)$ A bank deposit paying simple interest grew from an initial amount of $1000 to $1050 in 6 months. Find the interest rate. %/yearFind the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (365-day year. Round nearest cent.)P = $2500, r = 5%, t = 13.5, compounded semiannuallyA = $Seven and a half years ago, Chris invested $10,000 in a retirement fund that grew at the rate of 2.82%/year compounded quarterly. What is his account worth today? (Round nearest cent.)$ Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (365-day year. Round nearest cent.)P = $210,000, r = 2.5%, t = 3, compounded dailyA = $ Use logarithmsFind the interest rate needed for an investment of $5500 to double in 5 years if interest is compounded continuously. (Round 2 decimal places.) %/year Find the present value of $20,000 due in 7 years at the given rate of interest. (365-day year. Round to nearest cent.)6%/year compounded quarterly$ How long will it take $14,000 to grow to $18,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to two decimal places.) yrFind the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.)P = $140,000, r = 7%, t = 7.25, compounded monthlyA = $ A group of private investors purchased a condominium complex for $4 million. They made an initial down payment of 10% and obtained financing for the balance. If the loan is to be amortized over 12 years at an interest rate of 5.6%/year compounded quarterly, find the required quarterly payment. (Round your answer to the nearest cent.)$

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Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

Find the interest rate needed for an investment of $5500 to double in 5 years if interest is compounded continuously. (Round your answer to two decimal places.)
%/year
Find the present value of $20,000 due in 7 years at the given rate of interest. (Use a 365-day year. Round your answer to the nearest cent.)
6%/year compounded quarterly
$
Use logarithms to solve the problem.
How long will it take $14,000 to grow to $18,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to two decimal places.)
yr
Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.)

P = $140,000, r = 7%, t = 7.25,
compounded monthly

A = $
David owns $20,000 worth of 10-year bonds of Ace Corporation. These bonds pay interest every 6 months at the rate of 2%/year (simple interest). How much income will David receive from this investment every 6 months?
$

How much interest will David receive over the life of the bonds?$
Find the simple interest on a $1400 investment made for 5 years at an interest rate of 6%/year. What is the accumulated amount? (Round your answers to the nearest cent.)

simple interest $

accumulated amount $
Find the effective rate corresponding to the given nominal rate. (Use a 365-day year.)
4%/year compounded semiannually
%/year
Find the effective rate of interest corresponding to a nominal rate of 3.8%/year compounded annually, semiannually, quarterly, and monthly. (Round your answers to two decimal places.)

annually     %

semiannually     %

quarterly     %

monthly     %
Determine the simple interest rate at which $2400 will grow to $2571 in 9 months. (Round your answer to two decimal places.)
%/year
How many days will it take for $1900 to earn $12 interest if it is deposited in a bank paying simple interest at the rate of 4%/year? (Use a 365-day year. Round your answer up to the nearest full day.)

days
Having received a large inheritance, Jing-mei's parents wish to establish a trust for her college education. Nine years from now they need an estimated $150,000. How much should they set aside in trust now if they invest the money at 6.2%/year compounded quarterly? Continuously? (Round nearest cent.)

quarterly$ continuously$
Find the accumulated amount after 5 years if $4000 is invested at 2%/year compounded continuously. (Round cent.)
$
A bank deposit paying simple interest at the rate of 8%/year grew to $2000 in 10 months. Find the principal. (Round nearest cent.)

$
Use logarithms to solve the problem.
How long will it take an investment of $3000 to triple if the investment earns interest at the rate of 3%/year compounded daily? (Round 2 decimal places.) yr
A young man is the beneficiary of a trust fund established for him 16 years ago at his birth. If the original amount placed in trust was $50,000, how much will he receive if the money has earned interest at the rate of 9%/year compounded annually? Compounded quarterly? Compounded monthly? (Round cent.)

compounded annually     $

compounded quarterly     $

compounded monthly     $
Find the accumulated amount at the end of 10 months on a $1200 bank deposit paying simple interest at a rate of 9%/year. (Round nearest cent.)
$
A bank deposit paying simple interest grew from an initial amount of $1000 to $1050 in 6 months. Find the interest rate.

%/year
Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (365-day year. Round nearest cent.)

P = $2500, r = 5%, t = 13.5,
compounded semiannually

A = $
Seven and a half years ago, Chris invested $10,000 in a retirement fund that grew at the rate of 2.82%/year compounded quarterly. What is his account worth today? (Round nearest cent.)
$
Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (365-day year. Round nearest cent.)

P = $210,000,

r = 2.5%,

t = 3, compounded daily

A = $

Use logarithms
Find the interest rate needed for an investment of $5500 to double in 5 years if interest is compounded continuously. (Round 2 decimal places.)
%/year
Find the present value of $20,000 due in 7 years at the given rate of interest. (365-day year. Round to nearest cent.)
6%/year compounded quarterly
$
How long will it take $14,000 to grow to $18,000 if the investment earns interest at the rate of 4%/year compounded monthly? (Round your answer to two decimal places.)
yr
Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.)

P = $140,000, r = 7%, t = 7.25,
compounded monthly

A = $
A group of private investors purchased a condominium complex for $4 million. They made an initial down payment of 10% and obtained financing for the balance. If the loan is to be amortized over 12 years at an interest rate of 5.6%/year compounded quarterly, find the required quarterly payment. (Round your answer to the nearest cent.)
$

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compounded annually	$
compounded quarterly	$
compounded monthly	$