wiedge CheckQuestion 7MaryEsparHow long will it take for a $6000 investment to grow to $9534 at an annual rate of 8.6%, compounded semiannually? Assume that no withdrawals are made.Do not round any intermediate computations, and round your answer to the nearest hundredth.yearsI Don't KnowSubmitAccessibility02021 McGraw Hill LLC. AIl Rights Reserved. Terms of Use| Privacy Center

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Answered: How long will it take for a $6000…

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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Dustin deposits $800 at the end of every 3 months in an RRSP that is earning 5.10% compounded semi-annually. For the RRSP to accumulate to $33,000, calculate the following: a. How many deposits will she have to make? Round up to the next whole number b. How long will she have to make these deposits? years months Express the answer in years and months, rounded to the next payment period
2. Consider the function y(x) = 5x over the interval [0, 10]. (a) If the points A(0, y(0)), B(5, y(5)), and C(10, y(10)) are on the curve represented by the above function, find the slope of the lines (secants) AB, and AC, respectively. (b) If x represents time and y represents the displacement of a particle moving along a line, what is the physical meaning of your results to part (a)? (c) Now consider a point D(10 – h, y(10 – h)) on the curve represented by the given function, find the slope of the line DC. (d) As h → 0, what is the limiting value of your result to part (c)? (e) What is its physical meaning of your result to part (d) if again x represents time and y represents the displacement?
Find the final amount of money in an account if $8,400$8,400 is deposited at 6.5%6.5% interest compounded quarterly (every 3 months) and the money is left for 77 years.
Lisa has contributed $1.458 00 every month for the last 13 years into an RRSP fund. The interest eamed by these deposits was 7% compounded monthly for the first 3 years and 5% compounded monthly for the last 10 years. How much money is currently in the RRSP? The balance is $ (Round the final answer to the nearest cent as needed. Round intermediate values to four decimal places as needed.)

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How long will it take for a $6000 investment to grow to $9534 at an annual rate of 8.6%, compounded semiannually? Assume that no withdrawals are made. Do not round any intermediate computations, and round your answer to the nearest hundredth. years