If you invested $800 o at 4.5% nterestCrompounded ceitinueusly foemuch would you have made?years, how

Answered: If you invested $800 o at 4.5% interest…

Math

Geometry

If you invested $800 o at 4.5% interest Crompounded ceritinuously foe have made ? 10 much weuld years, how you

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

ChapterP: Preliminary Concepts

SectionP.CT: Test

Problem 1CT

See similar textbooks

Related questions

Q: How much mone, will tere be in a acconnt at the encl g 5 years if $4500 is deposited ot I-52…

Q: 1 18,000 for 2 years at 10% per annum compounded annually.

Q: How much money will be in an accound at the end of 8 years if $7000 is deposited at 5% interest…

Q: How many years will it take a 1,500$ loan to grow to 2,222.32 at 14% interest, compounded daily?

Q: 1. How much interest is earned when an amount of 100,000Php is invested with annual interest rate of…

A: Let P amount is invested for t years with simple interest r%. Then total interest earned in t years=…

Q: What was the initial amount deposited in the bank account? Round your answer to the nearest integer.…

Q: IFA3000 is investal al l0% compended undled continuesly,whatis the belonce after 9 years nine

Q: Engr. Armando lends P5,000 at 6% simple interest for 4 years. At the end of this time, he invests…

A: The following solution is given below :

Q: . Compound Interest If $20,000 is invested at 8%interest, compounded quarterly, find the…

Q: How much interest (in dollars) is earned in 7 years on $8,400 deposited in an account paying 8%…

Q: If $6000 is borrowed at 7.5% simple interest for 2 yr, _____ then the amount of interest is

A: The value of principal is P=$6000. The rate of interest is R=7.5%. The time is given by T=2 years.…

Q: 8. How much more does $1,000 earn in 8 years, compounded daily at 3%, than $1,000 over 8 years at…

Q: You borrow $5000 now and agree to pay this whole amount back in three payments: OW

A: Given, you borrow $5000 now and agree to pay this whole amount back in three payments:Payment 1. $X…

Q: . Investment If $8000 is invested in an account earning 4% interest compounded monthly, how much…

A: Given, PrincipalP=$8000Time(t)=7 yearsrater=4% compounded monthly

Q: How much money would you need to invest today at 6% interest compounded quarterly to have 5,387.43…

Q: How much money would be in an account if $ 700 $ 700 is deposited at 2.5 % 2.5 % interest compounded…

A: Given that, the deposited amount is P=$700, the rate is r=0.025, the interest is compounded weekly…

Q: How much will Blo00 deposited in an account earning 7% Onnually be worth. interest Compounded In 20…

Q: deposited $25000 today how much would i have in 15 years if back continuously compounds at 1.3%

Q: An investment of P2865 is made at the beginning of each month for 10 years and 8 months. How much…

Q: Find the future value of an annuity due of $2000 paid at the beginning of each 6-month period for 8…

A: The future value of the annuity is calculated using the formula: S=P1+in-1i1+i. Here, P is deposited…

Q: Suppose that $1,000 is deposited into an account that yields 0.85% interest, compounded annually.…

A: Given: P=$1000r=0.85%=0.0085n=1t=4 Use the formula: A=P1+rnnt

Question

If you invested $800 o at 4.5% nterest
Crompounded ceitinueusly foe
much would you have made?
years, how

Expert Solution

Step 1

Given:

initial value P = 8000

rate r = 4.5

time t =10 years.

So,

$F V = 8000 {(1 + 4.5 %)}^{10} = 8000 {(1 + \frac{9}{200})}^{10} = 8000 \cdot \frac{209^{10}}{200^{10}} = \frac{209^{10}}{2^{24} \cdot 5^{17}} \approx 12423.75537$

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Pls help ASAP.
Be correct!
Use the following information to answer question 18. Darlene received an inheritance of $15 000. She invested it in a GIC that carns 4.5% per year, compounded annually. She would like this investment to accumulate to $25 000, which she can put toward a down payment on a house. The table below shows Darlene's balance over the first 5 years. Time, / (years) 0 1 2 3 4 5 Amount, A (S) 15 000 15.675 16.380 17 117 17 888 18 693 18 Use a logarithmic regression equation to determine the time it takes, to the nearest tenth of a year, for the balance to equal $25 000. (Hint: LI-Amount; L2 = Time).
$1,000 invested at 7% compounded annually after a period of 11 years
A bank offers an annyal interest,rate of 2,957, compoynded confinuosly.How long 95% compounded co Wi mill it take o double in this bank? Rand yor answer to the nearest whole number
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.)