2000, an investment was opened with an initial deposit of $1800. The investment had grown to $2561.96 by 2009. If the interest on the investment is con nually, find a formula representing the value of the investment. Round all numbers in the formula to two decimal places. USE THE ROUNDED NUMBER EST OF THIS PAGE. ote that here, you need to find the formula for A(t). In order to do this, you know the initial amount of money, P. Then, plug in the values of t and A(t) that yo der to solve for the rate. (t) = 0 Use the formula to determine the value of the investment in the year 2015. If necessary, round to two decimal places. n 2015, the investment is worth $ Use the formula to determine when the investment is worth $5100. Report the number of years after 2000. If necessary, round to two decimal places.
2000, an investment was opened with an initial deposit of $1800. The investment had grown to $2561.96 by 2009. If the interest on the investment is con nually, find a formula representing the value of the investment. Round all numbers in the formula to two decimal places. USE THE ROUNDED NUMBER EST OF THIS PAGE. ote that here, you need to find the formula for A(t). In order to do this, you know the initial amount of money, P. Then, plug in the values of t and A(t) that yo der to solve for the rate. (t) = 0 Use the formula to determine the value of the investment in the year 2015. If necessary, round to two decimal places. n 2015, the investment is worth $ Use the formula to determine when the investment is worth $5100. Report the number of years after 2000. If necessary, round to two decimal places.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![In 2000, an investment was opened with an initial deposit of $1800. The investment had grown to $2561.96 by 2009. If the interest on the investment is compounded
annually, find a formula representing the value of the investment. Round all numbers in the formula to two decimal places. USE THE ROUNDED NUMBERS FOR THE
REST OF THIS PAGE.
Note that here, you need to find the formula for A(t). In order to do this, you know the initial amount of money, P. Then, plug in the values of t and A(t) that you know in
order to solve for the rate.
A(t) =
Use the formula to determine the value of the investment in the year 2015. If necessary, round to two decimal places.
In 2015, the investment is worth $
Use the formula to determine when the investment is worth $5100. Report the number of years after 2000. If necessary, round to two decimal places.
The investment is worth $5100 years after the year 2000.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6768b6d8-acbe-4097-9fc7-16a10a18d4a5%2Fc7b89da9-7f54-49b4-9795-9f1dde726531%2Fhjksehl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In 2000, an investment was opened with an initial deposit of $1800. The investment had grown to $2561.96 by 2009. If the interest on the investment is compounded
annually, find a formula representing the value of the investment. Round all numbers in the formula to two decimal places. USE THE ROUNDED NUMBERS FOR THE
REST OF THIS PAGE.
Note that here, you need to find the formula for A(t). In order to do this, you know the initial amount of money, P. Then, plug in the values of t and A(t) that you know in
order to solve for the rate.
A(t) =
Use the formula to determine the value of the investment in the year 2015. If necessary, round to two decimal places.
In 2015, the investment is worth $
Use the formula to determine when the investment is worth $5100. Report the number of years after 2000. If necessary, round to two decimal places.
The investment is worth $5100 years after the year 2000.
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