On the day of a child’s birth, a deposit of $P is made in a trust fund that pays 8.75% interest, compounded continuously. Now we know that the balance in this account on the child’s 25th birthday is $222822.57. Determine the value of P.?

Q: You deposit $500.00 every month into an account earning 2% interest compounded monthly. How much…

A: solution of the given problem is below...

Q: Find the final amount of money in an account if $3,900$3,900 is deposited at 7%7% interest…

A:

Q: A stock is expected to pay $1.10 per share every year indefinitely and the equity cost of capital…

A: To find the price an investor is expected to pay per share ten years in the future, we can use the…

Q: encourage new members a bank offers a savings account of 2.4% interest mpounded monthly provided new…

A: We will determine the account value after 10 years.

Q: Which of the following is the balance for a single $2,484 deposit in an account with an APR of 1.88%…

A: Given initial amount $2,484. Interest rate r=1.88% time t=37 years.

Q: accumulate enough money for a down payment on a house, a couple deposits $597 per month into an…

A: We will find out the required value.

Q: A principal amount of $1,300 is placed in a savings account with an annual interest rate of 5.95%…

A: Given that, the principal amount of  is placed in a savings account with an annual interest rate of…

Q: Use the present value formula to determine the amount to be invested now, or the present value…

A: Given that, The desired accumulated amount =$85,000 compound semiannually interest rate=8% Number of…

Q: Appa deposits $1000 in an account earning 3.8% interest compounded monthly. How much will Appa have…

A:

Q: Calculate the amount of money you'll have at the end of the indicated time period, assuming that you…

A:

Q: For simple interest, present value can be calculated using: OP=A-I OP=A+I OP= Prt OP=I-A

A: A = final amount (future amount)P= initial amount (present amount)I = interest amount

Q: a.) What will an investment of 30 000 Euros at 5.6% p.a. interest compounded annually amount to…

A:

Q: A credit card charge 29% p.a interest compounded daily. Assuming that you borrow $3000 on the credit…

A:

Q: Calculate the amount of money you'll have at the end of the indicated time period, assuming that you…

A:

Q: A principal amount of $14,390 is placed in a savings account with an annual interest rate of 3.13%…

A: The compound interest formula is:Where,  is the principal, is the annual rate of interest,  is the…

Q: Find the interest rate for an $8000 deposit accumulating to $9714.83, compounded quarterly for 6…

A: