Previous ProblemProblem ListNext ProblemSuppose you invest $11,695.00 into an account earning an interest rate of2.767% compounded continuously for 1 year(s) and thereafter earning aninterest rate of 3.227% compounded weekly. How much money is in the accountafter 11 years?The amount in the account is $Preview My Answers Submit AnswersYou have attempted this problem 0 times

Step 1: Given Value for Calculation Present Value = pv = $11,695Compound for Year 1 =…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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MAA MATHEMATICAL ASSOCIATION OF AMERICA Simple and Compound Interest / 8 Previous Problem Problem List Next Problem HW 20 Simple and Compound Interest: Problem 8 (2 points) How much do you need to invest in an account earning an annual interest rate of 3.734% compounded weekly, so that your money will grow to $7,550.00 in 44 weeks? The amount you need to invest is (Note: Your answers should include a dollar sign and be accurate to two decimal places) Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining. Page generated at 05/04/2024 at 02:45pm EDT WeBWorK 1996-2022 | theme: math4-green | ww_version: 2.17 | pg.version 2.17 | The WaßWork Project
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