Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Marcus invests $9,000, at 7% interest, compounded annually for 16 years. Calculate the compound interest for his investment. $10,080.00 $17,569.44 $19,080.00 $26,569.44

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent)
Marcus invests $9,000, at 7% interest, compounded annually for 16 years. Calculate the compound interest for his investment.
 
$10,080.00
$17,569.44    
$19,080.00
$26,569.44
TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interes t)
Periods
1%
2%
3%
4%
5%
6%
7%
8%
Periods
1.00500
LOIS00
10000
LO000
1.04000
1.05000
106000
107000
101003
1.02010
LO023
10400
1.06090
1OS 160
1. 10250
L12360
11490
1.16640
101 S08
LO4568
106121
109273
1.12486
1.15763
L19102
12204
1.25971
4
1.02015
L0400
1.051 36
LO8243
L12551
1.16986
1.2155I
126248
131080
1.6049
4
102525
LOS 101
L07728
L104O8
L1927
121665
1.27628
133823
1.40255
1.46933
106 152
LO344
L12616
L19405
1.26532
1.34010
141852
150073
1.58687
1. 10984
1. 12649
L07214
114869
122987
131993
1.40710
1.50363
160578
1.7182
1.04071
L17166
1.26677
1.6R57
1.47746
159385
1.71819
104991
1.099
1.1439
119509
1.30477
142331
1.55 133
16948
183846
1.99900
10
1OS114
1. 10462
1. 16054
121899
134392
148024
1.62889
1.7908S
1.96715
2.15892
10
11
1.05640
LII67
L17795
124337
138423
1.53945
1.7104
189830
2.10485
2.33 164
11
160 103
166507
1.73 168
12
1.06 168
1.126K
1. 19562
1.26824
142576
1.7956
201220
2.25219
2.51817
12
13
1.06699
LIN9
1.21355
1.29361
146853
213293
2.40985
2.71962
13
14
1.07232
1.14947
1.23176
131948
15129
1.97993
226090
2.57853
2.93719
14
15
107768
1.1607
1.25023
134587
155797
1.80094
2.07893
239656
2.7503
3.17217
15
I87298
1.94790
16
1O807
1.17258
1.26899
137279
160471
2. 18287
2505
2.95216
3.42994
16
17
1OSS49
1.18A0
1.28802
140024
165285
2.29202
269277
3.15882
3.20002
17
18
109393
1. 19615
1734
142825
1.70243
2.02582
2.40662
285434
3.37993
3.99602
18
19
109940
1.20811
1.32695
145681
1.75351
2.10685
2.52695
302560
3.61653
4.31570
19
20
1.10490
1.22019
148595
180611
2.19112
2.6530
3.207 14
3.8668
4.66096
20
21
L11042
1.2129
1.36706
151567
186029
2.27877
2.78996
3.39956
4.14056
503383
21
1.387 56
1.408 38
22
LI1997
1.24472
154598
1916 10
2.36992
2.92526
360354
4.43040
543654
22
23
1.12155
1.25716
157690
197399
2.46472
3.07 152
3S1975
4.74053
587146
23
24
1.12716
1.26973
142950
1.60844
203279
2.56330
3.22510
404893
507237
6.34118
24
25
1.13280
1.28243
145095
16061
209378
2.66 584
429187
S42743
25
Periods
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
Periods
1. 10000
1. 15000
11220
1.09000
L1000
112000
LI000
1.14000
L16000
L12000
LI8000
2
LI8SIO
1.21000
1.22 10
125440
127690
1.29960
134560
136890
1.39240
2
1.29503
1.33 100
L.6763
140493
144290
148 154
1.5208
156090
160161
16403
4
141 158
1.46410
1.51807
157352
163047
16896
1.74901
181064
187389
1.93878
4
1.53862
1.61051
1.76234
184244
1.92541
2.01 I
210034
2.19245
2.28776
1.67710
1.77156
L7041
1973K2
208195
2.19497
2.31306
2460
2.56516
2.69955
6
18204
1.94872
2.076 16
221068
235261
2.50227
2.66002
282622
3.00124
3.18547
1.99256
2.14399
2.30454
247596
265844
285259
3.05902
3.27841
3.51145
3.75886
9.
2.17 189
2.35795
2.55804
277308
300404
3.25195
3.51 788
380296
4.10840
4.43545
10
2.6736
2.99374
2K942
3.39457
2 72םג3
4.04556
4.41144
523384
10
2.58043
2.81266
3.06 580
2.85312
3. 151 76
347855
383586
4.22623
4.6529
5.11726
5.6299
6.17593
11
12
3. 13843
3.49845
3.89598
433452
4.81790
5.35025
593603
6.5007
7.28759
12
13
345227
3.88328
436349
489801
5.49241
6. 15279
688579
7.69868
8.59936
13
14
3.34173
3.79750
4.31044
4887 11
553475
6.26135
7.07571
798752
9.00745
10.14724
14
15
3.64248
4.17725
4.78499
547357
625427
7.13794
8. 13706
926552
10.53872
11.97375
15
16
3.97031
4.97
5.31089
613039
7.06733
S.13725
9.35762
1074800
12330 14.12902
16
17
4.2763
5.05447
686604
7.98508
9.27646
10.7616
1246768
14.42646
16.67225
17
18
4.71712
5.55992
6.54355
768997
902427
10.57517
12.37545
1446251
16879S
19.6725
18
19
5.14 166
6.11991
7.26334
861276
1019742
12 05 569
14.23177
1677652
19.74838 23.21444
19
20
5.60441
6.72750
8.05231
964629
1152309
13.7449
16.36654
1946076
23.1060
27.39303
20
21
6.1088I
7.40025
899 17
13.02109
15 66758
I8 K2 1S2
2257448
27.0355 32.32.378
21
22
6.6560
S.14027
9.93357
12.1003I
1471383
17.5 104
21.64475
26.18540
31 62925 38.14206
22
23
7.25787
8.9540
11.02627
1355235
1662663
20.6158
24.89146
30.37622
37.00623 45.00763
23
24
7.91 108
9.84973
12.29 16
15.17863
18.78809
23 21221
28.62518
3523642 43.29729 53.10901
24
25
862308
13.58546
1700005
212054
26 46 192
32.91 S
4087424
50.65783 62. 66863
25
The values in Table 11-1 ware generated by the formula FV = (1 + ir ounded to five decimal places, where i is the interest
rate per period and n is the total number of periods.
Transcribed Image Text:TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interes t) Periods 1% 2% 3% 4% 5% 6% 7% 8% Periods 1.00500 LOIS00 10000 LO000 1.04000 1.05000 106000 107000 101003 1.02010 LO023 10400 1.06090 1OS 160 1. 10250 L12360 11490 1.16640 101 S08 LO4568 106121 109273 1.12486 1.15763 L19102 12204 1.25971 4 1.02015 L0400 1.051 36 LO8243 L12551 1.16986 1.2155I 126248 131080 1.6049 4 102525 LOS 101 L07728 L104O8 L1927 121665 1.27628 133823 1.40255 1.46933 106 152 LO344 L12616 L19405 1.26532 1.34010 141852 150073 1.58687 1. 10984 1. 12649 L07214 114869 122987 131993 1.40710 1.50363 160578 1.7182 1.04071 L17166 1.26677 1.6R57 1.47746 159385 1.71819 104991 1.099 1.1439 119509 1.30477 142331 1.55 133 16948 183846 1.99900 10 1OS114 1. 10462 1. 16054 121899 134392 148024 1.62889 1.7908S 1.96715 2.15892 10 11 1.05640 LII67 L17795 124337 138423 1.53945 1.7104 189830 2.10485 2.33 164 11 160 103 166507 1.73 168 12 1.06 168 1.126K 1. 19562 1.26824 142576 1.7956 201220 2.25219 2.51817 12 13 1.06699 LIN9 1.21355 1.29361 146853 213293 2.40985 2.71962 13 14 1.07232 1.14947 1.23176 131948 15129 1.97993 226090 2.57853 2.93719 14 15 107768 1.1607 1.25023 134587 155797 1.80094 2.07893 239656 2.7503 3.17217 15 I87298 1.94790 16 1O807 1.17258 1.26899 137279 160471 2. 18287 2505 2.95216 3.42994 16 17 1OSS49 1.18A0 1.28802 140024 165285 2.29202 269277 3.15882 3.20002 17 18 109393 1. 19615 1734 142825 1.70243 2.02582 2.40662 285434 3.37993 3.99602 18 19 109940 1.20811 1.32695 145681 1.75351 2.10685 2.52695 302560 3.61653 4.31570 19 20 1.10490 1.22019 148595 180611 2.19112 2.6530 3.207 14 3.8668 4.66096 20 21 L11042 1.2129 1.36706 151567 186029 2.27877 2.78996 3.39956 4.14056 503383 21 1.387 56 1.408 38 22 LI1997 1.24472 154598 1916 10 2.36992 2.92526 360354 4.43040 543654 22 23 1.12155 1.25716 157690 197399 2.46472 3.07 152 3S1975 4.74053 587146 23 24 1.12716 1.26973 142950 1.60844 203279 2.56330 3.22510 404893 507237 6.34118 24 25 1.13280 1.28243 145095 16061 209378 2.66 584 429187 S42743 25 Periods 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods 1. 10000 1. 15000 11220 1.09000 L1000 112000 LI000 1.14000 L16000 L12000 LI8000 2 LI8SIO 1.21000 1.22 10 125440 127690 1.29960 134560 136890 1.39240 2 1.29503 1.33 100 L.6763 140493 144290 148 154 1.5208 156090 160161 16403 4 141 158 1.46410 1.51807 157352 163047 16896 1.74901 181064 187389 1.93878 4 1.53862 1.61051 1.76234 184244 1.92541 2.01 I 210034 2.19245 2.28776 1.67710 1.77156 L7041 1973K2 208195 2.19497 2.31306 2460 2.56516 2.69955 6 18204 1.94872 2.076 16 221068 235261 2.50227 2.66002 282622 3.00124 3.18547 1.99256 2.14399 2.30454 247596 265844 285259 3.05902 3.27841 3.51145 3.75886 9. 2.17 189 2.35795 2.55804 277308 300404 3.25195 3.51 788 380296 4.10840 4.43545 10 2.6736 2.99374 2K942 3.39457 2 72םג3 4.04556 4.41144 523384 10 2.58043 2.81266 3.06 580 2.85312 3. 151 76 347855 383586 4.22623 4.6529 5.11726 5.6299 6.17593 11 12 3. 13843 3.49845 3.89598 433452 4.81790 5.35025 593603 6.5007 7.28759 12 13 345227 3.88328 436349 489801 5.49241 6. 15279 688579 7.69868 8.59936 13 14 3.34173 3.79750 4.31044 4887 11 553475 6.26135 7.07571 798752 9.00745 10.14724 14 15 3.64248 4.17725 4.78499 547357 625427 7.13794 8. 13706 926552 10.53872 11.97375 15 16 3.97031 4.97 5.31089 613039 7.06733 S.13725 9.35762 1074800 12330 14.12902 16 17 4.2763 5.05447 686604 7.98508 9.27646 10.7616 1246768 14.42646 16.67225 17 18 4.71712 5.55992 6.54355 768997 902427 10.57517 12.37545 1446251 16879S 19.6725 18 19 5.14 166 6.11991 7.26334 861276 1019742 12 05 569 14.23177 1677652 19.74838 23.21444 19 20 5.60441 6.72750 8.05231 964629 1152309 13.7449 16.36654 1946076 23.1060 27.39303 20 21 6.1088I 7.40025 899 17 13.02109 15 66758 I8 K2 1S2 2257448 27.0355 32.32.378 21 22 6.6560 S.14027 9.93357 12.1003I 1471383 17.5 104 21.64475 26.18540 31 62925 38.14206 22 23 7.25787 8.9540 11.02627 1355235 1662663 20.6158 24.89146 30.37622 37.00623 45.00763 23 24 7.91 108 9.84973 12.29 16 15.17863 18.78809 23 21221 28.62518 3523642 43.29729 53.10901 24 25 862308 13.58546 1700005 212054 26 46 192 32.91 S 4087424 50.65783 62. 66863 25 The values in Table 11-1 ware generated by the formula FV = (1 + ir ounded to five decimal places, where i is the interest rate per period and n is the total number of periods.
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