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
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
Related questions
Question
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
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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