Solve the following problem using either Table 11-1 pr Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to thenearest cent and percents to the nearest'hundredth of a percent)Simon invests $19,750, at 8% interest, compounded annually for 7 years. Calculate the compound amount for hls investment.O $11,060.00O $14,097.95O $30,810.00O $33,847.95 TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)Perlods1%1%2%3%4%5%6%7%8%Perlods1.005001.010001.015001.020001.030001.040001.050001.060001.070001.0800021.010031.020101.030231.040401.060901.081601.102501.123601.144901.166401.015081.030301.045681.061211.092731.124861.157631.191021.225041.2597134.1.020151.040601.061361.082431.125511.169861.215511.262481.310801.360494.1.025251.051011.077281.104081.159271.216651.276281.338231.402551.469335n6.1.030381.061521.093441.126161.194051.265321.340101.418521.500731.586879.7.1.035531.072141.109841.148691.229871.315931.407101.503631.605781.713828.1.040711.08286L.126491.171661.266771.368571.477461.593851.718191.850931.045911.093691.143391.195091.304771.423311.551331.689481.838461.99900101.051141.104621.160541218991.343921.480241.628891.790851.967152.15892101.243371.26824111.05640I.115671.177951.384231.710341.795861.539451.898302.104852.33164111.126831.138091.195621.21355121.061681.425761.601032.012202.252192.5181712131.066991.293611.468531.665071.885652.132932.409852.7196213141.072321.149471.231761.319481.512591.731681.979932.260902.578532.9371914151.077681.160971.250231.345871.557971.800942.078932.396562.759033.1721715161.083071.172581.268991.372791.604711.872982.182872.540352.952163.4259416171.088491.184301.288021.400241.428251.652851.947902.292022.692773.158823.7000217181.093931.196151.307341.702432.025822.406622.854343.379933.9960218191.099401.208111.326951.456811.753512.106852.526953.025603.616534.3157019201.104901.220191.346861.485951.806112.191122.653303.207143.869684.6609620211.110421.232391.367061.515673.399564.140565.03383211.860291.916102.278772.78596221.115971.244721.387561545982.369922.925263.603544.430405.4365422231.121551.257161.576901.608441.408381.973592.464723.071523.819754.740535.8714623241.127161.269732.032794.048935.072375.427431.429502.563303.225106.3411824251.132801.282431.450951.640612.093782.665843.386354.291876.8484825Periods9%10%11%12%13%14%15%16%17%18%PeriodsL180001.090001.188101.100001.110001.120001.130001.14000L.150001.160001.1700021.210001.232101.254401.276901.299601.322501.345601.368901.392401.295031.331001,481543.367631.518071.404931.442901.520881.560901.601611.643034.1.411581.464101573521.630471.688961.749011.81064L.873891.938784.1.538621.610511.685061.762341.842441.925412.011362.100342.192452.287765.1.677101.771561.870411.973822.081952.194972.313062.436402.565162.699556.1.828041.948722.076162.210682.352612.502272.660022.826223.001243. I85477.8.1.992562.143592.304542.475962.658442.852593.059023.278413.511453.758862.171892.357952.558042.773083.004043.251953.517883,802964.108404.43545102.367362.593742.839423.105853.394573.707224.045564.411444.806835.2338410112.580432.853123.151763.478553.835864.226234.65239-5.117265.623996.175934.334524.817905.49241122.812663.138433.498453.895985.350255.936036.580077.2875912133.065803.452273.883284.363494.898016.152796.885797.698688.59936134.887145.47357143.341733.797504.310445.534756.261357.075717.987529.00745 10.1472414153.642484.177254.784596.254277.137948.137069.2655210.5387211.97375154.594975.054476.130396.866045.310897.067338.137259.3576210.7480012.3303014.12902163.970314.3276316175.895097.986089.2764610.7612612.4676814.4264616.67225179.0242710.1974211.52309184.717125.559926.543557.6899710.5731712.3754514.4625116.8789519.6732518195.141666.115917.2633486127612.0556914.2317716.7765219.7483823.2144419205,604416.727508.062319.6462913.7434916.3665419.4607623.1056027.393032018.8215222.5744827.0335531.6292532.32378216.1088I6.65860217.400258.9491710.8038513.0210915.6675817.8610426.186408.140278.95430229.9335712.1003114.7138321.6447538.142062216.6266320.3615823.2122124.8914628.6251811.0262730.3762237.0062345.007632323247.257877.911O813.5523515.1786317.000069.8497312.2391618.7880935.2364243.2972953.109012425K.62810.8347113.5854621.2305426.4619232.9189540.8742450.6578362.6686325The values in Table 11-1 were generated by the formula FV (1-0 rounded to five decimal places, where i is the interestrate per period and is the total number of periodsMacBook Ail吕口F3D00O00F4F6F7F8F9F10F58.

Answered: Image /qna-images/answer/3f63b432-37b5-45a4-9251-327ba4292ecb.jpg

Solve the following problem using either Table 11-1 pr 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 nearesthündredth of a percent) Simon invests $19,750, at 8% interest, compounded annually for 7 years. Calculate the compound amount for his investment. O $11,060.00 O $14,097.95 O $30,810.00 O $33,847.95

Solve the following problem using either Table 11-1 pr 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 nearesthündredth of a percent) Simon invests $19,750, at 8% interest, compounded annually for 7 years. Calculate the compound amount for his investment. O $11,060.00 O $14,097.95 O $30,810.00 O $33,847.95

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

See similar textbooks

Related questions

Q: Kaye deposited $7.000 into a savings account today. For how long can $680 be withdrawn from the…

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

Q: A savings account earns interest with an APR of 2.65%, compounded quarterly. If $2,517 is saved in…

A: If you have any problem let me know in the comment section.

Q: If you invest $300 into a savings account that earns 8% annual interest compounded monthly, how much…

A: Here we find compounding.

Q: ). BAKERY Carlos Mora His furnily has agred to 2 years once he complet deposit today in an inves…

A: it is known that A=P1+r44n here A is the future value P is the present value r is the rate of…

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: The principal represents an amount of money deposited in a savings account subject to compound…

Q: The amount of money in the account after 3 years is $ (Round to the nearest cent as needed.) The…

A: To determine the future balance of an investment subject to compound interest, we applied the…

Q: A grandparent puts $5,000 into a college education fund for a grandchild. If the fund earns 3.75%…

A: Given that: Principal(P) is $5000. The rate of interest(r) is 3.75%. Time(t) is 16 years and n is…

Q: You deposit $2000 into a savings account with an APR of 5.5%. (a) Compute the amount of interest you…

A: First, we will calculate the amount of money at the end of 1 year.Then that money will be the…

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: An investment offers an interest rate of 4% compounded quarterly. Kamala invested an amount of $X in…

A: Given: invested amount(P)=$X, time(T)=6 years, interest rate(r)=4%(compounded quarterly), amount of…

Q: $3,000 is invested for 18 months compounded at the interest rate of 0.75% every month. Give your…

Q: 3. Maria borrows $12 000 at 9%/a interest compounded monthly for 10 years. How much money will she…

Q: The principal represents an amount of money deposited in a savings account subject to compound…

A: Given Data: The principle deposited amount is: P=$6000 The rate of interest is: r=8% The time period…

Q: You have the choice of receiving $80,000 now or $40,000 now and another $56,000 six years from now.…

A: I have explained everything with in the solution. Please go through that.

Q: A saving account that has 12000$ deposited earns 2.1% annual interest compound weekly. How much…

A: A saving account that has deposited earns annual interest compound weekly.The objcetive is to find…

Question

Solve the following problem using either Table 11-1 pr 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)
Simon invests $19,750, at 8% interest, compounded annually for 7 years. Calculate the compound amount for hls investment.
O $11,060.00
O $14,097.95
O $30,810.00
O $33,847.95

TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)
Perlods
1%
1%
2%
3%
4%
5%
6%
7%
8%
Perlods
1.00500
1.01000
1.01500
1.02000
1.03000
1.04000
1.05000
1.06000
1.07000
1.08000
2
1.01003
1.02010
1.03023
1.04040
1.06090
1.08160
1.10250
1.12360
1.14490
1.16640
1.01508
1.03030
1.04568
1.06121
1.09273
1.12486
1.15763
1.19102
1.22504
1.25971
3
4.
1.02015
1.04060
1.06136
1.08243
1.12551
1.16986
1.21551
1.26248
1.31080
1.36049
4.
1.02525
1.05101
1.07728
1.10408
1.15927
1.21665
1.27628
1.33823
1.40255
1.46933
5n
6.
1.03038
1.06152
1.09344
1.12616
1.19405
1.26532
1.34010
1.41852
1.50073
1.58687
9.
7.
1.03553
1.07214
1.10984
1.14869
1.22987
1.31593
1.40710
1.50363
1.60578
1.71382
8.
1.04071
1.08286
L.12649
1.17166
1.26677
1.36857
1.47746
1.59385
1.71819
1.85093
1.04591
1.09369
1.14339
1.19509
1.30477
1.42331
1.55133
1.68948
1.83846
1.99900
10
1.05114
1.10462
1.16054
121899
1.34392
1.48024
1.62889
1.79085
1.96715
2.15892
10
1.24337
1.26824
11
1.05640
I.11567
1.17795
1.38423
1.71034
1.79586
1.53945
1.89830
2.10485
2.33164
11
1.12683
1.13809
1.19562
1.21355
12
1.06168
1.42576
1.60103
2.01220
2.25219
2.51817
12
13
1.06699
1.29361
1.46853
1.66507
1.88565
2.13293
2.40985
2.71962
13
14
1.07232
1.14947
1.23176
1.31948
1.51259
1.73168
1.97993
2.26090
2.57853
2.93719
14
15
1.07768
1.16097
1.25023
1.34587
1.55797
1.80094
2.07893
2.39656
2.75903
3.17217
15
16
1.08307
1.17258
1.26899
1.37279
1.60471
1.87298
2.18287
2.54035
2.95216
3.42594
16
17
1.08849
1.18430
1.28802
1.40024
1.42825
1.65285
1.94790
2.29202
2.69277
3.15882
3.70002
17
18
1.09393
1.19615
1.30734
1.70243
2.02582
2.40662
2.85434
3.37993
3.99602
18
19
1.09940
1.20811
1.32695
1.45681
1.75351
2.10685
2.52695
3.02560
3.61653
4.31570
19
20
1.10490
1.22019
1.34686
1.48595
1.80611
2.19112
2.65330
3.20714
3.86968
4.66096
20
21
1.11042
1.23239
1.36706
1.51567
3.39956
4.14056
5.03383
21
1.86029
1.91610
2.27877
2.78596
22
1.11597
1.24472
1.38756
154598
2.36992
2.92526
3.60354
4.43040
5.43654
22
23
1.12155
1.25716
1.57690
1.60844
1.40838
1.97359
2.46472
3.07152
3.81975
4.74053
5.87146
23
24
1.12716
1.26973
2.03279
4.04893
5.07237
5.42743
1.42950
2.56330
3.22510
6.34118
24
25
1.13280
1.28243
1.45095
1.64061
2.09378
2.66584
3.38635
4.29187
6.84848
25
Periods
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
Periods
L18000
1.09000
1.18810
1.10000
1.11000
1.12000
1.13000
1.14000
L.15000
1.16000
1.17000
2
1.21000
1.23210
1.25440
1.27690
1.29960
1.32250
1.34560
1.36890
1.39240
1.29503
1.33100
1,48154
3.
36763
1.51807
1.40493
1.44290
1.52088
1.56090
1.60161
1.64303
4.
1.41158
1.46410
157352
1.63047
1.68896
1.74901
1.81064
L.87389
1.93878
4.
1.53862
1.61051
1.68506
1.76234
1.84244
1.92541
2.01136
2.10034
2.19245
2.28776
5.
1.67710
1.77156
1.87041
1.97382
2.08195
2.19497
2.31306
2.43640
2.56516
2.69955
6.
1.82804
1.94872
2.07616
2.21068
2.35261
2.50227
2.66002
2.82622
3.00124
3. I8547
7.
8.
1.99256
2.14359
2.30454
2.47596
2.65844
2.85259
3.05902
3.27841
3.51145
3.75886
2.17189
2.35795
2.55804
2.77308
3.00404
3.25195
3.51788
3,80296
4.10840
4.43545
10
2.36736
2.59374
2.83942
3.10585
3.39457
3.70722
4.04556
4.41144
4.80683
5.23384
10
11
2.58043
2.85312
3.15176
3.47855
3.83586
4.22623
4.65239
-5.11726
5.62399
6.17593
4.33452
4.81790
5.49241
12
2.81266
3.13843
3.49845
3.89598
5.35025
5.93603
6.58007
7.28759
12
13
3.06580
3.45227
3.88328
4.36349
4.89801
6.15279
6.88579
7.69868
8.59936
13
4.88714
5.47357
14
3.34173
3.79750
4.31044
5.53475
6.26135
7.07571
7.98752
9.00745 10.14724
14
15
3.64248
4.17725
4.78459
6.25427
7.13794
8.13706
9.26552
10.53872
11.97375
15
4.59497
5.05447
6.13039
6.86604
5.31089
7.06733
8.13725
9.35762
10.74800
12.33030
14.12902
16
3.97031
4.32763
16
17
5.89509
7.98608
9.27646
10.76126
12.46768
14.42646
16.67225
17
9.02427
10.19742
11.52309
18
4.71712
5.55992
6.54355
7.68997
10.57317
12.37545
14.46251
16.87895
19.67325
18
19
5.14166
6.11591
7.26334
861276
12.05569
14.23177
16.77652
19.74838
23.21444
19
20
5,60441
6.72750
8.06231
9.64629
13.74349
16.36654
19.46076
23.10560
27.39303
20
18.82152
22.57448
27.03355
31.62925
32.32378
21
6.1088I
6.65860
21
7.40025
8.94917
10.80385
13.02109
15.66758
17.86104
26.18640
8.14027
8.95430
22
9.93357
12.10031
14.71383
21.64475
38.14206
22
16.62663
20.36158
23.21221
24.89146
28.62518
11.02627
30.37622
37.00623
45.00763
23
23
24
7.25787
7.911O8
13.55235
15.17863
17.00006
9.84973
12.23916
18.78809
35.23642
43.29729
53.10901
24
25
K.628
10.83471
13.58546
21.23054
26.46192
32.91895
40.87424
50.65783
62.66863
25
The values in Table 11-1 were generated by the formula FV (1-0 rounded to five decimal places, where i is the interest
rate per period and is the total number of periods
MacBook Ail
吕口
F3
D00
O00
F4
F6
F7
F8
F9
F10
F5
8.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Factorization$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.

Similar questions

You deposited $5,000 in a bank t years ago. Your current account balance is $8,200, and the bank compounded interest monthly at an interest rate of 3.5%. How long ago did you deposit the money? That is, find t. Round your answer to the nearest tenth of a year.
How much would you need to deposit in an account now in order to have $6000 in the account in 15 years? Assume the account earns 5% interest compounded annually. Round your answer to the nearest cent.
You have the choice of receiving $80,000 now or $40,000 now and another $56,000 six years from now. In terms of today's dollar, which choice is better and by how much? Money is worth 6.3% compounded annually. K Which choice is better? OA. The choice of $80,000 now is better. OB. The choice of $40,000 now and $56,000 in six years is better. OC. They are equal in value. ew an example 80 F3 Get more help. 000 F4 F5 MacBook Air F6 F7 DII F8 DD F9 F10 Clear all F11 Final check F12
If $1,000 is invested in an account for 30 years. Find the value of the investment at the end of 30 years if the interest is: (a) 8% simple interest: $ (b) 8% compounded annually: $ Round your answers to the nearest cent. Question Help: Video Submit Question
Ap
If $5000 is invested at 5.95 percent APR compounded daily and no other de- posits are made, what will the value of the account be after seven years? A B $ 131,309.10 D $ 7,493.36 с $7,582.96 $320,873.46