Sonia wants to have $13,000 in 8 years. Use Table 11-2 to calculate how much she should invest now (in $) at 6% interest, compounded semiannually in order to reach this goal. (Round your answer to the nearest cent.)
Sonia wants to have $13,000 in 8 years. Use Table 11-2 to calculate how much she should invest now (in $) at 6% interest, compounded semiannually in order to reach this goal. (Round your answer to the nearest cent.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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BRECMBC9 11.II.010.MI.
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Sonia wants to have $13,000 in 8 years. Use Table 11-2 to calculate how much she should invest now (in $) at 6% interest, compounded semiannually in order to
reach this goal. (Round your answer to the nearest cent.)
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BRECMBC9 11.II.015.MI.
MY NOTES
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PRACTICE ANOTHER
You wish to have $23,000 in 10 years. Use Table 11-2 to create a new table factor, and then find how much you should invest now (in $) at 6% interest, compounded
quarterly in order to have $23,000, 10 years from now. (Round your answer to the nearest cent.)
$
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DETAILS
BRECMBC9 11.II.010.MI.
MY NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
Sonia wants to have $13,000 in 8 years. Use Table 11-2 to calculate how much she should invest now (in $) at 6% interest, compounded semiannually in order to
reach this goal. (Round your answer to the nearest cent.)
Need Help?
Read It
Watch It
Master It
8. [-/1 Points]
DETAILS
BRECMBC9 11.II.015.MI.
MY NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
You wish to have $23,000 in 10 years. Use Table 11-2 to create a new table factor, and then find how much you should invest now (in $) at 6% interest, compounded
quarterly in order to have $23,000, 10 years from now. (Round your answer to the nearest cent.)
$
Need Help?
Master It
Read It
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![5. [-/1 Points]
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BRECMBC9 11.1.030.
MY NOTES
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PRACTICE ANOTHER
As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an account paying 9% compounded annually. How much will the
account be worth (in $) when Bob is 18 years old? (Use Table 11-1.)
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BRECMBC9 11.1.038.MI.
MY NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
You invest $13,000 at 6% interest, compounded monthly, for 2 years. Use the compound interest formula to calculate the compound amount (in $) for your
investment. (Round your answer to the nearest cent.)
$
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Transcribed Image Text:5. [-/1 Points]
DETAILS
BRECMBC9 11.1.030.
MY NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
As a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an account paying 9% compounded annually. How much will the
account be worth (in $) when Bob is 18 years old? (Use Table 11-1.)
Need Help?
Read It
6. [-/1 Points]
DETAILS
BRECMBC9 11.1.038.MI.
MY NOTES
ASK YOUR TEACHER
PRACTICE ANOTHER
You invest $13,000 at 6% interest, compounded monthly, for 2 years. Use the compound interest formula to calculate the compound amount (in $) for your
investment. (Round your answer to the nearest cent.)
$
Need Help?
Read It
Watch It
Master It
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