Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.) Principal Time Period (years) Nominal Rate (%) Interest Compounded Compound Amount Compound Interest $24,000 12 5 annually $ $

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Using Table 11-1, calculate the compound amount and compound interest (in $) for the investment. (Round your answers to the nearest cent.)
Principal Time
Period (years)
Nominal
Rate (%)
Interest
Compounded
Compound
Amount
Compound
Interest
$24,000 12 5 annually $ $

 

TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)
Periods
1%
2%
3%
4%
5%
6%
7%
8%
Periods
1.00500
101000
1.01500
1.02000
1.03000
1.04000
1.0S000
1.06000
1.07000
1.08000
2
1.0 1003
102010
1.03023
1.04040
1.06090
1.08 160
1.10250
1.12360
1. 14490
1. 16640
2
3
1.01508
103030
1.04568
1.06121
1.09273
1.12486
1.15763
1.19102
1.22504
1.25971
3
1. 12551
1. 15927
1.02015
1.04060
1.06136
1.08243
1.16986
121551
1.26248
1.31080
1.36049
4
1.02525
1.05 101
1.077 28
1.10408
1.21665
1.27628
1.33823
1.40255
1.46933
1. 19405
1340 10
1.407 10
1.03038
1.06 152
109344
1.12616
1.26532
1.41852
1.50073
1.58687
1.03553
107214
1.10984
1.14869
1.22987
1.31593
1.50363
1.60578
1.71.382
1.0071
1.08286
1.12649
1.17166
1.26677
1.36857
1.47746
1.59385
1.71819
1.85093
104591
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
1.21899
1.34392
1.48024
1.62889
1.79085
1.96715
2.15892
10
11
1.05640
1.11567
1.17795
1.24337
1.38423
1.53945
1.7 1034
1.89830
2. 10485
2.33 164
11
12
1.06168
1.12683
1.19562
1.26824
1.42576
1.60103
1.79586
2.01220
2.25219
2.51817
12
13
1.06699
1.13809
1.21355
1.29361
1.46853
1.66507
1.88565
2.13293
2.40985
2.71962
13
14
1.07232
1.14947
1.23176
131948
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
254035
2.95216
3.42594
16
1.18430
1.28802
1.40024
1.65 285
1.94790
2.29202
2.69277
3. 15882
3. 70O02
17
1.08849
17
18
1.09393
1.19615
1.30734
1.42825
1. 70243
2.02582
2.40662
2.85434
3.37993
3.99602
18
19
1.09940
1.20811
1.32695
1.4568I
1.7535 I
2.10685
252695
3.02560
3.61653
4.31570
19
20
1.10490
1.22019
1.346 86
1.48595
1.80611
2.19112
2.65330
3.20714
3.86968
4.66096
20
1.1 1042
1.36706
1.38756
21
1.23239
151567
1.86029
2.27877
2.78596
3.39956
4. 14056
5.03 383
21
22
1.11597
1.24472
1.54598
1.91610
2.36992
292526
3.60354
4.43040
5.43654
22
23
1.12155
1.25716
1.40838
157690
1.97359
2.46472
3.07152
3.81975
4.74053
5.87 146
23
24
1.12716
1.26973
1.42950
1.60844
2.03279
2.56330
3.225 10
4.04893
5.07237
6.34118
24
25
1.13280
1.28243
1.45095
1.64061
2.09378
2.66584
3.38635
4.29187
5.42743
6.84848
25
Periods
9%
10%
11%
12%
13%
14%
15%
16%
17%
18%
Periods
1
1.12000
1. 17000
1. 13000
1.27690
1.09000
1.10000
1.11000
1.14000
1.15000
1.16000
1. 18000
1
2
1.18810
121000
1.232 10
1.25440
1.29960
1.32250
1.34560
1.36890
1.39240
2
1.29503
1.33 100
1.36763
1.40493
1.44290
1.48154
1.52088
1.56090
1.60 161
1.64303
3.
1.41158
146410
1.51807
157352
1.63047
1.68896
1.74901
1.81064
1.87 389
1.93878
5
1.53862
1.61051
1.68506
1.76234
1.84244
1.92541
2.01136
2.10034
2. 19245
2.28776
5
6.
1.67710
1.77 156
1.87041
1.97382
2.08 195
2.19497
2.31306
2.43640
2.56516
2.69955
1.82804
1.94872
2.176 16
2.21068
2.35 261
2.50227
2.66002
2.82622
3.00124
3. 18547
1.99256
2.14359
2.30454
2.47596
2.65844
2.85259
3.05902
3.27841
3.51 145
3.75 886
2.17189
2.35795
2.55804
2.77308
3.0004
3.25195
3.51788
3.80296
4. 10840
4.43545
10
2.36736
259374
2.83942
3.10585
3.9457
3.70722
4.045 56
4.41144
4.80683
5.23384
10
11
2.58043
2.85312
3.15176
3.47855
3.83586
4.22623
4.65239
5.11726
5.62.399
6. 17593
11
12
2.81266
3.13843
3.49845
3.89598
4.33452
4.81790
5.35025
5.93603
6.58007
7.28759
12
13
3.06580
345227
3.883 28
4.36349
4.89 801
5.49241
6.15279
6.88579
7.69 868
8.99936
13
14
3.34173
3.79750
4.31044
4.88711
5.53475
6.26135
7.07571
7.98752
9.00745
10. 14724
14
15
3.64248
4.17725
4.78459
5.47357
6.25427
7.13794
8.13706
9.26552
10.53872
11.97375
15
16
3.97031
4.59497
5.31089
6.13039
7.06733
8.13725
9.35762
10.74800
12.33030
14. 12902
16
17
4.32763
5.05447
5.89509
6.86604
7.98608
9.27646
10.761 26
12.46768
14.42646
16.67225
17
18
4.71712
5.55992
6.54355
7.68997
9.02427
10.57517
12.37545
14.46251
16.87895
19.67325
18
19
5.14166
6.11591
7.26334
8.61276
10. 19742
12.05569
14.23177
16.77652
19.74838
23.21444
19
20
5.60441
6.72750
8.06231
9.64629
11.52309
13.74349
16.36654
19.46076
23. 10560
27.39 303
20
21
6.10881
7.40025
8.94917
10.80385
13.02 109
15.66758
18.82152
22.57448
27.03355
32.32378
21
22
6.65860
8.14027
9.93357
12.10031
14.71383
17.86104
21.64475
26.18640
31.62925
38. 14206
22
23
7.25787
8.95430
11.02627
13.55235
16.62663
20.36158
24.89146
30.37622
37.00623
45.00763
23
24
791108
9.84973
12.239 16
15.17863
18.78809
23.21221
28.625 18
35.23642
43.29729 53. 10901
24
10.83471
13.58546
17.00006
21.23054
32.9 1895
40.87424
50.65 783
62.66 M3
25
8.62308
26.46192
25
The values in Table 11-1 were generated by the formula FV = (1+ i)" rounded 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 Interest) Periods 1% 2% 3% 4% 5% 6% 7% 8% Periods 1.00500 101000 1.01500 1.02000 1.03000 1.04000 1.0S000 1.06000 1.07000 1.08000 2 1.0 1003 102010 1.03023 1.04040 1.06090 1.08 160 1.10250 1.12360 1. 14490 1. 16640 2 3 1.01508 103030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 3 1. 12551 1. 15927 1.02015 1.04060 1.06136 1.08243 1.16986 121551 1.26248 1.31080 1.36049 4 1.02525 1.05 101 1.077 28 1.10408 1.21665 1.27628 1.33823 1.40255 1.46933 1. 19405 1340 10 1.407 10 1.03038 1.06 152 109344 1.12616 1.26532 1.41852 1.50073 1.58687 1.03553 107214 1.10984 1.14869 1.22987 1.31593 1.50363 1.60578 1.71.382 1.0071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 104591 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 1.21899 1.34392 1.48024 1.62889 1.79085 1.96715 2.15892 10 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.7 1034 1.89830 2. 10485 2.33 164 11 12 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2.51817 12 13 1.06699 1.13809 1.21355 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 13 14 1.07232 1.14947 1.23176 131948 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 254035 2.95216 3.42594 16 1.18430 1.28802 1.40024 1.65 285 1.94790 2.29202 2.69277 3. 15882 3. 70O02 17 1.08849 17 18 1.09393 1.19615 1.30734 1.42825 1. 70243 2.02582 2.40662 2.85434 3.37993 3.99602 18 19 1.09940 1.20811 1.32695 1.4568I 1.7535 I 2.10685 252695 3.02560 3.61653 4.31570 19 20 1.10490 1.22019 1.346 86 1.48595 1.80611 2.19112 2.65330 3.20714 3.86968 4.66096 20 1.1 1042 1.36706 1.38756 21 1.23239 151567 1.86029 2.27877 2.78596 3.39956 4. 14056 5.03 383 21 22 1.11597 1.24472 1.54598 1.91610 2.36992 292526 3.60354 4.43040 5.43654 22 23 1.12155 1.25716 1.40838 157690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87 146 23 24 1.12716 1.26973 1.42950 1.60844 2.03279 2.56330 3.225 10 4.04893 5.07237 6.34118 24 25 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 5.42743 6.84848 25 Periods 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods 1 1.12000 1. 17000 1. 13000 1.27690 1.09000 1.10000 1.11000 1.14000 1.15000 1.16000 1. 18000 1 2 1.18810 121000 1.232 10 1.25440 1.29960 1.32250 1.34560 1.36890 1.39240 2 1.29503 1.33 100 1.36763 1.40493 1.44290 1.48154 1.52088 1.56090 1.60 161 1.64303 3. 1.41158 146410 1.51807 157352 1.63047 1.68896 1.74901 1.81064 1.87 389 1.93878 5 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2. 19245 2.28776 5 6. 1.67710 1.77 156 1.87041 1.97382 2.08 195 2.19497 2.31306 2.43640 2.56516 2.69955 1.82804 1.94872 2.176 16 2.21068 2.35 261 2.50227 2.66002 2.82622 3.00124 3. 18547 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 3.27841 3.51 145 3.75 886 2.17189 2.35795 2.55804 2.77308 3.0004 3.25195 3.51788 3.80296 4. 10840 4.43545 10 2.36736 259374 2.83942 3.10585 3.9457 3.70722 4.045 56 4.41144 4.80683 5.23384 10 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 5.11726 5.62.399 6. 17593 11 12 2.81266 3.13843 3.49845 3.89598 4.33452 4.81790 5.35025 5.93603 6.58007 7.28759 12 13 3.06580 345227 3.883 28 4.36349 4.89 801 5.49241 6.15279 6.88579 7.69 868 8.99936 13 14 3.34173 3.79750 4.31044 4.88711 5.53475 6.26135 7.07571 7.98752 9.00745 10. 14724 14 15 3.64248 4.17725 4.78459 5.47357 6.25427 7.13794 8.13706 9.26552 10.53872 11.97375 15 16 3.97031 4.59497 5.31089 6.13039 7.06733 8.13725 9.35762 10.74800 12.33030 14. 12902 16 17 4.32763 5.05447 5.89509 6.86604 7.98608 9.27646 10.761 26 12.46768 14.42646 16.67225 17 18 4.71712 5.55992 6.54355 7.68997 9.02427 10.57517 12.37545 14.46251 16.87895 19.67325 18 19 5.14166 6.11591 7.26334 8.61276 10. 19742 12.05569 14.23177 16.77652 19.74838 23.21444 19 20 5.60441 6.72750 8.06231 9.64629 11.52309 13.74349 16.36654 19.46076 23. 10560 27.39 303 20 21 6.10881 7.40025 8.94917 10.80385 13.02 109 15.66758 18.82152 22.57448 27.03355 32.32378 21 22 6.65860 8.14027 9.93357 12.10031 14.71383 17.86104 21.64475 26.18640 31.62925 38. 14206 22 23 7.25787 8.95430 11.02627 13.55235 16.62663 20.36158 24.89146 30.37622 37.00623 45.00763 23 24 791108 9.84973 12.239 16 15.17863 18.78809 23.21221 28.625 18 35.23642 43.29729 53. 10901 24 10.83471 13.58546 17.00006 21.23054 32.9 1895 40.87424 50.65 783 62.66 M3 25 8.62308 26.46192 25 The values in Table 11-1 were generated by the formula FV = (1+ i)" rounded to five decimal places, where i is the interest rate per period and n is the total number of periods.
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