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 16 5 annually $ $
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 16 5 annually $ $
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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Question
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 | 16 | 5 | annually | $ | $ |
Transcribed Image Text:TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest)
Periods
1%
2%
3%
4%
5%
6%
8%
Periods
1.00500
LO 1000
L01500
1.02000
1.03000
1.04000
1.05000
106000
1O7000
1.O8000
1.01003
102010
103023
104O0
1.06090
1O8 160
L10250
1.12360
1.14490
1. 166-40
2
101 S08
1.06 121
1O8 243
3
104568
1.09273
1.12486
L15763
L19102
1.22504
1.29971
3
121551
127628
1.02015
1O060
106136
1.12551
1.16986
1.26248
1.31080
1.36049
1.02525
105101
1077 28
1.10408
1.15927
121665
133823
1.40255
1.46933
1.50073
1.605 78
1.718 19
106152
109344
1.12616
1.19405
1.26532
134010
14 1852
1.586 87
1.03553
107214
1.10984
1.14869
1.22987
131993
1.40710
1.50363
1.71382
LO8286
L12649
1.17 166
1.26677
1.36857
147746
1.5938S
1.8S093
8.
1.04071
1.04991
109369
L14339
1.19509
1.30477
142331
1.55133
1.68948
1.99900
10
1.05 114
L10462
L16054
12199
1.3492
1.48024
1.62889
1.79085
1.967 I5
2. 15892
10
1.7 1034
2. 10485
2.252 19
11
105640
LI1567
L17795
1.24337
1.38423
1.53945
1898 30
2.33164
11
12
1.06 168
112683
L19562
1.26824
142576
1.60 103
1.79586
201220
2.518 17
12
121355
2.409 KS
2.57853
2.79903
13
1.06699
L13809
1.29361
146853
1.66507
L88565
2.13293
2.71962
13
151259
1.55797
14
1.07232
L1447
1231 76
131948
1.73 168
197993
226090
2.937 19
14
15
1.07768
L16097
125023
1.34 S87
1.80094
2.07893
2.39656
3.17217
15
16
1O8 307
1.17258
1.26899
1.37279
160471
187298
2.18287
2540 35
2.952 16
3.42594
16
17
1.O8849
LIS430
1.28802
1.40024
1.65285
1.94790
229202
2.69277
3. 158 82
3.70002
17
18
109393
L19615
1307 4
142825
1.20243
2.02582
240662
285434
3.37993
3.99602
18
19
1.09940
1.20811
132695
1.45681
1.75351
2.10685
252695
3.02560
3.61653
4.31570
19
20
1.1090
122019
1346 86
1.48998
1.80611
2.19112
265330
3.207 14
3. 86968
4.66096
20
4. 140 56
4.43040
21
L11042
1.23239
136706
151567
1.86029
2.27877
2.78596
3.399 56
5.03383
21
22
L.1197
1.24472
138756
1.54998
1.91610
2.36992
292526
3.60354
5.4654
22
1408 38
2.46472
5.87146
6.341 I8
6. 848 48
23
1.12155
1.25716
1.5760
1.97359
3.07152
3.81975
4.74053
23
24
1.12716
1.26973
142950
1.60844
2.03279
2.56330
322510
404893
5.07237
24
25
1.13280
1.28243
145095
1.64061
2.09378
2.66 584
3335
4.29187
5.42743
25
Periods
9%
11%
12%
13%
15%
17%
18%
Periods
10%
LI000
14%
16%
1.09000
LI 1000
1.12000
1.13000
1.14000
LIS000
L16000
1.17000
1. 18000
2
LI8SIO
12 1000
1232 10
1.25440
1.27690
1.29960
132250
134560
1.36890
1.39240
3.
1.29503
133100
1.36763
1.40493
1.44290
1.48 154
152088
1.56090
1.60161
1.64303
3.
L87389
2. 19245
141 158
1.46410
15 1807
1.57352
1.63047
1.68896
1.7401
18 1064
1.938 78
4
1.53862
1.6 105 I
1.68506
1.76234
184244
1.92541
201136
2.1004
2.287 76
1.97 82
2.21068
167710
1.77156
187041
2.08 195
2.19497
231306
24640
2.565 16
2.69955
6
3. I8S47
3.758 86
1.82804
194872
2076 16
2.35261
2.50227
266002
282622
3.001 24
1.99256
214359
2.30454
2.47596
2.65844
2.85 259
3.05902
3.27841
3.51145
8
2.17 189
2.77 308
3.10585
235795
255804
3.00-404
3.25 195
351788
3.80296
4. 10840
4.41545
10
2.36736
259374
283942
3.39457
3.70722
4.04556
4.41144
5.21384
10
2.58043
285312
3.15176
3.47855
3.83586
4.22623
4.65239
5.1 1726
5.62399
6.17593
11
11
12
2.81 266
3.1843
349845
3.89598
4.33452
4.81790
535025
593603
6.58007
7.28759
12
8.999 M
10. 14724
13
3.06 S80
3.45227
3883 28
4.69
4.89 801
5.49241
6.15279
6.88S79
7.69868
13
14
3.34173
3.79750
4.3 1044
4.88711
5.53475
6.26 135
7.07571
798752
9.00745
14
15
3.64248
4.17725
4.78459
547 157
6.25427
7.13794
8.13706
9.26552
10.53872
I1.97375
15
16
3.97031
4.5997
53 1089
6.13039
7.06733
8.13725
935762
10.74800
12.330 30
14. 12902
16
17
4.32763
505447
5.89509
6.86604
7.98608
9.27646
10.76126
1246768
14.426-46
16.67225
17
19.673 25
23.21444
18
4.71712
555992
6.54355
7.68997
9.02427
10.57517
1237545
1446251
16.87895
18
19.748 38
23. 1O560
19
5.14 166
6.1 1991
7.26334
8.61276
10.19742
12.05 569
1423177
16.77652
19
20
5.60441
6.72750
8.06231
9.64629
I1.5209
13.74349
1636654
1946076
27.39303
20
27.03355
32.323 78
38. 14206
21
6.10881
7.40025
894917
10.NO NRS
13.02 109
15.66758
1882152
2257448
21
22
6.65 860
8.14027
993357
12.10031
14.71 383
17.86 104
2164475
26.1 8640
31.62925
22
37.006 23 45.00763
43. 29729 53. 10901
23
7.25787
8.95430
11.02627
13.55215
16.62663
20.36 158 2489146
30.37622
23
12239 16
13.58S46
15.1786
23.21 221
26.46 192 3291895
24
7.91 108
9.84973
18.78S09
28.62518 3523642
24
25
8.62 O8
17.00006
21.23054
50.65783 62.6863
25
108471
4087424
The values in Table 11-1 were generated by the formula FV = (1 + iy 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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