Prealgebra (6th Edition)
6th Edition
ISBN: 9780134179018
Author: Jamie Blair, John Tobey Jr., Jeffrey Slater, Jenny Crawford
Publisher: PEARSON
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Chapter 7.1, Problem 23E
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In this problem, we consider a Brownian motion (W+) t≥0. We consider a stock model (St)t>0
given (under the measure P) by
d.St 0.03 St dt + 0.2 St dwt,
with So 2. We assume that the interest rate is r = 0.06. The purpose of this problem is to
price an option on this stock (which we name cubic put). This option is European-type, with
maturity 3 months (i.e. T = 0.25 years), and payoff given by
F = (8-5)+
(a) Write the Stochastic Differential Equation satisfied by (St) under the risk-neutral measure
Q. (You don't need to prove it, simply give the answer.)
(b) Give the price of a regular European put on (St) with maturity 3 months and strike K = 2.
(c) Let X =
S. Find the Stochastic Differential Equation satisfied by the process (Xt)
under the measure Q.
(d) Find an explicit expression for X₁ = S3 under measure Q.
(e) Using the results above, find the price of the cubic put option mentioned above.
(f) Is the price in (e) the same as in question (b)? (Explain why.)
3. Consider the polynomial equation 6-iz+7z² - iz³ +z = 0 for which the roots are 3i, -2i, -i,
and i.
(a) Verify the relations between this roots and the coefficients of the polynomial.
(b) Find the annulus region in which the roots lie.
The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c.
Question content area bottom
Part 1
a. Develop a simple linear regression model between billable hours and overhead costs.
Overhead
Costsequals=212495.2212495.2plus+left parenthesis 42.4857 right parenthesis42.485742.4857times×Billable
Hours
(Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.)
Part 2
b. Interpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm?
Interpret the fixed term,
b 0b0,
if appropriate. Choose the correct answer below.
A.
The value of
b 0b0
is the predicted billable hours for an overhead cost of 0 dollars.
B.
It is not appropriate to interpret
b 0b0,
because its value…
Chapter 7 Solutions
Prealgebra (6th Edition)
Ch. 7.1 - Fill in the blanks. To solve the equation y+8=17,...Ch. 7.1 - Fill in the blanks. To solve the equation a1=7, we...Ch. 7.1 - Fill in the blanks. To solve the equation x15=82,...Ch. 7.1 - Fill in the blanks. To solve the equation x+15=22,...Ch. 7.1 - Fill in the blanks. Before we solve the equation...Ch. 7.1 - Fill in the blanks. Before we solve the equation...Ch. 7.1 - Fill in each blank with the missing phrase. To...Ch. 7.1 - Fill in each blank with the missing phrase. To...Ch. 7.1 - Fill in each blank with the missing phrase. To...Ch. 7.1 - Fill in each blank with the missing phrase. To...
Ch. 7.1 - Fill in each blank with the missing phrase. We...Ch. 7.1 - Fill in each blank with the missing phrase. We...Ch. 7.1 - Solve and check your answer. a6=19Ch. 7.1 - Solve and check your answer. y4=11Ch. 7.1 - Solve and check your answer. a+9=1Ch. 7.1 - Solve and check your answer. x+13=1Ch. 7.1 - Solve and check your answer. 5=x+5Ch. 7.1 - Solve and check your answer. 7=y+6Ch. 7.1 - Solve and check your answer. 79=y4Ch. 7.1 - Solve and check your answer. 811=x4Ch. 7.1 - Solve and check your answer. 712=x6+32Ch. 7.1 - Solve and check your answer. 813=x2+32Ch. 7.1 - Solve and check your answer. 8+42=a+64Ch. 7.1 - Solve and check your answer. 5+32=a+57Ch. 7.1 - Solve and check your answer. 12x111x1=5Ch. 7.1 - Solve and check your answer. 8x+77x+2=3Ch. 7.1 - Solve and check your answer. 1216=4y+83yCh. 7.1 - Solve and check your answer. 89=3x42xCh. 7.1 - Solve and check your answer. 6x65x+1=2+4Ch. 7.1 - Solve and check your answer. 11x+1210x1=4+11Ch. 7.1 - Solve and check your solution. 16=x3Ch. 7.1 - Solve and check your solution. 3=x2Ch. 7.1 - Solve and check your solution. 14=y2Ch. 7.1 - Solve and check your solution. 4=a6Ch. 7.1 - Solve and check your solution. a4=6+9Ch. 7.1 - Solve and check your solution. y3=911Ch. 7.1 - Solve and check your solution. x4=8+6Ch. 7.1 - Solve and check your solution. x5=6+2Ch. 7.1 - Solve and check your solution. y2=4+22Ch. 7.1 - Solve and check your solution. x1=5+42Ch. 7.1 - Solve and check your solution. 3x5=9Ch. 7.1 - Solve and check your solution. 57x=15Ch. 7.1 - Solve and check your solution. 23a=18Ch. 7.1 - Solve and check your solution. 58a=15Ch. 7.1 - Solve and check your solution. 76y=42+5Ch. 7.1 - Solve and check your solution. 37y=524Ch. 7.1 - Solve and check your solution. 3(2x)=24Ch. 7.1 - Solve and check your solution. 4(6x)=48Ch. 7.1 - Solve and check your solution. 6=2(5x)Ch. 7.1 - Solve and check your solution. 2=6(4x)Ch. 7.1 - Solve and check your solution. 8x+4(4x)=48Ch. 7.1 - Solve and check your solution. 6x+3(3x)=45Ch. 7.1 - Solve and check your solution. 6(2x)3x=30Ch. 7.1 - Solve and check your solution. 5(5x)4x=29Ch. 7.1 - Solve and check your solution. 102=3(4x)+2xCh. 7.1 - Solve and check your solution. 63=2(3x)+3xCh. 7.1 - Solve and check your solution. 213=5x+3(4x)Ch. 7.1 - Solve and check your solution. 328=8x+2(2x)Ch. 7.1 - Solve and check your solution. x=9Ch. 7.1 - Solve and check your solution. x=16Ch. 7.1 - Solve and check your solution. x=4Ch. 7.1 - Solve and check your solution. x=6Ch. 7.1 - Solve. a. 2x=12 b. x2=12 c. x2=12 d. x+2=12Ch. 7.1 - Solve. a. 5y=20 b. y5=20 c. x5=20 d. x+5=20Ch. 7.1 - Solve. a. y10=9 b. y+10=9 c. y10=9 d. 10y=9Ch. 7.1 - Solve. a. x6=11 b. x+6=11 c. x6=11 d. 6x=11Ch. 7.1 - Solve. 15=a+5Ch. 7.1 - Solve. 2=y+7Ch. 7.1 - Solve. 5x+24x=4Ch. 7.1 - Solve. 7x+36x=4Ch. 7.1 - Solve. x7=2+32Ch. 7.1 - Prob. 72ECh. 7.1 - Prob. 73ECh. 7.1 - Prob. 74ECh. 7.1 - Prob. 75ECh. 7.1 - Prob. 76ECh. 7.1 - Prob. 77ECh. 7.1 - Prob. 78ECh. 7.1 - Prob. 79ECh. 7.1 - Prob. 80ECh. 7.1 - The sum of each row, each column, and each...Ch. 7.1 - Prob. 82ECh. 7.1 - Prob. 83ECh. 7.1 - Prob. 84ECh. 7.1 - Prob. 85ECh. 7.1 - Prob. 86ECh. 7.1 - Prob. 87ECh. 7.1 - Prob. 88ECh. 7.1 - Prob. 89ECh. 7.1 - Prob. 1QQCh. 7.1 - Prob. 2QQCh. 7.1 - Prob. 3QQCh. 7.1 - Prob. 4QQCh. 7.2 - Write in words the question asked by each...Ch. 7.2 - Write in words the question asked by each...Ch. 7.2 - Prob. 3ECh. 7.2 - Fill in the boxes in each step with the values...Ch. 7.2 - Prob. 5ECh. 7.2 - Fill in the boxes in each step with the values...Ch. 7.2 - Prob. 7ECh. 7.2 - Fill in the boxes in each step with the values...Ch. 7.2 - Prob. 9ECh. 7.2 - Solve and check your solution. 3y9=12Ch. 7.2 - Prob. 11ECh. 7.2 - Solve and check your solution. 7x10=18Ch. 7.2 - Prob. 13ECh. 7.2 - Solve and check your solution. 15=6y3Ch. 7.2 - Prob. 15ECh. 7.2 - Solve and check your solution. 3x2=12Ch. 7.2 - Prob. 17ECh. 7.2 - Solve and check your solution. 6w+7=67Ch. 7.2 - Prob. 19ECh. 7.2 - Solve and check your solution. 5y9=74Ch. 7.2 - Prob. 21ECh. 7.2 - Solve and check your solution. 36=4x8Ch. 7.2 - Solve and check your solution. 1=75yCh. 7.2 - Solve and check your solution. 2=94xCh. 7.2 - Prob. 25ECh. 7.2 - Solve and check your solution. 10=46xCh. 7.2 - Prob. 27ECh. 7.2 - Solve and check your solution. 3=92yCh. 7.2 - Prob. 29ECh. 7.2 - Simplify the left side of the equation by...Ch. 7.2 - Prob. 31ECh. 7.2 - Simplify the left side of the equation by...Ch. 7.2 - Prob. 33ECh. 7.2 - Simplify the left side of the equation by...Ch. 7.2 - Prob. 35ECh. 7.2 - Prob. 36ECh. 7.2 - Prob. 37ECh. 7.2 - Prob. 38ECh. 7.2 - Prob. 39ECh. 7.2 - Prob. 40ECh. 7.2 - Prob. 41ECh. 7.2 - Prob. 42ECh. 7.2 - Prob. 43ECh. 7.2 - Prob. 44ECh. 7.2 - Prob. 45ECh. 7.2 - Prob. 46ECh. 7.2 - Prob. 47ECh. 7.2 - Prob. 48ECh. 7.2 - Solve and check your solution. 2y+6=12Ch. 7.2 - Prob. 50ECh. 7.2 - Prob. 51ECh. 7.2 - Prob. 52ECh. 7.2 - Prob. 53ECh. 7.2 - Prob. 54ECh. 7.2 - Solve and check your solution. 13x=8x+20Ch. 7.2 - Prob. 56ECh. 7.2 - Prob. 57ECh. 7.2 - Prob. 58ECh. 7.2 - Prob. 59ECh. 7.2 - Prob. 60ECh. 7.2 - Prob. 61ECh. 7.2 - Prob. 62ECh. 7.2 - Prob. 63ECh. 7.2 - Prob. 64ECh. 7.2 - Prob. 1QQCh. 7.2 - Prob. 2QQCh. 7.2 - Prob. 3QQCh. 7.2 - Prob. 4QQCh. 7.3 - Prob. 1ECh. 7.3 - Prob. 2ECh. 7.3 - Prob. 3ECh. 7.3 - Prob. 4ECh. 7.3 - Prob. 5ECh. 7.3 - Prob. 6ECh. 7.3 - Prob. 7ECh. 7.3 - Prob. 8ECh. 7.3 - Prob. 9ECh. 7.3 - Prob. 10ECh. 7.3 - Prob. 11ECh. 7.3 - Prob. 12ECh. 7.3 - Solve and check your solution. 4(2x+1)=53xCh. 7.3 - Prob. 14ECh. 7.3 - Prob. 15ECh. 7.3 - Prob. 16ECh. 7.3 - Prob. 17ECh. 7.3 - Prob. 18ECh. 7.3 - Prob. 19ECh. 7.3 - Prob. 20ECh. 7.3 - Prob. 21ECh. 7.3 - Solve and check your solution. 4(x2)=2(x+6)+31Ch. 7.3 - Prob. 23ECh. 7.3 - Prob. 24ECh. 7.3 - Prob. 25ECh. 7.3 - Prob. 26ECh. 7.3 - Prob. 27ECh. 7.3 - Prob. 28ECh. 7.3 - Prob. 29ECh. 7.3 - Prob. 30ECh. 7.3 - Prob. 31ECh. 7.3 - Solve and check your solution. 3(5x+1)4x=16Ch. 7.3 - Prob. 33ECh. 7.3 - Prob. 34ECh. 7.3 - Prob. 35ECh. 7.3 - Prob. 36ECh. 7.3 - Solve and check your solution. (x2+3x1)(2x+1)=x25Ch. 7.3 - Prob. 38ECh. 7.3 - Is x=19 a solution to (2x+9)+(3x2)(5x+1)=2(x6)(x1)...Ch. 7.3 - Prob. 40ECh. 7.3 - Prob. 41ECh. 7.3 - Prob. 42ECh. 7.3 - Prob. 43ECh. 7.3 - Prob. 44ECh. 7.3 - Prob. 45ECh. 7.3 - Prob. 46ECh. 7.3 - Prob. 1QQCh. 7.3 - Prob. 2QQCh. 7.3 - Prob. 3QQCh. 7.3 - Prob. 4QQCh. 7.4 - Fill in the blanks. To solve x3+x5=10 we multiply...Ch. 7.4 - Prob. 2ECh. 7.4 - Fill in each box with the correct number to...Ch. 7.4 - Prob. 4ECh. 7.4 - Solve and check your solution. x8+x4=3Ch. 7.4 - Prob. 6ECh. 7.4 - Solve and check your solution. x6+x4=5Ch. 7.4 - Prob. 8ECh. 7.4 - Solve and check your solution. x2x5=6Ch. 7.4 - Prob. 10ECh. 7.4 - Solve and check your solution. 3x+23=92Ch. 7.4 - Prob. 12ECh. 7.4 - Solve and check your solution. 5x+18=34Ch. 7.4 - Prob. 14ECh. 7.4 - Solve and check your solution. 5x12=18Ch. 7.4 - Prob. 16ECh. 7.4 - Solve and check your solution. 2x+12=37Ch. 7.4 - Prob. 18ECh. 7.4 - Solve and check your solution. 4x+23=16Ch. 7.4 - Prob. 20ECh. 7.4 - Solve and check your solution. x3+x=8Ch. 7.4 - Prob. 22ECh. 7.4 - Solve and check your solution. x3+x=6Ch. 7.4 - Prob. 24ECh. 7.4 - Solve and check your solution. x2+x=6Ch. 7.4 - Prob. 26ECh. 7.4 - Solve and check your solution. x42x=3Ch. 7.4 - Prob. 28ECh. 7.4 - Prob. 29ECh. 7.4 - Prob. 30ECh. 7.4 - Prob. 31ECh. 7.4 - Prob. 32ECh. 7.4 - Prob. 33ECh. 7.4 - Prob. 34ECh. 7.4 - Prob. 35ECh. 7.4 - Solve and check your solution. 59+x6=23Ch. 7.4 - Prob. 37ECh. 7.4 - Prob. 38ECh. 7.4 - Prob. 39ECh. 7.4 - Prob. 40ECh. 7.4 - Prob. 41ECh. 7.4 - Prob. 42ECh. 7.4 - Prob. 43ECh. 7.4 - Prob. 44ECh. 7.4 - Prob. 45ECh. 7.4 - Prob. 46ECh. 7.4 - Prob. 47ECh. 7.4 - Translate using symbols. [1.3.2] Twelve less than...Ch. 7.4 - Prob. 49ECh. 7.4 - Prob. 50ECh. 7.4 - Prob. 51ECh. 7.4 - Prob. 52ECh. 7.4 - Prob. 1QQCh. 7.4 - Prob. 2QQCh. 7.4 - Prob. 3QQCh. 7.4 - Prob. 4QQCh. 7.5 - Prob. 1ECh. 7.5 - Prob. 2ECh. 7.5 - Prob. 3ECh. 7.5 - Prob. 4ECh. 7.5 - Prob. 5ECh. 7.5 - Prob. 6ECh. 7.5 - Prob. 7ECh. 7.5 - Prob. 8ECh. 7.5 - Prob. 9ECh. 7.5 - Prob. 10ECh. 7.5 - Prob. 11ECh. 7.5 - Prob. 12ECh. 7.5 - Prob. 13ECh. 7.5 - Prob. 14ECh. 7.5 - Prob. 15ECh. 7.5 - Prob. 16ECh. 7.5 - Salary Comparison Mark is a teaching assistant at...Ch. 7.5 - Prob. 18ECh. 7.5 - Prob. 19ECh. 7.5 - Prob. 20ECh. 7.5 - Prob. 21ECh. 7.5 - Prob. 22ECh. 7.5 - Prob. 23ECh. 7.5 - Geometry A triangle has a perimeter of 24 inches....Ch. 7.5 - Prob. 25ECh. 7.5 - Geometry The perimeter of a rectangle is 74 feet....Ch. 7.5 - Price of College Books Jacob bought 2 books for...Ch. 7.5 - Number of Skiers On Monday the total number of...Ch. 7.5 - Prob. 29ECh. 7.5 - Prob. 30ECh. 7.5 - Prob. 31ECh. 7.5 - Geometry A triangle with all sides of equal length...Ch. 7.5 - a. Find the missing numbers for sequence x, then...Ch. 7.5 - Prob. 34ECh. 7.5 - Prob. 35ECh. 7.5 - a. Find the missing numbers for sequence x, then...Ch. 7.5 - [5.6.1]Checker Board The dimensions of an opened...Ch. 7.5 - Use the following information for problems 13. The...Ch. 7.5 - Prob. 2QQCh. 7.5 - Use the following information for problems 13. The...Ch. 7.5 - Concept Check The high school marching band...Ch. 7 - Prob. 1RPCh. 7 - Prob. 2RPCh. 7 - Prob. 3RPCh. 7 - Prob. 4RPCh. 7 - Solve and check your solution. 5+22=x5Ch. 7 - Solve and check your solution. 67a=221Ch. 7 - Solve and check your solution. 3x+2(4x)=182Ch. 7 - Solve and check your solution. x=18Ch. 7 - Prob. 9RPCh. 7 - Solve and check your solution. 6x8=34Ch. 7 - Solve and check your solution. 2y+16=58Ch. 7 - Solve and check your solution. 20=87yCh. 7 - Prob. 13RPCh. 7 - Solve and check your solution. 14y=19Ch. 7 - Solve and check your solution. 8x75x=15Ch. 7 - Solve and check your solution. 6x=9x+36Ch. 7 - Solve and check your solution. 5x=2x+30Ch. 7 - Solve and check your solution. 3x85x=6Ch. 7 - Prob. 19RPCh. 7 - Prob. 20RPCh. 7 - Solve and check your solution. 8x95x+18=3x2+2xCh. 7 - Prob. 22RPCh. 7 - Prob. 23RPCh. 7 - Solve and check your solution. 4(2x+9)+5x=3Ch. 7 - Prob. 25RPCh. 7 - Prob. 26RPCh. 7 - Prob. 27RPCh. 7 - Solve and check your solution. (5x2+x2)(5x25)=6x+9Ch. 7 - Prob. 29RPCh. 7 - Solve and check your solution. x5x2=6Ch. 7 - Solve and check your solution. y+y5=12Ch. 7 - Prob. 32RPCh. 7 - Solve and check your solution. 2x34=13Ch. 7 - Prob. 34RPCh. 7 - Solve and check your solution. 13=3y+12Ch. 7 - Prob. 36RPCh. 7 - For exercises 36 and 37: Write an equation. Solve...Ch. 7 - Prob. 38RPCh. 7 - For each of the following problems: a. Define the...Ch. 7 - For each of the following problems: a. Define the...Ch. 7 - Prob. 1TCh. 7 - Prob. 2TCh. 7 - Prob. 3TCh. 7 - Prob. 4TCh. 7 - Prob. 5TCh. 7 - Prob. 6TCh. 7 - Prob. 7TCh. 7 - Prob. 8TCh. 7 - Solve and check. 3=74yCh. 7 - Solve and check. 6x+49x=15Ch. 7 - Solve and check. 14x=2x+16Ch. 7 - Solve and check. 2x+4(3x6)=4(6x+2)Ch. 7 - Solve and check. 3(2x+6)+3x=27Ch. 7 - Solve and check. 4(x1)=6(x+2)+48Ch. 7 - Solve and check. (3x22x+1)+(3x210)=5x+5Ch. 7 - Prob. 16TCh. 7 - Prob. 17TCh. 7 - Prob. 18TCh. 7 - Write the answers. Use the following information...Ch. 7 - Prob. 20TCh. 7 - Write the answers. Use the following information...Ch. 7 - Write the answers. Use the following information...Ch. 7 - Write the answers. Use the following information...Ch. 7 - Write the answers. Use the following information...
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- 3. Consider the polynomial equation 6-iz+7z2-iz³ +z = 0 for which the roots are 3i, -2i, -i, and i. (a) Verify the relations between this roots and the coefficients of the polynomial. (b) Find the annulus region in which the roots lie.arrow_forwardWrite the equation of the trigonometric function shown in the graph. LO 5 4 3 2 1 y -5 -5 4 8 8 500 -1 -2 -3 -4 -5 x 5 15л 5л 25л 15л 35π 5л 4 8 2 8 4 8arrow_forwardc) Using only Laplace transforms solve the following Samuelson model given below i.e., the second order difference equation (where yt is national income): - Yt+2 6yt+1+5y₁ = 0, if y₁ = 0 for t < 0, and y₁ = 0, y₁ = 1 1-e-s You may use without proof that L-1[s(1-re-s)] = f(t) = r² for n ≤tarrow_forward5. 156 m/WXY = 59° 63 E 7. B E 101 C mFE = 6. 68° 8. C 17arrow_forwardScoring: MATH 15 FILING /10 COMPARISON /10 RULER I 13 Express EMPLOYMENT PROFESSIONALS NAME: SKILLS EVALUATION TEST- Light Industrial MATH-Solve the following problems. (Feel free to use a calculator.) DATE: 1. If you were asked to load 225 boxes onto a truck, and the boxes are crated, with each crate containing nine boxes, how many crates would you need to load? 2. Imagine you live only one mile from work and you decide to walk. If you walk four miles per hour, how long will it take you to walk one mile? 3. Add 3 feet 6 inches + 8 feet 2 inches + 4 inches + 2 feet 5 inches. 4. In a grocery store, steak costs $3.85 per pound. If you buy a three-pound steak and pay for it with a $20 bill, how much change will you get? 5. Add 8 minutes 32 seconds + 37 minutes 18 seconds + 15 seconds. FILING - In the space provided, write the number of the file cabinet where the company should be filed. Example: File Cabinet #4 Elson Co. File Cabinets: 1. Aa-Bb 3. Cg-Dz 5. Ga-Hz 7. La-Md 9. Na-Oz 2. Bc-Cf…arrow_forwardpart 3 of the question is: A power outage occurs 6 min after the ride started. Passengers must wait for their cage to be manually cranked into the lowest position in order to exit the ride. Sine function model: where h is the height of the last passenger above the ground measured in feet and t is the time of operation of the ride in minutes. What is the height of the last passenger at the moment of the power outage? Verify your answer by evaluating the sine function model. Will the last passenger to board the ride need to wait in order to exit the ride? Explain.arrow_forwardIf you were asked to load 225 boxes onto a truck, and the boxes are crated, with each crate containing nine boxes, how many crates would you need to load?arrow_forwardForce with 800 N and 400 N are acting on a machine part at 30° and 60°, respectively with the positive x axisarrow_forward2. The duration of the ride is 15 min. (a) How many times does the last passenger who boarded the ride make a complete loop on the Ferris wheel? (b) What is the position of that passenger when the ride ends?arrow_forwardFind the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years. (Round your answer to the nearest cent.) P = $13,000, r = 6%, t = 10, compounded quarterly A = $ 31902 Need Help? Read It Watch It Viewing Saved Work Revert to Last Response SUBMIT ANSWER O/6.66 Points] DETAILS MY NOTES TANAPCALC10 5.3.003. EVIOUS ANSWERS ASK YOUR TEACHER PRACTICE ANOTHER Find the accumulated amount A, if the principal P is invested at an interest rate of r per year for t years. (Round your answer to the nearest cent.) P = $140,000, r = 8%, t = 8, compounded monthly A = $259130.20 X Need Help? Read It Watch Itarrow_forwardFind the present value of $20,000 due in 3 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 2%/year compounded monthly (b) 5%/year compounded daily $ Need Help? Read It Watch It SUBMIT ANSWER [-/6.66 Points] DETAILS MY NOTES TANAPCALC10 5.3.009. ASK YOUR TEACHER PRACTICE ANC Find the accumulated amount after 3 years if $4000 is invested at 3%/year compounded continuously. (Round your answer to the nearest cent.) Need Help? Read It Watch Itarrow_forwardFind the effective rate corresponding to the given nominal rate. (Round your answers to three decimal places.) (a) 9.5%/year compounded monthly % (b) 9.5%/year compounded daily % Need Help? Read It Watch It SUBMIT ANSWER -/6.66 Points] DETAILS MY NOTES TANAPCALC10 5.3.007. ASK YOUR TEACHE Find the present value of $90,000 due in 7 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 9%/year compounded semiannually (b) 9%/year compounded quarterly LAarrow_forwardarrow_back_iosSEE MORE QUESTIONSarrow_forward_ios
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