CALCULUS:GRAPHICAL...,AP ED.-W/ACCESS
5th Edition
ISBN: 9780133314564
Author: Finney
Publisher: SAVVAS L
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- What interest rate would you need to get to double an investment of 200 in eight years?arrow_forwardRachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest, compounded monthly. If she opened her account when she was 19 years old, how much will she have by the time she is 55? How much of that amount will be interest earned?arrow_forwardAngela invested $15,000 in a savings account. If the interest rate is 4%, how much will be in the account in 10 years by each method of compounding? compound quarterly compound monthly compound continuouslyarrow_forward
- New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will pay interest per year which is compounded monthly. How much will be in the child's account at his twenty-first birthday?arrow_forwardAlyssa opened a retirement account with 7.25 APRin the year 2000. Her initial deposit was 13,500. How much will the account be worth in 2025 if interest compounds monthly? How much more wouldshe make if interest compounded continuously?arrow_forwardAlejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest, compounded monthly. How much money will he have saved after 5 years?arrow_forward
- Rachael deposits $3,600 into a retirement fund each year. The fund earns 7.5% annual interest, compounded monthly. If she opened her account when she was 20 years old, how much will she have by the time she’s 55? How much of that amount was interest earned?arrow_forwardJamal wants to save 54,000 for a down paymenton a home. How much will he need to invest in anaccount with 8.2 APR, compounding daily, in orderto reach his goal in 5 years?arrow_forwardDrew wants to save 2,500 to go to the nextWorld Cup. To the nearest dollar, how much willhe need to invest in an account now with 6.25 APR, compounding daily, in order to reach his goalin 4 years?arrow_forward
- On the day a grandchild is born, a grandparent deposits $2500 in a fund earning 7.5% interest, compounded continuously. Determine the balance in the account on the grandchild’s 25th birthday.arrow_forwardHsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed to invest in an account now with 7.5 APR,compounded daily, in order to reach her goal in 3 years?arrow_forwardArturo just got his first full-time job after graduating from college at age 27. He decided to invest $200 per month in an IRA (an annuity). The interest on the annuity is which is compounded monthly. How much will be in the Arturo's account when he retires at his sixty-seventh birthday?arrow_forward
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