Explanation Given: The investment’s future value ( A ) is $ 4000 , the rate ( r ) is 8 % , and the time ( t ) is 6 months. Calculation: The amount of investmentis calculated by using future value formula. According to this formula, the future valueis calculated by adding 1 to the product of rate and time and then multiplying the whole result with the principal amount. Step 1: The rate is expressed as a decimal while calculating the interest. Thus, to convert the rate percent into a decimal, rate percent is divided by 100: r = 8 % = 8 100 = 0.08 Step 2: The time is to be expressed in terms of years. Thus, to convert the time into theyear, the months are divided by 12: t = 6 months 12 months = 1 2 = 0

MyLab Math with Pearson eText -- Access Card -- for Thinking Mathematically

7th Edition

ISBN: 9780134705095

Author: Robert F. Blitzer

Publisher: PEARSON

See similar textbooks

Concept explainers

Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

Videos

Question

Chapter 8.3, Problem 6CP

To determine

To calculate: The amount of investment, which is also called principal amount (P) when investment’s future value (A) is $4000, the rate (r) is 8%, and the time (t) is 6 months.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 8.3, Problem 5CP

Chapter 8.3, Problem 1CVC

Students have asked these similar questions

(b) In various places in this module, data on the silver content of coins minted in the reign of the twelfth-century Byzantine king Manuel I Comnenus have been considered. The full dataset is in the Minitab file coins.mwx. The dataset includes, among others, the values of the silver content of nine coins from the first coinage (variable Coin1) and seven from the fourth coinage (variable Coin4) which was produced a number of years later. (For the purposes of this question, you can ignore the variables Coin2 and Coin3.) In particular, in Activity 8 and Exercise 2 of Computer Book B, it was argued that the silver contents in both the first and the fourth coinages can be assumed to be normally distributed. The question of interest is whether there were differences in the silver content of coins minted early and late in Manuel’s reign. You are about to investigate this question using a two-sample t-interval. (i) Using Minitab, find either the sample standard deviations of the two variables…

5. (a) State the Residue Theorem. Your answer should include all the conditions required for the theorem to hold. (4 marks) (b) Let y be the square contour with vertices at -3, -3i, 3 and 3i, described in the anti-clockwise direction. Evaluate に dz. You must check all of the conditions of any results that you use. (5 marks) (c) Evaluate L You must check all of the conditions of any results that you use. ཙ x sin(Tx) x²+2x+5 da. (11 marks)

3. (a) Lety: [a, b] C be a contour. Let L(y) denote the length of y. Give a formula for L(y). (1 mark) (b) Let UCC be open. Let f: U→C be continuous. Let y: [a,b] → U be a contour. Suppose there exists a finite real number M such that |f(z)| < M for all z in the image of y. Prove that < ||, f(z)dz| ≤ ML(y). (3 marks) (c) State and prove Liouville's theorem. You may use Cauchy's integral formula without proof. (d) Let R0. Let w € C. Let (10 marks) U = { z Є C : | z − w| < R} . Let f UC be a holomorphic function such that 0 < |ƒ(w)| < |f(z)| for all z Є U. Show, using the local maximum modulus principle, that f is constant. (6 marks)

Chapter 8 Solutions

MyLab Math with Pearson eText -- Access Card -- for Thinking Mathematically

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.

The amount of investment, which is also called principal amount ( P ) when investment’s future value ( A ) is $ 4000 , the rate ( r ) is 8 % , and the time ( t ) is 6 months.

Solution Summary: The author explains how the amount of investment is calculated by using the future value formula.

Concept explainers

Videos

To calculate: The amount of investment, which is also called principal amount (P) when investment’s future value (A) is $4000, the rate (r) is 8%, and the time (t) is 6 months.

Want to see the full answer?

Chapter 8 Solutions