2. For this exercise, include the formula you used and how you set up the calculation. For part c, algebraic solving processes are to be demonstrated. A student receives an award of $2000 and decides to invest that money for six years. To the nearest cent, how much money will be in the account at the end of the six years if the account earns: a. 4.2% compounded quarterly? b. 4.2% compounded continuously? c. At 4.2% interest compounded continuously, how long will it take the investment to grow to $5000? Round your answer to the nearest year.

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A: We can solve the problem by following steps.

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A: A=P1+rnnt P=8600 r=5%=0.05 t=5 years A=86001+0.05n5n

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A: Use formula to calculate

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A: COMPOUND INTEREST FORMULA

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A:

Q: 6. Suppose you want to have $12,450 in an account 16 years from now, and the APR is 2.3%. (a) If…

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A: Solution-

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Q: You invest $10,000 in Rapid Growth Funds, which appreciate by 5% per year, with yields reinvested…

A: Present Value = $10,000 r=5%=0.05t=7 yearsn=4  compounded quarterly   Formula used: FV=PV1+rnnt

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A: Given,

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A: Option D is correct answer : Proof is given below :

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Q: Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary,…

A: We have, P=$4,250 , t=3 years, k=2 Now, since 8% yearly means semiannually rate =82%=4% Hence, rate…

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A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

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Q: If $400 is invested at an interest rate of 2.5% per year, find the amount of the investment at the…

A: We will use the following formula Here, P = $400 r = 2.5% = 0.025 t = 10

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