62. If a couple has $80,000 in a retirement account, how long will it take the money to grow to $1,000,000 if it grows by 6% compounded continuously? Round to the nearest year.
Want to see the full answer?
Check out a sample Q&A here
Related Calculus Q&A
Find answers to questions asked by students like you.
Q: 11. In how many years will P6,500 accumulate to P10,000 if it is invested at 12% compounded…
A: Since you have posted a multiple question according to guildlines I will solve first question for…
Q: 26 How much money should be deposited today in an account that earns 4% compounded semiannually so…
A: From the given information, Total accumulated amount (after 4% compounded semiannually=A) =$14000…
Q: 4. In how many years is required for P4,000 to increase by P9,000 if interest is at 11% compounded…
A: Click to see the answer
Q: 5. What sum must be deposited today at 18% per year compounded monthly if the goal is to a compound…
A: According to the question: Given that,Rater=18 %=18100=0.18Compounded monthly⇒n=12A=50000Time…
Q: Checking Homework. Show Work.
A: Click to see the answer
Q: 1. A man invests $10, 000 in an account that pays 8.5% interest per year, compounded quarterly. What…
A: *** As per our guidelines we are supposed to answer only one question at a time. Since you have…
Q: 5. How long will it take an account paying 6% annual interest to double if it is compounded monthly?
A: Compound interest is the summation of the interests to the principal amount which has been deposited…
Q: How much money should be deposited today in an account that earns 7% compounded semiannually so that…
A: Let $x should be deposited today that earns 7y.Compound semi annually. So that it will accumulate…
Q: How much money should be deposited today in an account that earns 8% compounded monthly so that it…
A: How much money should be deposited today in an account that earns 8% compounded monthly so that it…
Q: How much money should be deposited today in an account that earns 8% compounded semiannually so that…
A: Click to see the answer
Q: How much money should be deposited today in an account that earns 8% compounded semiannually so that…
A: Click to see the answer
Q: What amount must be invested now to have $12,000 after 3 years if money is worth 6% compounded…
A: Click to see the answer
Q: 14. If you have $5000.00 to invest at a rate of 3.5% compounded monthly, how long would to save…
A: Click to see the answer
Q: What sum must be deposited today at 10 % per year compound quarterly, if the goal is to have a…
A: Let S be the sum deposited . and Let A be the compound amount i.e. A=$50,000 Now t=6 years It is…
Q: 7. Suppose that in 1880, one of your ancestors invested $46 compounded semi-annually at 6.5%. If…
A: Click to see the answer
Q: If 1,000,000 php is invested at 8% compounded quarterly, how many years will the investment grow to…
A: Click to see the answer
Q: Suppose that $7,000 is invested at 4%, compounded semiannually. How much is in the account at the…
A: Amount for compound interest:If P amount of money is invested for t years at r% rate of interest…
Q: If $30,000.00 is invested 6 1/4%(six and one fourth percent) compounded quarterly for 8 years, how…
A: Given, P = $30,000.00 ; r = 614%=254%=0.0625 and time = 8 years
Q: 44. If you invest $10,400 in the United States, and the interest is compounded monthly, when, to the…
A: Click to see the answer
Q: Suppose $2200 is invested in an account that offers 8% compounded half-yearly. How long will it take…
A: Click to see the answer
Q: If $200 is invested at 14% compounded quarterly, what is the interest earned after: a) 3 years…
A: Click to see the answer
Q: 6) Stanley Bank offers a money market account that earns 1.85% compounded continuously: a) If…
A: Click to see the answer
Q: 8. How much more does $1,000 earn in 8 years, compounded daily at 3%, than $1,000 over 8 years at…
A: Click to see the answer
Q: 1) If $5,000 is invested at 3.2% annual interest compounded semiannually, how much will the…
A: Compound Interet Semi AnnuallyA=P 1+e|21002n
Q: How much money should be deposited today in an account that earns 6% compounded monthly so that it…
A: The objective is to determine the principal amount that should be deposited in an account so that it…
Q: How much money should be deposited today in an account that earns 6% compounded monthly so that it…
A: If an amount P is deposited today in an account that earns interest rate r per compounding period,…
Q: 17. An account with an initial deposit of $ 6,500 earns 7.2% annual interest, compounded annually.…
A: Click to see the answer
Q: s) How much should be invested now so that in 10 years there will be $7,000 in an punt that offer a…
A: Click to see the answer
Q: if $300 is invested at an interest rate of 5% compounded quarterly, then the amount after 2 years is…
A: Amount , A= P(1+r/n)nt where, P= the principle amount r= rate of interest t=…
Q: 4) You want to invest money in an account that pays 8% nominal interest compounded annually. What…
A: Consider the compound interest formula. FV=P1+rnntwhere FV is the future value of the deposit…
Q: 14. Suppose that a person deposits 10.000 dollars in a savings account at a bank yielding % 11 per…
A: Recall the following. A=P1+rtA is the compound amount after t yearsP is the principal amountr is the…
Q: 12. You deposit $2000 in an account that pays 2% interest compounded continuously. When does the…
A: Click to see the answer
Q: A business man has an obligation to pay $ 8,000 four years from now, and another obligation to pay $…
A: Annuity refers to series of annual payment which is paid or received at start or ending of specific…
Q: Suppose that $1,000 is deposited into an account that yields 0.85% interest, compounded annually.…
A: Given: P=$1000r=0.85%=0.0085n=1t=4 Use the formula: A=P1+rnnt
Q: 1. Mr.Joe deposited $10,000 in a savinga account at 5%. If interest is compounded monthly. What…
A: As per Bartleby guidelines, we are supposed to solve only first question if multiple questions are…
Q: How much money should be deposited today in an account that earns 5% compounded semiannually so that…
A: The formula to calculate amount to be deposited in the account is shown belowwhere A is the…
Q: How much money should be deposited today in an account that earns 7% compounded semiannually so that…
A: Click to see the answer
Q: What amount should a person deposit today in a bank investment that pays 1.13% per month compounded…
A: Let the current funds deposited be X. Now expressing the question as an equation Current…
Q: 4. a. Suppose that betwee 401(k) and your employer 8.3%compounded annually dollar, after 18 years?
A: Click to see the answer
Q: (a) How long (to the nearest day) before the value is $1,250? |days |years, (b) How long (to the…
A: Given: Principal P = $1,000 Interest rate r = 7% = 0.07
Q: How much would you have to pay into an account at the beginning of every 3 months to accumulate…
A: Click to see the answer
Q: Assuming that you invest $13,000 in the United States, how long (to the nearest year) must you wait…
A: The formula for compound interest is, A=P1+r100n where, A is compounded amount P is the Principal…
Q: 14. If Tanisha opens an account with $5000 at an interest rate of 7% compounded weekly (Use 52…
A: Click to see the answer
Q: How much should a mother invest at the time her son is born in order to provide him with $100,000 at…
A: Given Rate of interest 3% compounded monthly amount=$100,000 n=21 years To evaluate Principal…
Q: Suppose a young couple deposits $800 at the end of each quarter in an account that earns 7.8%,…
A: Calculation: Since the deposits is made quaterly, the total number of periods for the first 3 years…
Q: If $1,000 is invested at 8% compounded (A) annually; (B) semiannually; (C) quarterly; (D) monthly;…
A: Click to see the answer
Q: If $1,000 is invested at 8% compounded (A) annually; (B) semiannually; (C) quarterly; (D) monthly;…
A: Click to see the answer
Q: What amount would have to be invested at the end of each year for the next 8 years at 4% compounded…
A: Click to see the answer
Q: What interest rate enables an imvestor to obtain a 70% increase in an investment in 2 years if the…
A: In this question, the concept of Compound interest is applied. Compound Interest Compound interest…
Q: How much should a mother invest at the time her daughter is born in order to provide her with…
A: A mother invest at the time her daughter is born in order to provide her with$95,000 at age 18. The…
