8. An amount of $4,000 is deposited in a bank paying an annual interest rate of3.1% compounded continuously. Find the balance after 4 years.15306,9at

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Answered: 8. An amount of $4,000 is deposited in…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Similar questions

Halep Inc. borrowed $30,000 from Davis Bank and signed a 4-year note payable stating the interest rate was 4% compounded annually. Halep Inc. will make payments of $8,264.70 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600
Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.
An amount of ₱234,000 is deposited in a bank paying an annual interest rate of 6.15%, compounded continuously. Find the balance after 3 years.
$600.00 was invested in a bank for 5 years. When the deposit was made, the bank was paying the 14% capitalizable each quarter. Three and a half years later, the rate changed to 12.2% capitalizable each month. Calculate the amount at the end of the five years.
The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Find how much money will be in the account after the given number of years (Assume 360 days in a year.), and how much interest was earned. A = PntP = A = PertY = n - 1Principal: $6500Rate: 7%Compounded: quarterlyTime: 4 years
A lump sum deposit of $8,000 left in the bank for 12 years at 9% compounded annually will result in an ending balance of: (Report an integer)

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8. An amount of $4,000 is deposited in a bank paying an annual interest rate of 3.1% compounded continuously. Find the balance after 4 years. 1530