A bank offers 5% interest compounded continuously in a savings account. Determine (a) the amount of interest earned in 1 year on a deposit of P10000; and (b) the equivalent rate if the compounding were done annually.

Q: Suppose a bank account pays interest that is compounded 6 times per year. If initial deposit was…

A: Initial amount=P= 1500 Final amount= A= 6000 Time = 4 years  Interest rate = r= ? Number of times…

Q: An amount of $25,000 is deposited in a bank that pays interest rate of 4% year, compounded annually.…

A:

Q: Totsakan invests $8,151 in a savings account with a fixed annual interest rate of 6.47% compounded…

A:

Q: What is the compound interest if $490 is invested for 12 years at 10% compounded continuously?

A:

Q: What rate of interest compounded annually is required todouble an investment in 6 years?

A: We know that, A=P1+rnnt         ...(1) Where A =  final amount. P = Initial principal balance r =…

Q: Suppose that the annual interest rate on your checking account is 8 percent compounded continuously.…

A: Given that:  Interest rate, r=8%                       Amount after 7 years, A=$6300…

Q: How much should be deposited in an account today so that earns 7.2% compounded monthly so that it…

A: Given: Amount = $12000 Rate, r = 7.2% = 0.072 Time(in years) = 10    To determine: The amount that…

Q: Find the amount that results from the given investment. $700 invested at 4% compounded daily after a…

A: Compound interest:In compound interest, interest is added back to the principal sum so that interest…

Q: Jaidee invests $1,966 in a savings account with a fixed annual interest rate of 2.45% compounded…

A: The formula for continuous compound interest is given by A = Pert Where A is future value P is the…

Q: Talin invests $ 978,000 at 2.47 % /a, compounded monthly. Calculate the total amount of the interest…

A:

Q: If $5,000 is deposited in an account that receives 6.1% interest compounded continuously, how much…

A: Given, Initial amount deposited, P=$5,000Rate of interest, r=6.1%=0.61

Q: Suppose you invest $17,290 in an account that earns interest at an APR of 3.4%,compounded…

A:

Q: What annual rate of interest compounded annually is required to double an investment in 7 years?…

A: The formula to calculate compound interest is A = P ( 1 + r/n )t*n

Q: What is the nominal rate of interest if 4,000 accumulates to 10,000 in 8 years with interest…

A:

Q: What is the equivalent annual rate, compounded continuously, of an annual rate of 144%, compounded…

A:

Q: Find the interest rate required for an investment of$5000 to grow to $7500 in 5 years if interest is…

A: Given the principle of investment (P) =$5000 , amount after 5 years (A)=$7500 and time duration…

Q: What interest rate, to the nearest tenth of a percent, is required for an investment subject to…

A: we have to use the formula for compound interest to find interest rate, to the nearest tenth of a…

Q: Carlos invests $1,357 in a savings account with a fixed annual interest rate of 8% compounded…

A: Invested amount (p) = $1357  Interest rate = 8% Time period= 8 years   We have to calculate the…

Q: What rate of interest compounded annually is needed to make an investment of $6,500 accumulate to an…

A:

Q: What interest will be earned if $6600 is invested for 2 years at 10% compounded monthly?

A: Given: The principal amount is $6600. The time duration is 2 years. The rate of interest is 10%…

Q: Suppose that $500 amounted to $588.38 in a savings account after three years. If interest was…

A:

Q: A bank offers 59% interest compounded continuously in a savings account. Determine (a) the amount of…

A: We will use continuous compounding and compounding annually formulas to evaluate the given two…

Q: What is the interest rate compounded quarterly if ₱2,500,000 is invested and the amount became…

A: The formula for the amount is A = P1+rnnt, where r is the rate of the interest and n is the number…

Q: Suppose you invest $755 in an account that earns interest at an APR of 2.6%, compoundedsemiannually.…

A:

Q: $35,000 is invested at 2.9% interest compounded continuously, how long will it take for the account…

A: Given: $35,000 is invested at 2.9% interest compounded continuously. To find: How long will it take…

Q: Suppose that $5000 is placed in a savings account at an annual rate of 9.4%, compounded quarterly.…

A:

Q: What is the balance after 1 year in an account containing $1000 that earns a yearly nominal interest…

A: This question can be solved using the concept of compound interest.

Q: interest rate of 5.68% is being compounded monthly. What percentage is actually being added on to…

A: Given, R= 5.68% Compounded monthly n= 12

Q: What is the compound interest if $410 is invested for 10 years at 8% compounded continuously?

A: Given that $410 is invested for 10 years at 8% compounded continuously. we have the formula for…

Q: A bank quotes an interest rate as 0.06341 annual effective yield. What interest rate, compounded…

A:

Q: Use the formula for continuous compounding to solve:What interest rate, to the nearest percent, is…

A: A=P ertP is the initial amount or invested amountA is the amount after t years.

Q: ind the interest rate needed for an investment of $7,000 to grow to an amount of $10,500 in 7 years…

A: formula : where, r = interest rate t = time period = 7 years n = number of compound in a year = 4…

Q: A person took out a loan of $100,000 from a bank thatcharges 7.5% interest compounded continuously.…

A: Given- P=$100,000,r=7.5% and t=10 years To find- The annual rate of payments if the loan is to be…

Q: A $50,000 GIC will earn $70,000 of interest over its 10-year term. What is the monthly compounded…

A:

Q: Suppose that $6000 is placed in a savings account at an annual rate of 4.2 %, compounded monthly.…

A:

Q: Gabriella invests $4,114 in a retirement account with a fixed annual interest rate of 4.87%…

A: A(t) = P ert where,                 P = $ 4114                 r = 4.87% =…

Q: If $11,000 is invested at 6% interest compound monthly, find the interest earned in 18 years. The…

A:

Q: If $3,000 is invested at 6% compound monthly, what is the amount after 8 years?

A: If $3,000 is invested at 6% compound monthly, what is the amount after 8 years?

Q: step by step please. was told this was using the compound interest formula

A: To calculate the value of the account after the given time period at the given rate of interest we…

Q: suppose that $2200 is borrowed for seven years at an interest rate of 2% per year, compounded…

A:

Q: You want to have $100,000 when you retire in 10 years. If you can earn 7% interest compounded…

A: You want to have $100,000 when you retire in 10 years. If you can earn 7% interest compounded…

Q: Find the present value of $51,714.38 due in 8 years at an interest rate of 6%/year compounded…

A:

Q: On January 1, 2000, Amy deposited $1,000 into an Individual Retirement Account (IRA) paying interest…

A:

Q: Suppose that $2500 is placed in a savings account at an annual rate of  5%, compounded quarterly.…

A:

Q: Find the compound amount and the amount of interest earned by the deposit below. ​$6,000 at 6.54​%…

A: Given that: Principal amount invested =$6000 Rate of interest = r = 6.54% = 0.0654 Time in years = t…

Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

A:

Q: Daniel deposits $8,000 into a continuously compounding interest account. After 18 years, there is…

A: