A family invests $10,000 in a bank at a rate of 4% compounded continuously. (Round your answer to the nearest cents and nearest years) (a) How much will be in the account after 6 years? (b) How much interest will be earned after 6 years? (c) How long will it take the family investment to reach $15,000 ?

Q: How long will it take $12,000 to grow to $15,000 if the investment earns interest at the rate of…

A: We can solve the problem by following steps.

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A: Principal amount = P = 12000 Interest = r= 3.5% = 0.035 Final amount = A= 12000(2)= 24000 time=t=?

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A: Follow the procedure given below.

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Q: What is the compound interest if $43,000 is invested for 5 years at 6% compounded continuously?

A: To find the final value of an investment use this compound interestformula:Investment Value = P x (…

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A: We have to find how much money should be invested in an account that earns 6% interest, compounded…

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

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A: TO FIND: How much money should they invest now at an interest rate of 9% per year, compounded…

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A: If the interest is compounded, then the formula that is used is FV=PV1+rnnt. Here FV is future…

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A: Given: Principal = $7000 Amount = $14000 Interest = 8% compounded monthly Formula used: A=P1+rnnt…

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A: This question can be solved using the formula for amount after t years when interest is compounded…

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A: In this question, we have to calculate time with respect to the solution A=P1+rktk where, A = future…

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A: Given problem:- Mr. and Mrs. Thomas hope to send their son to college in 11 years. How much money…

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A: Formula for compound interest:

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A: The formula for compound interest, including principal sum, is A = P 1+rnnt Where A = the future…

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A: Given query is to find the rate of interest.

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Q: What is the compound interest if $46,000 is invested for 10 years at 8% compounded continuously?…

A: Amount in continuous compound interest: where,

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Q: 7000 dollars is invested in a bank account at an interest rate of 6 percent per year, compounded…

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Q: How much money should be invested in an account that earns 3% interest, compounded monthly, in order…

A: From the given data,Interest rate r=3%, time period t=5yeras and P=$15000.

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