5. Answer questions A,B,C,D ,E An initial investment amount P, an annual interest rate r, and a timet are given. Find the future value of the investment when interest iscompounded (a) annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate.P= $15,000, r= 3.5%, t 39 monthsa) The future value of the investment when interest is compounded annually is $(Type an integer or a decimal. Round to the nearest cent as needed.)Clear allCheck answerTextbookAsk my instructorConvrightearson Education Inc All riale Type here to searchfs?米esc

An initial investment amount P, an annual interest rate r, and a time t are given. Find the future value of the investment when interest is compounded (a) annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate. P=$15,000, r= 3.5%, t 39 months

An initial investment amount P, an annual interest rate r, and a time t are given. Find the future value of the investment when interest is compounded (a) annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate. P=$15,000, r= 3.5%, t 39 months

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

ChapterP: Prologue: Calculator Arithmetic

Section: Chapter Questions

Problem 35SBE: Future Value In certain savings scenarios, the value F of an investment after t years, the future...

See similar textbooks

Similar questions

An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000 Compare the values of the account after 9 yearswhen the interest is compounded annually, quarterly,monthly, and continuously.
Future Value In certain savings scenarios, the value F of an investment after t years, the future value, is given by F=P1+rt. Here r is the yearly interest rate as a decimal, P is the amount of the original investment and t is the term of the investment. If we invest 1000 at an interest rate of 0.06 per year as a decimal, and if the term of the investment is 5 years, what is the future value?continued
Equity in a Home When you purchase a home by securing a mortgage, the total paid toward the principal is your equity in the home. Technically, the lending agency calculates your equity by subtracting the amount you still owe on your mortgage from the current value of your home, which may be higher or lower than your principal. Assume that your mortgage is for 350, 000 at a monthly rate of 0.007 as a decimal and that the term of the mortgage is 30 years. Then your equity after k monthly payments is 350, 0001.007k-11.007360-1 dollars. Calculate the equity in your home after 10 years.
Allan invested $10,000 in a mutual fund. If the interest rate is 5%, how much will be in the account in 15 years by each method of compounding? compound quarterly compound monthly compound continuously
Trust Fund On the day of a child’s birth, a parent deposits $30,000 in a trust fund that pays 5 interest, compounded continuously. Determine the balance in this account on the child’s 25th birthday.