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At what nominal rate compounded quarterly would $20,000 have to be invested to amount to $26,425.82 in 7 years?

At what nominal rate compounded quarterly would $20,000 have to be invested to amount to $26,425.82 in 7 years?

Intermediate Algebra
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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2000 J is pusly, 1000 nt at 10 20 time 30 40 Years 31. Microsoft's stock price peaked at 6118% of its IPO price more than 13 years after the IPO (Source: Bloomberg Financial Markets). Suppose that $10,000 invested in Microsoft at its IPO price had been worth $600,000 (6000% of the IPO price) after exactly 13 years. What interest rate compounded annually does this represent? 32. If $10,000 had been invested in the Sagamore Capital Opportunity Fund on September 30, 2008, it would have been worth $46,649.55 on September 30, 2018. What interest rate compounded annually did this nnual uar- investment earn? 33. How long (in years) would $700 have to be invested at 11.9% compounded continuously to earn $300 interest? 34. How long (in years) would $600 have to be invested at 8% compounded continuously to amount to $970? 35. At what nominal rate compounded quarterly would $20,000 have to be invested to amount to $26,425.82 in 7 years? 36. At what nominal rate compounded annually would $10,000 have to be invested to amount to $14,071 in 7 years? 37. For her 1st birthday, Ruth's grandparents invested $1000 in an 18-year certificate for her that pays 8%
Transcribed Image Text:2000 J is pusly, 1000 nt at 10 20 time 30 40 Years 31. Microsoft's stock price peaked at 6118% of its IPO price more than 13 years after the IPO (Source: Bloomberg Financial Markets). Suppose that $10,000 invested in Microsoft at its IPO price had been worth $600,000 (6000% of the IPO price) after exactly 13 years. What interest rate compounded annually does this represent? 32. If $10,000 had been invested in the Sagamore Capital Opportunity Fund on September 30, 2008, it would have been worth $46,649.55 on September 30, 2018. What interest rate compounded annually did this nnual uar- investment earn? 33. How long (in years) would $700 have to be invested at 11.9% compounded continuously to earn $300 interest? 34. How long (in years) would $600 have to be invested at 8% compounded continuously to amount to $970? 35. At what nominal rate compounded quarterly would $20,000 have to be invested to amount to $26,425.82 in 7 years? 36. At what nominal rate compounded annually would $10,000 have to be invested to amount to $14,071 in 7 years? 37. For her 1st birthday, Ruth's grandparents invested $1000 in an 18-year certificate for her that pays 8%
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