Answered: At what rate do you need to invest…

At what rate do you need to invest money into a bank account earning continuously compounded interest if you want to double your money in 2525 months? Thank you!

Algebra for College Students

10th Edition

ISBN:9781285195780

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter10: Exponential And Logarithmic Functions

Section10.2: Applications Of Exponential Functions

Problem 25PS

See similar textbooks

Related questions

Q: Kimi invests $4,000 at 3% interest compounded continuously. How much money will she have in4 years?

Q: Serenity is going to invest $130 and leave it in an account for 19 years. Assuming the interest is…

A: Just use the formula for the compound interest and simplify.

Q: A stock portfolio increased in value from $100,000 to $117,000 in 2 years. What rate of interest,…

A: To find: The rate of interest, compound continuously. Given: The stock portfolio increased from…

Q: Camila invested $9,100 in an account paying an interest rate of 4.6% compounded continuously.…

A: Given problem:- Camila invested $9,100 in an account paying an interest rate of 4.6% compounded…

Q: Dash invested $10,000 at 3% interest compounded continuously. How much will he have after 8 years?

A: The formula for compound interest is, A = Pert A = Final Amount P = Principal r = rate of interest t…

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: Find the time it takes for $6,700 to double when invested at an annual interest rate of 5%,…

A: (a) Given - Original amount=$6,700 Interest rate=5% , compounded continuously. To find - The time…

Q: How long does it take for an investment to double in value if it is invested at 16% compounded…

Q: Adrian invested $790 in an account paying an interest rate of 6.9% compounded continuously. Assuming…

A: Principle amount, P=$790Future amount, A=$2550Interest rate, r=6.9%=0.069

Q: If 7000 dollars is invested in a bank account at an interest rate of 5 per cent per year, compounded…

A: Given that, the initial amount is P=7000 interest rate is r=5%, compounding period is p=1 and final…

Q: 6000 dollars is invested in a bank account at an interest rate of 8 percent per year, compounded…

A: NOTE: Refresh your page if you can't see any equations. . for continuous compound, use the formula…

Q: Find the present value of $2000 to be received in 10 years, if money may be invested at 8% with…

Q: what rate do you need to

A: Here we use equation for calculating intrest when compounded continuously.

Q: Eli invested $9,400 in an account paying an interest rate of 2.3% compounded continuously. Assuming…

Q: See photo attached, thank you.

Q: what is the compound interest if $43000 is invested for 5 years at 6% compounded continuously?

A: Given, The compound interest if $43000 is invested for 5 years at 6% compounded…

Q: If 3000 dollars is invested in a bank account at an interest rate of 4 per cent per year, compounded…

Q: Alexa invested $54,000 in an account paying an interest rate of 4% compounded continuously. Assuming…

Q: Find the amount A in dollars of $8000 invested for 30 years at 10% compounded continuously.

A: Given- P= $8000, r=10%, t=30years. To find- The total amount A. Formula used- A=P1+r100n, where A=…

Q: You deposit 4000 in an account earning 4% interest compounded continuously. How much will you have…

Q: how much money should be invested in an account that earns 7% interest, compounded quarterly, in…

Q: How long will it take for $4000 to double in value if it is deposited in an account bearing 7%…

A: Continuous compound interest formula: A=Pert P-principle A-Amount r-rate t-number of years.

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: Andrea Davis plans to invest $720 into a money market account. Find the interest rate that is needed…

Q: You want to have $300,000 when you retire in 30 years. If you can earn 5% interest compounded…

Q: At what rate do you need to invest money into a bank account earning continuously compounded…

A: t = 30 months. Let P be the principal amount.

Q: Jade invested $1966 with a fixed annual interest rate of 2.45% compounded continuously. What will be…

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: A woman invests $6400 in an account that pays 6% interest per year, compounded continuously. (a)…

A: To find the Final amount by using Compound interest, the following formula can be used…

Q: If 3000 dollars is invested in a bank account at an interest rate of 9 per cent per year, compounded…

Q: The value of a savings bond is growing by 2.8% per year compounded continuously. At this growth…

Q: Kimi invests $4,000 at 3% interest compounded continuously. How much money will she have in 4 years?

A: Given that, Invest value (P) =$4000 Interest rate(r) = 3% Time (t) =4 years

Q: A principal of Php 12000 is deposited in a 7% account and compounded continuously. At the same time…

A: Solving the problem by finding the value of the time in years.

Q: Bella invested $8,400 in an account paying an interest rate of 1.9% compounded continuously.…

Q: Suppose your great-great grandfather invested $300 earning 3.5% interest compounded continuously 100…

Q: A principal of RM2000 is invested at 10% interest compounded continuously. After how many days will…

Q: You deposit $3000 in an account earning 4% interest compounded continuously. How much will you have…

Q: If an account with initial amount of 2000 dollars earns 10% interest compounded continuously, how…

Q: How long (in years) would $14,000 have to be invested at 6% compounded continuously to earn…

A: Use the formula of compound interest and p a the value.. Use calculator to get the answer

Q: Find the time it takes for $6,600 to double when invested at an annual interest rate of 10%,…

A: NOTE** As per bartleby guidelines for more than one question asked only first is to be answered…

Q: If $100 is invested at 8% compounded monthly what is the amount after 6 years? how much interest is…

A: amount = P (1+r/n)nt Interest = amount - Principal

Q: How long does it take $2000 to double if it is invested at 4.25% interest, compounded continually?

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: David invested $220 in an account paying an interest rate of 1.7% compounded continuously. Assuming…

Q: How much money must be deposited today to become $2450 in 60 years at 6.5% compounded continuously?

Question

At what rate do you need to invest money into a bank account earning continuously compounded interest if you want to double your money in 2525 months? Thank you!

Expert Solution