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Eng. economics.
If $2000 is invested at 7% interest compounded continuously calculate its value after 3 years.
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- How long will it take GH¢2,000 to accumulate GH¢800 interest at 10% compounded quarterly?SHOW SOLUTION If the effective interest rate is 24%, what nominal rate of interest is charged for a continuously compounded loan?Compared the interest earned by $13,000 for seven years at 8% simple interest with interest earned by the same amount for seven years at 8% compounded annually. Why does difference occur? The simple interest earned is $? The compound interest earned is $?
- Rafael invested $2,000 in a business that yields an annual interest rate of 10% compounded continuously. How much would he get. approximately at the end of 5 years from his investment?Suppose that $5,000 is placed in a bank account at the end of each quarter over the next 9 years. What is the future worth at the end of 9 years when the interest rate is 14 compounded at the given intervals? (a) Quarterly (b) Monthly (c) ContinuouslyHow many years will it take an investment to triple if the interest rate is 8%compounded(a) quarterly?(b) monthly?(c) continuously?
- Compare the interest earned by $9,000 for six years at 7% simple interest with interest earned by the same amount for six years at 7% compounded annually. Why does a difference occur? The simple interest earned is $ ?Suppose a certain manufacturer deposits $3, 000 at the beginning of each 3 month period for 8 years in an account paying 8% interest compounded quarterly. (Round your answers to the nearest cent.) (a) How much (in $) will be in the account at the end of the 8 year period? $ Incorrect: Your answer is incorrect. (b) What is the total amount (in $) of interest earned in this account? $ Incorrect: Your answer is incorrectProblem 2: You were entitled to receive $5,000 at the end of six months for the rest of your life. If the interest rate is 10% compounded monthly, what is the present value of perpetuity? *Please show your correct and complete solution to the problem. Thank you!
- A rich man put up a trust fund in the bank to give his son the earnings of P 400, 000 at the end of every four years and to continue until the 20th year. What is the amount of money placed in the trust fund if guaranteed interest is 16% per year? Use a Cash flow diagram. Discuss the concept of Trust Fund.Mr. Bill deposited 100,000 pesos in bank account earning interest at the rate of 10% compounded quarterly, what will it become at the end of 10 years?How long will it take for $5,000 to double when invested at 8% compounded quarterly?
