Asked Apr 13, 2019

If $1500 is invested at an interest rate of 5.75% per year, compounded quarterly, find the value of the investment after the given number of years (Round your answers to the nearest cent.)

(a) 1 year

(b) 2 years

(c) 12 years


Expert Answer

Step 1

To calculate the value of the investment (where the interest is compounded) for different time periods

Step 2

Unlike  simple interest, when the interest is compounded, the interest accrued earlier is also added to the investment (repeatedly) at given time periods. The value of the investment increases exponentially in this case.

Step 3

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in




Related Calculus Q&A

Find answers to questions asked by student like you
Show more Q&A

Q: 1. Given the function f(x) x-4x (a) Determine if the function x) defined on Theorem. If so, find the...

A: a) To check whether the given function satifies the Rolle\\\\\\'s theorem over the interval [0, 4] o...


Q: Let R be the region bounded by y x, x 1, and y 0. Use the shell method to find the volume of the sol...

A: (A)It is given that, the region bounded by y = x2, x = 1 and y = 0.The region around the line y = -8...


Q: y′−6x=5+2y y(0)=−3 Is y=e2x −3x−4 a solution to the initial value problem shown above?

A: The given differential equation is y′−6x=5+2y.The solution of the deferential equation is given as, ...


Q: Approximate the area of the shaded region using the Trapezoidal Rule and Simpson's Rule with n = 4. ...

A: Given information:The value of n is 4. 


Q: 5. (4.9) A particle is moving with the given data. Find the position function of the particle: at)si...

A: Acceleration function is given as a(t) = sin(t) + 3cos(t).Integrate the acceleration function to get...


Q: The function s(x) = 3600/(60 + x) = 3600(60 + x)^-1 gives a person's average speed in miles per hour...

A: The function of distance,


Q: Calculate the area, in square units, bounded above by f(x)=−2x2 −x−21 and below by g(x)=−x2 −12x+9.

A: Click to see the answer


Q: please explain how to solve this problem

A: Consider x be the number of times the price is reduced by $0.05.


Q: Show that f(x, y) = ln(x2 + y2) solves Laplace's equation, ∂2z ∂x2  +  ∂2z ∂y2  = 0...

A: Given Laplace’s equation is