Justin wants to buy a bond that will mature to $6000 in eight years. How much should he pay for the bond now if it earns interest at a rate of 2.5% per year, compounded continuously? Do not round any intermediate computations, and round your answer to the nearest cent.

Q: Samuel is going to invest $1,700 and leave it in an account for 16 years. Assuming the interest is…

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Q: Gabriel invested $17,000 in an account paying an interest rate of 3% compounded annually. Assuming…

A: It is compound interest problem for calculating time period.

Q: Abigail wants to save $15,000 to buy a car in 7 years. If she deposits $10,000 into an account that…

A: Topic- compund intrest

Q: Samuel is going to invest $4,900 and leave it in an account for 14 years. Assuming the interest is…

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Q: To the nearest penny, how much would you have to invest right now in a fund paying 5% continuously…

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Q: How long will it take an investment of $4000 to grow to $10000 if it is invested in an account that…

A: Topic = Algebra   A=P1+rnntA=Final amountP=Principalr=rate of interestn=1 for anuallyt=time

Q: Avery invested $21,000 in an account paying an interest rate of 3.3% compounded continuously.…

A: GIVEN Principal , P = $21000\ Amount , A = 29200 Rate , r = 3.3% = 0.033 For continuously…

Q: If $25,000 is invested at 8% compounded quarterly, how long (in quarters) will it be before it grows…

A: Here,S=35,000P=25,000r=0.08 n=4

Q: If you borrow $8,500 at 4% interest, what is the amount that you will owe in five years if…

A: To find the amount owe in 5 years if compounding continuously :

Q: Lena wants to buy a bond that will mature to $6000 in eight years. How much should she pay for the…

A: Use compounded continuously formula

Q: If $3,700 was invested 4 months ago at a simple interest rate of 1.9%, what would be the value of…

A: A $3,700 was invested 4 months ago at a simple interest rate of 1.9%.

Q: An artist currently has $840,000 to invest and her goal is to use these resources to acquire a $1.5…

A: From the given information, it is observed that P = $840,000, t = 6 and A = $1,500,000. Here, the…

Q: One hundred shares of a technology stock were purchased on January 2, 1990, for $1200 and sold on…

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Q: Shemp has inherited $50,000 from a recently deceased long-lost aunt. He invests his newfound money…

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Q: How long did it take for an investment of $30,000 to grow to at least $36,000 at 2.75% compounded…

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Q: Melissa wants to buy a bond that will mature to $5000 in six years. How much should she pay for the…

A: The answer is found in step-2

Q: Amy wants to buy a bond that will mature to $5500 in eight years. How much should she pay for the…

A: Consider the following formula of compound interest compounded continuously: Pt=P0ert…

Q: Jackson invested $4,200 in an account paying an interest rate of 9 1/2 % compounded continuously.…

A: Jackson invested $4,200 in an account paying an interest rate of 9 1/2 % compounded continuously.…

Q: A building was bought for $150,000 and sold 10 years later for $400,000. What interest rate…

A: given: A building was bought for $150,000 and sold 10 years later for $400,000. we have to determine…

Q: how many years will it take for an initial deposit of p dollars to double if interest is compounded…

A: Given,           The initial deposit is p dollars and the rate of interest is 3%.

Q: Peyton is going to invest $71,000 and leave it in an account for 18 years. Assuming the interest is…

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Q: Matthew invested $4,700 in an account paying an interest rate of 3% compounded monthly. Peyton…

A: We have to find the difference between the amount received by Matthew and Peyton.

Q: How long will it take $14000 to grow to $16000 if it is compounded quarterly at a rate of 3.1%?…

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Q: How long will it take $10,000 to grow to $15,000 if the investment earns an interest rate of 12% per…

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Q: You invest $13,000 in Rapid Growth Funds, which appreciate by 2% per year, with yields reinvested…

A: Given that: Yield is being reinvested quarterly, hence its quarterly compounding

Q: Upon the death of his aunt, Lucien receives an inheritance of $40,000, which he invests for 13 years…

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Q: How long will it take for a $3000 investment to grow to $3555 at an annual rate of 3%, compounded…

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Q: How long did it take for an investment of $23,750 to grow to at least $27,000 at 2.25% compounded…

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Q: Brayden now has $2,500 in her CD, which has compounded continuously over a period of 12 years. She…

A: Given: Principle amount: (P)=$1,800  Amount after 12 years A=$2,500 Rate of interest=? The formula…

Q: Mike and Terri estimate that they want to buy a house for $174,000.00, and they need to make a down…

A: Given data:   The given cost of a house is C=$174,000.00. The given percentage of the down payment…

Q: Barbara knows that she will need to buy a new car in 6 years. The car will cost​ $15,000 by then.…

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Q: How long will it take for a $7000 investment to grow to $8078 at an annual rate of 4.2%, compounded…

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Q: The average cost of a 4-year college education is projected to be $410,000 in 15 years. How much…

A: Calculation:From the given, A = $410,000,  r = 7% and t = 15 years and n = 4.Compute the principal…

Q: Kevin wants to buy a bond that will mature to $4500 in nine years. How much should he pay for the…

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Q: Mariah is investing $40,000 in a bond that pays 2.3% interest compounded continuously. How much will…

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Q: Nancy wants to invest $4000 in saving certificates that bear an interest rate of 9.75% per year,…

A: Given: Nancy wants to invest $4000 in saving certificates that bear an invest rateof 9.75% per year,…

Q: The Thomassians will need $50,000 in three years to expand their business. What is the equivalent…

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Q: Mr. Johnson invested R25 000 at a rate of 9,95% p.a. compounded quarterly. How long will it take for…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: if 25,000 is invested at 12%, How much will it be worth after 5 years if it is compounded annually?

A: Remember that, Compound interest (or compounding interest) is the interest on a loan or deposit…

Q: Francis wants to have 22000 in 10 years calculate how much he should invest now at 8% interest…

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Q: A recent college graduate decides to open a credit card in order to pay for their upcoming trip…

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Q: How long did it take for an investment of $25,000 to grow to at least $28,000 at 2.75% compounded…

A: Given: A = $28000 P = $25000 r = 2.75% We know the quarterly compound interest formula as A=P1+r44t.…

Q: If you need $50,000 four years from now, what is the minimum amount of money you need to deposit…

A: A = $50000 , R =3% , t=4 years1) Compounded annuallyA =…

Q: Find the time required for an investment of 5000 dollars to grow to 6700 dollars at an interest rate…

A: The objective is to find the time required for an investment of 5000 dollars to grow to 6700 dollars…

Q: How long will it take $2,000 to grow to $24,000 if it is invested at 5% compounded monthly? years…

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Q: b. Suppose you as a businessman leave an initial amount of $600 in a savings account at an annual…

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Q: Ben franklin bequeathed $4000.00 to the city of Boston in 1790. Assuming the fund grew to $15…

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Q: A philanthropist deposits $50,000 into a trust fund that pays 4.5%, compounded continuously. The…

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