menu
bartleby
search
close search
Hit Return to see all results

n12412365continuousA      Complete the table to find the balance A for P dollars invested at rate r for t years,compounded n times a year. Round your answers to the nearest centP=$1000, r=10% , t=30 years

Question
n 1 2 4 12 365 continuous
A            

Complete the table to find the balance A for P dollars invested at rate r for t years,compounded n times a year. Round your answers to the nearest cent

P=$1000, r=10% , t=30 years

check_circleAnswer
Step 1

Given,

P=$1000, r 10%= 0.1, t=30 years
Now
When n 1 then
0 11x30
A 1000 1+
1
17449.40
When n 2 then
0 12x30
A 1000 1+
2
18679.19
When n 4 then
0.14x30
A 1000 1+
= 19358.15
11
help_outline

Image Transcriptionclose

P=$1000, r 10%= 0.1, t=30 years Now When n 1 then 0 11x30 A 1000 1+ 1 17449.40 When n 2 then 0 12x30 A 1000 1+ 2 18679.19 When n 4 then 0.14x30 A 1000 1+ = 19358.15 11

fullscreen
Step 2
When n
12 then
0 1 12x30
A 1000 1
12,
19837.40
When n 365 then
0.1365x30
A = 1000 1 +
365
20077.29
When it is compounded continuously then
20085.54
A = 1000e0.1x30
help_outline

Image Transcriptionclose

When n 12 then 0 1 12x30 A 1000 1 12, 19837.40 When n 365 then 0.1365x30 A = 1000 1 + 365 20077.29 When it is compounded continuously then 20085.54 A = 1000e0.1x30

fullscreen

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Our solutions are written by experts, many with advanced degrees, and available 24/7

See Solution
Tagged in

Math

Algebra

Other

Related Algebra Q&A

Find answers to questions asked by student like you

Show more Q&A add

Sorry about that. What wasn’t helpful?