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Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Calculate the compound interest on an investment of $34,000 at 8% interest, compounded quarterly, for 5 years. O $13,600.00 O $15,957.22 O $16,522.30 O $50,522.30

Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Calculate the compound interest on an investment of $34,000 at 8% interest, compounded quarterly, for 5 years. O $13,600.00 O $15,957.22 O $16,522.30 O $50,522.30

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Calculate the compound interest on an investment of $34,000 at 8% interest, compounded quarterly, for 5 years. O $13,600.00 O $15,957.22 O $16,522.30 O $50,522.30
Transcribed Image Text:Solve the following problem using either Table 11-1 or Table 11-2 from your text. When necessary, create new table factors. (Round new table factors to five decimal places, round dollars to the nearest cent and percents to the nearest hundredth of a percent) Calculate the compound interest on an investment of $34,000 at 8% interest, compounded quarterly, for 5 years. O $13,600.00 O $15,957.22 O $16,522.30 O $50,522.30
23 214- 1/1 TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest) Perlods 1% 2% 3% 4% 5% 6% 7% 8% Perlods 1.05000 1.06000 1.12360 1.00500 1.01000 1.01500 1.02000 1.03000 1.04000 1.07000 LO8000 2 1.01003 1.02010 1.03023 1.04040 L.06090 1.08160 1.10250 1.14490 1.16640 3 1.01508 1.03030 1,04568 1.06121 L.09273 1.12486 1.15763 1.19102 1.22504 L.25971 3 4 1.02015 1.04060 1.06136 1.08243 1.12551 1.16986 1.21551 1.26248 1.31080 1.36049 4 1.02525 1.05101 1.07728 1.10408 1.15927 1.21665 1.27628 1.33823 1.40255 L.46933 1.03038 1.03553 1.06152 L.09344 1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 6. 7 1.07214 1.10984 1.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.71382 1.04071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 1.83846 1.96715 6. 1.04591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.99900 9 10 1.05114 1.10462 1.16054 121899 1.34392 1.48024 1.62889 1.79085 2.15892 10 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.71034 1.89830 2.10485 2.33164 11 12 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2 51817 12 2.71962 1.06699 1.07232 1.21355 1.23176 13 1.13809 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 13 14 1.14947 1.31948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 14 15 1.07768 1.16097 1.25023 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3.17217 15 16 1.08307 1.17258 1.26899 1.37279 1.60471 1.87298 2.18287 2.54035 2.95216 3.42594 16 2.69277 3.70002 17 1.65285 1.70243 17 1.08849 1.18430 1.28802 1.40024 1.94790 2.29202 3.15882 18 1.09393 L.19615 1.30734 1.42825 2.02582 2.40662 2.85434 3.37993 3.99602 18 19 1.09940 1.20811 1.32695 1.45681 1.75351 2.10685 2.52695 3.02560 3.61653 4.31570 19 20 1.10490 1.22019 1.34686 1.48595 1.80611 2.19112 2.65330 3.20714 3.86968 4.66096 20 1.11042 1.11597 5.03383 5.43654 21 1.23239 1.36706 1.51567 1.86029 2.27877 2.78596 3.39956 4.14056 21 22 1.24472 1.38756 1.54598 1.91610 2.36992 2.92526 3.60354 4.43040 22 23 1.12155 1.25716 1.40838 1.57690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87146 23 5.07237 6.34118 2.03279 2.09378 1.26973 4.04893 24 1.60844 1.64061 24 1.12716 1.42950 2.56330 3.22510 25 1.13280 1.28243 1.45095 2.66584 3.38635 4.29187 5.42743 6.84848 25 Periods 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods 1.14000 1.29960 1.10000 1.13000 1.15000 1.16000 1.17000 L.18000 L11000 1.23210 1.09000 1.12000 1.25440 1.27690 1.32250 1.34560 1.39240 1.36890 1.60161 1.18810 1.21000 3. 1.29503 1.33100 1.36763 1.40493 1.44290 1.48154 1.52088 1.56090 1.64303 3 1 1.46410 1.87389 2.19245 4 1.41158 1.S1807 1.57352 1.63047 1.68896 1.74901 1.81064 1.93878 4. 1.53862 161051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2.28776 2.69955 3.18547 3.75886 4.43545 1.77156 2.08195 2.19497 2.31306 2.43640 2.56516 3.00124 3.51145 4.10840 1.67710 1.87041 1.97382 1.82804 1.94872 2.07616 221068 2.35261 2.50227 2.66002 2.82622 2.65844 2.47596 2.77308 3.10585 2.85259 3.05902 3.27841 3.80296 4,41144 1.99256 2.14359 2.30454 9 2.17189 2.35795 2.55804 3.00404 3.25195 3.51788 9 10 2.36736 2.59374 2.83942 3.39457 3.70722 4.04556 4.80683 5.23384 10 S.62399 6.58007 7.69868 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 5.11726 6.17593 7.28759 5.35025 6.15279 3.89598 4.33452 4.81790 5.93603 12 3.13843 3.45227 3.79750 12 2.81266 3.49845 3.88328 4.36349 4.88711 13 3.06580 4.89801 5.49241 6.88579 8.59936 13 7.98752 9.00745 10.14724 10.53872 1197375 6.26135 7.07571 14 4.31044 4.78459 14 3.34173 5.53475 15 3.64248 4.17725 5.47357 6.25427 7.13794 8.13706 9.26552 15 6.13039 6.86604 7.06733 7.98608 9.35762 10.76126 10.74800 12.16768 14.16251 16.77652 12.33030 14.42616 16.67225 8.13725 9.27646 10.57517 12.05569 11.52309 13.74349 14.12902 16 5.31089 5.89509 16 3.97031 4.59497 17 4.32763 5.05447 17 18 4.71712 5.55992 6.54355 7.68997 9.02427 12.37545 16.87895 19.67325 18 19.74838 861276 9.64629 6.11591 23.21414 19 7.26334 8.06231 19 5.14166 ID.19742 14.23177 20 5.60441 6.72750 16.36654 19.16076 23.10560 27.39303 20 22.57448 21 10.80385 12.10031 13.55235 15.17863 17.00006 15.66758 17.86104 20.36158 23.2122 26.16192 18.82152 21.64475 21.89146 28.62518 32.91595 27,03355 31.62925 32.32378 7.40025 8.14027 8.94917 9.93357 13.02109 14.71383 16.62663 IN.78809 21.23054 6.10881 6.65860 21 22 26.18640 38.14206 22 37.00623 45.00763 43.29729 53. 10901 23 11.02627 12.23916 13.58546 30.37622 35.23642 40.87424 23 7.25787 8.95430 24 9.84973 10.83471 24 7.91108 50.65783 62.66863 25 25 8.62308 The values in Table 11-1 were generated by the formula FV= (-0 rounded to five decimal places, where i is the interest rate per period and a is the total number of periods.
Transcribed Image Text:23 214- 1/1 TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest) Perlods 1% 2% 3% 4% 5% 6% 7% 8% Perlods 1.05000 1.06000 1.12360 1.00500 1.01000 1.01500 1.02000 1.03000 1.04000 1.07000 LO8000 2 1.01003 1.02010 1.03023 1.04040 L.06090 1.08160 1.10250 1.14490 1.16640 3 1.01508 1.03030 1,04568 1.06121 L.09273 1.12486 1.15763 1.19102 1.22504 L.25971 3 4 1.02015 1.04060 1.06136 1.08243 1.12551 1.16986 1.21551 1.26248 1.31080 1.36049 4 1.02525 1.05101 1.07728 1.10408 1.15927 1.21665 1.27628 1.33823 1.40255 L.46933 1.03038 1.03553 1.06152 L.09344 1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 6. 7 1.07214 1.10984 1.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.71382 1.04071 1.08286 1.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 1.83846 1.96715 6. 1.04591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.99900 9 10 1.05114 1.10462 1.16054 121899 1.34392 1.48024 1.62889 1.79085 2.15892 10 11 1.05640 1.11567 1.17795 1.24337 1.38423 1.53945 1.71034 1.89830 2.10485 2.33164 11 12 1.06168 1.12683 1.19562 1.26824 1.42576 1.60103 1.79586 2.01220 2.25219 2 51817 12 2.71962 1.06699 1.07232 1.21355 1.23176 13 1.13809 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 13 14 1.14947 1.31948 1.51259 1.73168 1.97993 2.26090 2.57853 2.93719 14 15 1.07768 1.16097 1.25023 1.34587 1.55797 1.80094 2.07893 2.39656 2.75903 3.17217 15 16 1.08307 1.17258 1.26899 1.37279 1.60471 1.87298 2.18287 2.54035 2.95216 3.42594 16 2.69277 3.70002 17 1.65285 1.70243 17 1.08849 1.18430 1.28802 1.40024 1.94790 2.29202 3.15882 18 1.09393 L.19615 1.30734 1.42825 2.02582 2.40662 2.85434 3.37993 3.99602 18 19 1.09940 1.20811 1.32695 1.45681 1.75351 2.10685 2.52695 3.02560 3.61653 4.31570 19 20 1.10490 1.22019 1.34686 1.48595 1.80611 2.19112 2.65330 3.20714 3.86968 4.66096 20 1.11042 1.11597 5.03383 5.43654 21 1.23239 1.36706 1.51567 1.86029 2.27877 2.78596 3.39956 4.14056 21 22 1.24472 1.38756 1.54598 1.91610 2.36992 2.92526 3.60354 4.43040 22 23 1.12155 1.25716 1.40838 1.57690 1.97359 2.46472 3.07152 3.81975 4.74053 5.87146 23 5.07237 6.34118 2.03279 2.09378 1.26973 4.04893 24 1.60844 1.64061 24 1.12716 1.42950 2.56330 3.22510 25 1.13280 1.28243 1.45095 2.66584 3.38635 4.29187 5.42743 6.84848 25 Periods 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods 1.14000 1.29960 1.10000 1.13000 1.15000 1.16000 1.17000 L.18000 L11000 1.23210 1.09000 1.12000 1.25440 1.27690 1.32250 1.34560 1.39240 1.36890 1.60161 1.18810 1.21000 3. 1.29503 1.33100 1.36763 1.40493 1.44290 1.48154 1.52088 1.56090 1.64303 3 1 1.46410 1.87389 2.19245 4 1.41158 1.S1807 1.57352 1.63047 1.68896 1.74901 1.81064 1.93878 4. 1.53862 161051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2.28776 2.69955 3.18547 3.75886 4.43545 1.77156 2.08195 2.19497 2.31306 2.43640 2.56516 3.00124 3.51145 4.10840 1.67710 1.87041 1.97382 1.82804 1.94872 2.07616 221068 2.35261 2.50227 2.66002 2.82622 2.65844 2.47596 2.77308 3.10585 2.85259 3.05902 3.27841 3.80296 4,41144 1.99256 2.14359 2.30454 9 2.17189 2.35795 2.55804 3.00404 3.25195 3.51788 9 10 2.36736 2.59374 2.83942 3.39457 3.70722 4.04556 4.80683 5.23384 10 S.62399 6.58007 7.69868 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 5.11726 6.17593 7.28759 5.35025 6.15279 3.89598 4.33452 4.81790 5.93603 12 3.13843 3.45227 3.79750 12 2.81266 3.49845 3.88328 4.36349 4.88711 13 3.06580 4.89801 5.49241 6.88579 8.59936 13 7.98752 9.00745 10.14724 10.53872 1197375 6.26135 7.07571 14 4.31044 4.78459 14 3.34173 5.53475 15 3.64248 4.17725 5.47357 6.25427 7.13794 8.13706 9.26552 15 6.13039 6.86604 7.06733 7.98608 9.35762 10.76126 10.74800 12.16768 14.16251 16.77652 12.33030 14.42616 16.67225 8.13725 9.27646 10.57517 12.05569 11.52309 13.74349 14.12902 16 5.31089 5.89509 16 3.97031 4.59497 17 4.32763 5.05447 17 18 4.71712 5.55992 6.54355 7.68997 9.02427 12.37545 16.87895 19.67325 18 19.74838 861276 9.64629 6.11591 23.21414 19 7.26334 8.06231 19 5.14166 ID.19742 14.23177 20 5.60441 6.72750 16.36654 19.16076 23.10560 27.39303 20 22.57448 21 10.80385 12.10031 13.55235 15.17863 17.00006 15.66758 17.86104 20.36158 23.2122 26.16192 18.82152 21.64475 21.89146 28.62518 32.91595 27,03355 31.62925 32.32378 7.40025 8.14027 8.94917 9.93357 13.02109 14.71383 16.62663 IN.78809 21.23054 6.10881 6.65860 21 22 26.18640 38.14206 22 37.00623 45.00763 43.29729 53. 10901 23 11.02627 12.23916 13.58546 30.37622 35.23642 40.87424 23 7.25787 8.95430 24 9.84973 10.83471 24 7.91108 50.65783 62.66863 25 25 8.62308 The values in Table 11-1 were generated by the formula FV= (-0 rounded to five decimal places, where i is the interest rate per period and a is the total number of periods.
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