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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 nearest cent and percents to the nearest hundredth of a percent) Marcus invests $7,750, at 6% interest, compounded annually for 12 years. Calculate the compound Interest for his investment. O $5,580.00 O $7,844.55 O $13,330.00 O $15,594.55

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 nearest cent and percents to the nearest hundredth of a percent) Marcus invests $7,750, at 6% interest, compounded annually for 12 years. Calculate the compound Interest for his investment. O $5,580.00 O $7,844.55 O $13,330.00 O $15,594.55

Intermediate Algebra
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 25PS
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ints] DETAILS Solve the following problem using elther 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) Marcus invests $7,750, at 6% Interest, compounded annually for 12 years. Calculate the compound Interest for his investment. O $5,580.00 O $7,844.55 O $13,330.00 O $15,594.55
Transcribed Image Text:ints] DETAILS Solve the following problem using elther 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) Marcus invests $7,750, at 6% Interest, compounded annually for 12 years. Calculate the compound Interest for his investment. O $5,580.00 O $7,844.55 O $13,330.00 O $15,594.55
TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest) Perlods 1% 1% 2% 3% 4% 5% 6% 7% 8% Perlods 1.00500 1.01000 1.01500 1.02000 1.03000 1.04000 1.05000 1.06000 1.07000 1.08000 2 1.01003 1.02010 1.03023 1.04040 1.06090 1.08160 1.10250 1.12360 1.14490 1.16640 1.01508 1.03030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 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 1.46933 5n 6. 1.03038 1.06152 1.09344 1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 9. 7. 1.03553 1.07214 1.10984 1.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.71382 8. 1.04071 1.08286 L.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 1.04591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.83846 1.99900 10 1.05114 1.10462 1.16054 121899 1.34392 1.48024 1.62889 1.79085 1.96715 2.15892 10 1.24337 1.26824 11 1.05640 I.11567 1.17795 1.38423 1.71034 1.79586 1.53945 1.89830 2.10485 2.33164 11 1.12683 1.13809 1.19562 1.21355 12 1.06168 1.42576 1.60103 2.01220 2.25219 2.51817 12 13 1.06699 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 13 14 1.07232 1.14947 1.23176 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 17 1.08849 1.18430 1.28802 1.40024 1.42825 1.65285 1.94790 2.29202 2.69277 3.15882 3.70002 17 18 1.09393 1.19615 1.30734 1.70243 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 21 1.11042 1.23239 1.36706 1.51567 3.39956 4.14056 5.03383 21 1.86029 1.91610 2.27877 2.78596 22 1.11597 1.24472 1.38756 154598 2.36992 2.92526 3.60354 4.43040 5.43654 22 23 1.12155 1.25716 1.57690 1.60844 1.40838 1.97359 2.46472 3.07152 3.81975 4.74053 5.87146 23 24 1.12716 1.26973 2.03279 4.04893 5.07237 5.42743 1.42950 2.56330 3.22510 6.34118 24 25 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 6.84848 25 Periods 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods L18000 1.09000 1.18810 1.10000 1.11000 1.12000 1.13000 1.14000 L.15000 1.16000 1.17000 2 1.21000 1.23210 1.25440 1.27690 1.29960 1.32250 1.34560 1.36890 1.39240 1.29503 1.33100 1,48154 3. 36763 1.51807 1.40493 1.44290 1.52088 1.56090 1.60161 1.64303 4. 1.41158 1.46410 157352 1.63047 1.68896 1.74901 1.81064 L.87389 1.93878 4. 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2.19245 2.28776 5. 1.67710 1.77156 1.87041 1.97382 2.08195 2.19497 2.31306 2.43640 2.56516 2.69955 6. 1.82804 1.94872 2.07616 2.21068 2.35261 2.50227 2.66002 2.82622 3.00124 3. I8547 7. 8. 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 3.27841 3.51145 3.75886 2.17189 2.35795 2.55804 2.77308 3.00404 3.25195 3.51788 3,80296 4.10840 4.43545 10 2.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 4.41144 4.80683 5.23384 10 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 -5.11726 5.62399 6.17593 4.33452 4.81790 5.49241 12 2.81266 3.13843 3.49845 3.89598 5.35025 5.93603 6.58007 7.28759 12 13 3.06580 3.45227 3.88328 4.36349 4.89801 6.15279 6.88579 7.69868 8.59936 13 4.88714 5.47357 14 3.34173 3.79750 4.31044 5.53475 6.26135 7.07571 7.98752 9.00745 10.14724 14 15 3.64248 4.17725 4.78459 6.25427 7.13794 8.13706 9.26552 10.53872 11.97375 15 4.59497 5.05447 6.13039 6.86604 5.31089 7.06733 8.13725 9.35762 10.74800 12.33030 14.12902 16 3.97031 4.32763 16 17 5.89509 7.98608 9.27646 10.76126 12.46768 14.42646 16.67225 17 9.02427 10.19742 11.52309 18 4.71712 5.55992 6.54355 7.68997 10.57317 12.37545 14.46251 16.87895 19.67325 18 19 5.14166 6.11591 7.26334 861276 12.05569 14.23177 16.77652 19.74838 23.21444 19 20 5,60441 6.72750 8.06231 9.64629 13.74349 16.36654 19.46076 23.10560 27.39303 20 18.82152 22.57448 27.03355 31.62925 32.32378 21 6.1088I 6.65860 21 7.40025 8.94917 10.80385 13.02109 15.66758 17.86104 26.18640 8.14027 8.95430 22 9.93357 12.10031 14.71383 21.64475 38.14206 22 16.62663 20.36158 23.21221 24.89146 28.62518 11.02627 30.37622 37.00623 45.00763 23 23 24 7.25787 7.911O8 13.55235 15.17863 17.00006 9.84973 12.23916 18.78809 35.23642 43.29729 53.10901 24 25 K.628 10.83471 13.58546 21.23054 26.46192 32.91895 40.87424 50.65783 62.66863 25 The values in Table 11-1 were generated by the formula FV (1-0 rounded to five decimal places, where i is the interest rate per period and is the total number of periods MacBook Ail 吕口 F3 D00 O00 F4 F6 F7 F8 F9 F10 F5 8.
Transcribed Image Text:TABLE 11-1 Compound Interest Table (Future Value of $1 at Compound Interest) Perlods 1% 1% 2% 3% 4% 5% 6% 7% 8% Perlods 1.00500 1.01000 1.01500 1.02000 1.03000 1.04000 1.05000 1.06000 1.07000 1.08000 2 1.01003 1.02010 1.03023 1.04040 1.06090 1.08160 1.10250 1.12360 1.14490 1.16640 1.01508 1.03030 1.04568 1.06121 1.09273 1.12486 1.15763 1.19102 1.22504 1.25971 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 1.46933 5n 6. 1.03038 1.06152 1.09344 1.12616 1.19405 1.26532 1.34010 1.41852 1.50073 1.58687 9. 7. 1.03553 1.07214 1.10984 1.14869 1.22987 1.31593 1.40710 1.50363 1.60578 1.71382 8. 1.04071 1.08286 L.12649 1.17166 1.26677 1.36857 1.47746 1.59385 1.71819 1.85093 1.04591 1.09369 1.14339 1.19509 1.30477 1.42331 1.55133 1.68948 1.83846 1.99900 10 1.05114 1.10462 1.16054 121899 1.34392 1.48024 1.62889 1.79085 1.96715 2.15892 10 1.24337 1.26824 11 1.05640 I.11567 1.17795 1.38423 1.71034 1.79586 1.53945 1.89830 2.10485 2.33164 11 1.12683 1.13809 1.19562 1.21355 12 1.06168 1.42576 1.60103 2.01220 2.25219 2.51817 12 13 1.06699 1.29361 1.46853 1.66507 1.88565 2.13293 2.40985 2.71962 13 14 1.07232 1.14947 1.23176 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 17 1.08849 1.18430 1.28802 1.40024 1.42825 1.65285 1.94790 2.29202 2.69277 3.15882 3.70002 17 18 1.09393 1.19615 1.30734 1.70243 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 21 1.11042 1.23239 1.36706 1.51567 3.39956 4.14056 5.03383 21 1.86029 1.91610 2.27877 2.78596 22 1.11597 1.24472 1.38756 154598 2.36992 2.92526 3.60354 4.43040 5.43654 22 23 1.12155 1.25716 1.57690 1.60844 1.40838 1.97359 2.46472 3.07152 3.81975 4.74053 5.87146 23 24 1.12716 1.26973 2.03279 4.04893 5.07237 5.42743 1.42950 2.56330 3.22510 6.34118 24 25 1.13280 1.28243 1.45095 1.64061 2.09378 2.66584 3.38635 4.29187 6.84848 25 Periods 9% 10% 11% 12% 13% 14% 15% 16% 17% 18% Periods L18000 1.09000 1.18810 1.10000 1.11000 1.12000 1.13000 1.14000 L.15000 1.16000 1.17000 2 1.21000 1.23210 1.25440 1.27690 1.29960 1.32250 1.34560 1.36890 1.39240 1.29503 1.33100 1,48154 3. 36763 1.51807 1.40493 1.44290 1.52088 1.56090 1.60161 1.64303 4. 1.41158 1.46410 157352 1.63047 1.68896 1.74901 1.81064 L.87389 1.93878 4. 1.53862 1.61051 1.68506 1.76234 1.84244 1.92541 2.01136 2.10034 2.19245 2.28776 5. 1.67710 1.77156 1.87041 1.97382 2.08195 2.19497 2.31306 2.43640 2.56516 2.69955 6. 1.82804 1.94872 2.07616 2.21068 2.35261 2.50227 2.66002 2.82622 3.00124 3. I8547 7. 8. 1.99256 2.14359 2.30454 2.47596 2.65844 2.85259 3.05902 3.27841 3.51145 3.75886 2.17189 2.35795 2.55804 2.77308 3.00404 3.25195 3.51788 3,80296 4.10840 4.43545 10 2.36736 2.59374 2.83942 3.10585 3.39457 3.70722 4.04556 4.41144 4.80683 5.23384 10 11 2.58043 2.85312 3.15176 3.47855 3.83586 4.22623 4.65239 -5.11726 5.62399 6.17593 4.33452 4.81790 5.49241 12 2.81266 3.13843 3.49845 3.89598 5.35025 5.93603 6.58007 7.28759 12 13 3.06580 3.45227 3.88328 4.36349 4.89801 6.15279 6.88579 7.69868 8.59936 13 4.88714 5.47357 14 3.34173 3.79750 4.31044 5.53475 6.26135 7.07571 7.98752 9.00745 10.14724 14 15 3.64248 4.17725 4.78459 6.25427 7.13794 8.13706 9.26552 10.53872 11.97375 15 4.59497 5.05447 6.13039 6.86604 5.31089 7.06733 8.13725 9.35762 10.74800 12.33030 14.12902 16 3.97031 4.32763 16 17 5.89509 7.98608 9.27646 10.76126 12.46768 14.42646 16.67225 17 9.02427 10.19742 11.52309 18 4.71712 5.55992 6.54355 7.68997 10.57317 12.37545 14.46251 16.87895 19.67325 18 19 5.14166 6.11591 7.26334 861276 12.05569 14.23177 16.77652 19.74838 23.21444 19 20 5,60441 6.72750 8.06231 9.64629 13.74349 16.36654 19.46076 23.10560 27.39303 20 18.82152 22.57448 27.03355 31.62925 32.32378 21 6.1088I 6.65860 21 7.40025 8.94917 10.80385 13.02109 15.66758 17.86104 26.18640 8.14027 8.95430 22 9.93357 12.10031 14.71383 21.64475 38.14206 22 16.62663 20.36158 23.21221 24.89146 28.62518 11.02627 30.37622 37.00623 45.00763 23 23 24 7.25787 7.911O8 13.55235 15.17863 17.00006 9.84973 12.23916 18.78809 35.23642 43.29729 53.10901 24 25 K.628 10.83471 13.58546 21.23054 26.46192 32.91895 40.87424 50.65783 62.66863 25 The values in Table 11-1 were generated by the formula FV (1-0 rounded to five decimal places, where i is the interest rate per period and is the total number of periods MacBook Ail 吕口 F3 D00 O00 F4 F6 F7 F8 F9 F10 F5 8.
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