Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $130,000 after 7 years invested in an account with 5% interest compounded quarterly.

Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $130,000 after 7 years invested in an account with 5% interest compounded quarterly.

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.2: Exponential Functions

Problem 49E

See similar textbooks

Related questions

Q: A grandparent puts $4,000 into a college education fund for a grandchild. If the fund earns 2.75%…

A: total amount = P(1+r/100)n here r = 2.75/365 = 0.007534 n = 365*18 = 6570 total amount = 4000(1+…

Q: Use the present value formula to determine the amount to be invested now, or the present value…

A: Answer: Compound intrest formula is given by A=P(1+rn)nt Where A- Future Value P= present value…

Q: You invest $500 into an account that collects 1% interest each month. If you add an addi- tional $50…

A: Solution: If you invest $ 500 in an account you will collect at the end the monthly rate of interest…

Q: Find the present value that will grow to $26,000 if interest is 4% compounded quarterly for 13…

A: Given query is to find future value of $ 26000 with interest 4% compounded quarterly.

Q: To find the amount A in an account after t years with principal P and an annual interest rate r (in…

A: Given: To find the amount A in an account after t years with principal P and an annual interest rate…

Q: Use the formula for present value of money to calculate the amount you need to invest now in one…

A: From the given information. The amount (A) is $1000000. Time period is 40 years. Annual rate of…

Q: Find the final amount of money in an account if $1, 300 is deposited at 4 % interest compounded…

A: When the interest is compounded, then the formula used is , where, A is the final amount, P is the…

Q: Use the compound interest formula to compute the total amount accumulated and the interest earned.…

A: Given that,Principal amount = $3000Rate = 6%Time = 2 years

Q: Assume that a savings account earns interest at a rate of 3% compounded quarterly. If this account…

Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

A: Solution of question as follows

Q: Use the present value formula to determine the amount to be invested now, or the present value…

A: We have to find the present value

Q: At age 30, to save for retirement, you decide to deposit $100 at the end of each month into an IRA…

Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

A: Given query is to find the amount after indicated time.

Q: compounded

Q: Use the compound interest formula to complete the total amount accumulated and the interest earned…

A: Given,

Q: Use the formula for present value of money to calculate the amount you need to invest now in one…

Q: Use the compound-interest formula to find the account balance A, where P is principal, r is interest…

Q: Use the formula for present value of money to calculate the amount you need to invest now in one…

A: Given data, Final amount (A) = $ 1,000,000 Time period (t) = 40 years Annual percentage rate(r) =…

Q: Use the compound interest formula to determine the accumulated balance after the stated period $2000…

Q: Use the compound interest formula to compute the total amount accumulated and the interest earned.…

Q: Use the present value formula to determine the amount to be invested now, or the present value…

Q: How much would you need to deposit in an account now in order to have $5000 in the account in 5…

A: Given, A = Accrued amount = $5000 r = Interest rate = 0.02 n = number of months = 5 t = time…

Q: Find the final amount of money in an account if $1, 000 is deposited at 3 % interest compounded…

Q: Find the interest earned: $7,500 for 15 years at 10% annual compound interest

Q: Use the compound interest formula to compute the total amount accumulated and the interest earned.…

Q: the appropriate compound interest formula to compute the balance in the account after the stated…

Q: Use the annual compound interest formula to complete this problem. If you invest 14000 in an account…

Q: Use the compound interest formula to complete the total amount accumulated and the interest earned…

Q: Use the present value formula to determine the amount to be invested now or the present value…

A: The present value formula to determine the amount to be invested now or the present value needed…

Q: Find the present value that will grow to $2,000 if the annual interest rate is 8.5% compounded…

A: To find the present value which will grow to $2000, with the annual interest rate is 8.5% compounded…

Q: Find the final amount of money in an account if $1, 900 is deposited at 2 % interest compounded…

Q: Use the present value formula to determine the amount to be invested now, or the present value…

Q: Find the amount at the end of 5 years and 6 months if P8,000 is invested at 29% compounded…

Q: Use the present value formula to determine the amount to be invested now, or the present value…

A: Present value formula: P= F / [1+(r/c)]ct Where P= present value F= future value…

Q: Find the final amount of money in an account if $5, 700 is deposited at 2 % interest compounded…

A: Given: Principal amount P=5700 rate of interest r=2% =0.02 per 3 months As interest is…

Q: Use the present value formula to determine the amount to be invested now, or the present value…

A: Given information:Accumulated amount (A)= $120,000Rate of interest (r) = 4% = 0.04Number of years…

Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

Q: Use the present value formula to determine the amount to be invested now, or the present value…

Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

Q: Find the present value that will grow to $23,000 if interest is 8% compounded quarterly for 17…

Q: Find the final amount of money in an account if $4, 900 is deposited at 6 % interest compounded…

A: Use the formula for the compound interest to calculate the final amount P. P=$4900r=6%=0.06n=4…

Q: What is the balance in a college fund after 20 years if $5000 was invested at 5% nt compounded…

A: The principle invested is P=$5000. The time period is 20 years. The rate of interest is 5% and it is…

Q: determine the accumulated balance after the stated period. $6000 invested at an APR of 7% for 8…

Q: Use the compound interest formula to determine the accumulated balance after the stated period.…

A: the compound interest formula is given by

Q: Use the given information to find the amount A in the account earning compound interest after 6…

A: We will find the solution in the following step

Q: A credit union pays 6.8% annual interest compounded daily. What deposit today (present value)…

A: Consider P is principal, r is rate of interest compounded n times a year and t is time for the…

Question

Use the present value formula to determine the amount to be invested now, or the present value needed.

The desired accumulated amount is

$130,000

after

years invested in an account with

interest compounded

quarterly.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Use the present value formula to determine the amount to be invested​ now, or the present value needed. The desired accumulated amount is ​$130,000 after 7 years invested in an account with 5​% interest compounded quarterly.

Use the present value formula to determine the amount to be invested now, or the present value needed. The desired accumulated amount is $130,000 after 7 years invested in an account with 5% interest compounded quarterly.