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CalculusCalculus: An Applied Approach (MindTap Course List)10th Edition

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Chapter 4, Problem 27RE
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Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919

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Calculus: An Applied Approach (Min...

10th Edition
Ron Larson
ISBN: 9781305860919
Textbook Problem
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Present Value How much should be deposited in an account paying 7% interest compounded quarterly in order to have a balance of $12,000 after 3 years?

To determine

To calculate: The amount that must be deposited in an account in order to get $12,000 after 3 years if 7% interest is compounded quarterly.

Explanation

Given Information:

The amount in the account after 3 years at the interest rate of 7% is $12,000 and interest is compounded quarterly.

Formula used:

The formula to compute the deposited amount is,

P=A(1+rn)nt

Where, P is the deposited amount, A is the amount after t years, r is the interest rate and n is the number of times compounded per year.

Calculation:

Consider that the amount in the account after 3 years at the interest rate of 7% is $12,000 and interest is compounded quarterly.

Here, A=$12,000, r=7% and t=3 years.

The number of times compounded per year is 4 as the interest is compounded quarterly, that is, n=4.

Simplify the rate as,

r=7%=7100=0.07

Substitute 4 for number of times compounded per year, 0

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Sect-4.1 P-1CPSect-4.1 P-2CPSect-4.1 P-3CPSect-4.1 P-4CPSect-4.1 P-5CPSect-4.1 P-1SWUSect-4.1 P-2SWUSect-4.1 P-3SWUSect-4.1 P-4SWUSect-4.1 P-5SWU
Sect-4.1 P-6SWUSect-4.1 P-7SWUSect-4.1 P-8SWUSect-4.1 P-9SWUSect-4.1 P-10SWUSect-4.1 P-11SWUSect-4.1 P-12SWUSect-4.1 P-13SWUSect-4.1 P-14SWUSect-4.1 P-15SWUSect-4.1 P-16SWUSect-4.1 P-17SWUSect-4.1 P-18SWUSect-4.1 P-1ESect-4.1 P-2ESect-4.1 P-3ESect-4.1 P-4ESect-4.1 P-5ESect-4.1 P-6ESect-4.1 P-7ESect-4.1 P-8ESect-4.1 P-9ESect-4.1 P-10ESect-4.1 P-11ESect-4.1 P-12ESect-4.1 P-13ESect-4.1 P-14ESect-4.1 P-15ESect-4.1 P-16ESect-4.1 P-17ESect-4.1 P-18ESect-4.1 P-19ESect-4.1 P-20ESect-4.1 P-21ESect-4.1 P-22ESect-4.1 P-23ESect-4.1 P-24ESect-4.1 P-25ESect-4.1 P-26ESect-4.1 P-27ESect-4.2 P-1CPSect-4.2 P-2CPSect-4.2 P-3CPSect-4.2 P-4CPSect-4.2 P-5CPSect-4.2 P-1SWUSect-4.2 P-2SWUSect-4.2 P-3SWUSect-4.2 P-4SWUSect-4.2 P-5SWUSect-4.2 P-6SWUSect-4.2 P-7SWUSect-4.2 P-8SWUSect-4.2 P-9SWUSect-4.2 P-10SWUSect-4.2 P-11SWUSect-4.2 P-12SWUSect-4.2 P-1ESect-4.2 P-2ESect-4.2 P-3ESect-4.2 P-4ESect-4.2 P-5ESect-4.2 P-6ESect-4.2 P-7ESect-4.2 P-8ESect-4.2 P-9ESect-4.2 P-10ESect-4.2 P-11ESect-4.2 P-12ESect-4.2 P-13ESect-4.2 P-14ESect-4.2 P-15ESect-4.2 P-16ESect-4.2 P-17ESect-4.2 P-18ESect-4.2 P-19ESect-4.2 P-20ESect-4.2 P-21ESect-4.2 P-22ESect-4.2 P-23ESect-4.2 P-24ESect-4.2 P-25ESect-4.2 P-26ESect-4.2 P-27ESect-4.2 P-28ESect-4.2 P-29ESect-4.2 P-30ESect-4.2 P-31ESect-4.2 P-32ESect-4.2 P-33ESect-4.2 P-34ESect-4.2 P-35ESect-4.2 P-36ESect-4.2 P-37ESect-4.2 P-38ESect-4.2 P-39ESect-4.2 P-40ESect-4.2 P-41ESect-4.2 P-42ESect-4.2 P-43ESect-4.2 P-44ESect-4.2 P-45ESect-4.2 P-46ESect-4.2 P-47ESect-4.2 P-48ESect-4.2 P-49ESect-4.2 P-50ESect-4.2 P-51ESect-4.3 P-1CPSect-4.3 P-2CPSect-4.3 P-3CPSect-4.3 P-4CPSect-4.3 P-5CPSect-4.3 P-6CPSect-4.3 P-1SWUSect-4.3 P-2SWUSect-4.3 P-3SWUSect-4.3 P-4SWUSect-4.3 P-5SWUSect-4.3 P-6SWUSect-4.3 P-7SWUSect-4.3 P-8SWUSect-4.3 P-9SWUSect-4.3 P-10SWUSect-4.3 P-1ESect-4.3 P-2ESect-4.3 P-3ESect-4.3 P-4ESect-4.3 P-5ESect-4.3 P-6ESect-4.3 P-7ESect-4.3 P-8ESect-4.3 P-9ESect-4.3 P-10ESect-4.3 P-11ESect-4.3 P-12ESect-4.3 P-13ESect-4.3 P-14ESect-4.3 P-15ESect-4.3 P-16ESect-4.3 P-17ESect-4.3 P-18ESect-4.3 P-19ESect-4.3 P-20ESect-4.3 P-21ESect-4.3 P-22ESect-4.3 P-23ESect-4.3 P-24ESect-4.3 P-25ESect-4.3 P-26ESect-4.3 P-27ESect-4.3 P-28ESect-4.3 P-29ESect-4.3 P-30ESect-4.3 P-31ESect-4.3 P-32ESect-4.3 P-33ESect-4.3 P-34ESect-4.3 P-35ESect-4.3 P-36ESect-4.3 P-37ESect-4.3 P-38ESect-4.3 P-39ESect-4.3 P-40ESect-4.3 P-41ESect-4.3 P-42ESect-4.3 P-43ESect-4.3 P-44ESect-4.3 P-45ESect-4.3 P-46ESect-4.3 P-47ESect-4.3 P-48ESect-4.3 P-49ESect-4.3 P-50ESect-4.3 P-51ESect-4.3 P-52ESect-4.3 P-53ESect-4.3 P-1QYSect-4.3 P-2QYSect-4.3 P-3QYSect-4.3 P-4QYSect-4.3 P-5QYSect-4.3 P-6QYSect-4.3 P-7QYSect-4.3 P-8QYSect-4.3 P-9QYSect-4.3 P-10QYSect-4.3 P-11QYSect-4.3 P-12QYSect-4.3 P-13QYSect-4.3 P-14QYSect-4.3 P-15QYSect-4.3 P-16QYSect-4.3 P-17QYSect-4.3 P-18QYSect-4.3 P-19QYSect-4.3 P-20QYSect-4.3 P-21QYSect-4.3 P-22QYSect-4.3 P-23QYSect-4.3 P-24QYSect-4.3 P-25QYSect-4.4 P-1CPSect-4.4 P-2CPSect-4.4 P-3CPSect-4.4 P-4CPSect-4.4 P-5CPSect-4.4 P-6CPSect-4.4 P-7CPSect-4.4 P-1SWUSect-4.4 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P-63ESect-4.4 P-64ESect-4.4 P-65ESect-4.4 P-66ESect-4.4 P-67ESect-4.4 P-68ESect-4.4 P-69ESect-4.4 P-70ESect-4.4 P-71ESect-4.4 P-72ESect-4.4 P-73ESect-4.4 P-74ESect-4.4 P-75ESect-4.4 P-76ESect-4.4 P-77ESect-4.4 P-78ESect-4.4 P-79ESect-4.4 P-80ESect-4.4 P-81ESect-4.4 P-82ESect-4.4 P-83ESect-4.4 P-84ESect-4.4 P-85ESect-4.4 P-86ESect-4.4 P-87ESect-4.4 P-88ESect-4.4 P-89ESect-4.4 P-90ESect-4.4 P-91ESect-4.4 P-92ESect-4.4 P-93ESect-4.4 P-94ESect-4.4 P-95ESect-4.4 P-96ESect-4.4 P-97ESect-4.4 P-98ESect-4.5 P-1CPSect-4.5 P-2CPSect-4.5 P-3CPSect-4.5 P-4CPSect-4.5 P-5CPSect-4.5 P-6CPSect-4.5 P-7CPSect-4.5 P-8CPSect-4.5 P-9CPSect-4.5 P-10CPSect-4.5 P-1SWUSect-4.5 P-2SWUSect-4.5 P-3SWUSect-4.5 P-4SWUSect-4.5 P-5SWUSect-4.5 P-6SWUSect-4.5 P-7SWUSect-4.5 P-8SWUSect-4.5 P-9SWUSect-4.5 P-10SWUSect-4.5 P-1ESect-4.5 P-2ESect-4.5 P-3ESect-4.5 P-4ESect-4.5 P-5ESect-4.5 P-6ESect-4.5 P-7ESect-4.5 P-8ESect-4.5 P-9ESect-4.5 P-10ESect-4.5 P-11ESect-4.5 P-12ESect-4.5 P-13ESect-4.5 P-14ESect-4.5 P-15ESect-4.5 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P-4CPSect-4.6 P-1SWUSect-4.6 P-2SWUSect-4.6 P-3SWUSect-4.6 P-4SWUSect-4.6 P-5SWUSect-4.6 P-6SWUSect-4.6 P-7SWUSect-4.6 P-8SWUSect-4.6 P-9SWUSect-4.6 P-10SWUSect-4.6 P-11SWUSect-4.6 P-12SWUSect-4.6 P-1ESect-4.6 P-2ESect-4.6 P-3ESect-4.6 P-4ESect-4.6 P-5ESect-4.6 P-6ESect-4.6 P-7ESect-4.6 P-8ESect-4.6 P-9ESect-4.6 P-10ESect-4.6 P-11ESect-4.6 P-12ESect-4.6 P-13ESect-4.6 P-14ESect-4.6 P-15ESect-4.6 P-16ESect-4.6 P-17ESect-4.6 P-18ESect-4.6 P-19ESect-4.6 P-20ESect-4.6 P-21ESect-4.6 P-22ESect-4.6 P-23ESect-4.6 P-24ESect-4.6 P-25ESect-4.6 P-26ESect-4.6 P-27ESect-4.6 P-28ESect-4.6 P-29ESect-4.6 P-30ESect-4.6 P-31ESect-4.6 P-32ESect-4.6 P-33ESect-4.6 P-34ESect-4.6 P-35ESect-4.6 P-36ESect-4.6 P-37ESect-4.6 P-38ESect-4.6 P-39ESect-4.6 P-40ESect-4.6 P-41ESect-4.6 P-42ESect-4.6 P-43ESect-4.6 P-44ESect-4.6 P-45ESect-4.6 P-46ECh-4 P-1RECh-4 P-2RECh-4 P-3RECh-4 P-4RECh-4 P-5RECh-4 P-6RECh-4 P-7RECh-4 P-8RECh-4 P-9RECh-4 P-10RECh-4 P-11RECh-4 P-12RECh-4 P-13RECh-4 P-14RECh-4 P-15RECh-4 P-16RECh-4 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Finite Mathematics for the Managerial, Life, and Social Sciences

The central angle corresponding to a circular brake shoe measures 60. Approximately how long is the curved surf...

Elementary Geometry for College Students

Converting to Polar CoordinatesIn Exercises 25 and 26, evaluate the iterated integral by converting to polar co...

Calculus

A definite integral for the length of y = x3, 1 x 2 is a) 121+x3dx b) 121+x6dx c) 121+9x4dx d) 121+3x2dx

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Estimating Slope In Exercises 5 and 6, estimate the slope of the graph at the points (x1,y1) and (x2,y2)

Calculus (MindTap Course List)

Evaluating a Line Integral in Differential Form Exercises 41 and 42, evaluate C(yx)dx+(2x+5y)dy. C:arcony=xfrom...

Multivariable Calculus

It does not exist.

Study Guide for Stewart's Multivariable Calculus, 8th

Express each area as indicated. Round each answer to the same number of significant digits as in the original q...

Mathematics For Machine Technology

The authors of the paper Influence of Biofeedback Weight Bearing Training in Sit to Stand to Sit and the Limits...

Introduction To Statistics And Data Analysis

Explain the distinction between naturalistic observation and participant observation, and describe the situatio...

Research Methods for the Behavioral Sciences (MindTap Course List)

The following data were collected by counting the number of operating rooms in use atTampa General Hospital ove...

STATISTICS F/BUSINESS+ECONOMICS-TEXT

Define plagiarism and explain the techniques that can be used to help avoid unintentional plagiarism.

Research Methods for the Behavioral Sciences (MindTap Course List)

The accounting department analyzes the variance of the weekly unit costs reported by two production departments...

Statistics for Business & Economics, Revised (MindTap Course List)

In Exercises 1-8, perform the given computation, working solely in the given base. C116516

Mathematics: A Practical Odyssey

Find a polynomial function P(x) with the given zeros. There is no unique answer for P(x). 3,5

College Algebra (MindTap Course List)

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