This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The principal represents an amount of money deposited in a savings account subject to compound ... (Read 89 times)

ssal

  • Hero Member
  • *****
  • Posts: 572
on: Feb 2, 2020

Question 1

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.  Find how much money will be in the account after the given number of years (Assume 360 days in a year.), and how much interest was earned.

A = PntP = A = PertY = n - 1

Principal: $8000
Rate: 4%
Compounded: semiannually
Time: 5 years
◦ amount in account: $8832.65; interest earned: $832.65
◦ amount in account: $11,841.95; interest earned: $3841.95
◦ amount in account: $9733.22; interest earned: $1733.22
◦ amount in account: $9751.96; interest earned: $1751.96

Question 2

The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate.  Find how much money will be in the account after the given number of years (Assume 360 days in a year.), and how much interest was earned.

A = PntP = A = PertY = n - 1

Principal: $8000
Rate: 6%
Compounded: quarterly
Time: 3 years
◦ amount in account: $9564.95; interest earned: $1564.95
◦ amount in account: $8365.43; interest earned: $365.43
◦ amount in account: $16,097.57; interest earned: $8097.57
◦ amount in account: $11,348.15; interest earned: $3348.15
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by ssal on Feb 2, 2020

ergserg

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Feb 2, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly


ssal

  • Member
  • Posts: 572
Reply 2 on: Feb 2, 2020
Thanks for the timely response, appreciate it

kswal303

  • Member
  • Posts: 316
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

The actions of Frzb and the Frizzled receptor protein show how embryonic development represents a ba The actions of Frzb and the Frizzled receptor protein show how embryonic development represents a ba
Wasp ocelli (simple eyes) and dorsal part of the compound eyes; also showing fine, unbranched hairs Wasp ocelli (simple eyes) and dorsal part of the compound eyes; also showing fine, unbranched hairs
Telomere length is related to the amount of time adults spend in leisure time activity. Source: Ada Telomere length is related to the amount of time adults spend in leisure time activity. Source: Ada
Inline four-cylinder engine showing principal and nonprincipal ends. Normal direction of rotation is ... Inline four-cylinder engine showing principal and nonprincipal ends. Normal direction of rotation is ...
a solution is prepared in which a trace or small amount of Fe2+ is added to a much larger ... a solution is prepared in which a trace or small amount of Fe2+ is added to a much larger ...
Simple and Compound Leaves Simple and Compound Leaves
Video: Causes of Angina

For a complete list of videos, visit our video library