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i think you could ise this method An initial investment of $3,000 earns 6% interest compounded...
An initial investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $ Need Help? Read Watch It Talk to a Tutor
17. [O/1 Points] DETAILS PREVIOUS ANSWERS An initial investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $ 10709.92 Need Help? Read Watch Talk te Tutor
An account is opened with an initial deposit of $3,000 and earns 4.1% interest compounded quarterly. What will the account be worth in 2 years?
2. A retirement account is opened with an initial deposit of $6,500 and earns 9.16% interest compounded monthly. What will the account be worth in 45 years? (Round your answer to the nearest cent.)
An investment of $3200 earns interest at 4.5% per annum compounded semi-annually for three years. At that time the interest rate is changed to 4.9% compounded monthly. How much will the accumulated value be one-and-a-half years after the change? The accumulated value is $] (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Consider an investment where $49,000 is invested for 15 years at 8% compounded continuously. How much will this investment be worth after 15 years? (Round your answer to the nearest cent.) What is the total amount earned in compound interest? (Round your answer to the nearest cent.)
1 of 15 (0 complete) An investment of $3300 earns interest at 6.6% per annum compounded annually for four years. At that time the interest rate is changed to 7% compounded semi-annually. How much will the accumulated value be three-and-a-half years after the change? The accumulated value is $. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) ndal
Suppose we have an investment that earns interest compounded continuously, and it takes 12 years for an initial investment of $20,000 to grow to $60,000 under this investment. How long does it take for the same initial investment of $20,000 to grow to $80,000? (“ln” below denotes natural log with base “e”)
Recently, a certain bank offered a 10-year CD that earns 13.4% compounded continuously. Use the given information to answer the questions. (a) If $40,000 is invested in this CD, how much will it be worth in 10 years? approximately $ (Round to the nearest cent.) (b) How long will it take for the account to be worth $60,000? approximately years (Round to two decimal places as needed.)
Calculate compound interest Question An account is opened with an initial deposit of $5,500 and earns 2.5% interest compounded annually. What will the account be worth in 10 years? Round your answer to the nearest dollar. Provide your answer below: