Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. advance math
  3. 1. you deposit $4000 in an account earning 5% inte

1. You deposit $4000 in an account earning 5% interest compounded monthly. How much will you...

70.2K

Verified Solution

Question

Advance Math

1. You deposit $4000 in an account earning 5% interestcompounded monthly. How much will you have in the account in 5years?

2. Find the time required for an investment of 5000 dollars togrow to 6500 dollars at an interest rate of 7.5 percent per year,compounded quarterly.
Round your answer to two decimal places
Your answer is t=____ years.

3. You deposit $2000 in an account earning 5% interestcompounded monthly. How much will you have in the account in 15years?

Answer & Explanation Solved by verified expert
3.7 Ratings (649 Votes)
A the final value of the investmentloanincluding interestP the principal investment amount theinitial    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Ms. Smith wants to invest in two securities, ABC and PQR, and the relevant information is...

Medical Sciences
1.2K views

Subject: Anthropology there is no option of this subject above. 1) Which characteristics were present in the...

Biology
1.2K views

Which of the following would most likely result in a bottleneck event 1 A small...

Biology
1.2K views

A particular triplet of bases in the template strand of DNA is 5 AGT 3...

Basic Math
1.2K views

A container has a volume of 4331 feet cubed How long is side of the...

Calculus
1.2K views

6 2 Evaluate So Sex y 2 dydx Hint you may have to change the...

Algebra
1.2K views

Put the expressions in the appropriate order log 8 log3 8 log 8 O O...

Accounting
1.2K views

Stacey qualifies for the Used Clean Vehicle Credit. She purchased a used clean vehicle for...

Accounting
1.2K views

2 Witt Corp. has outstanding at December 31, 1996, two long-term borrowings with annual sinking...

Accounting
1.2K views

Give some examples. What types of reports are considered financial accounting and what types of...

Accounting
1.2K views

A business borrowed $74,756 on March 1 of the current year by signing a 30...

Finance
1.2K views

Short-term investment returns: money market instruments Part of your responsibilities as a junior financial analyst...