Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. using the formulas given in class for continuous a

Using the formulas given in class for continuous and compound interest, show your calculated values for...

60.1K

Verified Solution

Question

Basic Math

Using the formulas given in class for continuous and compoundinterest, show your calculated values for each investmentbelow.

A) Placing $875 in an account giving 13.5% APR compounded dailyfor 2 years:

B) Placing $1000 in an account given 6.7% APR compoundedcontinuously for 2 years:

C) Placing $1050 in an account giving 4.5% APR compoundedmonthly for 2 years:

D) RANK them in order from best (i.e. yielding the mostinterest) to worst (hint: compare either $ or % gain (APR)):

Answer & Explanation Solved by verified expert
4.0 Ratings (698 Votes)
equation to find value of investment in compounded investmentwith n compounding per year ishere P is amount invested r is rate of    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

Psychology
1.2K views

The role of consequences in classical and operant conditioning?

Economics
1.2K views

Smelling of Tulips, Inc., a perfume company, estimated its short-run costs using a U-shaped average variable cost...

General Management
1.2K views

On November 1, 2013 John Adams, a customer service representative of Americo Drilling Supplies (ADS), was...

Biology
1.2K views

a identify one depositional environment on the figure in which it might form b identify...

Basic Math
1.2K views

Solve the following quadratic equation by using the quadratic formula If needed submit your answer...

Accounting
1.2K views

1. Identify two familiar companies. List the following data for each company and explain the...

Accounting
1.2K views

PLEASE READ CAREFULLY BEFORE STARTING THE ASSIGNMENT!!! I ALREADY HAVE ANSWERS FOR THE FIRST JOURNAL...

Accounting
1.2K views

Current Attempt in Progress Sheridan Corporation had the following shareholders' equity on December 31,2022:...

Accounting
1.2K views

Analytics Corporation was organized on January 1, current year. At the end of the current...

Accounting
1.2K views

Healy Corporation registr ingresos por servicios de $200 000 en 2014, de los cuales $80...

Accounting
1.2K views

What is the major distinction between a static budget and a flexible budget? What are...

Accounting
1.2K views

Kabirs pet boutique sells homage made pet treats and other pet supplies. Kabir sells personalized...