Question
In: Finance
$1770 is deposited today into an account earning a force of interest of 0.03. How long...
$1770 is deposited today into an account earning a force of interest of 0.03. How long will it take for the account to reach $2770 if time t is measured in years?
Solutions
jeff jeffy answered 2 years agoRelated Solutions
a. Suppose you deposited $2,000 in a savings account earning 3.6% interest compounding daily. How long...
a. Suppose you deposited $2,000 in a savings account earning
3.6% interest compounding daily. How long will it take for the
balance to grow to $8,000? Answer in years rounded to two decimal
places. (e.g., 2.4315 years --> 2.43)
b.You plan to deposit $2,000 today, $4,000 in one year and
$2,000 in two years into an account earning 5.1% interest. What
will the account balance be in 4 years? Round to the nearest
cent.
Suppose you deposited $10,000 in a savings account earning 3.9% interest compounding daily. How long will...
Suppose you deposited $10,000 in a savings account earning 3.9%
interest compounding daily. How long will it take for the balance
to grow to $21,000? Answer in years rounded to one decimal
place.
2. If you deposited $3500 today into an account earning an 11% annual rate of return,...
2. If you deposited $3500 today into an account earning an 11%
annual rate of return, what will your account be worth in 35 years?
(show your work) a. in 40 years? (show your work)
$20, 000 is deposited into an account earning 2% effective annual interest. At the end of...
$20, 000 is deposited into an account earning 2% effective annual
interest. At the end of each year, the interest earned in that year
plus an additional $500 is withdrawn from this account and put into
another account earning 5% effective annual interest. Find the
accumulated value in the second account after 40 years (when the
first account is completely depleted.)
$20, 000 is deposited into an account earning 2% effective annual interest. At the end of...
$20, 000 is deposited into an account earning 2% effective annual
interest. At the end of each year, the interest earned in that year
plus an additional $500 is withdrawn from this account and put into
another account earning 5% effective annual interest. Find the
accumulated value in the second account after 40 years (when the
first account is completely depleted.)
How long will it take for $45,000 placed in a savings account earning 10% interest rate...
How long will it take for $45,000 placed in a savings account
earning 10% interest rate per year to grow into $70,000?
A. 5.64 years
B. 5.14 years
C. 4.64 years
D. 4.14 years
A principal amount P0 is deposited in a bank account earning 3% interest compounded monthly. After...
A principal amount P0 is deposited in a bank account earning 3%
interest compounded monthly. After 20 years there is $1000 in the
account. What was the principal P0?
Suppose you want to buy a house for $300, 000, but you only have
$100,000. You are able to make an investment that pays 7.3% annual
interest. If the interest is compounded continuously, how long will
it take before you can buy your new house?
You are made an offer. You...
On January 1, 1518, Dracky Lou deposited £17 into an account earning an annual interest rate...
On January 1, 1518, Dracky Lou deposited £17 into an account
earning an annual interest rate of 3%. Dracky Lou then took a long
nap in his coffin, and woke up on January 1, 2018. Dracky Lou now
plans to make the following expenditures using money from this
account: On January 1, 2018, Dracky wishes to purchase a Blood Bank
for £12.5 million. On January 1, 2118, Dracky wishes to purchase
and modernize a crypt in Bucharest Romania. He estimates...
Suppose Evan deposited $10,000 into a savings account today. The account pays a nominal annual interest...
Suppose Evan deposited $10,000 into a savings account today. The
account pays a nominal annual interest rate of 12%, but interest is
compounded quarterly. Assuming that he makes no additional deposits
into or withdrawals from the account, what will his ending balance
be 10 years from today?
If you invest $1,000 today into a deposit account earning 5.75% interest compounded monthly, how much...
If you invest $1,000 today into a deposit account earning 5.75%
interest compounded monthly, how much would your investment be
worth in 10 years?
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