A principal of ​$6000 is invested in an account paying an annual rate of 5​%. Find the amount in the account after 4 years if the account is compounded​ semiannually, quarterly, and monthly. ​(a) The amount in the account after 4 years if the account is compounded semiannually is ​$ nothing. ​(Round to the nearest​ cent.)

Answers

Answer 1

Solution :

Given :

Principal amount deposited, P = $ 6000

Rate of interest, r = 5%

Number of years, t = 4 years

When the deposited amount is compounded semiannually, i.e. n = 2

Therefore,

Future value,

[tex]$FV = P\left( 1 +\frac{r}{n}\right)^{nt}$[/tex]

[tex]$FV = 6000\left( 1 +\frac{0.05}{2}\right)^{2 \times 4}$[/tex]

[tex]$FV = 6000 \times (1.025)^8$[/tex]

       = 6000 x 1.2184

        = 7310.4

Therefore, after 4 years there will be $ 7310.4 in the amount when compounded semi annually.

When the deposited amount is compounded quarterly, i.e. n = 4

Therefore,

Future value,

[tex]$FV = P\left( 1 +\frac{r}{n}\right)^{nt}$[/tex]

[tex]$FV = 6000\left( 1 +\frac{0.05}{4}\right)^{4 \times 4}$[/tex]

[tex]$FV = 6000 \times (1.0125)^{16}$[/tex]

       = 6000 x 1.219889

        = 7319.334

Therefore, after 4 years there will be $ 7319.334 in the amount when compounded quarterly.

When the deposited amount is compounded monthly, i.e. n = 12

Therefore,

Future value,

[tex]$FV = P\left( 1 +\frac{r}{n}\right)^{nt}$[/tex]

[tex]$FV = 6000\left( 1 +\frac{0.05}{12}\right)^{12 \times 4}$[/tex]

[tex]$FV = 6000 \times (1.0041667)^{48}$[/tex]

       = 6000 x 1.22089

        = 7325.34

Therefore, after 4 years there will be $ 7325.34 in the amount when compounded monthly.


Related Questions

What is the sum of the complex numbers 3 − 4i and 5 + 3i ?

Answers

Answer:

8 - i

General Formulas and Concepts:

Algebra I

Combining Like Terms

Algebra II

Standard Form: a + bi

Step-by-step explanation:

Step 1: Define

(3 - 4i) + (5 + 3i)

Step 2: Simplify

Combine like terms (Z):                    8 - 4i + 3iCombine like terms (i):                      8 - i

Please answer, fifteen pts!

8x -4 < -36.

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Answers

8x - 4 < -36 <=>

8x < -36 + 4 <=>

8x < -32 <=>

x < -32/8 <=>

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Answer:

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What is the distance between points A (-2, 1) and B (2, 4)?​

Answers

Answer:

5

Step-by-step explanation:

A(-2 , 1)   ; B(2 , 4)

[tex]Distance = \sqrt{(x_{2}-x_{1})^{2}+(y_{2}-y_{1})^{2}}\\\\[/tex]

              [tex]= \sqrt{(2-[-2])^{2}+(4-1)^{2}}\\\\= \sqrt{(2+2)^{2}+(4-1)^{2}}\\\\= \sqrt{(4)^{2}+(3)^{2}}\\\\= \sqrt{16+9}\\\\= \sqrt{25}\\\\= \sqrt{5*5}\\\\= 5[/tex]

why is b the answer ???????????????????/

Answers

Answer:

Step-by-step explanation:

its b cuz when u replace any value of x from B to the equation, the value of y satisfies the values of y in B. For instance

y = 4 * -3 + 2

= -10

the value of y is -10 which satisfies the value of y in B but when u use a value of another table suppose A it would be,

y = 4 * 7 + 2

= 30

but the value y corresponding to the value of x we used is not 30

HOPE IT HELPED

Use the distributive property to remove the parentheses. -5(-6y - 3w + 2)

Answers

Answer:

−5(−6y−3w+2)

=(−5)(−6y+−3w+2)

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=15w+30y−10

2 5/6 years is how many months

Answers

2 5/6 years Is 34 months

Final Answer: 34 months

Steps/Reasons/Explanation:

Hey there! Each year is 12 months. We can see that 2 years is already given. 2 years × 12 months = 24 months.

For [tex]\frac{5}{6}[/tex] we will multiply it by two to find the remaining amount of months. [tex]\frac{5}{6}[/tex] × [tex]2[/tex] = [tex]\frac{10}{12}[/tex]. This means that there is an extra 10 months of a year remaining.

Now we have to add them up. 24 months + 10 months = 34 months.

~I hope I helped you :)~

What is the value of the expression

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B 1
C 1.5
D 2

Answers

Answer:

C. 1.5

Step-by-step explanation:

replace the values in the equation with the values given.

Answer:

I think it will be C. 1.5


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Answer:

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Step-by-step explanation:

Answer:

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Can you give a picture of whatever your asking ?

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15
18
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Answers

3a+9=54

54-9=45

45 / 3=15

Answer:15

Answer:

15

Step-by-step explanation:

3a+b=54

3a+9=54

3a=45

a=15

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Answers

Answer:

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Step-by-step explanation:

Answer:

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Step-by-step explanation:

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Answers

Answer:

The volume of the right circular cone is approximately 17.9 m³

Step-by-step explanation:

The given parameters of the cone are;

Height = 17 m

Circumference of the base, C = 6.3 m

The circumference, C, of a circle is given by the formula, C = 2×π×r

Therefore, we have;

C = 6.3 m = 2×π×r

r = 6.3/(2 × π) ≈ 1.002676

The volume, V, of a cone is given by the following formula;

[tex]V = \dfrac{1}{3} \times \pi \times r^2 \times h[/tex]

Where;

r = The radius of the base ≈ 1.002676

h = The height of the cone = 17 m

[tex]V = \dfrac{1}{3} \times \pi \times 1.002676^2 \times 17[/tex]

V = 1/3 × π × (1.002676 m)² × 17 m ≈ 17.89776 m³ which by rounding up to one decimal place is 17.9 m³

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Answers

75 is the answer since the 6 is above 5.

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Answers

Answer:

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Solving:

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Answer:

g = -7.9

And don`t worry I only know how to do this because I remember it from a few years ago. I`m not even caught up in my own math class ;--;

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Answers

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Step-by-step explanation:

Answer:

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Karen purchased a prepaid phone card for $15. Long-distance calls cost 19 cents a minute using this card. Karen used her card only once to make a long-distance call. If the remaining credit on her card is $12.91, how many minutes did her call last?

Answers

Answer:

I am pretty sure the answer is 11 minutes and the cost was $2.09

Step-by-step explanation:

Ihope this helps you:)

Step-by-step explanation:

Ok so we start with $15 now the remaining amount is $12.91, so let's substract

15.00 - 12.91 = 2.09

Alright now I must work with this number, since every minute used on the call is 19 cents, i must divide 2.09 to see how many 19 cents fit into this number

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Dndbksndbdkwkdbdkdndnfbbdjff

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Answer:

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Step-by-step explanation:

have nice day

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Answers

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Step-by-step explanation:

Answer:

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Answers

Answer

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Step-by-step explanation:

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Answers

9514 1404 393

Answer:

  see attached

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For values of x less than zero, the graph of the function is a graph of the line

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__

For values of x greater than 0, the graph of the function is a graph of the line

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Is a software salesmanLet y represent his total say in )Let the of copies of History is sellsSuppose and y are related by the equation y = 2200 + 70x Answer the questions below. Note that a change can be an increase or decrease . For

Answers

Answer:

The answer is "70  and 2200".

Step-by-step explanation:

Please find the complete question in the attached file.

The total payment  = y

The number of copies to be sold = x

[tex]\to y = 70x + 2200[/tex]

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Change of pay = discrepancies between (x+1) sale and (x) sale of copies for every copy sold

[tex]=[70(x+1) + 2200] - [70x + 2200] \\\\= 70x + 70 + 2200 - 70x - 2200\\\\= 70\\\\[/tex]

In part (b) :

[tex]\to y = 70x+ 2200[/tex]

when [tex]x = 0[/tex]

[tex]\to y = 70(0) + 2200\\\\[/tex]

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Answers

Answer:

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Step-by-step explanation:

What is 2/5 ÷ 1/10 = ?​

Answers

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7 × (-5) is equivalent to?
2
-35
35
-12

Answers

Answer:-35

Step-by-step explanation: 7x5 = 35, but since the 5 is a negative it’s -35

Answer:

-35

Step-by-step explanation:

whenever multiplying positive and negative integers, if one of the factors are negative, then the answer will be negative. if both are negative, the answer becomes a positive, and if both are positive, the answers stays positive.

in this case 7 is positive and 5 is negative so  your anwers is -35

hope i helped!

:)

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Answers

Answer: Your answer would be -8

Step-by-step explanation:

You have to divide each side by factors that doesn't contain the variable.

Hope this helped you! <3

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Answer:

95

Step-by-step explanation:

I hope this help

(-19)×(-5)

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