Find the balance of a $1000 investment, after 10 years, at an annual interest rate of 6.5%
Question:
a. Annually
b. Monthly
c. Daily (In financial practice, daily means 360 times per year, not 365.)
d. After the same length of time, how will the balances compare from investments that are compounded annually, monthly, or daily?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 28% (7 reviews)
a u 0 1000 and u n 1 0065u n1 where n 1 u 10 187714 b u 0 1000 and u n 1 006512 u n1 wher...View the full answer
Answered By
Sheikh Muhammad Ibrahim
During the course of my study, I have worked as a private tutor. I have taught Maths and Physics to O'Level and A'Level students, as well as I have also taught basic engineering courses to my juniors in the university. Engineering intrigues me alot because it a world full of ideas. I have passionately taught students and this made me learn alot. Teaching algebra and basic calculus, from the very basics of it made me very patient. Therefore, I know many tricks to make your work easier for you. I believe that every student has a potential to work himself. I am just here to polish your skills. I am a bright student in my university. My juniors are always happy from me because I help in their assignments and they are never late.
4.90+
14+ Reviews
24+ Question Solved
Related Book For
Discovering Advanced Algebra An Investigative Approach
ISBN: 978-1559539845
1st edition
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
Question Posted:
Students also viewed these Linear Algebra questions
-
A $200 investment in a savings account grows according to A(t) = 200e 0.0398t , for t 0, where t is measured in years. a. Find the balance of the account after 10 years. b. How fast is the account...
-
Consider a $1000 investment at an annual interest rate of 6.5%, compounded quarterly. Find the balance after a. 10 years b. 20 years c. 30 years
-
Which investment will earn more money, a $1000 investment for 5 years at 8% compounded annually or a $1000 investment for 5 years compounded continuously at 7%?
-
Construct the general solution of x ' = Ax involving complex eigenfunctions and then obtain the general real solution. Describe the shapes of typical trajectories. =[ A = 3. -2 1]
-
Find the required return for a stock, given that the current dividend is $4.25 per share, the dividend growth rate is 6.5 percent, and the stock price is $101.00 per share. a. 10.98% b. 9.91% c....
-
John Roesch Inc. was incorporated in 2007 to operate as a computer software service firm with an accounting fiscal year ending August 31. Roeschs primary product is a sophisticated on-line...
-
Assume you prepay Hercules Workout World for a package of six physical training sessions. Which type of account should you have in your records? a. Prepaid expense b. Accrued expense c. Accrued...
-
Using a flexible budget to accommodate market uncertainty According to its original plan, Darey Consulting Services Company would charge its customers for service at $125 per hour in 2011. The...
-
Describe how you might select a nursing theory. What factors would you consider in determining the feasibility of the theory for your setting? Analyze how the history of Christianity has framed the...
-
Use Taylor's method of order two to approximate the solution for each of the following initial-value problems. a. y' = (2 2ty)/(t2 + 1) , 0 t 1, y(0) = 1, with h = 0.1 b. y' = y2/(1 + t) , 1 t 2,...
-
Find the balance after 5 years if $500 is deposited into an account with an annual interest rate of 3.25%, compounded monthly.
-
Beau and Shaleah each get a $1000 bonus at work and decide to invest it. Beau puts his money into an account that earns an annual interest rate of 6.5%, compounded yearly. He also decides to deposit...
-
Calculate the double integral. 1 dA, R=[1, 3] [1, 2] 1+x+ y R
-
Most experts expect the development of worldwide sporting leagues to continue as the cost of communication and transportation continues to fall. Traditional American sports may find themselves in...
-
, how do leaders traverse the labyrinth of self-awareness, transparent communication, moral fortitude, and relational authenticity, thereby cultivating a cohesive tapestry of trust, integrity, and...
-
how do varying leadership paradigms, characterized by distinctive comportments and ideological underpinnings, exert discernible influences on team efficacy and corporate culture cultivation ?
-
Suppose that you are instead interested in individual-level exposures. Describe a hypothetical individual-level study for a closely related research question. What is your question of interest? How...
-
Conclusive Remarks 4. Draw overall conclusions and make recommendations based on the evaluation of your chosen organization. 4.1. Summarize the process of evaluating an organization's strategy. 4.2....
-
Are twin births becomming more common? Part II Review Exercise R2.5 looked at the number of twin births by year from 1980 to 2014. Now we can include some inference: a) State and test the standard...
-
Find the image of x = k = const under w = 1/z. Use formulas similar to those in Example 1. y| y = 0 -21 -2 -1 -1, /1 12 T -1 -1 y= -2 x =0
-
Graph the function with a graphing calculator. Then visually estimate the domain and the range. (a) f(x) = | x | (b) f(x) = | x | - 2 (c) f(x) = 3x - 2
-
In 2008, it took $21.57 to equal the value of $1 in 1913. In 1985, it took only $10.87 to equal the value of $1 in 1913. The amount it takes to equal the value of $1 in 1913 can be estimated by the...
-
The elevation E, in meters, above sea level at which the boiling point of water is t degrees Celsius is given by the function E(t) = 1000(100 - t) + 580(100 - t) 2. At what elevation is the boiling...
-
A drum contains water and 1,4-dioxane that is left over waste from an electronics cleaning facility. For a mixture of 70 mol% water and 30 mol% 1,4-dioxane in the drum at 35 oC, calculate the...
-
Show what is produced by the following Java code. Assume list is a reference variable of type Sinly LinkedList, and length(), InsertFirst(), insertLast). first(), last(). print() are the methods of...
-
Explore the themes of alienation and dislocation in James Joyce's "Ulysses." How do these themes reflect the modernist perspective on the fragmentation of society and the individual's place within it...
Study smarter with the SolutionInn App