If money is deposited steadily in a savings account at the rate of $4500 per year, determine
Question:
If money is deposited steadily in a savings account at the rate of $4500 per year, determine the balance at the end of 1 year if the account pays 9% interest compounded continuously.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
So 4500c 4...View the full answer
Answered By
Omar ELmoursi
I'm Omar, I have Bachelor degree in Business and Finance, My unique approach is to help students with questions and assignments, I can teach Business, Math, Accounting, Managerial Accounting, Economy, Human resources management, organizational behavior, project management, I have experience dealing with different types of students and teach them how to deal with different types of exercises.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Calculus And Its Applications
ISBN: 9780134437774
14th Edition
Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar
Question Posted:
Students also viewed these Mathematics questions
-
Suppose that money is deposited steadily in a savings account so that $16,000 is deposited each year. Determine the balance at the end of 4 years if the account pays 8% interest compounded...
-
Suppose that money is deposited steadily in a savings account so that $14,000 is deposited each year. Determine the balance at the end of 6 years if the account pays 4.5% interest compounded...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Posting the entries from the sales journal to the accounts receivable subsidiary ledger should be done ______. a). at the end of each month b). on a weekly basis c). on a daily basis d). only at the...
-
You have been asked to conduct a national study of urban home selling prices to determine if there has been an increase in selling prices over time. There has been some concern that housing prices in...
-
Use the convolution integral to determine the response of the system of Figure P5.10. FIGURE P5.10 --- 3 3 www -2k L 3 M Mge-5
-
Using the central difference method, find the response of the two-degree-of-freedom system shown in Fig. 11.2 when \(c=2, F_{1}(t)=0, F_{2}(t)=10\). Figure 11.2:- X1(t) -x2(t) F(1) k=2 -F2(t) k = 4...
-
CVP analysis, changing revenues and costs Sunny Spot Travel Agency specializes in flights between Toronto and Jamaica. It books passengers on Canadian Air. Sunny Spots fixed costs are $23,500 per...
-
The management of Zigby Manufacturing prepared the following balance sheet for March 31. Cash Accounts receivable Raw materials inventory Assets Finished goods inventory Equipment Less: Accumulated...
-
Drilling of an oil well has a fixed cost of $10,000 and a marginal cost of C(x) = 1000 + 50x dollars per foot, where x is the depth in feet. Find the expression for C(x), the total cost of drilling x...
-
Plot the graph of the solution of the differential equation y = e -x2 , y(0) = 0. Observe that the graph approaches the value /2 .9 as x increases.
-
What are the major reasons for standardizing an international advertising program? Discuss.
-
A large company with locations in different cities has taken an OOP approach in creating an administration program that manages all aspects of its business. These aspects include: the sale of all of...
-
b. If the query point q moves, the resulting q.3NN can change, and the point where q.3NN changes is called the safe exit point. Find the same exit point in the figure above when q moves in n2...
-
. Find YTM and Spot Rate using each Bond from A to C. Spot (ORN) (4) (5) (6) Period 1 2 3 YTM (1) (2) (3) Maturity 1 2 3 Based on your answers to Question 1, calculate prices of the following...
-
Translate the following E/R diagram to the relational model and write both relational schema and DDL queries for each relation. name Date surname Customer 1 orders Order age Status >18 & <100...
-
A single - acting two stage air compressor has a bore of 200 mm and a stroke of 300 mm. Air is induced at 1 bar and 32 oC and delivered at 12 bar. The temperature of the air entering the second stage...
-
You have a friend who is considering purchasing some shares in LookFool Ltd. The shares are currently trading on the stock exchange at $3.58 each. The entity's financial statements suggest that the...
-
Imagine that your best friend knows you are taking a psychology course and wonders what psychology is all about. How would you define psychology for your friend? Write an essay on the discipline of...
-
Long Manufacturing produces heat exchangers, primarily for the automotive industry. One such product, a transmission oil cooler, is used in the cooling of bus transmissions. It is composed of a...
-
Find the process capability index for Exercise 21.35. In exercise 21.35 Long Manufacturing produces heat exchangers, primarily for the automotive industry. One such product, a transmission oil...
-
Refer to Exercise 21.35. Nuts and bolts are used in the assembly of the transmission oil coolers. They are supposed to be tightened by a torque wrench to 7 foot-pounds with specification limits LSL =...
-
Humble Lions Football Club has 6 0 members. Twenty are non - playing members, paying an annual subscription of $ 1 0 0 0 0 . The remaining 4 0 members are active playing members. For 2 0 2 4 , the...
-
Newburg Company started 2 0 2 3 with 4 0 , 0 0 0 outstanding shares of common stock. On 2 / 1 / 2 3 , it issued an additional 1 0 , 0 0 0 shares and bought back 1 5 , 0 0 0 shares on 9 / 3 0 / 2 3 ....
-
Riziki Insurance Company Ltd . was incorporated in year 2 0 1 9 . The company deals with different classes of insurance. The following trial balance was extracted from the books of accounts as at 3 1...
Study smarter with the SolutionInn App