Find the balance in an account when $1000 is deposited for 8 years at an interest rate
Question:
Find the balance in an account when $1000 is deposited for 8 years at an interest rate of 4% compounded continuously.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
A 10...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
For how many months, at an interest rate of 1% per month, does money have to be invested before it will double in value?
-
Sabrina borrowed $30,000 at an interest rate of 7% compounded quarterly. Monthly payments of $356.83 will commence after a period of deferral and will pay off the loan over the subsequent 12 1/2...
-
Jessica borrowed $5963 at an interest rate of 9% compounded annually. No payments have been made on the loan, and its current balance is $10,000. How many years ago did Jessica borrow the money?...
-
During the year ended 30 June 20X5, Gem Stone Ltd acquired two areas of interest Site A and Site B. The exploration and evaluation activities at Site A amounted to $64454401. The costs relate to the...
-
What is the significance of a secured position if the absolute priority rule is typically not followed in a reorganization?
-
Tana Thorne works in a public accounting firm and hopes to eventually be a partner. The management of Allnet Company invites Thorne to prepare a bid to audit Allnet's financial statements. In...
-
Retro Furniture Ltd suffered a severe drop in sales and profit performance for the year ended 30 June 2025. The income statement revealed that net sales were \($1\) 500 000 with a profit of \($310\)...
-
The City of South Dundee budget for the fiscal year ended June 30, 2012, included an appropriation for the police department in the amount of $16,000,000. During the month of July 2011, the following...
-
One psychologist showed a shaky video of a guy placing a bomb to the participants in his study (and 60 minutes showed us!) What did that study teach us?
-
Supercom Ltd. Produces two computer models: PC1086 and PC1186. Matrix A shows the cost per computer (in thousands of dollars) for raw materials, labor and miscellaneous. [1.2 161 A=0.3 0.4 lo.5 0.61...
-
In Exercises find the exponential function y = Ce kt that passes through the two points. 5 4 3 2 1 y (1,4) + 1 2 . -3 (4,1) 4 5
-
In Exercises use the result of Exercise 26. Data from in Exercise 26 A large corporation starts at time t = 0 to invest part of its receipts continuously at a rate of P dollars per year in a fund for...
-
Wesley and Myrtle (ages 90 and 88, respectively) live in an assisted care facility and for the last two years received their support from the following sources. Percentage of Support Social Security...
-
An object is constrained by a cord to move in a circular path of radius 0.5m on a horizontal frictionless surface. The cord will break if its tension exceeds 16N. What is the maximum kinetic energy...
-
In October, Blossom Company reports 18,100 actual direct labor hours, and it incurs $100,500 of manufacturing overhead costs. Standard hours allowed for the work done is 20,100 hours. The...
-
Sideshow Bob's Circus is considering replacing its current Whack-A-Mole machines with a new and improved model. The old machines cost $600,000 7 years ago and is being depreciated to zero using...
-
Vaughn Co. sells product P-14 at a price of $48 a unit. The per-unit cost data are direct materials $15, direct labour $10, and overhead $16 (75% variable). Vaughn has no excess capacity to accept a...
-
This year Diane intends to file a married-joint return. Diane received $187,500 of salary and paid $5,000 of interest on loans used to pay qualified tuition costs for her dependent daughter, Deb....
-
If the netting process for capital gains really has no impact on corporations, why do you think it still remains as part of the tax law?
-
Suppose the spot and six-month forward rates on the Norwegian krone are Kr 5.78 and Kr 5.86, respectively. The annual risk-free rate in the United States is 3.8 percent, and the annual risk-free rate...
-
The population of the United States was 3.9 million in 1790 and 178 million in 1960. If the rate of growth is assumed proportional to the number present, what estimate would you give for the...
-
The population of a certain country is growing a t 3.2% per year; that is if it is A at the beginning of the year, it is 1.032A at the end of that year. Assuming that if is 4.5 million now, what will...
-
In problems, solve each differential equation (a) dy/dx + y = e-x (b) (x+1) dy/dx + y = x2 -1 (c) (1-x2) dy/dx + xy = ax, |x| < 1
-
Based on the mathematical definitions of the asymptotic notations, prove the following state- ments. (a) 5n-3n + 4n+ 2 = N(n4) (b) Suppose g(n) 0 and f(n) 0 for all sufficiently large n. If f(n) =...
-
5. [18 Points] Let RE = (01 + 10) ((10)*+ (0*1)*)*. (a) Convert the above RE to an NFA M using the procedure described in class. (b) Convert M to a DFA M' (c) Minimize M'.
-
1. Tabulate three differences between Procedural and Object-Orient Programming languages. 2. Discuss the four characteristics of Object-Oriented Programming. (6) (8) 3. By means of a diagram...
Study smarter with the SolutionInn App