Greg Tobin wishes to invest a $5000 bonus check into a savings account that pays 6.3% interest.
Question:
Greg Tobin wishes to invest a $5000 bonus check into a savings account that pays 6.3% interest. Find how many years it will take for the $5000 to grow to at least $11,000 if interest is compounded
a. Quarterly.
b. Continuously.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
a To find how many years it will take for 5000 to grow to at least 11000 if interest is compounded q...View the full answer
Answered By
Devika V
I have several years of hands-on experience tutoring students from grades 5 through 12 in a variety of subjects including math, science, English, and so on. I engage my students through interactive lessons, using visual aids, practical examples and hands-on activities to ensure they comprehend the material.
I begin each tutoring session by assessing the student's current knowledge and identifying areas requiring focused attention. I then develop a customized study plan with short-term and long-term goals. My approach to instruction is personalized for each student's unique needs, learning style, and motivation level.
Throughout our sessions, I check for understanding by asking questions that require students to apply and demonstrate their knowledge. I provide clear and constructive feedback while also recognizing and celebrating progress. I maintain an organized system for tracking student progress and tailor future lessons accordingly.
Most importantly, I build trust and rapport with my students to create a motivational and encouraging learning environment. My approach emphasizes confidence building and a growth mindset so students can maximize their learning potential.
0.00
0 Reviews
10+ Question Solved
Related Book For
Calculus With Applications
ISBN: 9780321831101
10th Edition
Authors: Margaret L Lial, Raymond N Greenwell, Nathan P Ritchey
Question Posted:
Students also viewed these Mathematics questions
-
Andre wishes to invest a $5000 bonus check into a savings account that pays 6.3% interest. Find how many years it will take for the $5000 to grow to at least $11,000 if interest is compounded (a)...
-
A typical electric water heater has an efficiency of 95 percent and costs $350 a year to operate at a unit cost of electricity of $0.11/kWh. A typical heat pump-powered water heater has a COP of 3.3...
-
A typical electric water heater has an efficiency of 90 percent and costs $390 a year to operate at a unit cost of electricity of $0.08/kWh. A typical heat pump-powered water heater has a COP of 2.2...
-
A decline in the aggregate demand has led to a decline in output in the economy equal to $10 billion. Government wants to counter this recession by reducing income taxes. Assuming that the marginal...
-
Daytime demand, QD = 400 - 50 PDNighttime demand, QN = 200 - 20 PNThe marginal cost of serving another customer is $5 and its fixed costs are $100. a. If the theater uses third degree price...
-
Do you expect an aqueous solution of sodium hypochlorite to be acidic, neutral, or basic? What about an aqueous solution of sodium perchlorate?
-
Maximum work is done in compressing air when the compression is: (a) Isothermal compression (b) Adiabatic compression (c) Polytropic compression (d) None of these
-
U.S. consumers are increasingly viewing debit cards as a convenient substitute for cash and checks. The average amount spent annually on a debit card is $7,790 (Kiplinger's , August 2007). Assume...
-
Calculate the tension in the following figure: T 30 30 250 N T2
-
Describe in words what a logarithm is.
-
Christine OBrien, who is self-employed, wants to invest $60,000 in a pension plan. One investment offers 8% compounded quarterly. Another offers 7.75% compounded continuously. a. Which investment...
-
The capital structure of ASIA Corporation as at 31 December 20x5 is as follows: Additional information (a) ASIA Corporation reported net profit after tax of $2,800,000 for the year ended 31 December...
-
A 64-year-old patient of a pharmacy will retire at age 65 and will be switching from her employer-sponsored plan to Medicare. She wonders if she will have drug coverage like she does with her current...
-
Puerto Rico enacted a law that required specific labels on cement sold in Puerto Rico and imposed fines for any violations of these requirements. The law prohibited the sale or distribution of cement...
-
A state legislature enacted a statute that required any motorcycle operator or passenger on the states highways to wear a protective helmet. Jim Alderman, a licensed motorcycle operator, sued the...
-
Marguerite Eaton and Bobby Joe Waldrop moved into a mobile home on land owned by her son, James. Bobby Joe asked James to transfer that portion of the land to him and Marguerite, stating falsely that...
-
Lisa Goldstein reserved space for a marriage ceremony in a building owned by Orensanz Events, LLC, in New York City. The rental agreement provided that on cancellation of the event for any reason...
-
According to the Gallup Poll, 27% of U.S. adults have high levels of cholesterol. Gallup reports that such elevated levels could be financially devastating to the U.S. healthcare system and are a...
-
If the amplifier indicated by the box input impedance of oo, which of the following statements are true ? has an open loop gain as well as Feedback factor (\beta = 1/ R_1\) The feedback is voltage...
-
Determine whether each statement is true or false, and explain why. For all functions (x) and g(x), it is always true that [g(x)] = g[(x)].
-
Determine whether each statement is true or false, and explain why. The derivative of (t) = ln t is (t) = 1/t.
-
Determine whether each statement is true or false, and explain why. Since a constant function does not change, its derivative is always 0.
-
Discuss development and growth of derivative markets in the US.
-
Felipe Lemos is currency strategist with the Miami-based hedge fund Kawa. With the annual interest rate at 8.5 percent for real denominated deposits with AAA-rated Brazilian banks, Felipe is...
-
Explain the conditions favouring the formation of photochemical fog and list the chemical reactions responsible. List the major pollutants in the automobile exhaust and discuss the ways and means to...
Study smarter with the SolutionInn App