Find the number of years (to the nearest tenth) needed for $48,000 to become $53,647 at 2.8%

Question:

Find the number of years (to the nearest tenth) needed for $48,000 to become $53,647 at 2.8% interest compounded semiannually.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

College Algebra

ISBN: 978-0134697024

12th edition

Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels

See More Books

Question Posted: Mar 09, 2019 05:36 AM

See More Questions

The formula can be used to find the number of years t required for an investment P to grow to a value A when compounded continuously at an annual rate r. (a) How long will it take to increase an...
The formula can be used to find the number of years t required to multiply an investment m times when r is the per annum interest rate compounded n times a year. (a) How many years will it take to...
Suppose the inflation rate is 4%. Use the formula for continuous compounding to find the number of years, to the nearest tenth, for a $1 item to cost $2.
For the spherical coordinate system (R, , ) in Fig. 1.6, show that: Fig 1.6 X @3 0 Ex R e2 en ee X2
Duval Manufacturing recently reported the following information: Net income......................................$ 600,000 ROA.....................................................8% Interest...
Let X, Y have joint density fX,Y (x,y) = 6/7(x+y)2 For 0 x,y 1 And fX,Y (x,y) = 0 otherwise Find P(X 1/2, Y 1/2).
On November 14, 2010, Amazing Sound, Inc., sold $3,100 of inventory (cost is $1,330) on account to one of its customers. The terms were 3/10, n/30, FOB desti nation. On November 16, Amazing Sound,...
Is Service Marketing Different from Product Marketing? Some service marketers maintain that service marketing is fundamentally different from product marketing and relies on different skills. Some...
A partnership begins its first year of operations with the following capital balances: Allegan, Capital Berrien, Capital $ 50,000 40,000 50,000 Kent, Capital According to the articles of partnership,...
Which controls would be more important to Chipotle: feedforward, concurrent, or feedback? Explain.
What annual interest rate, to the nearest tenth, will produce $4700 if $3500 is left at interest compounded annually for 10 yr?
Manuel deposits $10,000 for 12 yr in an account paying 3% interest compounded annually. He then puts this total amount on deposit in another account paying 4% interest compounded semiannually for...
Val McIntyre of Halifax established a graphics company. Record the following transactions for Val in T account form. Label each entry with the letter of the transaction. A. Val McIntyre invested...
On January 1 of its first month of business, Juan in a Million, Inc., paid $48,000 for four months rent beginning in January. How much will be reported as Rent Expense on its income statement for the...
The Challenges of Marketing Budget Preparation in Uncertain Times 1. What do you think of the approach to the marketing planning used in the initial 2020 plan Fitzie's EMESSA region? 2. Evaluate each...
An aluminum wheel rubs against an aluminum plate in such a manner that there is a 51.0 N force of kinetic friction between them, and the relative speed at which the two surfaces slide over each other...
You charge a piece of aluminum foil ( mass = 3 . 0 9 g ) by touching it to a charged rod. The charged rod gives the aluminum foil a charge of 1 4 C . Your professor brings a charged plate over and...
If the future value of an ordinary, 6-year annuity is $9,100 and interest rates are 9.5 percent, what's the future value of the same annuity due? (Round your answer to 2 decimal places.)
Prepare a statement of cash flows for the Win field Corporation for 2015. WINFIELD CORPORATION Income Statement Year Ended December 31 , 2015...
[a] Two foam blocks, each with a charge of 19 micro coulombs (1 C = 10-6 C), are both held in place 19 cm apart in the east-west direction. A foam ball with a charge 49 C is placed 55 cm north of the...
In Problems 1932, find the distance d between the points P 1 and P 2 . P = (5,-2); P = (6,1)
The elongation E of a spring balance varies directly with the applied weight W (see the figure). If E = 3 when W = 20, find E when W = 15. 00 3 W TEI
In Problems 2532, graph the line that contains the point P and has slope m. P = (2, 4); m = 3 4
what ways does cognitive diversity contribute to more effective decision-making processes, and how can organizations leverage this to achieve competitive advantages in a globalized market ?
On January 1, 2020 Zappa Enterprises sold 8%, 20-year bonds with a face amount of $1,200,000 for $1,140,000. Interest is payable annually on January 1. Calculate the carrying value of the bond at...
2. The polynomial z+az + bz-65 has a factor of (-2-31) Find the values of the real constants and b.

Find the number of years (to the nearest tenth) needed for $48,000 to become $53,647 at 2.8%

Question:

Step by Step Answer:

Substitute P 48000 A 53...View the full answer

College Algebra

Students also viewed these Mathematics questions