Juan deposits $5,000 into a savings account that pays 7.2% per year, continuously compounded. What is the
Question:
Juan deposits $5,000 into a savings account that pays 7.2% per year, continuously compounded. What is the effective annual interest rate? Determine the value of his account at the end of two years.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
i e 0072 1 0...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Question Posted:
Students also viewed these Business questions
-
A bank pays 10% nominal annual interest on special three-year certificates. What is the effective annual interest rate if interest is compounded: (a) Every three months? (b) Daily? (c) Continuously?
-
The Bawl Street Journal costs $206, payable now, for a 2-year subscription. The newspaper is published 252 days per year (5 days per week, except holidays). If a 10% nominal annual interest rate,...
-
A loan company offers money at 1.95% per month compounded monthly. (a) What is the nominal interest rate? (b) What is the effective annual interest rate? (c) How many years will it take an investment...
-
4. This problem investigates nearest neighbor and bilinear interpolation. For simplicity, we will focus on estimating the image intensity at a single location. Interpolation is used when transforming...
-
Consider Figure 20-1. If this individual were to contemplate consuming a seventh digital app and experience a total utility of 15 utils as a consequence, what would be the resulting marginal utility?...
-
The following table shows financial data (year 2004) for Costco Wholesale and Walmart, two major U.S. retailers. Assume that both companies have an average annual holding cost rate of 30 percent...
-
The 5 - \(\mathrm{kg}\) block is traveling with the speed of \(v=4 \mathrm{~m} / \mathrm{s}\) just before it strikes the 6061-T6 aluminum stepped cylinder. Determine the maximum normal stress...
-
1. Create a detail report that will display all Personal Trainer courses in alphabetical order, with the course name and the instructor name in a group header; the Social Security number, name, and...
-
The x-axis is horizontal and directed toward the point where the ball crosses over the wall. The time t required for the ball to reach the wall is given by the following equation in terms of the...
-
A five-year project has a projected net cash flow of $15,000, $25,000, $30,000, $20,000, and $15,000 in the next five years. It will cost $50,000 to implement the project. If the required rate of...
-
A man deposited $10,000 in a savings account when his son was born. The nominal interest rate was 8% per year, compounded continuously. On the sons 18th birthday, the accumulated sum is withdrawn...
-
College students are now graduating with loan debts averaging $24,000. a. If students repay their loan of $24,000 over 10 years with an annual effective interest rate of 8.3%, what will their annual...
-
Suppose that the Q-P demand curve for a commodity is Q = 100/P. (a) Graph the Q-P curve. (b) Determine the optimum revenue.
-
What is the purpose of administering magnesium sulfate to a patient in labor? What is the purpose of administering magnesium sulfate to a patient in labor? The purpose is to manage pain. The purpose...
-
You are a treasurer at City Finance Bhd. You have made an arrangement with Putra Finance to borrow RM2 million in December 2020 for a period of 3 months. Putra Finance agrees to lend you at a rate of...
-
Pick one answwer In 1850, roughly how much of Britain's national income came from manufacturing and trade?
-
Mike Borrowed $25,000 to finance his car purchase. He agreed to pay back the loan in 36 equal installments over the next three years (monthly payments) with the first payment scheduled for today. His...
-
The Sweet Basil just borrowed $700,000 [PV] to build a new restaurant. The loan terms call for equal annual payments at the end of each year. The loan is for 15 years at an APR of 8.35 percent. How...
-
The management of Colonial Adventure Tours asks you to research improvements it might make to its database processing. To help management, they would like you to complete the following exercises. You...
-
The Taylor's series expansion for cosx about x = 0 is given by: where x is in radians. Write a user-defined function that determines cosx using Taylor's series expansion. For function name and...
-
A company manufactures mother boards for various computer manufacturers. Design changes in computer processors, which are expected to increase sales, will require changes in their manufacturing...
-
You have been assigned the task of analyzing whether to purchase or lease some transportation equipment for your company. The analysis period is six years, and the base year is year zero (b = 0)....
-
Chrysler is considering a cost reduction program with its major suppliers wherein the suppliers must reduce the cost of the components that they furnish to Chrysler by 5% each year. (The total amount...
-
What logic gate does this represent (reduce it) Do D
-
What basic logic gate does this implement? a b in out Not otb E in Not O out nota And out aAndNotb out Or out b notAndb a out And b
-
Design a Fuzzy system to reduce effect of impulse noise on a noisy image with intensities ranging from [0, L-1]. Let zs denotes the intensity of middle pixel of the neighborhood. The output intensity...
Study smarter with the SolutionInn App