Jimmy invests $4,000 in an account that pays 2% annual interest, compounded semi-annually. What is his balance,
Question:
Jimmy invests $4,000 in an account that pays 2% annual interest, compounded semi-annually. What is his balance, to the nearest cent, at the end of 10 years?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
Answered By
Cyrus Sandoval
I a web and systems developer with a vast array of knowledge in many different front end and back end languages, responsive frameworks, databases, and best code practices. My objective is simply to be the best web developer that i can be and to contribute to the technology industry all that i know and i can do. My skills include:
- Front end languages: css, HTML, Javascript, XML
- Frameworks: Angular, Jquery, Bootstrap, Jasmine, Mocha
- Back End Languages: Java, Javascript, PHP,kotlin
- Databases: MySQL, PostegreSQL, Mongo, Cassandra
- Tools: Atom, Aptana, Eclipse, Android Studio, Notepad++, Netbeans.
Having a degree in Computer Science enabled me to deeply learn most of the things regarding programming, and i believe that my understanding of problem solving and complex algorithms are also skills that have and will continue to contribute to my overall success as a developer.
I’ve worked on countless freelance projects and have been involved with a handful of notable startups. Also while freelancing I was involved in doing other IT tasks requiring the use of computers from working with data, content creation and transcription.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
Question Posted:
Students also viewed these Mathematics questions
-
An investor deposits $10,000 in an account that earns 3.5% interest compounded quarterly. The balance in the account after n quarters is given by An = 10,000(1 + 0.035/4)n, n = 1, 2, 3, . . . (a)...
-
An investor deposits $10,000 in an account that earns 2.25% interest compounded monthly. The balance in the account after n months is given by An = 10,000 (1 + 0.0225/12)n n = 1, 2, 3, . . . . (a)...
-
1. Thomas invests $121 in an account that pays 6 percent simple interest. How much money will Thomas have at the end of 4 years? $144.11 $150.04 $157.30 $142.78 $152.76 2. Beatrice invests $1,430 in...
-
Consider the following exotic option whose payoff at maturity is given by the stock price squared less a strike price if it has a positive value, zero otherwise: max[S(2)2 K, 0]. Assuming that the...
-
Boom AB is supported by cable BC and a hinge at A. Knowing that the boom exerts on pin B a force directed along the boom and that the tension in rope BD is 310 N, determine (a) The value of α...
-
Water flows over a sharp-crested triangular weir with \(\theta=90^{\circ}\). The head range covered is \(0.20 \leq H \leq 1.0 \mathrm{ft}\) and the accuracy in the measurement of the head, \(H\), is...
-
Mark's Bowling Alley's adjusted trial balance as of December 31, 2018, is presented below: Requirements 1. Prepare the closing entries for Mark's Bowling Alley. 2. Prepare a post-closing trial...
-
How can Managers use Exchange markets and Rates to benefit their firms? Give examples. please do not repeat these examples : 1) Managers can use exchange markets and rates to benefit their firms by...
-
Company ABC had credit sales of $400,000 during the month of July. At the end of July, an examination into their A/R showed that the total balance was $350,000 broken down as follows: Current...
-
In each of the following compound interest equations with t representing the account term, determine the number of times the account is compounded per year and the interest rate percent. a. 2254 5...
-
Jerome deposits $3,700 in a certificate of deposit that pays 1.8% interest, compounded annually. How much interest does Jerome earn in 1 year?
-
Refer to the information presented in E10-14. Assume that the Molding Department has excess capacity, but the Assembly Department requires the casing to be made from a specific blend of plastics....
-
Jackie is buying a new car for $23,000. She would like to add options that cost $752.00. In her state, she is required to pay a $25.00 registration fee, $20.00 for a car license, and 7% sales tax....
-
Case Analysis: Pethritis You have just been hired as the marketing director for Sting Communications Inc. (SC). It is a full-service agency that practices integrated marketing communications, with...
-
what ways does Conceptual art prioritize the conceptual framework over the physical manifestation of the artwork, and how does this emphasis influence the viewer's engagement with the piece ?
-
The normal equation for the linear system 8 2 2 1 1 Xx 1 3 5 1 = 2 1 2 1 is ...
-
Explain the following Mass communication Mass media Shannon-Weaver model (classical model of communication) Interpersonal communication Intrapersonal communication Bloggers The Roman Catholic Church...
-
Let Briefly.
-
Evaluate the line integral, where C is the given curve. C x 2 dx + y 2 dy, C consists of the arc of the circle x 2 + y 2 = 4 from (2, 0) to (0, 2) followed by the line segment from (0, 2) to (4, 3)
-
For each of the following questions, complete the form indicated to find the adjusted gross income, taxable income, tax due, and amount of refund or amount owed. Round all answers to the nearest...
-
How can the quote be interpreted in light of what you have learned? Discuss briefly.
-
Round all monetary answers to the nearest dollar. Use the tax tables in the Appendix or the appropriate schedule based on filing status. Chiara had $5,700 in medical expenses last year. Her medical...
-
course table colums: - course_number _course_name -course_description -instructor_id Make an audit table for the courses table in the courses database. You should create matching fields to store...
-
What SQL statements are considered as SQL Transaction Control Language? Provide three examples.
-
The x component of the velocity vector is V x = 5 . 2 7 m i h Make a North - South, East - West grid and fill in the components determined in questions 1 and 2 . Show your work, Include a diagram....
Study smarter with the SolutionInn App