If an initial investment of $2500 grows to $38,000 in 18 years, what annual interest rate, compounded
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
P 2500 S 38000 n 18 38 000 2500 ...View the full answer
Answered By
Carly Cimino
As a tutor, my focus is to help communicate and break down difficult concepts in a way that allows students greater accessibility and comprehension to their course material. I love helping others develop a sense of personal confidence and curiosity, and I'm looking forward to the chance to interact and work with you professionally and better your academic grades.
4.30+
12+ Reviews
21+ Question Solved
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted:
Students also viewed these Calculus questions
-
(a) If an initial investment of $35,000 grows to $257,000 in 15 years, what annual interest rate, continuously compounded, was earned? (b) What is the annual percentage yield on this investment?
-
How much will an initial investment of $1,000 earning interest of 8% a year be worth at the end of 20 years? How does this change if the interest is paid more frequently?
-
How many years will it take for an initial investment of $10,000 to grow to $25,000? Assume a rate of interest of 6% compounded continuously.
-
Write the boldfaced numbers in each problem in scientific notation. The largest of the 50 United States is Alaska, with land area of about 365,482,000 acres, while the smallest is Rhode Island, with...
-
The Q factor of a resonance circuit can be defined as the ratio of the voltage across the capacitor (or inductor) to the voltage across the resistor, at resonance. The larger the Q factor, the...
-
Earth scientists measured several chemical properties in water samples taken from wells at three locations. Following are sample means, standard deviations, and sample sizes for pH measurements. a....
-
\(2000 \div(-40)\) Complete the indicated calculation.
-
Keeper Corporations income statement for the year ended June 30, 2014, and its comparative balance sheets for June 30, 2014 and 2013 follow. Keeper Corporation Income Statement For the Year Ended...
-
a simulation in Excel You simulation will need to determine the likelihood of running out of money in retirement for different withdrawal rates. Please see the presentation for additional guidance...
-
The Big Max grocery store sells three brands of milk in half-liter cartonsits own brand, a local dairy brand, and a national brand. The profit from its own brand is $0.97 a carton, the profit from...
-
1. The future value of a series of payments, with interest compounded when the payments are made? 2. The simple interest earned on an investment 3. The present value of a series of payments, with...
-
1. How much must be deposited at the end of each month in an account that earns 8.4%, compounded monthly, if the goal is to have $40,000 after 10 years? 2. What is the future value if $1000 is...
-
In an object-oriented traffic simulation system, we have the classes listed below. Draw an inheritance diagram that shows the relationships between these classes. Vehicle Car Truck Sedan Coupe ...
-
Prepare a bank reconciliation on paper, Excel or however you would like. Then enter the Adjusted Cash Balance in the space provided below for your answer. The format of your answer should be a number...
-
Pyrus, Inc. owes a total of $ 1 5 , 3 2 1 in taxes for this year. The taxable income is $ 7 2 , 6 5 9 . If Pyrus earns $ 1 0 0 more in income, it will owe an additional $ 3 5 in taxes. What is Pyrus'...
-
In the last 30 years, Nike has only intensified its practices in growth across all continents. Over the years, Nike has had success but has occasionally come under scrutiny for various unethical...
-
Fischer Fabrication reported the following information concerning its direct materials: Direct materials purchased (actual) Standard cost of materials purchased Standard price times actual amount of...
-
Project Y requires a $330,000 investment for new machinery with a six-year life and no salvage value. The project yields the following annual results. Cash flows occur evenly within each year. (PV of...
-
Presented below are excerpts from the 2018 annual report of Marstons PLC, a UK-based company that operates pubs. Property, plant and equipment Freehold and leasehold properties are initially stated...
-
The following table shows the rates of total return in successive years from 2004 to 2008 for the Sprott Canadian Equity Fund and for the benchmark Toronto Stock Exchange S&P/TSX Composite Index. By...
-
There are 15 plants in the control plot with mean yield 8.2, and the variance for yield in both populations is known to be 6.25. Compare with the results in Section 8.5, Exercise 3. Recall the data...
-
Use p-values to test the null hypothesis of equal means against an alternative that 2 > 1 when sample means of 1 and 2 are found from samples of size n1 and n2 with sample variances s21 and s22. Use...
-
There are 20 plants in the control plot with mean seed number 15.0, and the variance for seed number in both populations is known to be 25.0. Compare with the results in Section 8.5, Exercise 4....
-
has a small business in the U.S. in which she produces one-of-a-kind jewelry using semi-precious gemstone beads. She purchases a supply of gemstone beads from a company m, and sells several necklaces...
-
1 . Kiteland ( K ) and Airland ( A ) are two economies with total labour of 5 0 and 1 5 0 , respectively. The tastes and preferences of these economies, over the two goods X and Y , are the same and...
-
PowerPoint Presentation X S PowerPoint Presentation e.com/courses/27477/quizzes/64226/take 17 The latest finish time for an activity. O equals min of LS of all immediate following activities O equals...
Study smarter with the SolutionInn App