If $2,000 is invested at 7% compounded (A) annually (B) quarterly (C) monthly what is the amount

Question:

If $2,000 is invested at 7% compounded
(A) annually
(B) quarterly
(C) monthly
what is the amount after 5 years? How much interest is earned?

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

Step by Step Answer:

Related Book For book-img-for-question

College Mathematics for Business Economics Life Sciences and Social Sciences

ISBN: 978-0321614001

12th edition

Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen

See More Books

Question Posted: Apr 14, 2016 07:31 AM

See More Questions

$10,000 is invested at 7% compounded annually. Over the next 25 years, how much of the investments increase in value represents: a. Earnings strictly on the original $10,000 principal? b....
If $20,000 is invested at 4% compounded monthly, what is the amount after (A) 5 years? (B) 8 years?
If $23,000 is invested at 13.5% compounded continuously, what is the amount after 15 years?
Sylvestor Systems borrows $110,000 cash on May 15, 2016, by signing a 60-day, 12% note. 1. On what date does this note mature? 2. Suppose the face value of the note equals $110,000, the principal of...
A large Coca- Cola vendor recently hired some economic analysts to assess the effect of a price increase in its 16-ounce bottles from $ 1.00 to $ 2.00. The analysts determined that, on average, the...
The heights and SAT scores of randomly selected subjects who take the SAT. Exercises 916, list pairs of variables. For each pair, state whether you believe the two variables are correlated. If you...
Describe the working of a cone clutch. Why a cone clutch has become obsolete ?
The merchandise inventory was destroyed by fire on August 19. The following data were obtained from the accounting records: a. Estimate the cost of the merchandise destroyed. b. Briefly describe the...
Calculate C in the units of d 2 /AU 3 for each orbital body listed in this table. Use the formula T 2 = Ca 3 and the proper number of significant digits in your value for C. The first one has been...
A thin, flat plate that is 0.2 m by 0.2 m on a side with extremely rough top and bottom surfaces is placed in a wind tunnel so that its surfaces are parallel to an atmospheric air stream having a...
In Problem, use compound interest formula (1) to find each of the indicated values. P = $2,800; I = 0.003; n = 24; A = ?
Discuss the similarities and differences in the graphs of future value A as a function of time t for loans of $4,000, $8,000, and $12,000, respectively, each at 7.5% compounded monthly for 8 years...
Let S be a nonempty set and let d be the discrete metric defined in 11.4.2(f). Show that in the metric space (S, d), a sequence (xn) in S converges to x if and only if there is a K N such that xn =...
What is a business plan? What are the advantages of preparing a business plan for a new venture? Explain your answer.
Company strategies cant be executed well without a number of support systems to carry on business operations. Using your universitys library resources, search for recent articles that discuss how a...
What restrictions apply to the dividendsreceived deduction of dividends received from debt-financed stock purchases?
What is the purpose of an assumptions sheet? Why is it important to include an assumptions sheet in a business plans financial section?
Mara transferred assets to Con Co. on May 15, 2018. Mara acquired the assets on June 15,2015 . What is Con Co.'s holding period for the assets?
What recommendation would you make as to how to label the warranty in marketing campaigns? Why?
Anne is employed by Bradley Contracting Company. Bradley has a $1.3 million contract to build a small group of outbuildings in a national park. Anne alleges that Bradley Contracting has discriminated...
The French physician Poiseuille was the first to discover that blood flows faster near the center of an artery than near the edge. Experimental evidence has shown that the rate of flow v (in...
Graph Problem using a calculator and point-by-point plotting. Indicate increasing and decreasing intervals. y = |ln x|
Table 5 shows state income tax rates for married couples filing a joint return in Louisiana. (A) Write a piecewise definition for T(x), the tax due on a taxable income of x dollars. (B) Graph T(x)....
Write the following system as a vector equation involving a linear combination of vectors. 5x1 2x2 x3 = 2 4x1 + 3x3 = 1
Q6. Determine whether the following improper integrals converge or diverge. [3,3,3] (e) 1 x ln(x) -dx. 1
Find the amount in the account for the given principal, interest rate, time, and compounding period. P=$1,100,r=2.1%,t=7 years; compounded continuously.

If $2,000 is invested at 7% compounded (A) annually (B) quarterly (C) monthly what is the amount

Question:

Step by Step Answer:

P 2000 r 7 A m 1 i 007 n 5 A P1 i n 2000107 5 280510 I...View the full answer

College Mathematics for Business Economics Life Sciences and Social Sciences

Students also viewed these Finance questions