Find the interest earned on a $25,000 deposit for 2 years at 4.7% interest, compounded continuously. Round

Question:

Find the interest earned on a $25,000 deposit for 2 years at 4.7% interest, compounded continuously. Round to the nearest cent.

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Algebra Advanced Algebra With Financial Applications

ISBN: 9781337271790

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

See More Books

Question Posted: Sep 12, 2022 03:22 AM

See More Questions

Find the interest earned at 3.7%, compounded continuously, for 5 years for the continuous income stream with rate of flow f(t)=200t.
Find the interest earned on $50,000 deposited for 6 years at 11 % 8 interest, compounded continuously. Round to the nearest cent.
Find the interest earned on a $30,000 deposit for 6 months at 11 2% interest, compounded continuously.
Zanny Mouldings has the following estimated costs for the year ahead: Directly used materials $25,100 Direct labor costs $62,300 factory chief salary $37,800 Ad spend 34.000 $ Heating and lighting...
a. In the binomial options pricing model, what assumptions are made about dividends and interest rates? b. In the binomial stock price tree, what restrictions are needed on the up and down factors,...
The rectangular platform is hinged at A and B and is supported by a cable that passes over a frictionless hook at E. Knowing that the tension in the cable is 1349 N, determine the moment about each...
The symmetrical channel shown in Fig. P10.66 is dug in sandy loam soil with $n=0.020$. For such surface material it is recommended that to prevent scouring of the surface the average velocity be no...
The weekly time tickets indicate the following distribution of labor hours for three direct labor employees: The direct labor rate earned per hour by the three employees is as follows: Frank Davis...
respond to the discussion In the IMA article, Activity-Based Costing (ABC) is explained as a cost allocation technique that traces indirect costs (often referred to as "overhead") to specific cost...
Wedding Planners Limited (WP), owned by Anne and Francois Tremblay, provides wedding planning and related services. WP owns a building (the Pavilion) that has been custom-made for hosting weddings....
How long does it take $450 to double at a simple interest rate of 100%?
Rewrite each of the compound interest equations in question 2 as an exponential equation in the standard form a 5bc. Data From Problem Question 2 In each of the following compound interest equations...
Write the complete factored form of the polynomial f(x), given that k is a zero. f(x)=x - 9x + 23x - 15 k = 1
what ways do calligraphers employ "rhythm and flow" to imbue their compositions with a sense of dynamism and elegance ?
How do calligraphers utilize "negative space" to achieve balance and visual clarity within their compositions ?
The influx of regular media not to mention the fast developing technological innovations, improved access to technology, social media and competitor information has led to a more intensified...
What's the partial pressure of carbon dioxide in a container that holds 5 moles of carbon dioxide, 3 moles of nitrogen, and 1 mole of hydrogen and has a total pressure of 1.05 atm?
5x+3 2(y-3) + = -8 3 Step 1 of 2: Express the given equation in slope-intercept form. Simplify your answer. Answer
Show that the identity function IX (example 2.5) is strictly increasing.
A stock has had returns of 8 percent, 26 percent, 14 percent, 17 percent, 31 percent, and 1 percent over the last six years. What are the arithmetic and geometric average returns for the stock?
Use a spreadsheet to generate the last year of payments in a loan amortization table for a $600,000, 15-year mortgage with an APR of 5.5%?
Shannon took out a $300,000, 15-year mortgage with an APR of 7%. The first month she made an extra payment of $400. What was her ending balance at the end of that first month?
Examine the loan amortization table for the last 5 months of a $500,000, 15-year mortgage with an APR of 5.75%. Determine the missing table amounts. Payment Beginning Monthly Towards Towards Ending...
Read Case 16.1: AMEX, Hungary. Answer question #1. AMEX, HUNGARY Case Study - "Michael Thomas shouted, "Sasha, Tor-Tor, we've got to go! Our driver is waiting for us." Thomas's two daughters were...
Please assist with breaking down this discussion including the principles of professional conduct to examine in the AICPA Code of Professional Conduct document: Selected: Public interest (is prime...
Jake Sully works for the Pandora Mining Corporation (hereafter Pandora) as an executive. Pandoras stock is traded on an established securities market. On April 1, 2018, in connection with the...

Find the interest earned on a $25,000 deposit for 2 years at 4.7% interest, compounded continuously. Round

Question:

Step by Step Answer:

Solution The interest is given by iFVPV Where FV is future value and PV is p...View the full answer

Financial Algebra Advanced Algebra With Financial Applications

Students also viewed these Mathematics questions