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...
-
Simba Companys standard materials cost per unit of output is R100 (2 kilograms R50). During July, the company purchases and uses 3,200 kilograms of materials costing R161,920 in making 1,500 units...
-
Texas Inpatient Consultants, LLLP, is a partnership that employs physicians to deliver medical care to hospitalized patients of other physicians. Texas Inpatient recruited Julius Tabe, M.D., to work...
-
Cooper River Glass Works (CRGW) produces four different models of desk lamps as shown in Figure. The operations manager knows that total monthly demand exceeds the capacity available for production....
-
Keeley and Roy are concerned about their financial future and meeting their goals. They are 38 years old with twin girls, Abigail and Laryssa age 8. Keeley is a public relations account executive...
-
a. Calculate the payback period in a table. The first three columns of the table will be the year, the cash flow for that year, and the cumulative cash flow. The fourth column will show the whole...
-
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?
-
What are the primary similarities and differences between job enrichment and the approach proposed by job characteristics theory?
-
Goal linear programming is an extension of an LP that aims to optimise, instead of satisfying, what is stated in the objective function. a. True b. False
-
If the feasible region gets larger due to a change in one of the constraints, the optimal value of the objective function a. must increase or remain the same for a maximization problem. b. must...
-
Refer to the Boeing- Airbus dispute. What have been some of the central rulings of WTO panels since the inception of the dispute? Did Boeing have a prime- mover advantage? Why?
-
When alternate optimal solutions exist in an LP problem, then a. the objective function will be parallel to one of the constraints. b. one of the constraints will be redundant. c. two constraints...
-
In facility location problems, how many transportation models need to be developed to determine the best location of a new production facility?
-
In support of the Fed's monetary policy prior to the deflation of the home prices bubble, one can argue that the reality is that increasing the money supply and low-interest rates were required to...
-
Find the velocity, acceleration, and speed of a particle with the given position function. r(t) = (t 2 , sin t - t cos t, cos t + t sin t), t > 0
-
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...
-
Was Gildan only a victim of changing social values in Canada or was it in the wrong? Explain in not more than 60 words
-
Discussing the cases of Ethical leadership of Ratan tata and Boeings Corporate Governance crisis in the light of good governance practises and theories of Ethics, its failures and lessons to India....
-
The position of the ball at any given time can be found using the equation of motion: s(t) = ut + 0.5at 2 + s0 where: s(t) is the position of the ball at time t, u is the initial velocity, a is the...
Study smarter with the SolutionInn App