Find the balance in an account when $400 is deposited for 11 years at an interest rate
Question:
Find the balance in an account when $400 is deposited for 11 years at an interest rate of 2% compounded continuously.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
The formula for continuous compounding is A Pert where A is the balance P i...View the full answer
Answered By
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Calculus Of A Single Variable
ISBN: 9781337275361
11th Edition
Authors: Ron Larson, Bruce H. Edwards
Question Posted:
Students also viewed these Mathematics questions
-
Find the balance in an account when $1000 is deposited for 8 years at an interest rate of 4% compounded continuously.
-
What is the balance in an account at the end of 10 years if $6,300 is deposited today and the account earns 2.5% interest compounded annually? How much interest is earned in an account by the end of...
-
For the past 6 years Joe Borelli has made deposits of $300 at the end of every 6 months, earning interest at 5% compounded semi-annually. If he leaves the accumulated balance in an account earning 6%...
-
A mail-order firm processes 5,300 checks per month. Of these, 60 percent are for $55 and 40 percent are for $80. The $55 checks are delayed two days on average; the $80 checks are delayed three days...
-
Assume that David and Tom Gardner of The Motley Fool (Fool.com) have impressed you since you first heard of their rather improbable rise to prominence in financial circles. You learn of a staff...
-
Determine whether each of these integers is prime. a) 21 b) 29 c) 71 d) 97 e) 111 f) 143
-
Choose a product and sell it using the FAB methodology.
-
On December 1, 2013, the Itami Wholesale Company is attempting to project cash receipts and disbursements through January 31, 2014. On January 31, 2014, a note will be payable in the amount of...
-
Describe who chairs the National Prevention, Health Promotion, and Public Health Council (NPC)?
-
Bright Sparks Electrical - Bank Register Report: Now that you have completed the journals for the month, you need to prepare the Bank Register Report in the template below. Not all general journals...
-
The sales S (in thousands of units) of a new product after it has been on the market for t years is given by S = 25(1 - e kt ). (a) Find S as a function of t when 4000 units have been sold after 1...
-
Find an equation of the curve that passes through the point and has the given slope. (8, 2), y' = 2y/3x
-
This case suggests that the application of HR procedures takes time and in the process good candidates may disengage with the process because they are unlikely to have just one application live at...
-
1. What is the amount of Net Sales that ABC would report on itsIncome Statement? 2. What is the amount of Gross Profit that ABC would report onits Income Statement? 3. What is the TOTAL amount of...
-
What are the key components of a web application architecture? explain with Example
-
If the details of the soybean case were actually brought before the WTO, explain what the WTO ruling would likely be and why.?
-
What would the 4'P for a dental office be that provides Dental Crown, Teeth Whitening, Root Canal Dental, Hygiene Services, Dental Implant, Abscess Incision and Drainage, Cosmetic Procedures, Teeth...
-
In the paper market, the demand for paper decreases. The table above shows the new market paper demand schedule. The market is perfectly competitive and each company has the costs shown in the table...
-
Larry and Sue separated at the end of the year. Larry has asked Sue to sign a joint income tax return for the year because he feels that the tax will be lower on a joint return. Larry and Sue both...
-
A copper wire (density = 8.96 g/cm 3 ) has a diameter of 0.25 mm. If a sample of this copper wire has a mass of 22 g, how long is the wire?
-
In Exercises use integration tables to find or evaluate the integral. 0 /2 X 1 + sin x -dx
-
In Exercises use integration tables to find or evaluate the integral. S X /4+5x dx
-
In Exercises determine whether the improper integral diverges or converges. Evaluate the integral if it converges, and check your results with the results obtained by using the integration...
-
Draw the fundamental diagram of the traffic flow according to the Greenberg and Underwood assumption.
-
Heidi and Hank are married taxpayers filing a joint return. In 2023, they reported $92,000 of taxable income, including $8,000 of net long-term capital gain. What amount of their taxable income will...
-
Discuss the various approaches that healthcare organizations can use to manage their workforce effectively.
Study smarter with the SolutionInn App