Question: If $1000 is invested at 4% per annum compounded semiannually, how much is in the account after 2 years?

If $1000 is invested at 4% per annum compounded semiannually, how much is in the account after 2 years?

Step by Step Solution

★★★★★

3.49 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

004 2... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Precalculus Questions!

Q:

A rod AB, hinged at A and attached at B to cable BD, supports the loads shown. Knowing that d = 150 mm, determine (a) The tension in cable BD, (b) The reaction at A. Ao -d- 90 N Do 90 N -100 mm 100...

Q:

If $1000 is invested at 10% compounded continuously, the future value S at any time t (in years) is given by S = 1000e0.1t. (a) What is the amount after 1 year? (b) How long before the investment...

Q:

1. The sales decay for a product is given by S = 50,000e-0.6x, where S is the monthly sales (in dollars) and x is the number of months that have passed since the end of an advertising campaign. What...

Q:

If $1000 is invested at 6% interest, compounded annually, then after years the investment is worth an = 1000(1.06)n dollars. (a) Find the first five terms of the sequence {an}. (b) Is the sequence...

Q:

QUESTION 1 PERSONAL INVESTMENT (20 Marks) You just graduated from university You plan to work for five years and then go backpacking through Asia. You figure that you can save $3,500 a year for the...

Q:

What is the cash price of a car, which can be paid off in 4 years, if the monthly payments are $450 at 12% compounded monthly? 12. Jimmy won $ 100 000 on a lottery and, after applying a significant...

Q:

( a ) Find the present value of a 10-year annuity of $8000 per annum, given the interest rate of 6% for the first year, 7% for the second year, 8% for the third year, 9% for the fourth year, and 10%...

Q:

Assume Swifty Corporation deposits $88000 with First National Bank in an account earning interest at 4% per annum, compounded semi-annually. How much will Swifty have in the account after 6 years if...

Q:

Horace and Myrtle want to buy a house. Their banker offered them $95,000 loan today at a 12% annual rate for 20 years. What will their monthly payment be if they make equal monthly instalments (at...

Q:

3. Assume Concord Corporation deposits $87000 with First National Bank in an account earning interest at 4% per annum, compounded semi-annually. How much will Concord have in the account after 4...

Q:

Question 3 2 pts Which inventory costing method does a better job of matching revenues with a current measure of cost of goods sold: None of these are correct Both FIFO and LIFO methods approximate...

Q:

The Graham Telephone Company may invest in new switching equipment. There are three possible outcomes, having net present worth of $6570, $8590, and $9730. The probability of each outcome is 0.3,...

Q:

How does a review of the financial statements of a nonpublic company differ from an audit?

Q:

A Disgruntled employee is a form of: insider threat, databreach, behaviuoural threat, inner risk

Q:

=+Questions 21 and 22 relate to the first months operations of NewBank.

Q:

In Problems 5 44 , solve each logarithmic equation. Express irrational solutions in exact form. In(x + 1) In x = 2

Q:

In Problems 2936, suppose that ln 2 = a and ln 3 = b. Use properties of logarithms to write each logarithm in terms of a and b. In

Q:

In Problems 1328, use properties of logarithms to find the exact value of each expression. Do not use a calculator. 5 log 5 6+log 5 7

Q:

Dillon Labs has asked its financial manager to measure the cost of each specific type of capital as well as the weighted average cost of capital. The weighted average cost is to be measured by using...

Q:

Assume that your company recently reported net income of $2,100,000, a tax rate of 40 percent, had interest expense of $400,000 on $10,000,000 of debt, and a return on assets (ROA) of 7 percent. Also...

Q:

The Bowman Corporation has $20 million bond obligation outstanding, which is considering refunding. Though the bonds were issued at 12 percent, the interest rates on similar issues have declined to...