Question: How long will it take for you to get $100,000.00 if you invest $5000.00 in an account giving you 9.7% interest, compounded Cintinuously? Round your

How long will it take for you to get $100,000.00 if you invest $5000.00 in an account giving you 9.7% interest, compounded Cintinuously? Round your answer to the nearest tenth.

Step by Step Solution

★★★★★

3.37 Rating (147 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

A Pert 100000 5000 2007... View full answer

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 Accounting Questions!

The histogram shows the distribution of self-reported numbers of hours of exercise per week for 50 community college students. This graph uses a right-hand rule: Someone who exercised for exactly 4...

To the nearest month, how long will it take an investment to increase in value by 200% if it earns 7.5% compounded semiannually?

To the nearest day, how long will it take a $20,000 investment to grow to $22,000 (including accrued interest) if it earns 7% compounded quarterly? Assume that a quarter year has 91 days.

How long will it take a payment of $500 per quarter to amortize a loan of $8,000 at 16% compounded quarterly? Approximate your answer in terms of years and months. How much less time will it take if...

Gaston Company manufactures furniture. One of its product lines is an economy-line kitchen table. During last year, Gaston produced and sold 100,000 units for $100 per unit. Sales of the table are on...

The cash price of a small house is $40,000. The owner of the house agrees to sell you the house in return for your promise to pay $5000 down and $1,000 at the end of each month. If the annual...

Your grandfather will sell you a beach front property for $72,500. He says the price is firm whenever you can pay him cash. You know that your finances will only allow you to save $5,000 a year and...

Each year you invest $2,000 in an account that earns 5 percent annually. How long will it take for you to accumulate $50,000?

Gaston Company manufactures furniture. One of its product lines is an economy-line kitchen table. During the last year, Gaston produced and sold 100,000 units for $100 per unit. Sales of the table...

You are in financial trouble and are delinquent on your mortgage payment. Your bank has agreed to a repayment schedule of $1,600 per month, and it will charge 0.5% per month interest on the...

You have $30,000, and you are making the decision between consumption and investment. You are considering either using all of the money to buy a new car or investing the whole amount. You have two...

Edward Co. is a nutritional supplement firm that sells protein bars containing three substitutable materials: Vegan chocolate chips (Chips), Pea protein (Pea Protein) and Macha derivatives (Macha)....

Refer to the information presented in PB8-4 regarding Boscoe Power Tools. January .... 8,000 February .... 7,400 March .... 8,700 April .... 9,500 May .... 9,150 Required: Prepare the following for...

Anne Mulcahy, CEO of Xerox, believes that her ability to handle criticis effective leader training program is: Individual awareness Feedback and follow - up Assessment Challenging experiences

A citrus farmer would like to estimate the true mean weight (in grams) of all oranges grown in his orange grove. Based on a random sample of 100 oranges, a 97% confidence interval for is calculated...

You need to consider that you are working in a team with two to four people (a minimum of three including yourself). Your task is to identify, establish and document your teams purpose, roles,...

Suppose that IQs of adult Canadians follow a normal distribution with a standard deviation of 15. A random sample of 25 adult Canadians has a mean IQ of 112. a. The margin of error for a 93%...

1. Using a web browser, search for information related to preparing an organization against terrorist attacks. Look up information on anthrax or another biological attack (like small pox), sarin or...

A 7 percent coupon bond has a face value of $1000 and pays interest annually. The current yield is 6.8 percent. What is the current price of this bond?

are there a financial limitation on the services clients receives or wishes to use

Waris.Ge Applicator pendent Frecuente Applicator Tracking at Cet hom ws.com walmart K Registration | Kood Vretta Mall - Asha Venkat ..Workday-Shopo Overview Tange Financial Planning and Economies...

Question : What are the criteria Caroline and Phillip should use to select the second pilot? 1) State and define at least four criteria; 2) Specify a metric to evaluate each criterion to determine...

3. (MAC) Consider a multi-access link where there are 4 nodes sharing the link's bandwidth, B bps. During the day, users of the 4 nodes are all working and need to send data. During the night, only...

Please Answer the following questions regarding compound interest. Vital Credit Card Information*: No annual fee Variable 27.24% APR based on prime rate** Late payment fee: up to $40.00 Questions: P...

Structure your organization's work to encourage wise choices. by John Beshears and Francesca Gino Leaders as Decision Architects ALL li"PLOYEES, from CEOs to frontline workers, commit preventab}e...