How much would you have to invest into a 6-year certificate of deposit paying 3.7% compounded...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
How much would you have to invest into a 6-year certificate of deposit paying 3.7% compounded weekly to make it worth $3000 at the end of the term? Do not round any intermediate computations. Round your answer to the nearest cent. You would have to invest $ into the certificate of deposit now. X How much would you have to invest into a 6-year certificate of deposit paying 3.7% compounded weekly to make it worth $3000 at the end of the term? Do not round any intermediate computations. Round your answer to the nearest cent. You would have to invest $ into the certificate of deposit now. X
Expert Answer:
Answer rating: 100% (QA)
To calculate the amount you would have to invest into a 6year certifica... View the full answer
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
Posted Date:
Students also viewed these databases questions
-
Find general solutions of the systems in Problems 1 through 22. In Problems 1 through 6, use a computer system or graphing calculator to construct a direction field and typical solution curves for...
-
For the following exercises, estimate the functional values and the limits from the graph of the function f provided in Figure 14. -5-4-3-2-1 y -5-- m 2 2 3 III (f(x) 1 2 3 4 5 Figure 14 X
-
Which of (A) or (B) in Figure 12 is the contour plot of a potential function for the vector field F? Recall that the gradient vectors are perpendicular to the level curves. y (A) X y > X y (B) x
-
The following data have been extracted from the financial statements of Prentiss, Inc., a calendar-year merchandising corporation: Total sales for 2018 were $1,200,000 and for 2017 were $1,100,000....
-
The average speed of a perfume-vapor molecule at room temperature may be about 300 m/s, but you'll find the speed at which the scent travels across the room is much less. Why?
-
Part 1 Materiality W&S Partners commenced the planning phase of the Cloud 9 audit with procedures to gain an understanding of the client's structure and its business environment. You have completed...
-
Using the software development life cycle approach, do we apply project management principles to software development? Elaborate on your answer.
-
1. Wages and prices will increase when actual output exceeds potential. __________(True/False) 2. The short run in macroeconomics is the time period over which __________do not adjust to economic...
-
On January 1, 2022, Halstead, Incorporated, purchased 71,000 shares of Sedgwick Company common stock for $1,554,000, giving Halstead 25 percent ownership and the ability to apply significant...
-
1. Are Kellermans calculations correct? These are the first items to verify. 2. Take a close look at the data using appropriate statistical methods. 3. Are Kellermans conclusions correct? If so, why...
-
Table 1 records the hourly wage rate, in U.S. Dollars, and education, in years, for a random sample of 10 individuals. Table 1: Wage Rate and Education Individual Wage Rate (U.S. Dollars) Education...
-
Derive the Bernoullis equation.
-
What are the different types of the efficiency of a turbine? Define each.
-
How does a hydraulic turbine differ from the hydraulic pump?
-
Derive the rise and fall of capillary action in a tube.
-
Explain the classification of springs?
-
For the given data, do the following: 1. Make a scatterplot. 2. Find the LSRL (regression Line) to predict price. 3. Interpret the slope on the context of the problem. 4. Interpret the y-intercept on...
-
Show that if A is any m n matrix, then Im A = A and AIn = A.
-
A deposit of $4000 is made today for a five-year period. For how long can $500 be withdrawn from the account at the end of every three months starting three months after the end of the five-year term...
-
a. What is the cost per camera (ignoring taxes) for Edwards Electronics and for Sears? b. For each store, what is the minimum selling price required to cover cost, over-head, and desired profits? c....
-
Twenty $5000 bonds redeemable at par bearing 8.4% coupons payable quarterly are sold eight years before maturity to yield 8.0% compounded annually. What is the purchase price of the bonds?
-
A child on a sled slides down an icy slope, starting at a speed of \(2.5 \mathrm{~m} / \mathrm{s}\). The slope makes a \(15^{\circ}\) angle with the horizontal. After sliding \(10 \mathrm{~m}\) down...
-
You hold a puck at the top of an ice-covered ramp inclined at \(60^{\circ}\) with respect to the vertical. Your friend stands nearby on level ground and holds a ball at the same height \(h\) above...
-
You throw a ball straight up with an initial speed of \(10 \mathrm{~m} / \mathrm{s}\). (a) What is the ball's instantaneous acceleration at instant \(t_{1}\), just after it leaves your hand; at...
Study smarter with the SolutionInn App