Question: kt How much time will be needed for $25,000 to grow to $26,015.10 if deposited at 4% compounded quarterly? For calculating use the formula

kt How much time will be needed for $25,000 to grow to

kt How much time will be needed for $25,000 to grow to $26,015.10 if deposited at 4% compounded quarterly? For calculating use the formula A =P 1+ A = P(+) * The amount $25,000 will grow to $26,015.10 in year(s). (Do not round until the final answer. Then round to the nearest tenth as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock 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 Mathematics Questions!

How much time will be needed for 21 000 to grow to 24 371 36 if deposited at 6 kt compounded quarterly For calculating use the formula A P 1 P 1 7 year s The amount 21 000 will grow to 24 371 36 in...

How much time will be needed for $22,000 to grow to $23,580.90 if deposited at 7% compounded quarterly? For calculating use the formula A = P 1 + 1-) k kt

Please help me answer ASAP How much time will be needed for $21,000 to grow to $25, 107.98 if deposited at 6% compounded K The amount $21,000 will grow to $25, 107.98 in year(s). quarterly? For...

number 6 attached below , there is also the solution at the end..but just to explain to me how to do this type of problems for the exam thanks CORPORATE FINANCE AND FINANCIAL INSTITUTIONS II part...

Direction: Solve for the ff. missing value. Show your Solution (5pts each for Compound Interest and 10 pts each for the rest of the number) Present Rate Time/Term Maturity/Future Compound Value Value...

College Algebra Project Saving for the Future In this project you will investigate compound interest, specifically how it applies to the typical retirement plan. For instance, many retirement plans...

Please show solutions 40. What annual deposit into a sinking fund at 5% compounded annually will be needed to raise half a million pesos at the end of 10 years to settle a loan? What is in the fund...

Use formula P = P () (1 + R/k)^ kt where r= interest rate k= compounding frequency per year t= time in yeras p() = initial amount of money ( Hint: Guess with the Rule of 72) 1. Compound Interest....

On June 8, Lawn Ltd. was incorporated and issued 36,000 common shares for $360,000. On August 19, an additional 8,700 shares were issued for $104,400. On November 2, the company paid $34,560 to...

JUST ANSWER THE FIRST PAGE: ALL INFO ARE ALREADY GIVEN PRESENT VALUE OF SIMPLE ANNUITY DUE EXAMPLE: Hope borrows money for the renovation of her house and repays by making yearly payments of P50,...

Given the history of radio, do you think that new innovations in radio and broadcasting will make radio more democratic and accessible, or will regulatory and market forces control access?

Coronano Herbs Sdn Bhd (CHSB) is a resident company that manufactures health and beauty products. The company just started its business on 1.3.2019 with a paid-up capital of RM2 millions. The...

lim x 5 ( 6 x 2 3 ) ( 3 x 8 )

What was the leadership trying to do achieve in setting up the incentives system of pay? What have the incentives taught drivers about their role? What alternative measure can you imagine that you...

In this assignment, you are going to design and develop a GUI (Graphical User Interface) based color- flipping game in python. The game is composed of a rectangular board divided into a number of...

On July 1, 2020, Swan Corp, a publicly traded coffee wholesaler, placed an order with its supplier for five tons of coffee for delivery on November 30, 2020 Payment will also be due on November 30,...

On January 1, 2017, Fargo Corp. enters into a ten-year non-cancellable lease with Wells Ltd. for equipment having an estimated useful life of 11 years and a fair value of $6,000,000. Fargo's...

According to data from the NJ Department of Health, about 21% of New Jerseys population has tested positive for Covid as of April 5, 2022. For a randomly selected sample of 10 New Jersey residents,...

Tori and some other childeen experimented with balls to see which ones rolled. First using a piece of cardboard to use as a ramp, they angled it on a block to the floor to test the balls. Then Tori...

The following projected income statement for More-Power Company is repeated for your convenience. Recall that the projection is based on sales of 75,000 regular sanders and 30,000 mini-sanders....

Minty-Fresh, Inc., manufactures and sells rolls of soft mint candies. Currently, Minty-Fresh produces only one type of mint candy. The mints are packaged in 10-ounce rolls and sold to retailers for...

Sweet Sue, Inc., produces a particularly rich praline fudge. Each 10-ounce box sells for $5.50. Variable unit costs are as follows: Fixed overhead cost is $24,000 per year. Fixed selling and...