Principal, $7000, is invested at 9 interest for eight years Determine its future value if the interest is compounded (a) annually (b) semi annually (c) monthly (d) continuously ...

Solution Principal P 7000 Rate R 9 Time t 8 years Annually C P fou ...

Principal, $7000, is invested at 9% interest for eight years. Determine its future value if the interest

Fantastic news! We've Found the answer you've been seeking!

Question:

Principal, $7000, is invested at 9% interest for eight years. Determine its future value if the interest is compounded
(a) annually
(b) semi-annually
(c) monthly
(d) continuously

Related Book For answer-question

Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

See More Books

Posted Date: Jul 07, 2022 06:55 AM

See More Questions

Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
This problem demonstrates the dependence of the future value of an annuity on the interest rate. Suppose $1000 is invested at the end of each year for 20 years. Calculate the future value if the...
Gems Co. uses the indirect method to prepare its statement of cash flows. The following comparative statement of financial position for 2021 and 2022 are presented: At December 31 2022 2021 Property,...
Auburn Banking and Loan Company has a graphic design department that designs loan forms and other documents used by the companys two subsidiaries, Auburn Personal Banking and Auburn Business Banking....
Consider the B+ tree index of order d = 2 shown in Figure 10.1. 1. Show the tree that would result from inserting a data entry with key 9 into this tree. 2. Show the B+ tree that would result from...
Singh Enterprises has an accounting year to 31 December and uses the straight-line method of depreciation. On 1 January 2006 the business bought a machine for 10,000. The machine had an expected...
A dated box of dates, of mass 5.00 kg, is sent sliding up a frictionless ramp at an angle of to the horizontal. Figure gives, as a function of time t, the component vx of the box's velocity along an...
INCOME STATEMENT, 2019 Sales Costs $1,650 320 Interest 60 Taxes 270 Net income $ 1,000 BALANCE SHEET, YEAR-END 2018 2019 Assets $ 5,400 $ 5,700 Debt Total $5,400 $5,700 Equity Total 2018 2019 $ 1,800...
1. Who are Goodwill's customers and how have their demographics changed over time? 2. How should the introduction of for-profit thrifts affect Goodwill's decisions about the role of customer service?...
Given that the five (5) departments are to be in a building of 6 X 8. The expected personnel traffic flows and area requirements for the departments are shown in Table 1 below. (The unit of distance...
current assets $1,951,200 current liabilities $573,200 inventory $700,000 what is the current ratio? what is the quick ratio?
In its first month of operations, Bramble Company made three purchases of merchandise in the following sequence: (1) 330 units at $6, (2) 430 units at $7, and (3) 210 units at $8. Assuming there are...
At what speed does a 1600 kg compact car have the same kinetic energy as a 19000 kg truck going 21 km/h? Express your answer in kilometers per hour.
What are the Ten (10) Positive Influences on International Finance and Corporate Business Operations?
Due to the coronavirus, interest rates are being kept low by the government, how will this impact investment? Explain and provide examples.
Write a business letter addressed to the Mr. Smith evaluating the feasibility of the DTC model and its potential impact on GreenLeaf's supply chain operations. The letter should include the...
Avatar Financials, Inc., located on Madison Avenue, New York City, is a company that provides financial advice to individuals and small- to mid-sized businesses. Its primary operations are in wealth...
Evaluate each of the following expressions for the given values of the variables. In problem, maintain five-figure accuracy. (1 + it) m 1; for i = 0.0225,m= 4
Lanark Industries produced 580,000 USB memory sticks last year. Total costs last year were $3,710,000, which included $3,335,000 of total variable costs. If fixed costs and unit variable costs do not...
How much more will an investment of $10,000 earning 2% compounded annually be worth after 25 years than after 20 years? Calculate the difference in dollars and as a percentage of the smaller maturity...
Find the fundamental natural frequency of vibration of a uniform beam of length $l$ that is fixed at one end and simply supported at the other end. Assume the deflection shape of the beam to be...
Determine the fundamental frequency of a uniform fixed-fixed beam carrying a mass $M$ at the middle by applying Rayleigh's method. Use the static deflection curve for $W(x)$.
Applying Rayleigh's method, determine the fundamental frequency of a cantilever beam (fixed at $x=l$ ) whose cross-sectional area $A(x)$ and moment of inertia $I(x)$ vary as \(A(x)=A_{0} x /...

Principal, $7000, is invested at 9% interest for eight years. Determine its future value if the interest

Question:

Expert Answer:

Solution Principal P 7000 Rate R 9 Time t 8 years Annually C P fou ... View the full answer

Fundamentals Of Business Mathematics In Canada

Students also viewed these finance questions