Questions 8, 9, 10

n Compounds per year Compound Continuously A= Amount P = Principal (initial investment) A= P 1+ A = Pe" r = APR (annual percent rate, decimal) n t = number of years n = number of compounds per year3. How much money needs to be invested now to obtain $2000 in 3 years if the interest rate in a savings account is 0.25%. compounded continuously? Hound your answer to the nearest cent. 0. How much money needs to be invested now to obtain $5000 in 10 years if the interest rate in a CD is 2.25%, compounded monthly? Round your answer to the nearest cent. 10. On May 31 , 2014, the Annual Percentage Rate listed at Jeff's bank for regular savings accounts was 0.25%. compounded monthly. a. If P=2000 what is Ava) ? b. Solve the equation A) = 4000 for t. c. 1le'll'hat principal P should be invested so that the account balance is $2000 in three years