Description
2 problems based on algebra and interest based on finance
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8. Use either
A=P(1+rn)nt or
A=Pert to answer the following questions.
(a) Find the accumulated value of an investment of $20,000 at 5% compounded
annually for 10 years.
(b) Find the accumulated value of an investment of $20,000 at 5% compounded
semiannually for 10 years.
(c) Find the accumulated value of an investment of $20,000 at 5% compounded
quarterly for 10 years.
(d) Find the accumulated value of an investment of $20,000 at 5% compounded
monthly for 10 years.
(e) Find the accumulated value of an investment of $20,000 at 5% compounded
continuously for 10 years.
9. Explain and find each of the following.
(a) $10,000 invested at 6% compounded annually for 20 years.
(b) $10,000 invested at 6% compounded semiannually for 20 years.
(c) $10,000 invested at 6% compounded quarterly for 20 years.
(d) $10,000 invested at 6% compounded monthly for 20 years.
(e) $10,000 invested at 6% compounded continuously for 20 years.
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Explanation & Answer
Sending the answers in the attached files.I also corrected the formula on the document, maybe the conversion on the word made the equations for the formulas appears wrongly. Just a quickly brief above.P = Principaln = How many times it's compounded per year.Annualy = 1 time per yearSemi-annually = 2 times per yearQuarterly = 4 times per yearMonthly = 12 times per year.r = ratet = time in years.
π ππ‘
8. Use either
π΄ = π (1 + π) or
π΄ = ππ ππ‘ to answer the following questions.
(a) Find the accumulated value of an investment of $20,000 at 5% compounded annually
for 10 years.
0.05 1π₯10
π΄ = 20,000 (1 +
)
= 32,577.89
1
(b)...
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