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44. [-11 Points] DETAILS TANFIN12 5.1.020. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the accumulated amount A if t
Posted: Thu May 12, 2022 11:15 am
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- 44 11 Points Details Tanfin12 5 1 020 My Notes Ask Your Teacher Practice Another Find The Accumulated Amount A If T 1 (62.27 KiB) Viewed 18 times
44. [-11 Points] DETAILS TANFIN12 5.1.020. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Find the accumulated amount A if the principal P is invested at the interest rate of r/year for t years. (Use a 365-day year. Round your answer to the nearest cent.) P = $280,000, r = 32%, t = 2, compounded daily A = $ Need Help? Read It 45. [-/1 Points] DETAILS TANFIN125.2.021. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Luis has $100,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $2000/quarter into the new account until his retirement 30 years from now. If the new account earns interest at the rate of 2.5%/year compounded quarterly, how much will Luis have in his account at the time of his retirement? Hint: Use the compound interest formula and the annuity formula. (Round your answer to the nearest cent.) $ Need Help? Read It Watch It