One Question Multiple Parts 1 (414.17 KiB) Viewed 12 times
Determine the interest rater needed for an investment to triple in value in 12 years if interest is compounded continuously. Exact interest rate (without using a calculator), r = Interest rate, as a percent, rounded to 2 decimal places = Determine the interest rate r needed for an investment of $5,000 to grow to $9,000 in 7 years if interest is compounded continuously. Exact interest rate (without using a calculator), r = Interest rate, as a percent, rounded to 2 decimal places = Exact interest rate (without using a calculator), r = % Determine the interest rater needed for an investment of $4,000 to grow to $16,000 in 7 years if interest is compounded monthly (i.e., 12 times a year). Interest rate, as a percent, rounded to 2 decimal places = % %
A favorite aunt wishes to establish a trust fund for her nephew's math education. How much should she set aside now if she wants $135,000 in 8 years from now, and interest is compounded continuously at 2%? Exact amount (without using a calculator) = 115039.49689 Amount, rounded to 2 decimal places = 115039.50 X dollars dollars
A favorite uncle wishes to establish a trust fund for his nephew's math education. How much should he set aside now if he wants $105,000 in 7 years from now, and interest is compounded monthly at 48%? Exact amount (without using a calculator) = 83768.12982 Amount, rounded to 2 decimal places = 83768.13 X dollars dollars
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