Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. suppose that an amount of $1600 is invested into a

Suppose that an amount of $1600 is invested into an account that earns 3.2%compounded continuously.a)...

80.2K

Verified Solution

Question

Basic Math

image

Suppose that an amount of $1600 is invested into an account that earns 3.2%compounded continuously.a) How much is in the account after 7 years?b) How long does it take for the balance in the account to reach $3000?c) Suppose that after a period of four years, the balance is withdrawn and investedinto a new account that earns 4.6% compounded monthly. How much would bein that new account 7 years from now?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

reflex arc and reflexes assessment b. holes human

Biology
Q

Viejol Corporation has collected the following information after its first year of sales. Sales were $1,600,000...

Accounting
Q

Chose the right answer a) If we decrease the size of a quantum dot that contains...

Physics
Q

Question 3 Points 1 Which of these is NOT among the reasons that some states...

Biology
Q

Thursday Amanda there are many advantages as well as issues with bureaucracy As you mentioned...

Basic Math
Q

I only need Required 2 completed. All boxes must be used! Wolfpack Company...

Accounting
Q

IFRS generally requires financial statements to be on an accrual basis to provide a clear...

Accounting
Q

Fees earned but unbilled on April 30 were $9,950.

Accounting
Q

Alpha's net accounts receivable were $500,000 at December 31, 2015, and $600,000 at December 31,...

Accounting
Q

Assume that there is no storage or other carrying costs/value for corn. Assume that corn...

Accounting
Q

DNUD eBook Problem 7-45 (LO. 5) Zeta Corporation is interested in acquiring Tau Corporation through...

Accounting
Q

Mercury Company has only one inventory pool. On December 31, 2024, Mercury adopted the dollar-value...

Accounting