All categories

2 years ago

ind the present value that will grow to $4000 if the annual interest rate is 8.5% compounded quarterly for 9 yr.

Mathematics

1 answer:

frozen [14]2 years ago

4 0

Answer:

$1876.31

Step-by-step explanation:

The present value can be found using the compound interest formula.

<h3>Present value</h3>

The formula for the future value of an investment of P earning annual interest rate r compounded n times per year for t years is ...

FV = P(1 +r/n)^(nt)

Filling in the known values gives ...

4000 = P(1 +0.085/4)^(4·9) = P(1.02125^36)

Then the amount to be invested is ...

P = 4000/1.02125^36 ≈ 1876.31

The present value is $1876.31.

You might be interested in

What is the solution to this system of equations? 2t + w = 10 4t = 20 − 2w A. It has no solution. B. It has infinite solutions.

joja [24]

Answer:

<h3>B. It has infinite solutions</h3>

Step-by-step explanation:

Given the system of equations:

2t + w = 10 ..... 1

4t = 20 − 2w ... 2

From 1:

w = 10-2t ...3

Substitute 3 into 2 to have;

4t = 20 - 2(10-2t)

4t = 20-20+4t

4t = 4t

Let t = k

Substitute t = k into 1 and get w;

From 1: 2t + w = 10

2k + w =10

w = 10 - 2k

<em>k can take any integers. This shows that the solution to the equation is infinite</em>

7 0

3 years ago

Which of the following equations represents the line with a slope of -7/4 and a y-intercept of -11?

san4es73 [151]

Answer:

y = -7/4x - 11

Step-by-step explanation:

formula is y = mx + b

m is the slope

b is the y intercept

y = -7/4x -11

which is the first one

3 0

2 years ago

How to multiply (x + 1)^3

ElenaW [278]

Solution is x+1
Hope this helps

8 0

3 years ago

Read 2 more answers

A number that is a factor of two or more numbers is a_________________.

Kipish [7]

Common factor because its used more than once so its common

3 0

3 years ago

Read 2 more answers

Craig hiked for 7/10 mile and stopped to take pics. Then he hiked 25/100 mile. How far did he hike in all

Lena [83]

Craig hiked for 19/20 miles in total

4 0

3 years ago

Read 2 more answers

ind the present value that will grow to ​$4000 if the annual interest rate is ​8.5% compounded quarterly for 9 yr.

ind the present value that will grow to $4000 if the annual interest rate is 8.5% compounded quarterly for 9 yr.