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bonufazy [111]
3 years ago
5

Andrea davis plans to invest $600 into a money market account. find the interest rate that is needed for the money to grow to $1

240 in 14 years if the interest rate is compounded continuously
Business
1 answer:
Anna35 [415]3 years ago
6 0

Answer:

The interest rate is 5.2%

Explanation:

A = Pe^rt

A = $1240

P = $600

t = 14 years

1240 = 600e^14r

e^14r = 1240/600 = 2.067

e^14r = 2.067

14r = ln 2.067

14r = 0.726

r = 0.726/14 = 0.052 = 5.2%

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The principal supplier(s) of U.S. dollars to the foreign exchange market is/are Group of answer choices
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Answer:

U.S. households or firms wishing to purchase foreign goods or assets.

6 0
3 years ago
.In 2027, instead of cashing in the bond for its then current value, you decide to hold the bond until it doubles in face value
cricket20 [7]

Answer:

The question is not complete,find below complete questions:

If you purchased a $50 face value bond in early 2017 at the then current interest rate of .10 percent per year, how much would the bond be worth in 2027? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. In 2027, instead of cashing the bond in for its then current value, you decide to hold the bond until it doubles in face value in 2037. What annual rate of return will you earn over the last 10 years?

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The annual rate of return is 7.07%

Explanation:

The future value of the bond is given by the below formula:

FV=PV*(1+r)^N

where PV  is the present of the bond of $50

r is the rate of return of 0.10 percent=0.001

N is the duration of the bond investment of 10 years

FV=50*(1+0.001 )^10

FV=$50.50

However for the face of the bond to double i.e to $100, the rate of return can be computed thus:

r=(FV/PV)^(1/N)-1

where FV=$100 (double of $50)

FV=$50.50(current value in 2027)

N=10

r=($100/$50.50)^(1/10)-1

r=0.070707543

r=7.07%

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3 years ago
What is the amount of money you still owe to their credit card company called?
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8 0
3 years ago
Mathematics VII
dsp73

Answer:

6 inch + 6 inch = 1 foot, so you will get 16, 6 inch sections!

Hope this helps!

Have a nice day!

Explanation:

6 0
2 years ago
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