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4 years ago

Suppose you invest 16000 at 9% interest and that it is compounded daily. How much will you have in 8 years?

Mathematics

1 answer:

forsale [732]4 years ago

5 0

Answer:

Compound interest is calculated by multiplying the initial principal amount by one plus the annual interest rate raised to the number of compound periods minus one.

Step-by-step explanation:

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3 years ago

Find, if it exists, a value c in the interval [1, 4] such that the instantaneous rate of change of f(x) = 12<img src="https://te

ella [17]

Answer:

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Step-by-step explanation:

f(x) is a continuous and differentiable function on the interval, so the Mean Value Theorem guarantees a value for c exists.

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3 years ago

Read 2 more answers

suppose 7,500 is invested at 1.5%, compounded continuously. what will the account balance be in 16 years?

viktelen [127]

Answer:

$\boxed {\boxed {\sf \$9,534.37}}$

Step-by-step explanation:

The formula for continuously compounded is:

$A=Pe^{rt}$

where P is the principal amount, r is the interest rate as a decimal, and t is the amount of time.

The principal amount is $7,500 and time is 16 years. The interest rate is 1.5%. Convert this to a decimal- divide by 100 or move the decimal places two spots to the left.