Answer:
(a) The future value after 9 years is $7142.49.
(b) The effective rate is
.
(c) The time to reach $13,000 is 21.88 years.
Step-by-step explanation:
The definition of Continuous Compounding is
If a deposit of
dollars is invested at a rate of interest
compounded continuously for
years, the compound amount is

(a) From the information given



Applying the above formula we get that

The future value after 9 years is $7142.49.
(b) The effective rate is given by

Therefore,

(c) To find the time to reach $13,000, we must solve the equation


LA = perimeter of base x height
Use Pythagorean theorem to find the base
4^2 + 6^2 = 52
Sq root of 52 is 7.2111...
4+6+7.2 = 17.2
17.2 x 8
137.6 is your answer
Answer:
P=646
R=5%
T=2yrs
I=?
I=PRT/100
I= 646*5*2/100
I= 64.6
Step-by-step explanation:
95.97
Answe
Is
95.97
Blab
Bla
Bla
Bla
Bla
Bla
Bla
Bla
Bla 20 20