formulas: y(t)= Ao(1+r)^t y(t)= Ao(1+r/n)^nt 5. Here, 6,000 is invested at a 4%
ID: 3102868 • Letter: F
Question
formulas: y(t)= Ao(1+r)^t
y(t)= Ao(1+r/n)^nt
5. Here, 6,000 is invested at a 4% annual interest rate for 5 yrs.
How will the investment change if part of the interest is given
ahead of time? Formulas for A and B
*Annually once yr. A. quarterly (4x yr) B. Monthly(12)
y= 6000(1+.04)^t 0 = 6,000 0 = 6,000
0 = 6,000 i need all up to 5 yrs Need up to 5 yrs.
1 = 6,240
so on
C. What would be in the account after 5 yrs if a little of the interest is given weekly?
D. what if interest accrues daily?
Explanation / Answer
For C. Interest accrues weekly all of your numbers will be the same except for your value of n. You will plug in 0 = 6000, r = .04, t = 5, and for n you'd use n = 52, because there are 52 weeks in a year. For D. Interest accrues daily so all of your numbers will be the exact same except you'd use another new value for n. You will plug in 0 = 6000, r=.04, t = 5, and for n you'd use n = 365, because there are 365 days in a year. It's been a long while since I've done this stuff, but I'm pretty sure that's right. I'm new to cramster and don't know how everything works or what tools we have to use, but If you need help with the Algebra part of it you can message me and i'd help you! I don't know if there is personal messaging on this site, but if there is I'd help!
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