limcollege.blackboard.com This Week\'s Work-MATH1100-09-FA17-00-0 Outlook Web Ap

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limcollege.blackboard.com This Week's Work-MATH1100-09-FA17-00-0 Outlook Web App Path: p QUESTION 13 if $20,000 is invested at 8% interest compounded quarterly, find the interest earned in 10 years Round to the nearest cent. Use the formula: S-q1+- a $44.160.79 b·$24,160.79 c.$22,844 02 d.$24,000. QUESTION 14 what lump sum must be invested at 10%, compounded monthly, for the investment to grow to to S65.000 in 15 years? Use the formula: P"- b$15,000 d.$15,039.53 QUESTION 15 Ctick Sate and Submit to sove and subenit. Click Soee Al Answers to save all onsseers Save All Answors 8 2 3 4

Explanation / Answer

1) S = P (1 + r/k)kt

= 20000(1 + 8/400)4 * 10

= 20000(1 + 1/50)40

= 20000(51/50)40

= 44160.79

CI = S - P

= 44160.79 - 20000

= 24160.79

Option-B is correct

2) P = S/(1 + i)n

= 65000/(1 + 10/1200)12 * 15

= 65000/(121/120)180

= 14593.89

Option-C is correct

=

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