A principal of ​$6000 is invested in an account paying an annual rate of 5​%. Find the amount in the account after 4 years if the account is compounded​ semiannually, quarterly, and monthly. ​(a) The amount in the account after 4 years if the account is compounded semiannually is ​$ nothing. ​(Round to the nearest​ cent.)

Answers

Answer 1

Solution :

Given :

Principal amount deposited, P = $ 6000

Rate of interest, r = 5%

Number of years, t = 4 years

When the deposited amount is compounded semiannually, i.e. n = 2

Therefore,

Future value,

[tex]$FV = P\left( 1 +\frac{r}{n}\right)^{nt}$[/tex]

[tex]$FV = 6000\left( 1 +\frac{0.05}{2}\right)^{2 \times 4}$[/tex]

[tex]$FV = 6000 \times (1.025)^8$[/tex]

       = 6000 x 1.2184

        = 7310.4

Therefore, after 4 years there will be $ 7310.4 in the amount when compounded semi annually.

When the deposited amount is compounded quarterly, i.e. n = 4

Therefore,

Future value,

[tex]$FV = P\left( 1 +\frac{r}{n}\right)^{nt}$[/tex]

[tex]$FV = 6000\left( 1 +\frac{0.05}{4}\right)^{4 \times 4}$[/tex]

[tex]$FV = 6000 \times (1.0125)^{16}$[/tex]

       = 6000 x 1.219889

        = 7319.334

Therefore, after 4 years there will be $ 7319.334 in the amount when compounded quarterly.

When the deposited amount is compounded monthly, i.e. n = 12

Therefore,

Future value,

[tex]$FV = P\left( 1 +\frac{r}{n}\right)^{nt}$[/tex]

[tex]$FV = 6000\left( 1 +\frac{0.05}{12}\right)^{12 \times 4}$[/tex]

[tex]$FV = 6000 \times (1.0041667)^{48}$[/tex]

       = 6000 x 1.22089

        = 7325.34

Therefore, after 4 years there will be $ 7325.34 in the amount when compounded monthly.


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2 5/6 years Is 34 months

Final Answer: 34 months

Steps/Reasons/Explanation:

Hey there! Each year is 12 months. We can see that 2 years is already given. 2 years × 12 months = 24 months.

For [tex]\frac{5}{6}[/tex] we will multiply it by two to find the remaining amount of months. [tex]\frac{5}{6}[/tex] × [tex]2[/tex] = [tex]\frac{10}{12}[/tex]. This means that there is an extra 10 months of a year remaining.

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~I hope I helped you :)~

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Step-by-step explanation:

have nice day


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sss axiom

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Answer:

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Step-by-step explanation:

Step 1: Define

(3 - 4i) + (5 + 3i)

Step 2: Simplify

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If I’m assuming that symbol next to the C at the end of the question means C mirrored the the answer would be (3,1) but I’m not quite sure what it means

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Answer:

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Answer:

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Step-by-step explanation:

I hope this help

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Step-by-step explanation:

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Answers

Answer:

I am pretty sure the answer is 11 minutes and the cost was $2.09

Step-by-step explanation:

Ihope this helps you:)

Step-by-step explanation:

Ok so we start with $15 now the remaining amount is $12.91, so let's substract

15.00 - 12.91 = 2.09

Alright now I must work with this number, since every minute used on the call is 19 cents, i must divide 2.09 to see how many 19 cents fit into this number

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So she lasted talking or in this call 11 minutes....

I hope this helps!

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Answers

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9514 1404 393

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  see attached

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__

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Answers

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Step-by-step explanation:

Please find the complete question in the attached file.

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Answers

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Step-by-step explanation:

Answer:

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Step-by-step explanation:

replace the values in the equation with the values given.

Answer:

I think it will be C. 1.5

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