Calculate the interest earned during the twenty years

Assignment Help Mathematics
Reference no: EM131607271

Question: A person deposits money into a retirement account, which pays 7% interest compounded continuously, at a rate of $1000 per year for 20 years. Calculate:

(a) The balance in the account at the end of the 20 years.

(b) The amount of money actually deposited into the account.

(c) The interest earned during the 20 years.

Reference no: EM131607271

Questions Cloud

Find the future values of a constant income stream : Find the present and future values of a constant income stream of $100 per year over a period of 20 years, assuming a 10% annual interest rate compounded.
Correlation between unemployment and inflation : 1. What is the correlation between unemployment and inflation? 2. In your opinion, do you believe that this correlation is true of the current economy?
Discuss shifting the burden of proof : COMPOSE a persuasive argument pursuant based upon your position on the selected topic
What is the law of comparative advantage : 1. What is the law of comparative advantage, and why is it important in international trade?
Calculate the interest earned during the twenty years : A person deposits money into a retirement account, which pays 7% interest compounded continuously, at a rate of $1000 per year for 20 years.
The failure of communism in eastern europe and the ussr : Analyze the motivations of both the United States and the Soviet Union that led to the Cold War.
Is foreign aid worsening our budget deficit : Is America obligated to help poor countries? Is foreign aid worsening our budget deficit?
Critically evaluate the organizational characteristics : MBA (IT) Summer- 2017 Individual Written Report Critically evaluate the organizational characteristics that facilitate the innovation process in an organization supporting.
Create a time-phased budget for your example project : Create a time-phased budget for your example project using bottom-up estimating. As you allocate resources to the activity your budget is being created

Reviews

Write a Review

Mathematics Questions & Answers

  Express q as a continuous function of time

A 0.6 ml dose of a drug is injected into a patient steadily for half a second. At the end of this time, the quantity, Q, of the drug in the body starts.

  Analyze marketing strategies in reaching markets

1. Analyze marketing strategies in reaching markets with their products or services. 2. Continue with a detailed description of marketing management strategies used in the implementation of the marketing plan.

  How far must he travel to get to the ball

A baseball player bunts a ball down the first base line. It rolls 35 ft at an angle of 27° with the first base path. The pitcher's mound is 60.5ft from home plate. How far must he travel to get to the ball?

  Determining the differential equation

Which of the following functions is/are solutions to the differential equation (y')^2 - 1 + y^2? Note: There may be more than one solution.

  Four aspects of designing business presentations

Create an 8- to 10-slide presentation that should be 5 to 10 minutes in length. Please include detailed speaker notes, based on the Week 4 Persuasive Messages Part I & Part II assignment. Apply the four aspects of designing business presentations ..

  Find the stockholders loss per share

a stockholder sold 150 shares of stock at 34 1/4 per share find the stockholders loss per share The stock had been purchased at 36 5/8 per share.

  How much does the summer trip cost

Bob saved 23% of the cost of a vacation so far. he has put away $685. How much does the summer trip cost? Round your answer to the nearest hundredth. Please show your work

  Calculate karen total annual premium

Because the car has an airbag, an alarm, and antilock brakes, the insurance company has assigned a rating factor of.95 to the policy. As her auto insurance agent, calculate Karen's total annual premium.

  How many possible seating arrangements are there for group

CAR POOLS A company car that has a seating capacity of six is to be used by six employees who have formed a car pool.

  Compute the eventual growth rate of the population

Construct a stage-matrix model for an animal species that has two life stages: juvenile (up to 1 year old) and adult. Suppose the female adults give birth.

  Find the area bounded by the curve

Differentiate the following functions with respect to x. Use the quotient rule to differentiate y= 2x4 - 3x/4x - 1

  Problem regarding the linear programming model

Formulate this problem as a linear programming model and solve it by the using the computer.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd