This preview shows page 1. Sign up to view the full content.
Unformatted text preview: rest is compounded monthly
d) interest is compounded continuously 6) If interest is compounded continuously at 4.5% for 7 years, how much will a $2000 investment be worth at the end of 7 years? Compound Interest Problems 1) A total of $12,000 is invested at an annual percentage rate of 9%. Find the balance after 5 years if interest is compounded quarterly. 2) Kelly plans to put her graduation money into an account and leave it there for 4 years while she goes to college. She receives $750 in graduation money that she puts it into an account that earns 4.25% interest compounded semi
annually. How much will be in Kelly’s account at the end of four years? 3) William wants to have a total of $4000 in two years so that he can put a hot tub on his deck. He finds an account that pays 5% interest compounded monthly....
View Full Document
This note was uploaded on 11/29/2013 for the course MATH Trigonomet taught by Professor Grawbowski during the Fall '11 term at Midwood High School.
- Fall '11