5for7 yearshowmuchwilla2000investmentbeworthat

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: How much should William put into this account so that he’ll have $4000 at the end of two years? 4) A total of $12,000 is invested at an annual percentage rate of 9%. Find the balance after 5 years if the interest is compounded continuously. 5) A sum of $9000 is invested at an annual percentage rate of 8.5%. Find the balance in the account after 3 years if a) interest is compounded annually b) interest is compounded monthly c) 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...
View Full Document

Ask a homework question - tutors are online