Asked by rick
how much money would have to be invested in an account at 3.98% annual interset to achieve a balance of 25,000 in 17 years if
a. The account pays simple interest
b. the account compound interest qrtly
c. the account compounds interest continuously
a. The account pays simple interest
b. the account compound interest qrtly
c. the account compounds interest continuously
Answers
Answered by
Reiny
a)
solve for x, the original amount
x + 17(.0398)x = 25000
b)
i = .0398/4 = .00995
x(1.00995)^68 = 25000
x = 25000/(1.00995^68) = .......
c)
25000 = x (e^(.0398(17))
x = ...
solve for x, the original amount
x + 17(.0398)x = 25000
b)
i = .0398/4 = .00995
x(1.00995)^68 = 25000
x = 25000/(1.00995^68) = .......
c)
25000 = x (e^(.0398(17))
x = ...
Answered by
riya
mujhe simple interest ka method samajh nahi ataa. question-a some of money double itself 10 year the number of year it wood trebles itself is.........