Mathematics, 31.03.2020 03:27 yolo1171
Recall that in the problem involving compound interest, the balance A for P dollars invested at rate r for t years compounded n times per year can be obtained by A = P 1 + r n nt Consider the following situations:.
(a) P = $2, 500, r = 5%, t = 20 years, n = 4. Find A.
(b) P = $1, 000, r = 8%, t = 5 years, n = 2. Find A.
(c) A = $10, 000, r = 6%, t = 5 years, n = 4. Find P.
(d) A = $50, 000, r = 7%, t = 10 years, n = 12. Find P.
(e) A = $100, 000, r = 10%, t = 30 years, compounded monthly. Find P.
(f) A = $100, 000, r = 7%, t = 20 years, compounded quarterly. Find P.
Answers: 3
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Recall that in the problem involving compound interest, the balance A for P dollars invested at rate...
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