Me asap. full explication and good answers.
1 -on the day of a child's birth, a sum of m...
Mathematics, 02.12.2019 21:31 hmu323
Me asap. full explication and good answers.
1 -on the day of a child's birth, a sum of money is to be invested into a certificate of deposit (cd) that draws 6.2% annual interest compounded continuously. the plan is for the value of the cd to be at least $20,000 on the child's 18th birthday.
if the amount of money invested is to be a multiple of $1,000, what is the minimum that should be invested initially, assuming that there are no further deposits or withdrawals.
2- jeffrey has won a lottery and has elected to take a $10,1000 per month payment. at the beginning of the year, jeffrey deposits the first payment of $10,000 in an account that pays 7.6% interest annual, compounded continuously. at the very beginning of each month, he deposits another $10,000. how much will he have at the very end of the year ?
warnings : i know its hard and that's why i need your . i don't just you to give me the answer, i want you to explain it to me clearly enough so i can do another by myself. if you have any question use the comment section which is up there ↑.
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