jasmeen94638 jasmeen94638

23-06-2024
Mathematics

Answered

1. Six years ago, you deposited $5,000 in an investment account. The account now contains $7,329.23. What interest rate compounded quarterly did you earn? ANSWER [percent, 4 decimal places]:
2. You want to save up for a new car that costs $18,995. You only have $15,901.86, but you are confident that you can invest that and earn 6.9% compounded monthly. How many years will it take you to save up for the car? ANSWER [3 decimal places]:
3. If you deposit $10,000 in an account that earns 4.6% compounded biweekly, how much interest will you earn in 4 years?

Answer :

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