Algebra: interest
Not what you're looking for?
See Attached. Showing work not required.
1.Suppose $2000 is invested at an annual interest rate of 5%. Compute the balance after 10 years if the interest is compounded monthly.
Purchase this Solution
Solution Summary
The expert finds the balance of an amount invested for ten years, when the interest is compounded monthly
Solution Preview
At!
1. Suppose $2000 is invested at an annual interest rate of 5%. Compute the balance after 10 years if the interest is compounded monthly.
A= 2,000(1+0,05/12)^12*10
2,000(1.0041666)^120
2,000*1,65
3294.02
2. Repeat problem 1, if the interest is compounded continuously.
A= 2,000 e^.05*10
2,000 e^.5
3,292.42
3. Solve for x: 5 = e5x
Ln5 = 5x lne
1.61 = 5x
...
Education
- BSc, University of Bucharest
- MSc, Ovidius
- MSc, Stony Brook
- PhD (IP), Stony Brook
Recent Feedback
- "Thank you "
- "Thank You Chris this draft really helped me understand correlation."
- "Thanks for the prompt return. Going into the last meeting tonight before submission. "
- "Thank you for your promptness and great work. This will serve as a great guideline to assist with the completion of our project."
- "Thanks for the product. It is an excellent guideline for the group. "
Purchase this Solution
Free BrainMass Quizzes
Know Your Linear Equations
Each question is a choice-summary multiple choice question that will present you with a linear equation and then make 4 statements about that equation. You must determine which of the 4 statements are true (if any) in regards to the equation.
Solving quadratic inequalities
This quiz test you on how well you are familiar with solving quadratic inequalities.
Graphs and Functions
This quiz helps you easily identify a function and test your understanding of ranges, domains , function inverses and transformations.
Geometry - Real Life Application Problems
Understanding of how geometry applies to in real-world contexts
Exponential Expressions
In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.