Question

2.13 State the amount accumulated by each of the following present investments: (a) $5,000 in 6 years at 7% compounded annually. (b)$1,3000 in 8 years at 6% compounded annually. (c) $16,000 in 25 years at 10% compounded annually. (d) $10,000 in 10 years at 5% compounded annually.

Name: 213 state the amount accumulated by each of the following present investments a 5000 in 6 years at 7 compounded annually b13000 in 8 years at 6 compounded annually c 16000 in 25 years at 10 compounded
Uploaded: 2023-01-25T11:44:54-08:00
Duration: 2 min 18 s
Channel: Caroline Mcclure
Description: 213 state the amount accumulated by each of the following present investments a 5000 in 6 years at 7 compounded annually b13000 in 8 years at 6 compounded annually c 16000 in 25 years at 10 compounded

          2.13 State the amount accumulated by each of the following present investments: 
(a) $5,000 in 6 years at 7% compounded annually. 
(b)$1,3000 in 8 years at 6% compounded annually. 
(c) $16,000 in 25 years at 10% compounded annually. 
(d) $10,000 in 10 years at 5% compounded annually.

Added by Ali B.

Algebra and Trigonometry

Michael Sullivan 10th Edition

Chapter 6

Instant Answer

Solved by Expert Caroline Mcclure

01/25/2023

Step 1

Step 1:** For part (a), we have: - Principal amount (P) = $5,000 - Interest rate (r) = 7% - Time (t) = 6 years Using the compound interest formula: \[ A = P \times \left(1 + \frac{r}{100}\right)^{n \times t} \] ** Show more…

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2.13 State the amount accumulated by each of the following present investments: (a) $5,000 in 6 years at 7% compounded annually. (b)$1,3000 in 8 years at 6% compounded annually. (c) $16,000 in 25 years at 10% compounded annually. (d) $10,000 in 10 years at 5% compounded annually.