Mathematics, 06.06.2020 20:59 kendallreed39
Part I
1. Suppose you have $5000 to invest at age 20. You have the choice of depositing your money in
any of the three money market accounts described below. Assuming you will leave your money in
the account until retirement (age 65) calculate your final balance.
a) Account A: b) Account B: c) Account C:
8.25% annual interest 7.80 % annual interest 8% annual interest
compounded monthly compounded continuously
d) Which account will yield the most amount of money?
2. Calculate the number of years you would need to leave your $5,000 in each of the money market
accounts described above if you need $150,000 in the account. (Write your answers to the nearest
tenths. You will need to use logarithms to find your answers.)
a) Account A b) Account B c) Account C
Part II pg 2
3. Assume you choose Account C and you invest your $5,000 in the money market account that
pays 8 % interest per year compounded continuously.
a) Write a general equation that can be Equation:
used to model this situation at any given age.
(Note: t = 0 represent the year you are age 20.)
Answers: 2
Mathematics, 21.06.2019 13:30, eelebron0905
Ben wants to play a carnival game that costs $2. in his pocket he has 5 red tickets worth 35 cents each, and 15 blue tickets worth 10 cents each. which of the following systems of inequalities correctly represents the constraints on the variables in this problem? let represent the red tickets and b represent the blue tickets.
Answers: 1
Mathematics, 21.06.2019 16:30, Billie9166
An equation where variables are used to represent known values—function notation true or false
Answers: 2
Part I
1. Suppose you have $5000 to invest at age 20. You have the choice of depositing your money...
Mathematics, 27.10.2020 05:50
Mathematics, 27.10.2020 05:50
Mathematics, 27.10.2020 05:50
Mathematics, 27.10.2020 05:50
Mathematics, 27.10.2020 05:50
Mathematics, 27.10.2020 05:50