Question

principal of
$2600
is invested at
3.25%
interest, compounded annually. How much will the investment be worth after
11
years?
Use the calculator provided and round your answer to the nearest dollar.

Answer 1

amount after n years is
P(1 + r/100)^ n

where P is the starting amount , r is the rate per cent.

Answer 2

so just plug your values into this formula and work it out.

Answer 3

That "worth" is the sum of the original principal and the accumulated interest.

P = principal = $ ?
r = interest rate as a percentage = ?
n = number of years (since interest is compounded annually) = ?

Answer 4

3696.2727

Answer 5

The principal is
$2600
, and in the first year the investment's value increases by
3.25%
.
So, the investment's value after the first year is given by the following.
+2600·26000.0325
=·2600+10.0325
=·26001.0325
Similarly, in the second year the investment's value increases by another
3.25%
.
··26001.03251.0325
=·26001.03252
Here is the investment's value after the third year.
=··26001.032521.0325·26001.03253
More
After
t
years, the investment will be worth
1.0325t
times the principal.
So, the investment's value after
t
years is given by the following.

·26001.0325t
In this problem, we need to find the investment's value after
11
years.
=·26001.0325113696.27...
Rounded to the nearest dollar, we get
$3696
.
Here is the answer.

$3696

Answer 6

A laptop computer is purchased for
$1850
. After each year, the resale value decreases by
35%
. What will the resale value be after
4
years?
Use the calculator provided and round your answer to the nearest dollar.

Answer 7

Do i put .35 for this

Answer 8

Surely appreciate your investing time and thought into solving this problem.

I do have suggestions regarding notation:

·26001.0325t is subject to misinterpretation for at least two reasons: First, the principal ($2600) needs to be separated from (1.0325). You could use the " * " symbol for multiplication, or y ou could enclose the 0.032) inside parentheses.
Second (a more serious matter): It's important to learn how to express exponentiation properly. If taken at face value, your 1.0325t means "1.032 times t."

What you mean was "1.032 raised to the power t. " the proper way in which to write that is

0.032^t, or\[0.032^t\]

Answer 9

Finally, there's no reason to round off that 0.0325 to 0.032. Leave it as 0.0325.
If you insist on rounding it off, however, you must round UP (not down) in this situation, because of that "5". 0.032499 would round down to 0.032. But 0.0325 would round UP to 0.033.

Please type in your formula for the AMOUNT, making use of these suggestions.

A = Amount = ???