Question

a $4,000 principal earns 5% interest, compounded annually. After 4 years, what is the balance in the account?

A $3,500 principal earns 3% interest, compound semiannually. After 20 years, what is the balance in the account?

A tractor costs $15,450 and depreciates in value by 14% per year. How much will the tractor be worth after 3 years?

Answer 1

@mathstudent55

Answer 2

@Directrix

Answer 3

@dan815

Answer 4

@skullpatrol

Answer 5

@Teddyiswatshecallsme

Answer 6

@whpalmer4

Answer 7

I used an online calculator.

See what you think about it.

http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php

Answer 8

Did you get this?

Answer 9

Yeah. What about the 2nd and 3rd?

Answer 10

If you use the online calculator, you can knock these out quickly. I'll check answers with you.

http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php

Answer 11

Can you do them quickly please this has to be turned in at 11

Answer 12

Go to the calculator site and enter the data as shown on the attachment. Punch calculate. You'll be finished well before 11 if you do that.

Answer 13

I did and it is not working my computer is a P.O.C

Answer 14

Then, you can try using the formula with your calculator.

Answer 15

1. 4,862.03

2. 6,349.06

3. 22,889.85


Are these correct?

Answer 16

Are they????

Answer 17

>>3. 22,889.85 cannot be correct because the tractor would be worth more after 3 years of depreciation than it was worth at the start.

Answer 18

9,827.07?

Answer 19

15450*(.86)^3= ?

Answer 20

9,827.07

Answer 21

>9,827.07?

That is what I got.

Answer 22

1. 4,862.03 Yes

Answer 23

One more and I would like work shown one how to do it, please

Answer 24

Use the compound interest formula.

P = 4000 * (1 + .04/1)^3
P =

What is this equal to: 4000 * (1 + .04/1)^3

Answer 25

Give answer to the nearest dollar.

Answer 26

4499.456

Answer 27

4499.46?

Answer 28

Yes

$4,499.46 to the nearest dollar is 4,499.00

Answer 29

So can you put all of the step into one post to I can see it all please thank you

Answer 30

P = C* (1 + r/n)^(n*t)
P = 4000 * (1 + .04/1)^3
P =