If dollar 11,000 is invested at 12% interest compounded monthly, find the intere

Question

If dollar 11,000 is invested at 12% interest compounded monthly, find the interest earned in 11 years. The interest earned in 11 years is dollar . (Do not round until the final answer. Then round to two decimal places as needed.) Suppose that P is invested in a savings account in which interest is compounded continuously at 4% per year. The amount A accumulated after time t, in years, is A = P e rt. Find A if dollar 8000 is invested for 6 years. If dollar 8000 is invested, what is the amount accumulated after 6 years? dollar (Round to the nearest cent.) The lump sum dollar invested at 8%, compounded monthly, grows to dollar 55,000 in 9 years. (Do not round until the final answer. Then round to the nearest cent as needed.) At the end of t years, the future value of an investment of dollar 14,000 in an account that pays 6% APR compounded monthly is S = 14,000( 1 + 0.06/12)12t dollars. Assuming no withdrawls or additional deposits, how long will it take for the investment to amount to dollar 42,000? The investment will grow to dollar 42,000 in years. (Do not round until the final answer. Then round to two decimal places as needed.)

Explanation / Answer

1. 38264.04 $

2. 10162.54 $

3. 109945.25 $

4. 18.35 years

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