Posted by rick on Saturday, January 1, 2011 at 12:58am.
how much money would have to be invested in an account at 3.98% annual interset to achieve a balance of 25,000 in 17 years if
a. The account pays simple interest
b. the account compound interest qrtly
c. the account compounds interest continuously

math  Reiny, Saturday, January 1, 2011 at 9:47am
a)
solve for x, the original amount
x + 17(.0398)x = 25000
b)
i = .0398/4 = .00995
x(1.00995)^68 = 25000
x = 25000/(1.00995^68) = .......
c)
25000 = x (e^(.0398(17))
x = ...

math  riya, Saturday, April 6, 2013 at 8:09am
mujhe simple interest ka method samajh nahi ataa. questiona some of money double itself 10 year the number of year it wood trebles itself is.........
Answer This Question
Related Questions
 math  Samantha opened a savings account and deposited some money into the ...
 algebra  Solve the problem. Helen Weller invested $15,000 in an account that ...
 math  Yvonne put $4,000 in a savings account. At the end of 3 years, the ...
 Algebra  Helen invested $14,000 in an account that pays 3% simple interest. How...
 Math  A woman has money in two accounts. One account pays 7% annual interest, ...
 math  Mike's grandmother opened a savings account in Mike's name and deposited ...
 prealgebra  You split $1500 between two savings accounts. Account A pays ...
 simple interest  A total of $12,000 is invested into two simple interest ...
 Compound math  (Future Value) Suppose you invest $8000 into an account that ...
 Math  A person plans to invest a total of $9000 in an account that pays 3% ...
More Related Questions