1. $5000.00 compounded annually at 6% for 5 years= Answer $6,691.13?
2. $5000.00 compounded quartley at 6% for 5 years= Answer $6,719.58?
3. $5000.00 compounded quartley at 65 FOR 5 YEARS= Answer $6,734.28?
4. $5000.00 compounded annually at 6% FOR 6 YEARS= Answer $7,092.60?
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7. $7000.00 in 5 years at an annual discount rate of 6%= Answer $5,230.81?
8. $7000.00 in 5 years at an semiannual discount rate of 6%= Answer $5,208.66?
9. $7000.00 in 5 years at an quartley discount rate of 6%= Answer $5,197.29?
10. $7000.00 in 6 years at an annual discount rate of 6%= Answer $4,934.72?
Please check my answers is NOT the School Subject, but MATH is.
Sra
2. $5000.00 compounded quartley at 6% for 5 years= Answer $6,719.58?
.06/4 = .015
1.015^20 = 1.34686
* 5000 = 6734.28
3. $5000.00 compounded quartley at 65 FOR 5 YEARS= Answer $6,734.28?
6.5 I assume
.065/4 = .01625
1.01625^20 = 1.38042
*5000 = 6902.10
i posted this morning with Finance and couldn't get any one to help me SORRY i am a very confused student seeking help
To calculate the compound interest, you can use the formula:
A = P(1 + r/n)^(nt)
where:
- A is the total amount after interest
- P is the principal amount (the initial amount)
- r is the annual interest rate (as a decimal)
- n is the number of times that interest is compounded per year
- t is the number of years
Now let's calculate each scenario:
1. $5000.00 compounded annually at 6% for 5 years:
A = 5000(1 + 0.06/1)^(1*5)
A = $6719.58
Therefore, the answer is incorrect. The correct answer should be $6,719.58.
2. $5000.00 compounded quarterly at 6% for 5 years:
A = 5000(1 + 0.06/4)^(4*5)
A = $6,734.28
Therefore, the answer is correct.
3. $5000.00 compounded quarterly at 6.5% for 5 years:
A = 5000(1 + 0.065/4)^(4*5)
A = $6,778.48
Based on your provided answer of $6,734.28, it seems that the interest rate was assumed to be 6% instead of 6.5%. Therefore, the answer is incorrect. The correct answer should be $6,778.48.
4. $5000.00 compounded annually at 6% for 6 years:
A = 5000(1 + 0.06/1)^(1*6)
A = $7,117.28
Therefore, the answer is incorrect. The correct answer should be $7,117.28.
Now let's move to the discount rates:
7. $7000.00 in 5 years at an annual discount rate of 6%:
A = 7000/(1 + 0.06)^5
A = $5,226.99
Based on your provided answer of $5,230.81, it seems that the discount rate was not factored in correctly. Therefore, the answer is incorrect. The correct answer should be $5,226.99.
8. $7000.00 in 5 years at a semiannual discount rate of 6%:
A = 7000/(1 + 0.06/2)^(2*5)
A = $5,210.63
Therefore, the answer is incorrect. The correct answer should be $5,210.63.
9. $7000.00 in 5 years at a quarterly discount rate of 6%:
A = 7000/(1 + 0.06/4)^(4*5)
A = $5,201.02
Based on your provided answer of $5,197.29, it seems that the discount rate was not factored in correctly. Therefore, the answer is incorrect. The correct answer should be $5,201.02.
10. $7000.00 in 6 years at an annual discount rate of 6%:
A = 7000/(1 + 0.06)^6
A = $4,934.22
Based on your provided answer of $4,934.72, it seems that the discount rate was not factored in correctly. Therefore, the answer is incorrect. The correct answer should be $4,934.22.