8 Answered Questions for the topic Annual Rate
Find the total income from the machines over the first 4 years.
Suppose that a vending machine service company models its income by assuming that money flows continuously into the machines, with the annual rate of flow given byf(t) = 140e0.03tin thousands of... more
you wish to purchase a used car for $9000.
you put 25% down and finance the rest at 3.8% for 5 years, making monthly payments. 1.) what is your down payment and how much do you finance? 2.) what is your monthly payment on your... more
Algebra help, Income earned on an IRA investment help?
I need some help on setting up this problem, and how to find the formula to get the correct answer..Here it is: A retiree needs a yearly income of $13,o00 from her IRA to help fund her retirement.... more
Annual Rate Compounded Interest
How much money will there be in an account at the end of 10 years if $2000 is deposited at a 4.5% annual rate that is compounded continuously?
assume no withdrawals are made. Do not round until the final answer. than round to the nearest cent as needed.
Short 3 part question
The population P of a city has been increasing at an annual rate of 2.3%. It's population was 150 million in 2008 and P is in millions. a. Use the pert general formula to create a specific formula... more
Word problem with money
Calculate the amount of money in a bank account if $2000 is deposited for 15 years at an interest rate of (a) 5% annually (b) 5% continuously per year
Calculate the cost of both options
josh needs $320 to pay off his cell phone. He can use his credit card, but the $320 payment will put him at his card limit. His other option is to take a payday loan. His credit card has an annual... more
The following formula is incorrect for compound interest with the symbols defined this way, can someone tell me why?
The following formula is incorrect for compound interest with the symbols defined this way, can someone tell me why? Compound Interest is described by A = P(1+rm)^n, where P is the... more