SOLUTION: Suppose you deposit $ 1800 in an account with an annual interest rate of 8 % compounded quarterly. a. Find an equation that gives the amount of money in the account after t year

Question 598529: Suppose you deposit $ 1800 in an account with an annual interest rate of 8 % compounded quarterly.
a. Find an equation that gives the amount of money in the account after t years. P(t) =
b. Find the amount of money in the account after 6 years. $
c. How many years will it take for the account to contain $ 3600? years
d. If the interest were compounded continuously, how much money would the account contain after 6 years? $
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A)
A=P(1+0.08/4)^rt
you do B & C
D)
A=Pe^rt
A=P(2.7183)^rt
RELATED QUESTIONS
Suppose you deposit $1,200 in an account with an annual interest rate of 6% compounded... (answered by josmiceli)

Find the account balance after 15 year for an account paying compound interest if you... (answered by solver91311)

Suppose you deposit $500 in an account with an annual interest rate of 8% compounded... (answered by KMST)

Suppose you deposit $1000 in an account with an annual interest rate of 10% compounded... (answered by Boreal)

you deposit 1800$ in a special savings account. the account earns interest at an annual... (answered by dfrazzetto)

A deposit of 9000 euros is put into an account earning interest at the annual rate of 8%... (answered by ewatrrr)

A certficate of deposit has an annual rate of 6% compounded quarterly. Find the effective (answered by jojo14344)

You deposit $6,800 in a money-market account that pays an annual interest rate of 5.7%.... (answered by Edwin McCravy)

Calculate the amount of money you will have in an account at the end of the five years... (answered by cta1987)