Tutors Answer Your Questions about Finance (FREE)
Question 1025819: Please help, I am stucked at this question:
Find the interest rate needed for an investment of $3,000 to grow to an amount of $4,000 in 3 years if interest is compounded continuously. Please round the answer to the nearest hundredth of percent.
I am using the compounded interest formula:
A = P ( 1+〖r/m)〗^mt
where A = $4000 and P = $3000 and t = 3 (years) and m = 1 (annually) and r = interest (percentage)
I am stuck at this step: $4000 = $3000 〖(1+r)〗^3
Suppose if this is correct up to this point, can anyone be kind enough to show me the workings in solving this? Much thanks.
Click here to see answer by MathTherapy(10552)   |
Question 1025874: I'm unable to solve this, please help and many thanks.
Lily plans to deposit $8,000 into a bank account at the beginning of next month and $200 each month into the same account at the end of that month and at the end of each subsequent month for the next 7 years. If her bank pays interest at the rate of 4%/year compounded monthly, how much will Lauren have in her account at the end of the 7 years? (Assume that she makes no withdrawals during the 7 year period.)
Click here to see answer by solver91311(24713)  |
Question 1025909: he number of bacteria in a certain population increases according to a continuous exponential growth model, with a growth rate parameter of
3.9%
per hour. How many hours does it take for the size of the sample to double?
Note: This is a continuous exponential growth model.
Do not round any intermediate computations, and round your answer to the nearest hundredth.
Click here to see answer by stanbon(75887) |
Question 1025920: Kepler’s Third Law of planetary motion states that the square of the period T of a planet (the time taken for a complete revolution around the sun) is proportional to the cube of its average distance d from the sun
Neptune is approximately 30 times as far away from the sun as Earth. Without using the specific number of kilometers, what is the period of Neptune? Does your answer correspond with the value from other sources?
Click here to see answer by KMST(5328)  |
Question 1025976: ANGUS SOLD 67,71, 75 AND 60 ITEMS THE FIRST 4 DAYS OF THE WEEK He needs to sell an average of 73 items over a 5 day week. What is the minimum number of items does he need to sell on day 5 to achieve this result?
Click here to see answer by Cromlix(4381)  |
Question 1025944: Please help to solve this, thanks.
Suppose payments were made at the end of each quarter into an ordinary annuity earning interest at the rate of 10%/year compounded quarterly. If the future value of the annuity after 9 yr is $20,000. What was the size of each payment?
Click here to see answer by robertb(5830)  |
Question 1026350: The demand equation for a microwave is p = 140 – 0.001x where p is the unit price in dollars and x is the number of units produced and sold. The cost equation for the microwave is C = 40x + 150,000 where C is the total cost in dollars and x is the number of units produced. The total profit P obtained by producing and selling x units is given by P = R – C = xp – C. Is there a price p that yields a profit of $3 million? Explain your answer.
Click here to see answer by ankor@dixie-net.com(22740)  |
Question 1026402: A trip to the swimming pool was to cost a total of $900, but at the last minute it was changed to the museum. As a result , 25 students decided not to go, and so the price had to be raised to $ 3.27 per student. how many students went on the trip ?
Click here to see answer by josgarithmetic(39617) |
Question 1026445: Emp 1 : mon: present ,tue: present ,wed:present ,thur: present ,fri :present .sat:week off ,sun: weekoff
Emp 2 : mon: week off ,tue: present ,wed:present ,thur:absent ,fri :present .sat:week off ,sun: weekoff
Emp 3 : mon: absent ,tue: absent ,wed:present ,thur: present ,fri :present .sat:absent ,sun: weekoff
Emp 4 : mon:Week-Off ,tue:present ,wed:present ,thur:absent ,fri :present .sat:present ,sun: present
Emp 5 : mon:absent ,tue:absent ,wed:absent ,thur:absent ,fri :present .sat:present ,sun: present
Emp 6 : mon:Week-Off ,tue:Week-Off ,wed:Week-Off ,thur:presesnt ,fri :present .sat:present ,sun: absent
I have 6 employee in my organization :emp 1 to emp 6 ,
I have their daily attendance record : Present(p) ,Absent(a) ,Week-off (-)
actual working days (AWD) differ for each employee ,some may work for 5 days in a week and some 7 days in a week (week-off not considered part of working day)
Now, I want to calculate average attendance in that week
case 1 : add all the present attendance data :
like : emp 1 present for 5 days
emp 2 present for 3 days , and so on for all 6 emp
the sum of present attendance is 22 ,
now what should i divide this number by , if i divide 22 by 7 working days , then it would not give me a accurate number as emp1 has worked for only 5 days , so it would give me a false average as actual working days (AWD) differ for each employee , so how to get average
Case 2 :
can i calculate percentage :
emp1 Present for 5 days actual working days 5 ,so attendance :100 %
likewise : emp2 attendance: 75%
emp 3 attendance 50%
emp 4: 83% ,emp5=43%, emp 6=75%
so average of all attendance percentage = 71%
so tell me ,does this number provide an accurate deception of attendance
or is there a another solution ,
tip : kindly enter data in excel for understanding , substitute :
present = p
absent =a
week off = "-"
actual working days =AWD
Click here to see answer by rothauserc(4718)  |
Question 1026565: a bag contains two black balls, three green balls and four
red balls. A ball is picked from the bag at random. What
is the probability that it is;
1. black
2. green
3. red
4. yellow
5. not black
6. either black or red?
Click here to see answer by rothauserc(4718) |
Question 1026620: There are twice as many liters of water in one container as in another. If 8 liters of water are removed from each other of the two containers, there will be three times as many liters of water in one container as in the other. How many liters of water did the smaller container have to begin with?
Click here to see answer by josgarithmetic(39617) |
Question 1026830: The annual interest on a
$6000 investment exceeds the interest earned on a
$3000 investment by
$93.
The
$6000 is invested at a
0.3% higher rate of interest than the
$3000.
What is the interest rate of each investment?
Click here to see answer by mananth(16946)  |
Question 1026830: The annual interest on a
$6000 investment exceeds the interest earned on a
$3000 investment by
$93.
The
$6000 is invested at a
0.3% higher rate of interest than the
$3000.
What is the interest rate of each investment?
Click here to see answer by addingup(3677)  |
Question 1026926: The first term of a geometric progression is 5 and the fifth term is 1280 find the common ratio of the progression.?
Can I be shown step by step please as I need to be explained this in detail as I do not understand.
Click here to see answer by ikleyn(52781)  |
Question 1027238: The first three terms of a geometric progression are 4,2 and 1 the common ratio is 2.
I need to calculate the sum to infinity of its terms?
Can someone explain step by step how to get the answer please, I would greatly appreciate it.
Click here to see answer by richard1234(7193)  |
Question 1027357: An investment of $3,000 is made at an annual simple interest of 5%. How much additional money must be invested at an annual simple interest rate of 8%, so that the total annual interest earned is 7.5 of the original amount that you invested?
Click here to see answer by Theo(13342)  |
Question 1027589: Money deposited in a certain bank doubles every 8 years. The bank compounds interest continuously. What annual interest rate does the bank offer? Type your answer as a percent (not a decimal), and round your answer to the nearest thousandth of a percent (3 decimal places).
Click here to see answer by Boreal(15235)  |
Question 1027594: The parsons have a balance of $419.34 in their check register. On their bank statement the end of the account is 346.89. Not reported on the bank statement are checks of $20.40, $112.15 and $59.99. Outstanding deposits in the amount of $150, $75, and $39.99. Show all the process the Parsons need to do to reconcile their checkbook. Does the account reconcile?
Click here to see answer by fractalier(6550)  |
Question 1025977: 1. A woodcutter determines a height of a tall tree by first measuring a smaller one 125 feet away, then moving so that his eyes are in the line of sight along the tops of the trees, and measuring how far he is standing from the small tree; this is shown in the diagram below. How tall is the tall tree?
Click here to see answer by fractalier(6550) |
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