Find the present value that will grow to $2000 if the annual interest rate is 8.5% compounded quarterly for 9 yr.
the present value is $
. (round to the nearest cent as needed.)

Step-by-step explanation:

Problem

If you deposit $4500 into an account paying 7% annual interest compounded semi anualy , how much money will be in the account after 9 years?

Result

The amount is $8358.7 and the interest is $3858.7.

Explanation

STEP 1: To find amount we use formula:

A=P(1+rn)n⋅t

A = total amount

P = principal or amount of money deposited,

r = annual interest rate

n = number of times compounded per year

t = time in years

In this example we have

P=$4500 , r=7% , n=2 and t=9 years

After plugging the given information we have

=4500(1+0.072)2⋅9=4500⋅1.03518=4500⋅1.857489=8358.7

STEP 2: To find interest we use formula A=P+I, since A=8358.7 and P = 4500 we have:

A8358.7II=P+I=4500+I=8358.7−4500=3858.7

step-by-step explanation:

a.   since the profit made in 2012 is equal to the profit made in 2014, the profit is           symmetric about the line y = 120,000.

step-by-step explanation:

given that megan owns a clothing boutique.

the profits of 2010, 11, are recorded and shown as follows:

years since     2010 0     1     2     3       4       5

profits made in 1000's   39       84     111     120   111     84

we find that profit gradually increases form 2010 to 2013 upto 120,   then starts decreasing.

the profits for 2012 and 2014 are the same while that of 2011 and 2015 are also the same.

this shows that there is symmetry about the line profit = 120000

hence answer is:

a.   since the profit made in 2012 is equal to the profit made in 2014, the profit is           symmetric about the line y = 120,000.

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