answersLogoWhite

0


Best Answer

6,209 compounded at 5.2% for 5 years yields 8,000

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: A student wants to save 8000 for college in five years How much should be put into an account that earns 5.2 percent annual interest compounded continuously?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Other Math

Zoe needs 30000 for college in 12 years time Will she have enough money for college if she invests 7250 at 10 interest compounded annually now?

no she will be short by some money around 7000


Karen deposited 8500 dollars in a college savings account for her grandson The account earns an annual simple interest rate of 6.5 percent How much money will she have at the end of ten years?

8500 x ((1.065) to the 10th power) = 15955.67


How does this compare to the fafsa?

Fafsa loans have a much lower interest rate than a loan you will get from the bank. Also, with fafsa a portion of your loan will be subsidized so you do not have to pay interest on that part. If you are already attending college talking to your financial counselor is the best bet.


What are polynomials used for in a real world example?

Real Wold (construction) 1. You are planning a rectangular garden. Its length is twice it's width x. You want a walkway 2 ft wide around the garden. a. Write an expression for the area of the garden and walk. b. Write an expression for the area of the walk only You have enough gravel to cover 76ft2 and want to use it all on the walk. How big should you make the garden? MEASURE YOUR YARD, WHY OVER COMPLICATE THINGS 2. Real World Connection Financial Planning Suppose you deposit $200 for college in a savings account that has an annual interest rate r. At the end of three years, the value of your account will be 2000(1 + r)3 dollars. A. Rewrite the expression 2000 (1 + r)3 by finding the product 2000(1 + r) (1 + r)( 1 + r). Write your answer in standard form. B. Find the amount of money in the account if the interest rate is 3% THAT SIMPLE OF A PROBLEM WOULD NEVER BE ON A COLLEGE MATH TEST, OR EVEN HIGH SCHOOL (AT LEAST WHERE I WENT TO SCHOOL IT WOULDN'T)


Where did Isaac go to college?

Trinity College, Cambridge

Related questions

Jeanne's parents want to begin saving money for her college education If they put 5000 in an account with an interest rate of 3.55 compounded annually how much money will Jeanne have after 12 yea?

$62130


Zoe needs 30000 for college in 12 years time Will she have enough money for college if she invests 7250 at 10 interest compounded annually now?

no she will be short by some money around 7000


Sara's grandmother gave her 3000.00 to save for college She put it in a savings account that earns 6 percent per year The money was in the account for 8 years How much simple interest did she earn?

Amount Deposited: $3000 Rate of Interest: 6% No. of Years: 8 Formula for Simple Interest = 3000 * 6 * 8 / 100 The simple interest she will earn in 8 years is $1440


Why are you interest to do job a college University?

I have no interest whatsoever in that.


An Easy Way To Save For College?

Saving for college is not one of the things teenagers think about, but it needs to be one of the most important ones. Parents can start saving for college when their children are young by putting money in a savings or trust account at the bank. The money will not be able to be accessed until the child is 18 or 21. The money in the account will gain interest over the years and anyone can put money into the account for the child.


What is an Oxford college account for food and accommodation?

An Oxford college account for food and accommodations is "battels."


How can I start saving for college?

Go to your bank and set up a savings account. Ask them about the possibility of opening a CD so that you could accumulate more interest. Get a job and have a percentage of your pay check go directly into savings for college.


Karen deposited 8500 dollars in a college savings account for her grandson The account earns an annual simple interest rate of 6.5 percent How much money will she have at the end of ten years?

8500 x ((1.065) to the 10th power) = 15955.67


How do I start a college savings account in Ohio?

There are many banks that one could start a college savings account from, however if you go to collegeadvantage.com they can help assist you with a 529 college savings account in Ohio.


When should one start a college fund for one's child?

It's never too soon to start a college fund for your children, or even future children's education. Starting out early gives you the opportunity to earn interest if saving in a bank account.


What are some places that offer special interest rates for college savings accounts?

Some places that offer special interest rates for college savings accounts include Citizens Bank and BBT. You can open an account online on their websites.


Do college check ooVoo account?

no