Login|Contact Us
Question and Answer

Business and Finance Homework

Ask a Business and Finance Homework Question, Get an Answer ASAP!

  • Ask A Question
  • Browse Answers
  • Meet The Experts
  • How JustAnswer Works

Hi how are you today? Just a question on Exponential Growth

 

Customer Question

Hi how are you today? Just a question on Exponential Growth I have a question here which is:
A principle of $500 is invested at 7.5% compounded monthly for 7 years.
a) Calculate the accumulated intrest at the end of each year.
b) Draw a graph to show the accumulated intrest.
c) Use the graph to determine when the accumulated intrest is $250.

This is my answer: A=(500)(1+0.075/12)^84 which worked out gives me A=$843.85 so total intrest earned is $343.85. so the answer to a would be: Year(s) 1-$38.82, 2-$41.83, 3-$45.07, 4-$48.58, 5-$52.35, 6-$56.41, 7-$60.79
Now for the next 2 questions b and c this is where I am not sure what to do. Do I graph it the same as simple intrest and if so how does that work because the line would then kinda bounce around would it not are there any good websites to get an idea about this. As for c I am not sure I really know what they are asking for this.

 

Optional Information:
Level/Year: Grade 11 college prep
Subject: Exponential Growth, Compounded Interest

Submitted: 458 days and 22 hours ago.
Category: Business and Finance Homework
Value: $20
Status: CLOSED
Picture
Expert:  guru2009 replied 458 days and 22 hours ago.

Hi, Welcome to Just Answer!

It appears the values you are taking for interest axis (y- axis) may be incorrect. I am working the graph portion now. Will post all the answers shortly.

Thanks.

Accepted Answer

Picture
Expert:  guru2009 replied 458 days and 21 hours ago.

Hi

 

Click this link and take the solutions

 

http://www.mediafire.com/?is96jq2kfo396m1

 

 

(Please click ACCEPT. BONUS is welcome. Thanks.)

 

Expert Type
Category: Business and Finance Homework
Pos. Feedback: n/a
Accepts: 0
Answered: 1/9/2012

Experience:

Ask this Expert a Question >
 
Tweet

5 Business Tutors are Online Right Now

Ask Your Question Now
Ask A Business Tutor
Type Your Business and Finance Homework Question Here...
characters left:

Top Business and Finance Homework Experts

See More Business Tutors

In The News

Nbc
Washington Post
New York Times
Cnn
Learn More

How It Works

  • Ask an Expert
  • Get a Professional Answer
  • Ask Followup Questions
  • 100% Satisfaction Guarantee
Learn More
close
Find Expert answers related to your question.
Sign up using email
We will never post anything without your permission.
Already have an account? Sign in

Ask a Business Tutor

Get a Professional Answer. 100% Satisfaction Guaranteed.
184 Business Tutors are Online Now
Type Your Business and Finance Homework Question Here...
characters left:
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.
Truste
Contact Us | Terms of Service | Privacy & Security | About Us
© 2003-2013 JustAnswer LLC