Using the Compound Interest Tables, Answer the Following Questions

question 67

Essay

Using the compound interest tables, answer the following questions.
Required:
a. How much will be accumulated on January 1, 2018 if $450,000 is deposited on January 1,
2014, and interest is compounded annually at 10%?
b. How much will be accumulated on December 31, 2024 if $80,000 is deposited on
December 31, 2014, and the fund pays 9% interest compounded semiannually?
c. What will be on deposit on January 1, 2019 if $50,000 is deposited on January 1, 2014, in a fund that earns 16% interest compounded quarterly?

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Definitions:

Scatter Plot

A graphical representation that displays the relationship between two quantitative variables by using dots.

Slope

In mathematics, the slope represents the steepness or angle of a line, defined as the ratio of the vertical change to the horizontal change between two points on the line.

Simple Linear Regression

A statistical method for modeling the relationship between a single independent variable and a dependent variable by fitting a linear equation to observed data.

Least Squares

A mathematical method used to determine the best-fitting line through a set of data points by minimizing the sum of the squares of the differences between observed and estimated values.