💡Manténganos En Su Caja De Herramientas Matemáticas de estudio- MÁRQUENOS
MÁRQUENOS
close
girl-logo

Hacer preguntas

Pregunta

Medina Newton

22/03/2021 · Escuela secundaria superior

An equation of the form \(y = 6000 ( 1.06 ) ^ { x } \) provides an example of interest compounded annually. This means that the full \(6 \% \) of interest is added to the account at the end of one year. This doesn't sound very fair to someone that invests their money for \(11\) months-they get no Interest at all. This became a competitive disadvantage for financial institutions, and some began to divide the annual interest into periodic shares, so that (for example) you could get \(1/12^ { th} \) of that \(6 \% \) each month. When this happens, we say that interest is compounded monthly. Interest can also be compounded weekly (52 times per year), quarterly ( \(4\) times per year), daily ( \(365\) times per year), or really any other period you could think of. 

If interest is compounded monthly, what growth factor would be needed to provide \(1/12^ { th} \) of \(6 \% \) interest each month? (Think about the difference between interest rate and growth factor.) 

The growth factor would be \(\square \) 

Responder
expertRespuesta verificada por expertos

Schofield Ryan
Competent Tutor
4.0 (15votos)

1.005

¿Todavía tienes preguntas?
Pregunte a UpStudy en línea

  • Experto 24/7 tutores en vivo

  • Ilimitadonúmeros de preguntas

  • Paso a pasoexplicaciones

Descargar UpStudy
📸 EL ESTUDIO PUEDE SER UNA VERDADERA LUCHA
Por qué no UpStudy It?
Seleccione su plan a continuación
Prima

Puedes disfrutar

  • Paso a paso explicaciones
  • Experto 24/7 tutores en vivo
  • Ilimitado número de preguntas
  • Sin interrupciones
  • Acceso completo para responder y
    solución
Básico
  • Limitado Soluciones