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A person places Rs 500 in an account tha...

A person places Rs 500 in an account that interest compounded continuously. Assuming no additional deposits or withdrawals, how much will be in the account after seven years if the interest rate isa constant 8.5 percent for the first four year and a constant 9.25 percent for the last three years

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To solve the problem step by step, we will break it down into two parts: the first four years with an interest rate of 8.5%, and the last three years with an interest rate of 9.25%. ### Step 1: Calculate the amount after the first 4 years 1. **Initial Deposit**: \[ P = 500 \text{ Rs} \] ...
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Knowledge Check

  • Becca deposites $100 into a bank account that earns an annual interest rate of 4% . If she does not make any additional deposits and makes no withdrawals how long will it take her, in year, to increase the value of her account by at least 60%?

    A
    `12`
    B
    `15`
    C
    `25`
    D
    `30`

  • Becca deposits $100 into a bank account that earns an annual interest rate of 4%. If she does not make any additional deposits and makes no withdrawals, how long will it take her, in years, to increase the value of her account by at least 60%?

    A
    12
    B
    15
    C
    25
    D
    30

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