If $1200 is borrowed at 9% interest, find the amounts due at the end of 4 years if the interest is compounded as follows. (Round your answers to the nearest cent.) (i) annually $ 1693.9 Correct: Your answer is correct. (ii) quarterly $ 1204.3 Incorrect: Your answer is incorrect. (iii) monthly $ (iv) weekly $ (v) daily $ (vi) hourly $ (vii) continuously $

Answer and Explanation:

(i) The computation of compound interest for annual is shown below:-

Compound interest = A = P × (1 + r ÷ n)^t

= $1,200 × (1 + 9% ÷ 1)^1 × 4

= $1,200 × (1.09)^4

= $1,693.897932

or

= $1,693.90

(ii) The computation of compound interest for quarterly is shown below:-

= $1,200 × (1 + 9% ÷ 4)^4 × 4

= $1,200 × (1.09)^16

= $1,713.145749

or

= $1,713.15

Since it is quarterly so we divide the interest rate by 4 and multiply the time period by 4

(iii) The computation of compound interest for monthly is shown below:-

= $1,200 × (1 + 9% ÷ 12)^4 × 12

=  $1,200 × (1.0075)^48

= $1,717.6864

or

= $1,717.69

Since it is monthly so we divide the interest rate by 12 and multiply the time period by 12

(iv) The computation of compound interest for weekly is shown below:-

= $1,200 × (1 + 9% ÷ 52)^4 × 52

= $1,200 × (1.432883461 )^208

= $1719.460154

or

= $1,719.46

Since it is weekly so we divide the interest rate by 52 and multiply the time period by 52

(v) The computation of compound interest for daily is shown below:-

= $1,200 × (1 + 9% ÷ 365)^4 × 365

= $1,200 × (1.43326581  )^1460

= $1719.918972

or

= $1719.92

Since it is daily so we divide the interest rate by 365 and multiply the time period by 365

(vi) The computation of compound interest for hourly is shown below:-

= $1,200 × (1 + 9% ÷ 8760)^4 × 8760

= $1,200 × (1.433326764   )^35,040

= $1,719.992117

or

= $1719.99

(vii) The computation of compound interest for continuously is shown below:-

A = Pe^rt

= 1,200e^0.09 × 4

= 1,200e^0.36

= $1,720.00

b

explanation:

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.