jenavieacosta10
jenavieacosta10 jenavieacosta10
  • 18-03-2021
  • Mathematics
contestada

if you deposit 4500 at 5% annual interest compounded annually how much money will be in the account after 30 months

if you deposit 4500 at 5 annual interest compounded annually how much money will be in the account after 30 months class=

Respuesta :

senpaicaffeinated
senpaicaffeinated senpaicaffeinated
  • 18-03-2021

Answer:

A = $ 50,978.44

Step-by-step explanation:

First, convert R percent to r a decimal

r = R/100

r = 5%/100

r = 0.05 per year,

Then, solve our equation for A

A = P(1 + r/n)nt

A = 45,000.00(1 + 0.004166667/12)(12)(2.5)

A = $ 50,978.44

Answer Link

Otras preguntas

steps taken to conserve the flora and fauna of the country ?
Is this correct? I have tried and want it checking
who is the vice president of the US
the model an=395n +5419 describes the cost of tution and fees at public colleges in academic year n, where n=1 corresponds to the school year ending in 2007,n=2
Perform the indicated in operation and write in standard form. (2-3i)+(4+8i)
What new direction did civil rights leaders take in the mid-1960s?
Determine the principal P that must be invested at rate r = 7%, compounded monthly, so that $500,000 will be available for retirement in t = 19 years. (Round yo
Perform the indicated operation and write and standard form. -7i(6i-3)
Is this correct? I have tried and want it checking
how to solve 42-13 1/6