jelagqrciz13444 jelagqrciz13444

16-09-2021
Mathematics

contestada

A savings account of $5,000 compounded at an annual interest rate of 7% for 5 years will have how much total in the account?

Respuesta :

sqdancefan sqdancefan

19-09-2021

9514 1404 393

Answer:

$7,012.76

Step-by-step explanation:

The compound interest formula is ...

A = P(1 +r)^t . . principal P invested at rate r for t years, compounded annually

A = $5000(1 +0.07)^5 ≈ $7,012.76 . . . in the account after 5 years

Answer Link

Otras preguntas

Why might things far away and long ago be important to us now.

4a + 3 - 9 = -7 + 2 + a

Choose the equation below that represents the line passing through the point (2, -4) with a slope of 1/2. A) y = 1/2 x + 5 B) y = 1/2 x - 3 C) y = 1/2 x - 5 D)

Why might things far away and long ago be important to us now.

Choose the equation below that represents the line passing through the point (2, -4) with a slope of 1/2. A) y = 1/2 x + 5 B) y = 1/2 x - 3 C) y = 1/2 x - 5 D)

What's the answer to 1\2x+3=9

What's the answer to 1\2x+3=9

Choose the equation below that represents the line passing through the point (2, -4) with a slope of 1/2. A) y = 1/2 x + 5 B) y = 1/2 x - 3 C) y = 1/2 x - 5 D)

write the following ratio in simplest form : 32 min : 36 min A. 8 : 9 B. 8 : 36 C. 32 : 9 D. 128 : 144

what can turn igneous rock into sediment?