yansytorres46 yansytorres46

05-04-2018
Mathematics

contestada

How much money will be in a bank account after 3 years if $4 is deposited at an interest rate of 5%, and the interest is compounded annually?

Respuesta :

05-04-2018

The formula is the following :
[tex]4(1+0.05)^n[/tex]
Since we are computing for 3 years, then n=3 and then we get:
[tex]4(1+0.05)^3\approx4.6[/tex]
We get $4.6 after three years then.

Answer Link

Otras preguntas

If a laptop that is regularly priced at $1240 is 2 off, how much does it cost? 5

The temperature dropped by −2.5 Celsius degrees for 5 consecutive days. What was the total decrease in temperature over the 5-day period, expressed as a signed

What is 9,574.00 x 5.05% =

Simplify the ratio: 28:35

The temperature dropped by −2.5 Celsius degrees for 5 consecutive days. What was the total decrease in temperature over the 5-day period, expressed as a signed

Suppose an investment of $1,800 doubles in value every 7 years. How much is the investment worth after 42 years?

What does it mean to cube something, thank you

What is 5.7 subtracted by 4.2?

Simplify the ratio: 28:35

The early eastern European Slavic civilization at Kiev adopted the Eastern Orthodox religion, the Cyrillic alphabet, and certain styles of art and architecture

Q&A Education