Brendan9420 Brendan9420

21-07-2017
Mathematics

contestada

If $10,000 is invested in an account at the rate of 6.25% compounded monthly, then the amount after 15 years is approximately

Respuesta :

Aliwohaish12 Aliwohaish12

21-07-2017

The formula is
A=p (1+r/k)^kt
A future value?
P present value 10000
R interest rate 0.0625
K compounded monthly 12
T time 15 years
A=10,000×(1+0.0625÷12)^(12×15)
A=25,473.84

Answer Link

Otras preguntas

An item on sale costs 60% of the original price. If the original price was $45 , what is the sale price?

Betsy has 10 more dimes than quarters if she has 3.45 how many coins does she have

write the balanced equation of roasting of baco3 in air

Naomi has 50 red beads and white beads. The number of red beads is 1 more than 6 times the number of white beads. How many red beads does Naomi have?

What is a fragment sentence?

Why are there more muslims in the island nations of southern africa than the mainland countries??

which of the following is an obstacle to creating computer based models for tracking hurricanes A. Hurricanes form over water, where it is difficult to observe

Nielsen purchases scanner data from retail transactions to compile, analyze, and resell to consumer packaged-goods firms so they can assess what is happening in

What is the gcf of 72,48,36??

According to Augustine, before God created the Earth, He was not part of man’s concept of time because He