amoon21 amoon21

01-12-2017
Mathematics

contestada

If I invest $3,500 at a rate of 10.5% compounded monthly, how much will I have after 10 years? Show your work

Respuesta :

Aliwohaish12 Aliwohaish12

01-12-2017

The formula is
A=p (1+r/k)^kt
A future value?
P present value 3500
R interest rate 0.105
K compounded monthly 12
T time 10 years
A=3,500×(1+0.105÷12)^(12×10)
A=9,956.20

Hope it helps!

Answer Link

Otras preguntas

A solution of methanol and water has a mole fraction of water of 0.312 and a total vapor pressure of 211 torr at 39.9 ∘C. The vapor pressures of pure methan ol

Which of the item(s) below are true about acid rain? 1.Acid rain affects our health. 2.Acid rain increases precipitation. 3.Acid rain increases the world's food

Describe the relationship of the organelles of the Endomembrane system.

2 of 5 If an atom loses and electron what type of ion does it form?

Bear pigmentation is subject to epistasis of the B alleles by the d alleles. B (black) is dominant over b (brown). D is dominant over d. Homozygous d is epistat

Frank Larsen argues for stricter gun control. It appears that Frank wants to abolish access to guns altogether. But if law-abiding citizens can't own a gun, the

Juan wants to start a lemonade stand to earn money. He needs money to purchase the materials before he can sell the lemonade and earn money. His mother agrees t

1)Why is a change in polarity useful in welding? 2)explain the function of Ae7013 welding rod. 3)list and explain 4 factors you need to observe while stick weld

A political polling organization wishes to select a smaller focus group from a group of 7 Republicans, 10 Democrats, and 2 Independents. In how many ways can th

There are five basic steps to personal financial planning and their related tasks. Arrange these steps and examples of related tasks in the order of their prese