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

Relax

Respuesta :

Aliwohaish12
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

A bag contains 9 blue marbles and 1 green marble. What is the probability of drawing a blue marble followed by a green marble, without replacing the first marbl
What happens when biomass decays?
the scale is 2 inches:4 feet ,find the scale factor
Joey can assemble all of his factory work in four hours. Phil takes six hours to assemble the same amount of factory work. If they worked together to assemble t
What happens to carbohydrates during cellular respiration?
I need help in writing a topic sentences for the qualities of an ideal teacher? And What are the qualities of an ideal teacher and how are they applied? What ch
Make the word "upheaval" in a complete sentence
What happens to carbohydrates during cellular respiration?
What are Some Euphemisms for Being Crazy?
How many tablespoons are in 1 gill?