lhrwkuk lhrwkuk
  • 30-06-2019
  • Mathematics
contestada

How much would $300 invested at 4% interest compounded monthly be worth after eight years?

Respuesta :

JiminBang
JiminBang JiminBang
  • 30-06-2019

Answer:

$412.91

Step-by-step explanation:

A(t) = P(1+r/n)^nt (equation)

A(8) = 300(1+0.04/12)^12(8) (plugging it in)

A(8) = 300(1+0.04/12)^96 (simplifying)

A(8) = 300(1.033)^96 (adding up everything)

A(8) = $412.91 (answer)

Answer Link

Otras preguntas

In 1775, the population of the colonies included about _______ African slaves. a. 100,000 b. 500,000 c. 100,000,000 d. 50,000
An oil embargo on the part of these two nations helped to force Japan into attacking the United States.
a driver accelerates his first car at the rate of 1.8 m/s2 and then at the rate of 1.2m/s2. calculate the ratio of the force exerted by the engine in the two ca
how do you simplify the fraction 252 over 288?
Solve by substitution or elimination; x+2y=-1 x-y=5
3/4 of your books are fiction. 2/3 of those are historical fiction. What fraction of your books is historical fiction?
Why is 4 x 9 equal to 9 x 4?
how do you change 0.0112 in to a fraction?
Please help me with paragraph 12, thank you very much
3/4 of your books are fiction. 2/3 of those are historical fiction. What fraction of your books is historical fiction?