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3 years ago

Miguel deposits $5000 in an account

1 answer:

5 0

Then the amount of money will he have in his account after 10 years will be $7,454.16. Then the correct option is B.

<h3>What is compound interest?</h3>

Compound interest is the interest on a loan or deposit calculated based on the initial principal and the accumulated interest from the previous period.

Miguel deposits $5000 in an account earning 4% interest compounded monthly.

Then the amount of money will he have in his account after 10 years will be

We know the compound interest formula.

$A = P (1 + r)^t$

Where

A = amount

P = principal

r = rate of interest

t = time period (in year)

Then we have

$\rm A = 5000 (1 + 0.04)^{10}\\\\A = 5000 (1.04)^{10}\\\\A = \$ \ 7454.16$

More about the compound interest link is given below.

brainly.com/question/25857212

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3 years ago

Can anyone show me this in verbal form?

Andrei [34K]

Answer:

2 * (x + 2) = 50

Step-by-step explanation:

Let's call the unknown number x. "A number and 2" means that we need to add the numbers, therefore it would be x + 2. "Twice" means 2 times a quantity so "twice a number and 2" would be 2 * (x + 2). "Is" denotes that we need to use the "=" sign and because 50 comes after "is", we know that 50 goes on the right side of the "=" so the final answer is 2 * (x + 2) = 50.

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