The total amount of money accrued ( principal and interest ) in 35 years is $570.78.
<h3>What is the total amount accrued?</h3>
The formula for compound interest is expressed as;
A = P( 1 + r/t )^(n×t)
Given the data in the question;
- Principal P = $200
- Rate r = 3% = 3/100 = 0.03
- Compounded monthly n = 12
- Time t = 35
- Amount accrued in 35 years A = ?
Plug the given values into the equation above.
A = P( 1 + r/n )^(n×t)
A = 200( 1 + 0.03/12 )^(12×35)
A = 200( 1 + 0.0025 )^(420)
A = 200( 1.0025 )^(420)
A = 200( 2.85390914 )
A = $570.78
Therefore, the total amount of money accrued ( principal and interest ) in 35 years is $570.78.
Learn more about compound interest here: brainly.com/question/27128740
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Answer:
42,000 X 6 % = $2520.00
42,000 x 2 = 84,000
84,000 x 6% = $5,040
Step-by-step explanation:
16 I just know that it's 16 GL to ya
Answer:
x=-5
Step-by-step explanation:
-4(x-5)=40
-4x+20=40
-4x=40-20
x=20/-4
x=-5
Answer:
The commutative property states that the numbers on which we operate can be moved or swapped from their position without making any difference to the answer. The property holds for Addition and Multiplication, but not for subtraction and division. Addition. Subtraction.
Step-by-step explanation:
The commutative property states that the numbers on which we operate can be moved or swapped from their position without making any difference to the answer. The property holds for Addition and Multiplication, but not for subtraction and division. Addition. Subtraction.
