1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ch4aika [34]
1 year ago
7

Betty invests $45,000 into a cd which has an interest rate of 6.3% that compounds monthly for a total of 5 years. how much will

betty have after the 5 years? (rount to the nearest dollar)
Mathematics
1 answer:
Lelechka [254]1 year ago
5 0

~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$45000\\ r=rate\to 6.3\%\to \frac{6.3}{100}\dotfill &0.063\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{monthly, thus twelve} \end{array}\dotfill &12\\ t=years\dotfill &5 \end{cases} \\\\\\ A=45000\left(1+\frac{0.063}{12}\right)^{12\cdot 5}\implies A=45000(1.00525)^{60}\implies A\approx 61611

You might be interested in
- IZ
Yakvenalex [24]

Step-by-step explanation:

Subtract initial amount (300) and final (150). from there you get 150 dollars that was lost. We know that every step you 5 dollars so then divide 150 and 5 to get 30. So the distance was 30 steps.

3 0
3 years ago
. Solve the following equations for x: 3x=30
pishuonlain [190]

\mathcal \pink{Answer}

\mathcal \green{3x = 30}

\mathcal \blue{ \frac{3x}{3}  =  \frac{30}{3} }

\mathcal \red{x = 10}

3 0
2 years ago
Read 2 more answers
Alesha has $25. She spent $4 on lunch and $3 for a book everyday. How many days could Alesha use the money for?
Xelga [282]
4+3 = 7
This is the amount of dollars spent each day
25/7 = 3 4/7
This means the money will last for 3 days.
3 0
2 years ago
A total of 428 tickets were sold for the school play. They were either adult tickets or student tickets. The number of student t
aalyn [17]
321 adult tickets were sold use the formula to solve
108 student tickets were sold 
6 0
3 years ago
I need help on this one
cupoosta [38]
593-540=53
9 R8
I hope that helped u:))
3 0
3 years ago
Other questions:
  • Abigail made a quilt that has the area of 4,800 sq. inches. The length of the quilt is 1 1/3 times the width of the quilt. What
    5·1 answer
  • Write 4 litres 150 ml to the nearest half a lirter
    15·1 answer
  • Predict which statements are true about the intervals of the continuous function. Check all that apply.
    6·2 answers
  • 3/4 of a right angle, 5/4 of a right angle, 5/3 of a right angle, and 2/3 of a full turn
    11·1 answer
  • I need the answer for (y 7)4 8-5y
    10·1 answer
  • A person is working at a constant rate. If he produces 15 details in 8 hours, how long does he need to work to produce 18 detail
    11·1 answer
  • HELP PLEASE ASAP MARKING BRAINLY
    9·1 answer
  • What is the simplest form of 10 radical 2?
    11·1 answer
  • Part b assume the statement is true for n = k. prove that it must be true for n = k + 1, therefore proving it true for all natur
    10·1 answer
  • does the assumption of a poisson distribution with a mean of 6.0 seem appropriate as a probability model for these data? use 0.0
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!