All categories

2 years ago

If a person lnvests $120 at 8% annual interest, find the approximate value of the investment at the end of 5 years

Mathematics

1 answer:

Pie2 years ago

6 0

Answer:

$176.3193692 or $176.32 (rounded to two decimal places)

Step-by-step explanation:

It is a compound interest, which means the interest accumulates on an initial amount each period.

The formula is A=P(1+R)^n

A= the total amount P=initial amount R=rate n=time (years)

P=$120 Rate= 8% or 0.08 (decimal) n=5 (years)

A=120 (1+0.08)^2

A=120 (1.469328077)

A= 176.3193692

You might be interested in

A toy box contains eight green balls and four purple balls. Suppose you choose a ball at random and then replace it by putting i

dedylja [7]

Answer: C. $\dfrac{1}{3}$

Step-by-step explanation:

Given: Box contains 8 green balls and 4 purple balls.

Total balls = 8+4 = 12

event 1 = first picking green ball

event 2 = second picking purple balls.

As first ball was replaced, that means both events are independent.

Probability that you have selected a green ball and then a purple ball = P(purple ball )

Formula for probability = $\dfrac{\text{favorable outcomes}}{\text{total outcomes}}$

Probability of selecting a purple ball (second pick)= $\dfrac{4}{12}$

$=\dfrac{1}{3}$

The required probability $=\dfrac{1}{3}$ , so C is correct option.

3 0

3 years ago

The sports shop has 9 part-time employees and 21 full-time employees. What percentage of the employees at the sports shop work p

eduard

Answer:

30% of employees work part-time

Step-by-step explanation:

i just added 9 and 21 which is 30 and then i figured out that 9 is 30% of 30

7 0

3 years ago

Solve the inequality: -2z - 3 < 5

Ghella [55]

Answer:

z>-4

Step-by-step explanation:

6 0

2 years ago

Read 2 more answers

Which unit represents speed? joules newtons miles per hour kilometers per second

Usimov [2.4K]

Answer:

Miles per hour and

Kilometres per second.

Step-by-step explanation:

3 0

3 years ago

Read 2 more answers

the cheese that ms.carter used to buy costs $6.00 per pound, but it's been marked up to 15%. suppose ms.carter buys 3.5 pounds o

kap26 [50]

Original price:
6(3.5)
21
New Price:
1.15(21)
24.15

24.15-21
$3.15 more

5 0

3 years ago

Read 2 more answers