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kondor19780726 [428]
2 years ago
8

An engineer deposits $2,000 per month for four years at a rate of 24% per year, compounded semi-annually. How much will he be ab

le to withdraw 10 years after his last deposit?
Mathematics
1 answer:
Alex17521 [72]2 years ago
5 0

The amount of money he will be able to withdraw after 10 years after his last deposit is $926,400.

<h3>Compound interest</h3>

  • Principal, P = $2,000 × 12 × 4

= $96,000

  • Time, t = 10 years
  • Interest rate, r = 24% = 0.24
  • Number of periods, n = 2

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

= $96,000( 1 + 0.24/2)^(2×10)

= 96,000 (1 + 0.12)^20

= 96,000(1.12)^20

= 96,000(9.65)

= $926,400

Therefore, the amount of money he will be able to withdraw after 10 years after his last deposit is $926,400

Learn more about compound interest:

brainly.com/question/24924853

#SPJ4

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So, multiply by two, what you do to the top do to the bottom. = 12/16

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Or you can reduce, 6/8 divide by 2 = 3/4.

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Step-by-step explanation:

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  2. so take away 6x from the left that leaves 0 your equation should look like this 4=-3+7x remember that we have to to it to the right side too
  3. so take 6x away from the 7x on the right side and that leaves 1x so it should look like this 4=-3+1x
  4. then since it's a -3 you will need to add 3 for it ton equal 0 so it will look like this 4=7x
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