Answer:
A).Amount = $218250
B). Amount = $88700
Step-by-step explanation:
A) .$5000 in an account at age 23, and withdraw it 42 years
Number of years t= 42 years
Principal P = $5000
Rate r= 9%
Number of times compounded n= 42
A= p(1+r/n)^(nt)
A= 5000(1+0.09/42)^(42*42)
A= 5000(1+0.002143)^(1764)
A= 5000(1.002143)^1764
A= 5000(43.65)
A= 218250
Amount = $218250
B).waits 10 years before making the deposit, so that it stays in the account for only 32 years
Number of years t= 32 years
Principal P = $5000
Rate r= 9%
Number of times compounded n= 32
A= p(1+r/n)^(nt)
A= 5000(1+0.09/32)^(32*32)
A= A= 5000(1+0.0028125)^(1024)
A= 5000(1.0028125)^1024
A= 5000(17.74)
A= 88700
Amount = $88700
Your answer is : B hope this helps
5/6(3/2) = 15/12
5/4
1 and 1/4 hours
Answer:
S = 3.500t
11 weeks, because in 11 weeks he will have saved up 38.500, + the 5 he has saved equals 43.500.
Step-by-step explanation:
Answer:
wait what?
Step-by-step explanation: