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
svetoff [14.1K]
3 years ago
6

Assume 5000 is deposit in an account that pays 6% annual interest how much more would be in the account after 25 years if it wer

e compounded monthly rather then quarterly
Mathematics
1 answer:
Harrizon [31]3 years ago
8 0

Answer:

\$164.62

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

A=P(1+\frac{r}{n})^{nt}  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

case A) <em>compounded monthly </em>

in this problem we have  

t=25\ years\\ P=\$5,000\\ r=0.06\\n=12  

substitute in the formula above  

A=\$5,000(1+\frac{0.06}{12})^{12*25}=\$22,324.85  

case B) <em>compounded quarterly </em>

in this problem we have  

t=25\ years\\ P=\$5,000\\ r=0.06\\n=4  

substitute in the formula above  

A=\$5,000(1+\frac{0.06}{4})^{4*25}=\$22,160.23  

<em>Find the difference</em>

\$22,324.85-\$22,160.23=\$164.62

You might be interested in
Can someone please help me I really need help please help me thank you
NARA [144]

Answer: x=14

Step-by-step explanation: The total is 180 degrees. The right angle is 90, the given angle is 76, so x is 14.

7 0
3 years ago
HELPP FOR BRAINLEST RIGHT NOW!!!!
Verdich [7]

Answer: Counter, 0, 0.

Step-by-step explanation:

Think about a clock. The hand of a clock goes clockwise. When you tighten something (righty tighty) you spin it clockwise. You can rotate an object, lets say a square, clockwise. You can also rotate it counterclockwise, in the other direction. Therefore, you can rotate an object clockwise and <u>counter</u>clockwise.

You can rotate a figure around any point, such as the center of the figure, the origin, or anywhere else. One common place to rotate a figure around, such as a square, is the origin. This is the center of the coordinate plane. This point is not up, down, left, or right at all from the center. This coordinate is (0, 0). Therefore, the next two blank spaces should both be filled with 0.

The blank spaces should look like this:

One direction is clockwise and the other is <u>counter</u>clockwise.

...

This can be any coordinate point such as the origin which is at (<u> </u><u>0</u><u> </u>, <u>0</u><u> </u>)

5 0
2 years ago
Solve the formula for one of its variables using addition subtraction and/ or division
Tpy6a [65]

THE ANSWER IS

pi r ^2 / V

or pi r squared over V

5 0
3 years ago
HELP PLZ
Lera25 [3.4K]

Answer:

the answer is 28 for A the answer for B is -5 for A, 15 for B, and -6 for C

Step-by-step explanation:

3 0
2 years ago
A spherical tank has a radius of 6 yards. It is filled with a liquid the cost $7.15 per cubic yard.
mote1985 [20]
We have two questions, but we need to find the volume of the spherical tank first.
So the formula we will use to find the volume is:
(4/3)πr³=V
Let's fill in the information we have and solve. We will be using 3.14 for pi.
(4/3)(3.14)6³
(4/3)(3.14)(216)
4.1867×216
I'll be using the repeating decimal for 4.1867, I rounded to 7, but there is a repeating 6.
904.32
So the volume is 904.32 yards³ (or 904.78 if using the full pi)
We have to multiply the volume by 7.15.
904.32×7.15
6,465.89
It will cost $6,465.89 to fill the tank with the liquid.
3 0
3 years ago
Read 2 more answers
Other questions:
  • The volume of
    9·1 answer
  • Which of the following is a monomial?
    7·2 answers
  • What is the difference between algebraic expression and algebraic equation?
    6·2 answers
  • -6x + 3(x - 5) - 2x = -25
    8·2 answers
  • Create an equation for a line that contains<br> 3<br> the point (2, 2) and has slope m = 2
    12·1 answer
  • Identify the slope.Nadia's pool already has 1000 gallons of water when she begins to fill it. It fills at a rate of 22 gallons p
    10·1 answer
  • Can someone help me and work it out plzzzz
    7·1 answer
  • Complete the table of values for function A
    14·1 answer
  • 12.5,−10,−7.5,x; The mean is 11.5.
    12·1 answer
  • What is the area of the figure below?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!