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
vaieri [72.5K]
3 years ago
13

How much would $200 invested at 5% interest compounded monthly be worth after 9years? Round your answer to the nearest cent

Mathematics
1 answer:
Feliz [49]3 years ago
4 0

Answer:

$311.20

Step-by-step explanation:

Here we are required to use the Compound interest formula for finding the Amount at the end of 9th year

The formula is given as

A=P(1+\frac{r}{n})^{tn}

Where ,

A is the final amount

P is the initial amount = $200

r is the rate of interest = 5% annual = 0.05

n is the frequency of compounding in a year ( Here it is compounding monthly) = 12

t is the time period = 9

Now we substitute all these values in the formula and solve for A

A=200(1+\frac{0.05}{12})^{9\times 12}

A=200(1+0.00416)^{108}

A=200(1.00416)^{108}

A=200 \times 1.556

A=311.20

Hence the amount after 9 years will be $311.20

You might be interested in
10 feet wide by 30 feet long by 1/3 foot deep.what is the volume?
Ket [755]
----------------------------------------------
Formula
----------------------------------------------
Volume = Length x Width x Height

----------------------------------------------
Apply Formula
----------------------------------------------
Volume = 10 x 30 x 1/3 = 100 ft³

----------------------------------------------
Answer: 100 ft³
----------------------------------------------
4 0
2 years ago
Read 2 more answers
List the first four terms of the geometric sequence.
luda_lava [24]

Answer:

you dont have to say nothing

Step-by-step explanation:

your dum anyways u cant even do nothing right u just on brainly to chet cant do school work and  that u are going to fail so sad

3 0
3 years ago
The mean MCAT score 29.5. Suppose that the Kaplan tutoring company obtains a sample of 40 students with a mean MCAT score of 32.
Paul [167]

Answer:

We conclude that the students that took the Kaplan tutoring have a mean score greater than 29.5.

Step-by-step explanation:

We are given that the Kaplan tutoring company obtains a sample of 40 students with a mean MCAT score of 32.2 with a standard deviation of 4.2.

Let \mu = <u><em>population mean score</em></u>

So, Null Hypothesis, H_0 : \mu \leq 29.5      {means that the students that took the Kaplan tutoring have a mean score less than or equal to 29.5}

Alternate Hypothesis, H_A : \mu > 29.5      {means that the students that took the Kaplan tutoring have a mean score greater than 29.5}

The test statistics that will be used here is <u>One-sample t-test statistics</u> because we don't know about population standard deviation;

                               T.S.  =  \frac{\bar X-\mu}{\frac{s}{\sqrt{n} } }  ~ t_n_-_1

where, \bar X = sample mean MCAT score = 32.2

            s = sample standard deviation = 4.2

            n = sample of students = 40

So, <u><em>the test statistics</em></u> =  \frac{32.2-29.5}{\frac{4.2}{\sqrt{40} } }  ~  t_3_9

                                    =  4.066

The value of t-test statistics is 4.066.

Now, at 0.05 level of significance, the t table gives a critical value of 1.685 at 39 degrees of freedom for the right-tailed test.

Since the value of our test statistics is more than the critical value of t as 4.066 > 1.685, so <u><em>we have sufficient evidence to reject our null hypothesis</em></u> as it will fall in the rejection region.

Therefore, we conclude that the students that took the Kaplan tutoring have a mean score greater than 29.5.

3 0
3 years ago
.
Dahasolnce [82]

Answer:

C (3x4) + (5x2) + 20

Step-by-step explanation:

3 things that cost 4 dollars. 5 things that cost 2 dollars and one that cost 20.

3 0
3 years ago
A bakery uses 300 pounds of flour to make 120 wedding cakes of the same size. At this rate how many pounds of flour are needed t
ElenaW [278]
The answer is 13 minutes and b
4 0
2 years ago
Read 2 more answers
Other questions:
  • I don't understand this problem, please help?!?!?!
    12·1 answer
  • The mass of the earth is 5.97x10 24 kilograms. the mass of the moon is 7.34 x 10 22 kilograms
    8·1 answer
  • Shania is making a scale diagram of the badminton court at the community center. She uses a scale of 1 centimeter to 0.5 meter t
    14·1 answer
  • Alice separated her pictures into 3 piles. Each pile contained 9 pictures. How many pictures did she have in all? Write and solv
    7·2 answers
  • The sugar is sold at &amp; 5.4 per kg at
    10·1 answer
  • Can someone explain to me what 7.1 x 10^-3 is in standard form?
    7·1 answer
  • Question below in image
    15·1 answer
  • Which statement best describes the relationship between x and y in the equation y = 3x? A. The value of y is three less than the
    12·1 answer
  • Someone help me I will make you brain
    5·2 answers
  • Solve for n<br> 2/5n+3-7/10n=3/5-3n
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!