If $10,000 is invested in an account at the rate of 6.25% compounded monthly, then the amount after 15 years is approximately

1 answer:

5 0

The formula is
A=p (1+r/k)^kt
A future value?
P present value 10000
R interest rate 0.0625
K compounded monthly 12
T time 15 years
A=10,000×(1+0.0625÷12)^(12×15)
A=25,473.84

You might be interested in

Evaluate the following expression. 3^-2

Crazy boy [7]

Answer: The simplified form is $\frac{1}{9}$

Step-by-step explanation:

Since we have given that

$3^{-2}$

As we know the "Exponential law":

$a^{-1}=\frac{1}{a^m}$

So, it becomes

$3^{-2}=\frac{1}{3^2}$

Now, at last it becomes,

$3^{-2}=\frac{1}{3\times 3}=\frac{1}{9}$

Hence, the simplified form is $\frac{1}{9}$

8 0

3 years ago

Read 2 more answers

SOLVE THE EQUATION!!!!!!!!

ololo11 [35]

C: 2,6 and d: 0,26 i hope it helped :)

8 0

3 years ago

Read 2 more answers

Solve <br><br> x^2-4=77<br><br> E2020

Oxana [17]

Answer:

Step-by-step explanation:

3 0

3 years ago

Read 2 more answers

PLS HELP ME WITH THE QUESTION IN THE PICTURE BELOW :D

Yuri [45]

Answer

the answer is D.

8 0

2 years ago

Read 2 more answers

Suppose a marketing company wants to determine the current proportion of customers who click on ads on their smartphones. It was

andrezito [222]

Answer:

The 92% confidence interval for the true proportion of customers who click on ads on their smartphones is (0.3336, 0.5064).

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of $\pi$ , and a confidence level of $1-\alpha$ , we have the following confidence interval of proportions.