Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.
Step-by-step explanation:
The given is,
Investment = $ 8000
No. of years = 15 years
Interest rate, i = 3.1 %
( compounded monthly )
Step:1
For for calculating future value with compound interest monthly,
.................(1)
Where,
A = Future amount
P = Initial investment
r = Rate of interest
n = Number of compounding in a year
t = Time period
Step:2
From given values,
P = $8000
r = 3.1%
t = 15 years
n = 12 ( for monthly)
Equation (1) becomes,





A = $ 12728.48
Result:
Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.
not riding a motor cycle given that they read
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reading
5
----
12
.41666666666
rounding to the nearest hundredth
.42
Answer:
x = 3
Step-by-step explanation:
you would divide both sides by three to get the x alone giving you
x = 9/3
U need 2 and 1/3 cups to make 1 batch of granola bars and 1/2 of that is 1 and 1/6 cups of almonds. 10-1 and 1/6 is 8 and 5/6
Answer:
98º
Step-by-step explanation:
The sum of angles in a triangle is 180
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The missing angle in the triangle
180 - 45 - 53 = 82º
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x is supplementary to 82º
x = 180 - 82
x = 98º