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Mathematics

1 answer:

Tpy6a [65]3 years ago

5 0

1.D
2.B
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4.C
5.C
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Finance. Suppose that $ 3 comma 400 is invested at 4.4 % annual interest rate, compounded monthly. How much money will be in th

Yuki888 [10]

Answer:

There would be $3,450.14 by the end of 4 months

There would be $4,623.78 by the end of 7 years.

Step-by-step explanation:

We are given the following in the question:

P = 3,400$

r = 4.4% = 0.044

Compounded monthly

Formula:

The compound interest is given by:

$A = p\bigg(1+\dfrac{r}{n}\bigg)^{nt}$

where A is the amount, p is the principal, r is the interest rate, t is the time in years and n is the nature of compound interest.

a) 4 months

$A = 3400\bigg(1+\dfrac{0.044}{12}\bigg)^{4}\\\\A = \$3,450.14$

There would be $3,450.14 by the end of 4 months.

b) 7 years

t = 7

$A = 3400\bigg(1+\dfrac{0.044}{12}\bigg)^{84}\\\\A = \$4,623.78$

There would be $4,623.78 by the end of 7 years.

3 0

3 years ago

7.209 x 10 -4 in standard form

astraxan [27]

$\huge\textbf{Hey there!}$

$\mathsf{7.209\times10^{-4}}\\\\\mathsf{\approx 7.209\times\dfrac{1}{10\times10\times10\times10}}\\\\\mathsf{\approx 0.000721}\\\\\mathsf{\approx 7.21\times10^{-4}}\\\\\huge\textbf{Therefore, your answer is: \boxed{\mathsf{7.21\times10^{-4}}}}\huge\checkmark$