How much would $500 invested at 6% invested compounded monthly be worth after 5 year? Round your answer to the nearest cent.
1 answer:
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Answer:
<em>Image attached</em>
Step-by-step explanation:
<u>Elements in a Circle</u>
Before drawing the 8 required elements in the circle, let's recall some basic definitions:
- Chord: A straight line whose extremes both lie on the circle
- Tangent: A straight line that touches the circle in one point and is perpendicular to the radius at the point of tangency
- Radius: It's a straight line from the center of a circle to its circumference
- Secant: It's a line that that intersects the circle in exactly two points
- Point of tangency: Is the point where the tangent line touches the circumference
- Diameter: It's a straight line from one point to the circle going through the center.
- Minor arc: Is an arc of a circle that measures less than or equal to 180 degrees
- Mayor arc: Is an arc of a circle that measures more than 180 degrees
Please refer to the image below to see all the elements described above
