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
blondinia [14]
3 years ago
7

if an amount of $5,000 is deposited into a savings account at an annual interest rate of 5%, compounded monthly, what is the val

ue of the investment after 10 years?
Mathematics
1 answer:
Ugo [173]3 years ago
5 0

Answer:

$8,240

Step-by-step explanation:

We are given that,

Principle amount in the savings account, P = $5,000.

Rate of interest, r = 5% = 0.05

Time period, t = 10

Also, the interest is compounded monthly, n = 12

As, we now that the value of the investment is given by P(1+\frac{r}{n})^{nt}

Thus, we have,

Investment Value = 5000(1+\frac{0.05}{12})^{12\times 10}

i.e. Investment Value = 5000(1+\frac{0.05}{12})^{12\times 10}

i.e. Investment Value = 5000(1+0.00417)^{120}

i.e. Investment Value = 5000\times 1.648

i.e. Investment Value = $8,240

Hence, the investment amount after 10 years is $8,240.

You might be interested in
A box contains marbles of five different colors: red, green, blue, yellow, and purple. there is an equal number of each color. a
olga nikolaevna [1]
P(red) = 1/5     [that says "probability of getting red is one fifth"
P(green) = 1/5
P(blue) = 1/5
P(yellow) = 1/5
P(purple) = 1/5

The reason the fractions are all the same is that there are equal numbers of each color.  For example, if there were 7 marbles of each color, there would be a total of 35 marbles.

P(red) = 7/35 = 1/5
Similar for the other colors.
6 0
3 years ago
Marisol buys 3 pounds of cheese and 3 pounds of sausage for a total cost of $36. The sausage costs $2.00 less per pound than the
Andreas93 [3]

Answer:

The answer is 1pound of cheese is 7$ and the sausage is 5$

Step-by-step explanation:

6 0
3 years ago
1. Find each measure.<br> a)<br> m20<br> 8<br> R<br> Select<br> 110"<br> S<br> 8<br> T<br> c)
Zepler [3.9K]

Answer:

pls write question correctly so I can answer it

7 0
2 years ago
Read 2 more answers
What is the area of the figure below?
stepan [7]
The answer is,
= 22.5 × 2
= 90 in. squared
6 0
3 years ago
Read 2 more answers
Consider randomly selecting a student at a large university, and let A be the event that the selected student has a Visa card an
poizon [28]

Answer:

We have that B = 0.3.

So

0.3 = b + (A \cap B)

However, b is a probability, which means that it cannot be negative. So no, P(A ∩ B) cannot be 0.5. It can, at most, be 0.3.

Step-by-step explanation:

Event A:

Probability that a student has a Visa card.

Event B:

Probability that the student has a MasterCard.

We have that:

A = a + (A \cap B)

In which a is the probability that a student has a Visa card but not a MasterCard and A \cap B is the probability that a student has both these cards.

By the same logic, we have that:

B = b + (A \cap B)

In this problem, we have that:

A = 0.6, B = 0.3

(a) Could it be the case that P(A ∩ B) = 0.5?

We have that B = 0.3.

So

0.3 = b + (A \cap B)

However, b is a probability, which means that it cannot be negative. So no, P(A ∩ B) cannot be 0.5. It can, at most, be 0.3.

8 0
3 years ago
Other questions:
  • Find the coordinates of the midpoint of the segment whose endpoints are given . e(4,-4) , f (1,7)
    14·1 answer
  • During second period, Jessica completed a grammar worksheet. She got 68 out of 68 questions correct. What percentage did Jessica
    11·1 answer
  • Find an angle between 0 and 2pi coterminal with 35pi/6
    5·1 answer
  • In his free time, Gary spends 11 hours per week on the Internet and 9 hours per week playing video games. If Gary has five hours
    15·1 answer
  • Use long division method to calculate 102 024 ÷ 156​
    5·1 answer
  • Please the question below 55
    11·1 answer
  • Help, please!
    8·1 answer
  • Got a question on my math quiz asking the questions below. The question marked me as wrong, but didn’t tell me what I got wrong/
    8·1 answer
  • Find slope for 3y=-4x+6 please help asap :)
    9·2 answers
  • HELPPPPPPPPPPPPPPPPPPPPPPPPPPPPP
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!