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
taurus [48]
3 years ago
8

Doris put $4000 in a 2-year CD paying 6% interest, compounded monthly. After 2 years,she withdrew all her money. What was the am

ount of the withdrawl?
Mathematics
2 answers:
erastova [34]3 years ago
8 0
A=4,000×(1+0.06÷12)^(12×2)
A=4,508.64
Zanzabum3 years ago
5 0

Answer:

The amount of the withdrawal after 2 years will be $ 4508.64

Step-by-step explanation:

Given : Doris put $ 4000 in a 2-year CD paying 6% interest, compounded monthly.          

We have to find the amount of the withdrawal.

Since given the principal amount is $ 4000 for 2 years  and

Rate is 6% = 0.06  

Since, interest is calculated compounded monthly

so monthly interest rate is \frac{6}{1200}

Using Formula for compound interest

A=P(1+r)^n

Where A is amount

r is interest rate

n is time period

Substitute, we have,

A=4000\left(1+\frac{6}{1200}\right)^{\left(12\cdot2\right)}

Simplify, we have ,

A = 4508.64

Thus, The amount of the withdrawal after 2 years will be $ 4508.64

You might be interested in
The net of a triangular prism is shown
masha68 [24]
Nope its B if you plug in
3 0
3 years ago
HELP PLEASE I DONT KNOW WHAT TO DO
Marat540 [252]

Answer:

5, -10, 10

Step-by-step explanation:

a “step“ can’t be negative so we can say that we move twice to left 5 spaces

a positive number multiplied by a negative number gives as result a negative number. In this case -10

the opposite of a number is the same number in absolute value with a opposite sign. In this case 10

4 0
3 years ago
Miley’s Music has a sale on music CDs. All music CDs are discounted 15%. Mariana’s receipt CDs purchase. What is the full price
vampirchik [111]
20 because she multiply 5 times 3 form her discont
7 0
3 years ago
Read 2 more answers
URGENT: If Marla, who budgeted $65 for food per day on her business trip, is gone on a business trip for 2 weeks, what is her to
Luda [366]

Answer:

A.910

Step-by-step explanation:

65 per day times 2 weeks (14 days) 65 x 14 = 910

8 0
3 years ago
Read 2 more answers
LOTS OF POINTS!
icang [17]
<span>Let us first find a ratio between the quantity of work done by Darnell and Julius. If Darnell does one part of the work, Julius does two parts of the work. That is, their work quantity ratio is 1:2. (Total 3 parts) In other words when Darnell does 1/3 of the work, Julius does 2/3 of the work. When they work together, the work is completed in 4 hours. 4 hours work is the combined output of 1/3 by Darnell and 2/3 by Julius. If Julius was not there, Darnell would have to work for more than 4 hours. We already know that Darnell does only 1/3 of a work during any given time. If the given time is 4 hours, how many one-thirds will Darnell require? To find the answer, divide the given number (4 hours in this case) by the given fraction( 1/3 in this case) To divide a number by a fraction, multiply the number by the reciprocal of the fraction. Thus it becomes 4 divided by 1/3 = 4 x 3/1 = 12. (Another hint: At the rate of 1/3 of a work in one hour, Darnell will needs 3 hours to complete the given task. If the given work is 4 hours long, Darnell will take 4 x 3 hours, that is 12 hours.)</span>
6 0
3 years ago
Other questions:
  • Benton has an extension ladder than can only be used at a length of 10 feet, 15 feet, or 20 feet. He places the base of the ladd
    7·1 answer
  • The equation below describes a parabola. If a is positive, which way does the parabola open? x = ay2
    11·1 answer
  • Tweleve cows produce 224,988 pounds of milk. find the unit rate in rotations per second.
    6·1 answer
  • PLEASE HELP WILL MAKE BRAINLIEST
    8·1 answer
  • Which counterexample proves this statement is FALSE?
    6·1 answer
  • You want to decorate your wording studio with famous record album covers. The rectangular region you want to decorate measures 7
    6·1 answer
  • Gary found 72 shells and 40 coins at the beach. He wants to give them to some of his friends. Each friend will receive the same
    6·1 answer
  • I need help i dont understand it. its due in literally 2 hrs.
    5·1 answer
  • In a certain state's lottery, 40 balls numbered 1 through 40 are placed in a machine and 7 of them are drawn at random. If the 7
    12·1 answer
  • Deon throws a ball into the air. The height h of the ball, in meters, at time t seconds is modeled by the function
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!