The first five years you will have 9,720 the account earning at 8% will give you 12 dollars for every 150 a month. After five years the 9,720 without no additional deposits at the 8% monthly rate will give you 777.6 monthly at the end of the next twenty one years you will have a total of 2,645,395.2 dollars. your welcome!
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Answer:
- 10,247.38 from continuous compounding
- 10,228.50 from semiannual compounding
- continuous compounding earns more
Step-by-step explanation:
The formula for the account balance from continuously compounded interest at annual rate r for t years is ...
A = Pe^(rt) . . . . P = principal invested
A = 8820e^(0.05·3) ≈ 10,247.38 . . . continuous compounding
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The formula for the account balance from interest compounded semiannually at annual rate r for t years is ...
A = P(1 +r/2)^(2t)
A = 8820(1 +.05/2)^(2·3) ≈ 10,228.50 . . . semiannual compounding
Continuous compounding earns more.
Answer:
3x³ - 2x² is trinomial because highest degree of this polynomial is 3.
C - He should go to a bank and apply for a personal loan with reasonable terms.........I am not really sure
Answer:
2
Step-by-step explanation:
