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3 years ago

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5. You deposit $10,000 in an account that pays 6.92% annual interest. Find the balance after 5 years if the interest is compound

ed with the given frequency.
a. Monthly

b. Daily
c. Quarterly
d. Weekly

1 answer:

RoseWind [281]3 years ago

7 0

C . Quarterly !

Since you paid off more than half of the annual interest

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Wanda opened a savings account 20 years ago with a deposit of $3,150.37. The account has an interest rate of 4.1% compounded dai

Aleksandr [31]

$\bf ~~~~~~ \stackrel{daily}{\textit{Continuously Compounding Interest Earned Amount}}\\\\
A=Pe^{rt}\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& \$3150.37\\
r=rate\to 4.1\%\to \frac{4.1}{100}\to &0.041\\
t=years\to &20
\end{cases}
\\\\\\
A=3150.37e^{0.041\cdot 20}\implies A=3150.37e^{0.82}\implies A\approx 7152.91457$

how much interest is there? well, A - 3150.37.

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2 years ago

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Answer:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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