4 years ago

Mario invested $5100 at 13%

Mathematics

1 answer:

cestrela7 [59]4 years ago

6 0

Answer:

Amount = $6614 and 19 cent

Step-by-step explanation:

Formula for compound interest is

A= p(1+r/n)^(nt)

Compounded daily

So n= 365*2= 730

T= 2

r= 0.13

P= 5100

A= p(1+r/n)^(nt)

A= 5100(1+0.13/730)^(730*2)

A= 5100(1+1.78082*10^-4)^(1460)

A= 5100(1.000178082)^1460

A= 5100(1.2969)

A= 6614.19

Amount = $6614 and 19 cent

You might be interested in

What is the distance between the two points shown?

Mamont248 [21]

Answer:

Step-by-step explanation:

(3,-2) (-1,2)

d= {(-1-3)+(2+2)}^2

or, d= {-4+4)}^2

or, d= 0

check if it's correct.

7 0

3 years ago

Read 2 more answers

Graph a circle with General form.x^2 +y^2+8x-12y+24=0

Lina20 [59]

Answer:

jhshejwjabsgsgshshsnsjs

6 0

3 years ago

Read 2 more answers

A group of 400 town residents is asked to attend a town hall meeting. Of the 400 residents asked to attend 36 were able to atten

zzz [600]

We have to find the percentage ratio of two numbers. It is $\frac{36}{400}*100 = 9%$ . And the correct answer is D).

Alternatively, by setting up a ratio, we can write that If
400_____100%
36_____x
And x=9%

5 0

4 years ago

I need help on this

Kazeer [188]

Answer:maybe 0.75

Step-by-step explanation:

8 0

3 years ago

Greta takes out a loan of $35,000 the rate of compound interest is 2% per month after 6 months she wants to pay off the loan and

zimovet [89]

To solve this problem, we must use the Time Value of Money equation.

Future Value = Present Value * (1 + interest rate per month)^number of months

F = 35,000 * (1.02)^6 = 39,415.68

A. She will have to pay $39,415.68 altogether.

To find payment in interest, we must subtract the initial loan of $35,000 from $39,415.68

39,415.68 - 35,000 = 4,415.68

B. She will have to pay $4,415.68 in interest.

4 0

3 years ago