3 years ago

What is 1036.50 rounded the the nearest whole number?

Mathematics

1 answer:

Pavel [41]3 years ago

4 0

1037 is the whole number estimate

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Sophia puts $250 in the bank with a 2.5% annual interest rate compounded monthly. If Sophia does not touch his money, how much m

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Answer:

Step-by-step explanation:

Deposited amount initially (P) = $250.

Rate of interest(r) = 2.5% compounded monthly = 0.025

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Number of months in an year (n) = 12.

Formula for compound interest:

$A=P(1+\frac{r}{n})^{nt}$ .

Plugging values in formula, we get

$A= 250(1+\frac{0.025}{12})^{12\times 4}$

$A= 250(1.00208)^{48}$

$A= 250\times \:1.10506$

A=276.26.

<h3>Therefore, correct option is D) $276.26.</h3>

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