Based on the information that's given, the account balance after the years given will be $27654.20.
The formula for simple interest is calculated as:
= PRT / 100
where,
Principal = $22825
Rate = 4.03%
Time = 5 years, 3 months = 5.25 years
Therefore, the simple interest will be:
= ($22825 × 4.03 × 5.25) / 100
= $4829.20
Therefore, the amount will be:
= $22825 + $4829.20
= $27654.20
Learn more about simple interest on:
brainly.com/question/25747402
Answer:
20 years
Step-by-step explanation:
<u>Continuous Compounding Formula</u>
where:
- A = Final amount
- P = Principal amount
- e = Euler's number (constant)
- r = annual interest rate (in decimal form)
- t = time (in years)
Given:
- A = $10,000
- P = $5,000
- r = 3.5% = 0.035
Substitute the given values into the formula and solve for t:
Therefore, it will take 20 years (to the nearest year) for the initial investment to double.
Answer:
10017
Step-by-step explanation:
10^(4)-\sqrt(121)+3^(3)+4^(0)
So, 3^3= 27
4^0=1
10^4=10,000
-square 121= -11
So now you got:
10,000-11+27+1
=10017
Answer:
Yes
Step-by-step explanation:
12 + 3(20) = 72
12 + 60 = 72