1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Arte-miy333 [17]
3 years ago
6

Micah invests $5,280 in an account that earns 4.2% interest, compounded monthly.

Mathematics
1 answer:
Olin [163]3 years ago
8 0

Answer:

Hence By End of the year with monthly compounded interest it will have 5522.56 $

Step-by-step explanation:

Given:

Initial investment =5.280 $

Rate of interest =4.2%

To Find:

Amount after the 1 year

Solution:

As the investment follows the rule for compound interest as ,

A=P(1+R)^t

Here A=amount after t years

R= rate of interest , P= principal amount   t is time period

So given is monthly compounded interest

so t will divided into 12 parts as there 12 months in one year.

P=5280 $ , R=4.2/12 %  , t=12

A=5280(1+0.045/12)^(12)

A=5280(1.00375)^12

A=5280(1.046)

A=5522.56 $

You might be interested in
HELP! WILL GIVE BRANLIEST!
avanturin [10]

Answer: 5           Hope this helped-

7 0
3 years ago
What is the answer to these questions??<br> Plz number them 1-5.<br> This is pt 1.
charle [14.2K]

Answer:

1. Julio's Number is 25.

2. X= -5

3. X=2

4. X= -10

5. X=4

5 0
3 years ago
Melanie is 2 years older than twice her brother Bill’s age. If Bill is 5 years old,how old is Melanie
arlik [135]

she would be 12 because

10 * 2 = 10

10 + 2 = 12

hope this helps :)

8 0
3 years ago
Read 2 more answers
Its easy please ill give brainiest dont guess
valentina_108 [34]

Answer:

I don't know

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
How can I solve this? I need help its for geometry
Scilla [17]
What is the question
4 0
3 years ago
Other questions:
  • Did I do this correctly? If not what’s the answer?
    10·2 answers
  • To fit in an existing frame, the length, x, of a piece of glass must be longer than 12 cm but not longer than 12.2 cm. Which ine
    11·2 answers
  • Find the value of y for a given value of x, if y varies directly with x
    14·1 answer
  • What is a horizontal intercept on a graph
    5·2 answers
  • What is the radius of a circle with a circumference of 125.66
    9·2 answers
  • If your truck gets 22 highway miles per gallon and has a 25 gallon gas tank, how many miles should you be able to drive on a ful
    14·2 answers
  • Please Help me<br> What is the answer
    8·1 answer
  • Please help!!!!!!!!!!!!!!!
    6·1 answer
  • What is the period of the graph of y = 5cos(6x – 1) + 3?<br> O A.
    14·1 answer
  • Kelly went to a store to purchase a coffee pot. She will use a coupon for 20% off. She can calculate the cost before sales tax u
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!