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Anastaziya [24]
3 years ago
15

How much would $500 invested at 6% interest compounded monthly be worth after 5 years? round your answer to the nearest cent.

Mathematics
2 answers:
Lady bird [3.3K]3 years ago
8 0
Use this formula: A = P(1 + r/n)^nt, where A is the amount after interest (what you are solving for), P is the amount you invested originally, r is the rate at which it was invested in decimal form, n is the number of times the compounding occurs each year, t is the time in years it is invested. It would look like this: A = 500(1 + [.06/12])^12*5.  Do inside the parenthesis first to get 1 + .005 = 1.005.  Now raise that to the 60th power (12 times 5 is 60) to get 1.34558. Now multiply that by the 500 out front to get a total amount of $674.43
GenaCL600 [577]3 years ago
5 0

Answer- $674.43


Step-by-step explanation:


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Answer:

y=x-32

Step-by-step explanation:

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(7,3) ---> 3=5(7)+b=35+b

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6 0
2 years ago
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a small town has about 8000. a random sample of 100 people finds out that 50 are in favor of renovating some of the towns rundow
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4000

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I hope this helps and please don't hesitate to ask if there is anything still unclear!

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2 years ago
Match each correlation coefficient with the type of association it indicates between the variables x and y.
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r = -1.0
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r = 0.1
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2 years ago
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7 0
3 years ago
Nic paid a total of $25.68 for a game including 7% tax want was the price before tax
Volgvan


x + 0.07x = 25.68

1.07 x = 25.68

x = 24

5 0
3 years ago
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