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
GalinKa [24]
3 years ago
6

An initial investment of $100,000 at 12% interest is compounded weekly (use 52 weeks in a year). What will the investment be wor

th in 30 years? An initial investment of $100,000 at 12% interest is compounded weekly (use 52 weeks in a year). What will the investment be worth in 30 years?
Round your answer to the nearest dollar. Do not include the dollar sign in your answer.
Mathematics
1 answer:
ozzi3 years ago
8 0

Answer:

$3644675.9

Step-by-step explanation:

The initial investment is $100000. The interest rate is 12%.  

We are asked to determine the final amount the investment will become after 30 years if the interest is compounded weekly.

The weekly interest rate is \frac{12}{52} = 0.231%.

Assuming 1 year equivalent to 52 weeks.

Hence, using the formula of compound interest the final sum will be  

100000(1 + \frac{0.231}{100} )^{(30 \times 52)}

= $3644675.9 (Approximate)

You might be interested in
Need help with math homework who can help ?
Softa [21]
What's the problem ?
7 0
3 years ago
The ratio of boys to girls at the movie is 4:7. If there are 21 girls l, how many boys are at the movie?
Gelneren [198K]
There are 12 boys 21/7=3 so 4(3)= 12 
You are welcome
7 0
3 years ago
I need to "find the Indicated values" of each problem and I am very confused.
kotegsom [21]

sorry i dunno i really dont i just need to finish my test lol

5 0
4 years ago
Joanna is paid $14 per hour is it linear
Dafna1 [17]
Well me myself and I would say yes!!!
8 0
3 years ago
If a chord of a circle is 6 and is twice as far from the center chord of length 12, how long is the radius of the circle?
Ad libitum [116K]

Answer and explanation:

A center chord in a circle is the diameter of that circle. Therefore a center chord of a circle is different from other chords that touch two points on the circle but not in the center of the circle. A diameter of a circle is the chord that runs the length of the center of the circle touching two points at the edge of the circle. A diameter is twice the radius of the circle. So if the diameter of the circle is 12cm then the radius of the circle is 6cm

5 0
3 years ago
Other questions:
  • Draw a graph of 2x - 3y = 6​
    10·1 answer
  • Find the surface area of the cylinder 6cm 6cm <br> Give your answer in terms of pi
    12·2 answers
  • If g(x) = 4(x - 2)2 - 4, complete the following statements.
    6·2 answers
  • Which sentence is punctuated correctly
    10·2 answers
  • Which expression represents “6 more than x”? A. x−6
    14·2 answers
  • Yvette is starting a jewelry business. She spends $120 on supplies and makes 18 necklaces. She wants to earn a profit equal to 3
    8·1 answer
  • Express the product (2x-1)(3x+4) as a trinomial
    7·2 answers
  • What is the function? F(x)=2x^2-3x+1
    13·2 answers
  • Which term of the Ap: 9,8,13,18.......is 79?<br><br>Please don't post invalid answer..!!​
    7·1 answer
  • Can someone explain why everytime it rounds up to the thousands it doesnt keep the 4th number, it looks like it goes up by one,
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!