Answer: The amount is $14794.39 and the interest is $9794.39
Step-by-step explanation: If you deposit <em><u>$5000</u></em><u> </u>into an account paying <em><u>7.5%</u></em> annual interest compounded yearly , how much money will be in the account after <em><u>15 years</u></em>?
To find amount we use formula:
A-P(1+r/n) n*t
A = total amount
P = principal or amount of money deposited,
r = annual interest rate
n = number of times compounded per year
t = time in years
P=$5000, r=7.5, n=1 and, t=15 years
After plugging the given information we have
A= $5000 (1+0.075/1)^1.15
A= 5000 *1.075^15
A=14794.39
To find interest we use formula A=P+I'
since A= 14794.39 and P=5000
we have: A=P+I 14794.39=5000+I
I= 14794.39 -5000
I=9794.39
Answer:
c
Step-by-step explanation:
Multiplying 49 by 1/7 in the inverse operation of dividing it by 7, so they will both get the correct answer.
Answer:
The new apartment you are about to sign a one-year lease on is $1,500 per month. The lease
requires you to put up first month's rent and a $750 security deposit to move in. In addition,
The answer should be $ 19.25. All you have to do is $7.70 * 2.5 which = $19.25
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