Answer:
A
Step-by-step explanation:
1.065. The 5 is the nearest thousandth
Answer:
n = 16
Step-by-step explanation:
Answer:
10 feet
Step-by-step explanation:
You use the pythagorean theorem to find the missing side of a right triangle.
side^2 + side^2 = hypotenuse ^2
6^2 + 8^2 = X^2
36 + 64 = 100
square root of 100 = 10
Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.
Step-by-step explanation:
The given is,
Investment = $ 8000
No. of years = 15 years
Interest rate, i = 3.1 %
( compounded monthly )
Step:1
For for calculating future value with compound interest monthly,
.................(1)
Where,
A = Future amount
P = Initial investment
r = Rate of interest
n = Number of compounding in a year
t = Time period
Step:2
From given values,
P = $8000
r = 3.1%
t = 15 years
n = 12 ( for monthly)
Equation (1) becomes,





A = $ 12728.48
Result:
Dave will have $12,728 after 15 years, if he has $8000 to invest for 15 years. He finds a bank that offers an interest rate of 3.1% compounded monthly.