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
scoundrel [369]
4 years ago
8

Kyler isn't getting any younger! He decides it's time to start saving for his future and deposits $225 each month at 6.2% annual

interest for 25 years. At the end of 25 years, he has an account balance of $160,811.43. How much of this did Kyler contribute and how much of this is interest?
Social Studies
1 answer:
yanalaym [24]4 years ago
7 0

Answer:

The best answer to the question: How much if this did Kyler contribute and how much of this is interest, would be: 93.311.43 would be the total amount accrued by Kyler at the end of the 25 years of saving if the annual compound rate is maintained at 6.2%, and the rest would be the net savings done by Kyler if he maintains the rate of savings at 225 per month for all of the 25 years.

Explanation:

The good thing about savings on an account with compound interest rate is that at the end of the saving period, the total amount gained will be much larger than without it. This compound interest rate is simply the extra money that a person may get for literally investing his/her money in this case on a bank account that offers that rate of interest every year. Give or take a bit from taxes, at the end of the day, Kyler got a lot more money from just compound annual interest, than from his own hand.

You might be interested in
How many members are there in the house of represtanatives
Sidana [21]

there are 435 members are in the house of representatives. Hope that helps!

6 0
3 years ago
How can fossil record be used as evidence for the moving of tectonic plates
trapecia [35]
By the time


Hhgbgbffvfhrgdh
8 0
4 years ago
What is a constitution to the government
Nookie1986 [14]

A Constitution is the framework of the government. It essentially creates the government and lays out how it is structured.

3 0
3 years ago
Asked to describe their county, most Devonians will mention the great city of Exeter, the ports of Dartmouth, Plymouth, and Barn
Cloud [144]

Answer:

third person

Explanation:

just took the quiz

7 0
3 years ago
Read 2 more answers
Which two professions were created as a result of the development of cuneiform in Mesopotamia?
Alexxx [7]

Answer:

Correct answers are scribe and bureaucrat.

Explanation:

Scribes were very rare in the Mesopotamian society simply because there weren't many educated people, and that is why this profession was highly respected. Bureaucrats also were a minority in the society and because they were bringing the important decisions, it was important for them to be literate.

Shepherd were illiterate and uneducated, but this didn't affect their profession, as they didn't needed it.  Priests existed even before the cuneiform was created. Blacksmith had a similar position as shepherds in a sense that were not literate and were not obliged to be.

6 0
3 years ago
Read 2 more answers
Other questions:
  • I can't do this and I'm tired please help meee
    5·1 answer
  • Which of the following groups benefitted the least from the prosperity of the second industrial revolution? a.farmers b.railroad
    10·1 answer
  • Epic Electronics recently launched a program to evaluate the relative levels of skills, education, and training needed to perfor
    5·2 answers
  • Jonathan is afraid to ask a girl for a date, so his therapist instructs him to relax and simply imagine he is reaching for his c
    9·1 answer
  • News accounts that focus on the trials and tribulations of the human condition are called citizen journalism, which often featur
    6·1 answer
  • Which two words in the passage are academic words? largest. estimated. exceeds.
    11·1 answer
  • Which statements accurately describe Count Camillo de Cavour? Check all that apply.
    13·2 answers
  • What is one of the main ways that cutizens can participate in a democratic government
    11·1 answer
  • The principle that restricts the absolute power of government and guarantees individual rights is
    7·1 answer
  • When adolescents experience emotional turmoil, conflict within the family, alienation from adult society, reckless behavior, and
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!