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
Snowcat [4.5K]
3 years ago
15

When his daughter alisa was born mike began saving for her wedding. He wanted to have saved about 30,000 by the end of 20 years

how much would mike deposit into an account that yields 3% interest compounded annually in order to have that amount?
Mathematics
1 answer:
Gennadij [26K]3 years ago
4 0

Answer:

\$16,610.27

Step-by-step explanation:

we know that    

The compound interest formula is equal to  

A=P(1+\frac{r}{n})^{nt}  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

t=20\ years\\A=\$30,000\\ r=0.03\\n=1  

substitute in the formula above

30,000=P(1+\frac{0.03}{1})^{1*20}  

30,000=P(1.03)^{20}  

P=30,000/(1.03)^{20}

P=\$16,610.27

You might be interested in
13 + (4 + 10) = 27 the numbers and the parentheses to create an equivalent addition sentence that illustrates the associative pr
rewona [7]
This isn't a question....
4 0
3 years ago
[-4 + n - 2n x 2n] + [ 2 - 5n - 6n x 6n]​
Kamila [148]

Answer:

- 2 - 4n - 8n²  

Step-by-step explanation:

thats ur anser

3 0
3 years ago
The equation of the line graphed below could be which of the following?<br><br> Please help ASAP
igor_vitrenko [27]

Answer:

4.

Step-by-step explanation:

First, you have to decide whether the slope is negative or positive. Since the line is going diagonally upward, it is positive.

That means the answer has to be either 3 or 4.

Next, you have to decide whether the y-intercept is negative or positive, on the graph, you can see that it is positive.

Answer choice 4 is the only equation where both the slope and the y-intercept are positive, so it is the answer.

8 0
3 years ago
You need to cut a 9 foot piece of plywood into 12 inch sections. Every cut also removes 1/8 inch. How many 12 inch sections can
dimaraw [331]
You can get 9 because in one foot there is 12 inches and there in 9 feet 
6 0
3 years ago
City x has a population of 3x10 to the fifth power. City y has a population of 6x10 to the sixth power. Which statement correctl
SVEN [57.7K]

Answer:

c

Step-by-step explanation:

because it is 3x10 to the 5th power there woould be 5 zeros

5 0
3 years ago
Other questions:
  • HELP ME WITH MY LAST QUESTION PLEASE I FORGOT HOW TO FIND INTERVALS
    12·2 answers
  • Hulk left home and walked 8 blocks west. Then he turned and walked 6 blocks north. If each block is 500 ft. long, how far is Hul
    11·1 answer
  • What is a quadratic function?
    9·1 answer
  • The probability of choosing a green marble from a bag is 3/5.
    15·1 answer
  • Jordan hiked to the top of a mountain. He started the hike at 8:30 A.M. It took 2 hours and 15 minutes to get to the top of the
    13·1 answer
  • Estimate the sum of 672 and 830 by rounding to the nearest hundred before adding.
    9·2 answers
  • 14+(-2) SHOW WORK PLEASE HURRY
    13·2 answers
  • Simplify the radical and use the imaginary unit i.
    8·1 answer
  • In the diagram of the unit circle what is tan theta
    12·1 answer
  • What is 4(.5x + 2.5 - .7x + 4) simplfied
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!