The amount that will be in the account after 30 years is $188,921.57.
<h3>How much would be in the account after 30 years?</h3>
When an amount is compounded annually, it means that once a year, the amount invested and the interest already accrued increases in value. Compound interest leads to a higher value of deposit when compared with simple interest, where only the amount deposited increases in value once a year.
The formula that can be used to determine the future value of the deposit in 30 years is : annuity factor x yearly deposit
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- r = interest rate
- n = number of years
$2000 x [{(1.07^30) - 1} / 0.07] = $188,921.57
To learn more about calculating the future value of an annuity, please check: brainly.com/question/24108530
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Answer:
Slope: -7
y-intercept: (0,2)
Step-by-step explanation:
Answer: Derrick wants an air conditioner in his living room. It is a rectangular room that measures 13 feet by 15 feet. The room is well insulated and is on the east side of the house. It has an 8-foot-high ceiling. How large of an air conditioner would this room require? Round to the nearest thousand BTUs, hope this helped :)
Step-by-step explanation:
Answer:
B. 2x - 5 = 2y + 14
General Formulas and Concepts:
<u>Algebra I</u>
Slope-Intercept Form: y = mx + b
Step-by-step explanation:
From the choices given, we know the equation must have a <em>y</em> in front of the equal sign. The only answer choice that does not fit this is B.
Therefore, that is our answer.
Answer:
$184
Step-by-step explanation:
I looked at an APR calculator
