Approximately how much money would Manny have if he invested $1,200 at an interest rate
1 answer:
Answer:
$1,701.64
Step-by-step explanation:
(see attached for reference)
recall that for compound interest, the following formula applies:
A = P [1 + (r/n) ] ^ (nt), where
A = final amount (we are asked to find this)
P = Principal amount = $1,200
r = interest rate = 5% = 0.05
t = 7 years
n = 12
Substituting these into the equation,
A = 1200 [1 + (0.05/12) ] ^ [(12)(7)]
A = $1,701.64
You might be interested in
The solution to the above factorization problem is given as f′(x)=4x³−3x²−10x−1. See steps below.
<h3>What are the steps to the above answer?</h3>Step 1 - Take the derivative of both sides
f′(x)=d/dx(x^4−x^3−5x^2−x−6)
Step 2 - Use differentiation rule d/dx(f(x)±g(x))=d/dx(f(x))±d/dx(g(x))
f′(x)=d/dx(x4)−d/dx(x^3)−d/dx(5x^2)−d/dx(x)−d/dx(6)
f′(x)=4x^3−d/dx(x3)−d/dx(5x^2)−d/dx(x)−d/dx(6)
f′(x)=4x^3−3x2−d/dx(5x^2)−d/dx(x)−d/dx(6)
f′(x)=4x^3−3x^2−10x−d/dx(x)−d/dx(6)
f′(x)=4x^3−3x^2−10x−1−dxd(6)
f′(x)=4x^3−3x^2−10x−1−0
Learn more about factorization:
brainly.com/question/25829061
#SPJ1
