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
Komok [63]
2 years ago
13

If $5,000 is borrowed with an interest of 12.3% compounded semi-annually, what is the total amount of money needed to pay it bac

k in 3 years?
Round your answer to the nearest cent.

Do NOT round until you have calculated the final answer.
Mathematics
1 answer:
jarptica [38.1K]2 years ago
3 0

Answer:

$7153.03

Step-by-step explanation:

To find the total amount after 3 years, we can use the formula for compound tax:

P = Po * (1+r/n)^(t*n)

where P is the final value, Po is the inicial value, r is the rate, t is the amount of time and n depends on how the tax is compounded (in this case, it is semi-annually, so n = 2)

For our problem, we have that Po = 5000, r = 12.3% = 0.123, t = 3 years and n = 2, then we can calculate P:

P = 5000 * (1 + 0.123/2)^(3*2)

P = 5000 * (1 + 0.0615)^6

P = $7153.029

Rounding to the nearest cent, we have P = $7153.03

You might be interested in
Help.................................................
velikii [3]

Answer:

3 newtons to the left

Step-by-step explanation

since the arrows are pointing towards each other you have to subtract

5-2=3

Since five is the greatest number it will be pushing to the left

6 0
2 years ago
How. Many 5s is in 200989
olga_2 [115]

Answer:

40197 these many 5s make up 200985 so 4 are left to make 200989

Step-by-step explanation:

5 0
3 years ago
Read 2 more answers
Help plzz will mark brainleast
alex41 [277]

Answer:

rectangular prism

Step-by-step explanation:

maybeeee

sorry if it wrong :l

7 0
3 years ago
Ben and Arnoldo are sharing snacks. They have peanut treats and coconut treats. Ben ate 2 of the peanut treats and 4 of the coco
VladimirAG [237]

the answer is 21 it really not it just I have to do this for this app that won't give me these for answers

3 0
2 years ago
Plzzzzzzzzzzzzzzzzzzzzz answer!!!!!!!!!!!!!
GrogVix [38]

Answer:

This is quadratic trinomial

Step-by-step explanation:

It has x^2 (square) and consists of 3 parts

7 0
3 years ago
Other questions:
  • Use the net below.<br><br> 288cm<br> 312cm<br> 336cm<br> 368cm
    14·1 answer
  • Help ASAP and pls tell me how thanks
    6·1 answer
  • Find three positive numbers a, b and c such that 2 times a plus 14 times b plus 16 times c equals 176, and such that the product
    6·1 answer
  • Which equation has the same slope as y = 3x - 4?
    15·1 answer
  • 24/52 simplify fraction
    9·1 answer
  • Can someone help me please?
    14·1 answer
  • you have a bag of marbles. 5 marbles are blue, 4 marbles are red, and 2 marbles are yellow. What is the probability that you pul
    5·1 answer
  • HOW COULD MAKE 7 TO BECOME EVEN NO. WITHOUT FOUR FUNDAMENTAL PRINCIPLE
    11·2 answers
  • What is the measure of x to the nearest degree?<br> 8
    13·1 answer
  • Is SSS a triangle theorem?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!