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
rodikova [14]
3 years ago
15

How much will $1000 deposited in an account earning 7% interest compounded annually be worth in 20 years? (which formula do I us

e? I am confused...txs)
Mathematics
1 answer:
Xelga [282]3 years ago
5 0

Answer:

$3870

Step-by-step explanation:

Hello, the initial deposit is $1000.

After one year, we will get 1000 + 7%*1000= 1000 * ( 1+7%) = 1000 * (1+0.07)

= 1000 * 1.07

And we want to compound it so the second year we will get

1000 * 1.07 * 1.07 = 1000 * 1.07^2

And after n years, we will get

1000 * 1.07^n

In that example, we want to know how much we will get after 20 years, so this is:

1000 * 1.07^{20}=3869.684462...

Thank you.

You might be interested in
Nadia's father bought a new camera,lens, and case. He rounded the cost of all the items to estimate how much money he would need
valentina_108 [34]
Doesn't it say the answer in that question...
It is asking for the actual cost of the item and it said $1,489
for his set.

6 0
3 years ago
Read 2 more answers
Write the slope-interest form of the equation that passes through (-2,6) with a slope of 3/2
iVinArrow [24]

Answer:

y = 3/2x+6

Step-by-step explanation:

3 0
3 years ago
Read 2 more answers
14. Jabari has read 13 chapters of a 22-chapter book.<br> What percent of the chapters has she read?
Doss [256]

Jabari has read 59.09 percent of the chapters.

What is a percent?

A percentage is a figure or ratios that is stated as a portion of 100 in arithmetic. Although the abbreviations "pct.", "pct.", and frequently "pc" are also employed the percent symbol is most frequently used to indicate it. A percentage is a number without dimensions. It lacks a measuring system. The Latin phrase per centum, which states "hundred" or "by the hundred," is where the word "percent" originates. The Italian phrase percento, which means "for a hundred," gradually sqeezed to become the symbol for "percent." Per became frequently shortened to "p" and finally vanished completely. Two circles and a horizontal line made up the "cento," which is where the present "%" sign is from.

Jabari read 13 chapters out of 22

In percents = 13/22 x 100 percent

                    = 59.09 percent

To know more about percents, click on the link

brainly.com/question/1053881

#SPJ9

4 0
1 year ago
Marco can swim at a speed of 45 m/min. to find how long it will take him to swim 200 m he solves the equation 45 times T equals
zaharov [31]

Answer:

T represents the amount of time it will take him to travel 200 meters if he swims at 45 meters per minute.

Step-by-step explanation:

4 0
3 years ago
A contractor needs 54 square feet of brick to construct a rectangular walkway. The length of the walkway is 15 feet more than th
professor190 [17]
54-14 it’s pretty easy
3 0
2 years ago
Other questions:
  • Suppose that the growth rate of children looks like a straight line if the height of a child is observed at the ages of 24​ mo
    12·1 answer
  • A) 12 ft<br> b) 21 ft<br> c) 63 ft<br> d) 81 ft
    14·1 answer
  • You invest $75/ quarter at a rate of 4.00% APR compounded monthly for 30 years.
    11·1 answer
  • Need answers!! Will give 20 pts. !!
    12·1 answer
  • Factor : 2b^2 + 13b - 7<br><br>Please help !!! :)
    12·1 answer
  • It is 90 ft between the bases of baseball diamond. A catcher throws a baseball to the shortstop who is half-way between second a
    8·1 answer
  • Find the measure of
    5·1 answer
  • The midpoint of AB = need help?
    5·1 answer
  • HELLO AND HELP ASAP PLZ HELP
    7·1 answer
  • Put all the order possibilities for these.
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!