3 years ago

How to slove and the answer

Mathematics

1 answer:

Alenkinab [10]3 years ago

5 0

Just divide the percentage by the amount they are asking

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The price of XYZ stock fluctuates widely. In January it closed at $3.50 but In February it Closed at $2.25. However at the end o

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Answer:

$3.583

Step-by-step explanation:

Given the monthly stock prices :

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Step-by-step explanation:

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2 years ago

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Find the future value of 575 at 5.5% compounded quarterly for 5 years. Round to the nearest cent

Readme [11.4K]

Answer:

Future value = $755.61 ( to the nearest cent)

Step-by-step explanation:

The formula for calculating the future value of an invested amount compounded periodically for a number of years is given as:

$FV = PV (1+\frac{r}{n} )^{n*t}$

where:

FV = future value = ???

PV = present value = $575

r = interest rate in decimal = 5.5% = 0.055

n = number of compounding periods per year = quarterly = 4

t = time of investment = 5 years

∴ $FV = 575 (1+\frac{0.055}{4} )^{4*5}$

$FV = 575 (1+0.01375)^{20}\\FV = 575 (1.01375 )^{20}\\FV = 575 * 1.3141\\FV = 755.607$

∴ Future value = $755.61 ( to the nearest cent)

4 0

2 years ago