All categories

3 years ago

Tom deposited $2410 in a bank that pays 12% interest, compounded monthly. Find the amount he will have at the end of 3 years.

Mathematics

1 answer:

OLEGan [10]3 years ago

4 0

Answer:

Base amount: $2,410.00

Interest Rate: 12% (yearly)

Effective Annual Rate: 12.68%

Calculation period: 3 years

$3,448.15

Step-by-step explanation:

The generic formula used in this compound interest calculator is

V = P(1+r/n)^(nt)

V = the future value of the investment

P = the principal investment amount

r = the annual interest rate

n = the number of times that interest is compounded per year

t = the number of years the money is invested for

You might be interested in

9. State if these three measures

nataly862011 [7]

Answer:

yes

Step-by-step explanation:

7 0

3 years ago

agent bourne transferred classified files from the cia mainframe into his flash drive. the drive has 72 megabytes on it before t

Eduardwww [97]

Answer: The speed was 4.1 MB/sec.

We first find the amount that was transferred within the first 125 seconds:

549-36.5=512.5

Now we divide this by 125, the number of seconds:

512.5/125 = 4.1

The speed of the transfer is 4.1 megabytes per second.

It took 235 seconds for the drive to be completely filled.

Step-by-step explanation:

4 0

1 year ago

The portions of gold in three bracelets are shown. Which bracelet has the highest portion of gold?

KatRina [158]

Bracelet b
13/20 = 65%

5 0

3 years ago

Read 2 more answers

In △ABC, point M is the midpoint of AB , point D∈ AC so that AD:DC=2:5. If AABC=56 yd2, find ABMC, AAMD, and ACMD.

Komok [63]

Since point M is the midpoint of AB, then AM=MB.

Consider the area of the triangles ABC and BMC:

$A_{ABC}=\dfrac{1}{2}\cdot AB\cdot h_c=56\ yd^2,$

where $h_c$ is the height drawn from the vertex C to the side AB.

So, $AB\cdot h_c=112\ yd^2.$

Now

$A_{BMC}=\dfrac{1}{2}\cdot BM\cdot h_c=\dfrac{1}{2}\cdot \dfrac{AB}{2}\cdot h_c=\dfrac{1}{4}\cdot AB\cdot h_c=\dfrac{1}{4}\cdot 112=28\ yd^2.$

Also

$A_{AMC}=A_{ABC}-A_{BMC}=56-28=28\ yd^2.$

Now consider the area of the triangles AMD and CMD. Let $h_M$ be the height drawn from the point M to the side AC.

$A_{AMD}=\dfrac{1}{2}\cdot AD\cdot h_M=\dfrac{1}{2}\cdot \dfrac{2AC}{7}\cdot h_M=\dfrac{2}{7}\cdot \left(\dfrac{1}{2}\cdot AC\cdot h_M\right)=\dfrac{2}{7}\cdot A_{AMC}=\dfrac{2}{7}\cdot 28=8\ yd^2.$

Therefore,

$A_{MDC}=A_{AMC}-A_{AMD}=28-8=20\ yd^2.$

Answer: $A_{MBC}=28\ yd^2, A_{AMD}=8\ yd^2, A_{MDC}=20\ yd^2.$

5 0

3 years ago

Read 2 more answers

In a new york state daily lottery game, a sequence of four digits (not necessarily different) in the range 0-9 are selected at r

Anna [14]

<span>There are 10,000 (10*10*10*10) possible sequences. There are 4C3 ways, 4, of having exactly three digits be the same value. The differing digit can be any of the four positions. There are 10P2 ways, 90 (10*9), to choose the digits of the sequence since we have 10 choices for the digit to be repeated, then 9 more options or the differing digit. The product of the combination arrangements and permutation selection, 4*90, shows there are 360 sequences with three of the same digit. Thus the probability is 360/10,000 or 0.036 or 3.6%.</span>

8 0

3 years ago