Answer:
The balance after 37 years is $3869.99
Step-by-step explanation:
<u>Given:</u>
- Principal (P) = $2,520
- Rate of Interest (R) = 1.16%
- Time (t) = 37 years
- Compounds Interest Monthly (n) = 12
The Amount (A),
A = P (1 + ![\frac{R}{100n}](https://tex.z-dn.net/?f=%5Cfrac%7BR%7D%7B100n%7D)
<em> if compound n times per year</em>
Amount (A) at 37 years,
A = ($2,520) (1 + ![\frac{1.16}{100(12)}](https://tex.z-dn.net/?f=%5Cfrac%7B1.16%7D%7B100%2812%29%7D)
A = ($2,520) (1 + ![\frac{1.16}{1,200}](https://tex.z-dn.net/?f=%5Cfrac%7B1.16%7D%7B1%2C200%7D)
A = ($2,520) (1.00096667
A = ($2,520) (1.5357)
A = $3869.9944
Learn more about Compounds Interest here: brainly.com/question/12325365
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Answer:
-0.008 or -1/15
Step-by-step explanation:
Answer:
24 arrangements.
Step-by-step explanation:
ive done this before