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4 years ago

A total of $12,000 is invested at an annual interest rate of 9%. Find the balance

Mathematics

1 answer:

sineoko [7]4 years ago

6 0

Answer:

$18,726.11

Step-by-step explanation:

Lets use the compound interest formula provided to solve this:

$A=P(1+\frac{r}{n} )^{nt}$

P = initial balance

r = interest rate (decimal)

n = number of times compounded annually

t = time

First lets change 9% into a decimal:

9% -> $\frac{9}{100}$ -> 0.09

Since the interest is compounded quarterly, we will use 4 for n. Lets plug in the values now:

$A=12,000(1+\frac{0.09}{4})^{4(5)}$

$A=18,726.11$

The balance after 5 years is $18,726.11

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3 years ago

Jessica received a 90$ gift card for a coffee store. She used it in buying some coffee that cost 8.58per pound. After buying the

irga5000 [103]

Answer:

5 pounds / Make sure to read the explanation so you know how to solve it

Step-by-step explanation:

First thing to do is:

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Hope I helped :]

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3 years ago

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Luba_88 [7]

Answer:

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Also you can do it in this another way:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

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3 years ago

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I hope this helps you

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