How much would $200 invested at 4% interest compounded monthly be worth after 8 years? Round your answer to the nearest cent.

2 answers:

7 0

Your formula is wrong
it should be
$A=P(1+ \frac{r}{n})^{nt}$
A=future amount
P=present amount
r=rate in decimal
n=number of times per year compounded
t=time in years

given
P=200
R=0.04
N=12 (12 months in 1 year)
t=8

$A=200(1+ \frac{0.04}{12})^{(12)(8)}$
$A=200(1+ 0.003333333)^{96}$
$A=200(1.003333333)^{96}$
A=275.279
round
275.28

D is answer

saul85 [17]3 years ago

6 0

Answer:Apex answer - $275.28

Step-by-step explanation:

You might be interested in

What is The midpoint of AB=(1,

BigorU [14]

The midpoint of AB is point G

<h2>Explanation:</h2>

The complete question has been attached below. As you can see, we have a line segment which is defined as a part of a line that is bounded by two different points that are at the end of the segment. So here we know that:

A is located at point -6.
B is located at point 8

Therefore, the midpoint can be calculated as:

$M:midpoint \\ \\ \\ M=\frac{A+B}{2} \\ \\ M=\frac{-6+8}{2} \\ \\ M=1$

So the midpoint is $M=1$ that matches point G. Finally:

Conclusion: The midpoint of AB is point G

Learn more:

Midpoint: brainly.com/question/13773601

#LearnWihBrainly

7 0

3 years ago

Please help me answer this using systems of equations with elimination.

Triss [41]

-5x+13y=-7
5x+4y=24
add the equation to eliminate x:
13y+4y=-7+24
17y=17
solve for y:
17/17y=17/17
y=1
then plug in y into any equation to solve for x:
-5x+13y=-7, y=1
-5x+(13*1)=-7
-5x+13-13=-7-13
-5x=-20
-5/-5x=-20/-5
x=4
the answers are x=4, y=1

3 0

3 years ago

How many times longer is one inch<br> than one foot

umka2103 [35]

Well, I am not exactly sure if this is what your asking but one foot is twelve times the size of a foot.

8 0

4 years ago

Read 2 more answers

The real numbers $x$ and $y$ are such that \begin{align*} x + y &= 4, \\ x^2 + y^2 &= 22, \\ x^4 &= y^4 - 176 \sqrt{

tamaranim1 [39]

You get everything you need from factoring the last expression:

$x^4-y^4=-176\sqrt7$