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Rzqust [24]
3 years ago
13

I need helpppppppppppp

Mathematics
1 answer:
finlep [7]3 years ago
8 0
36 will be the answer for x
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How much would $200 invested at 5% interest compounded monthly be worth after 9years? Round your answer to the nearest cent
Feliz [49]

Answer:

$311.20

Step-by-step explanation:

Here we are required to use the Compound interest formula for finding the Amount at the end of 9th year

The formula is given as

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

Where ,

A is the final amount

P is the initial amount = $200

r is the rate of interest = 5% annual = 0.05

n is the frequency of compounding in a year ( Here it is compounding monthly) = 12

t is the time period = 9

Now we substitute all these values in the formula and solve for A

A=200(1+\frac{0.05}{12})^{9\times 12}

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A=200(1.00416)^{108}

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Hence the amount after 9 years will be $311.20

4 0
3 years ago
Is 8/10 equivalent to 4/5
nordsb [41]
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