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Whitepunk [10]
3 years ago
11

Nancy has $4,111 in an account that pays 3.07% interest compounded monthly. What is her

Mathematics
1 answer:
soldier1979 [14.2K]3 years ago
3 0

Answer:

Ending balance after 2 years=$4,370.98

Step-by-step explanation:

To calculate her ending balance after two years, we need to get the express the total amount as follows;

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

where;

A=Total future value of the initial investment

P=Initial value of the investment

r=Annual interest rate

n=number times the interest rate is compounded annually

t=number of years of the investment

In our case;

P=$4,111

r=3.07%=3.07/100=0.0307

n=12

t=2 years

Replacing;

A=4,111(1+0.0307/12)^(12×2)

A=4,111(1.0026)^24

A=4,370.98

Ending balance after 2 years=$4,370.98

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Step-by-step explanation:

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2 years ago
To form 3 adjacent squares (as in the figure), 10 toothpicks are required. How many toothpicks are required to form 100 adjacent
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2 years ago
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3 0
2 years ago
Choose the two expressions that are equivalent to 6.5 ÷ 1.3.
kenny6666 [7]

Answer:

A & C

Step-by-step explanation:

To find the two expressions that are equivalent to 6.5 ÷ 1.3, you need to solve all of them until you get the two expressions that have a quotient of 5.

Let's begin solving!

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So now we know that A is one of our answers

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Not one of our answers because the quotient is not 5

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This is our other answer! We don't need to solve D because we only needed to find two expressions which are A and C.

Hope this helps you :)

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2 years ago
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