All categories

3 years ago

After 4 years, what is the total amount of a compound interest investment of $20,000 at 2% interest, compounded monthly?

Mathematics

1 answer:

KonstantinChe [14]3 years ago

3 0

A=P(1+r/n)n×t

A=20.000(1+0.02/1)1×4 A=20.000×1.024 A=20.000×1.082432 A=21.648.64 The answer is B

You might be interested in

Estimate 864/54 by first rounding each number so that it has only 1 nonzero digit.

KiRa [710]

Answer:

Step-by-step explanation:

6 0

2 years ago

Which measurements could NOTrepresent the side lengths of a right triangle?

Volgvan

Answer:

Step-by-step explanation:

3 0

3 years ago

Read 2 more answers

Type the correct answer in the box. Use numerals instead of words. If necessary, use / for the fraction bar. In the equation√n+5

Yuki888 [10]

Answer:

n = 59

Step-by-step explanation:

The given equation of n is $\sqrt{n + 5} - \sqrt{n - 10} = 1$ and we have to solve it for n.

$\sqrt{n + 5} - \sqrt{n - 10} = 1$ ........... (1)

⇒ $\frac{(n + 5) - (n - 10)}{\sqrt{n + 5} + \sqrt{n - 10}} = 1$

{Rationalizing the numerator}

⇒ $\sqrt{n + 5} + \sqrt{n - 10} = 15$ .............. (2)

Now, adding (1) and (2) we get

$2\sqrt{n + 5} = 16$

⇒ n + 5 = 64 {Squaring both sides}

⇒ n = 59 (Answer)

4 0

3 years ago

On March 17th, Pinny Sporting Goods accepted a credit card purchase for $900. The credit card company charges a 2% service fee.

Vera_Pavlovna [14]

Answer:

A : debit to Service Charge Expense of $18.

Step-by-step explanation:

First, one should calculate the value, in dollars of the credit card service fee

Fee = 2% x $900 = $18.

Since this fee is classified as "money coming out" of the account, the entry to a record of this transaction should include a debit to Service Charge Expense of $18.

The correct answer is alternative A.

*The whole purchase amount ($900) should be credited and the service expense should be debited, unlike alternative C, which merges both entries into one.

6 0

3 years ago

Laura takes very good care of her vehicles. She owns a blue van and a red truck. Although she bought them both new, she has owne

MrRissso [65]

The age of the van owned = 12 years

The age of the truck owned = 29 years

Step-by-step explanation:

Here, the given question is INCOMPLETE.

Laura takes very good care of her vehicles. She owns a blue van and a red truck. Although she bought them both new, she has owned the truck for 17 years longer than she has owned the van. If the sum of the ages of the vehicles is 41 years, how old is the van and how old is the truck?

Let us assume the number of years Laura has owned the van = S years

So, according to the question:

The number of years she has owned truck = S + 17 years

Now, Sum of the age of ( Truck + Van) = 41 years

⇒ (S + 17 years) + (S years) = 41 years

or, 2 S + 17 = 41

or, 2 S = 4 1 -1 7 = 24

or, S = 24/2 = 12 years

or, S = 12 years

Hence the age of the van owned = 12 years

The age of the truck owned = S + 17 = 12 + 17 = 29 years

6 0

3 years ago