Answer:
$8,240
Step-by-step explanation:
We are given that,
Principle amount in the savings account, P = $5,000.
Rate of interest, r = 5% = 0.05
Time period, t = 10
Also, the interest is compounded monthly, n = 12
As, we now that the value of the investment is given by 
Thus, we have,
Investment Value = 
i.e. Investment Value = 
i.e. Investment Value = 
i.e. Investment Value = 
i.e. Investment Value = $8,240
Hence, the investment amount after 10 years is $8,240.
Answer:
7 units
Step-by-step explanation:
-20 because 40 is a positive and spent is negative
Answer:
12,000
Step-by-step explanation:
Since 1/3 of 30,000 is 10,000, we are left with 20,000. 3/5th of 20,000 is 12,000.