1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
xxTIMURxx [149]
3 years ago
15

You deposit $1000 in an account that pays 4 1/2% annual interest compounded monthly. How much will you have in the bank after 9

years
Mathematics
2 answers:
Wittaler [7]3 years ago
6 0

Answer:

Step-by-step explanation:

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

A = ?

I = $1000

r = 4.5% = 4.5/100 = 0.045

n = 12

t = 9

A = 1000(1+0.045/12)^108

A = 1000(1.00375)^108

A = $1498.17

Ierofanga [76]3 years ago
4 0

Answer:

1498.17

Step-by-step explanation:

formula A = P(1 + \frac{r}{100}  )^{n} where r is the rate of interest compounded and n is the number of times compounded.

r = 4.5 / 12 = 0.375 since it is compounded monthly thus need to divide by 12 months

n = 9 x 12 = 108 ( 9 years in months)

A = 1000(1 + \frac{0.375}{100})^{108} = 1498.167

You might be interested in
5-6n=2n+5 <br>Solve for n
olganol [36]
<span>5-6n=2n+5 , 5 cancels out
-6n -2n = 0
-8n = 0
   n =0</span>
7 0
3 years ago
Read 2 more answers
Erica wants to know how many books on average are in school libraries in her county. She randomly calls 50 school libraries in h
Rus_ich [418]
<span>valid. She used a representative sample
</span>because she correctly found the average and 18,000 is a reasonable number to get for a the problem
5 0
3 years ago
Read 2 more answers
What has a one dimensional and have infinite length
lina2011 [118]
A line. It goes in both directions forever
3 0
3 years ago
Can someone please help me check my answers ***Mark Brainliest***
lozanna [386]
I believe the answer for 17 is C.  18 I am not sure how to do.  For 19, however, the answer is B.  Hope I help, and sorry I can't answer 18.
3 0
3 years ago
What is the square root of 89 rounded to the nearest hundredth?
NeTakaya
The square root of 89 routhe neasrest hundreth is 9.43
4 0
3 years ago
Other questions:
  • Cheyenne needs to cut a piece of paper so that she has exactly 1/3 of it. If the length of the paper is 11 inches, how long will
    13·2 answers
  • Denise is designing the seating arrangement for a concert an outdoor theater. To give everyone a good view, each row must have 6
    11·1 answer
  • A cold front changes the temperature by -3 F each day. If the temperature started at 0 F, what will the temperature be after 5 d
    12·1 answer
  • HELP ME PLEAS EI NEED THIS IMMEDAITEL
    10·2 answers
  • A company manufactures aluminum mailboxes in the shape of a box with a half-cylinder top. The company will make 1960 mailboxes t
    8·1 answer
  • The angles of o triangle are in<br>the ratio2: 3: 5<br> Find all the angle in grade<br>​
    6·1 answer
  • What is the equation?
    14·1 answer
  • Which line represents a direct variation function?<br><br> line A<br> line B<br> line C<br> line D
    5·2 answers
  • What is one and a half pounds expressed as a decimal
    15·1 answer
  • How many days are in 52 weeks?
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!