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Ne4ueva [31]
3 years ago
5

What’s the answer for this question?

Mathematics
1 answer:
V125BC [204]3 years ago
4 0
Letter D


Because I know
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You deposit $400 each month into an account earning 8% interest compounded monthly. Round to the nearest cent as needed. a) How
Debora [2.8K]

If I deposit $400 each month into an account earning 8% interest compounded monthly, I will have $6,517 in my account in 35 years. The total money that I will put into the account is $168,000. I will earn a total compound interest of $6,117.

  • Calculating the Sum of Money in 35 years

Given information is as follows,

Principal, P = $400

Rate = 8%

Time, T = 35 years

n = 12 (Compounded monthly)

The amount for compound interest is given as,

A = P\frac{(1+\frac{R}{n} )^{nT} -1}{R/n}

A = 400\frac{(1+\frac{0.08}{12} )^{12.35} -1}{0.08/12}

A = 6,517.02

A = $6,517 (to the nearest cents)

  • Calculating the Amount Put in Account

Since, $400 is deposited every month for 35 years,

Amount Put in 35 years for this compound interest =$400 × 12 × 35

= $168,000

  • Calculating the Compound Interest

A = P + CI

Thus, the compound interest is given by,

CI = A - P

CI = 6517 - 400

CI = $6,117

I will earn a total interest of $6,117

Learn more about compound interest here:

brainly.com/question/14295570

#SPJ1

7 0
1 year ago
Words to know
Volgvan

Answer: Switch a with c and you are good. I think that is what you are asking?

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
What number is halfway between 13 and 31
ankoles [38]

To find the answer to that, you have to see how many numbers are between 13 and 31. There are 18 numbers between 13 and 31. Divide 18 by 2 and you will get the number halfway. 9 is halfway between 13 and 31. So, add 9 to 13 and you get 22.

The answer is 22.

Hope I helped

4 0
3 years ago
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I need help with number seven please
Flura [38]
3/8 ÷ 3/4
4/8 = 1/2
the sloth moves 1/2 a foot per minute
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3 years ago
What percent of the medium T-shirts are black? Round to the nearest percent.
Art [367]
The answer would be about 23% I hope this helps
3 0
3 years ago
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