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
gladu [14]
3 years ago
13

Suppose you invest $130 a month for 5 years into an account earning 8% compounded monthly. After 5 years, you leave the money, w

ithout making additional deposits, in the account for another 25 years. How much will you have in the end?
Mathematics
1 answer:
Zina [86]3 years ago
5 0

Answer:

FV= $70,887.15

Step-by-step explanation:

<u>First, we need to calculate the future value of the $130 deposit for 5 years:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit= $130

i= 0.08/12= 0.0067

n= 5*12= 60 months

FV= {130*[(1.0067^60) - 1]} / 0.0067

FV= $9,561.96

<u>Now, using the following formula, the future value of the investment after 25 years:</u>

<u />

FV= PV*(1 + i)^n

n= 25*12= 300

FV= 9,561.96*(1.0067^300)

FV= $70,887.15

You might be interested in
A bag contains nine red balls, four green balls, and fifteen yellow balls. What is the probability of
dmitriy555 [2]

Answer:

8

Step-by-step explanation:

When you subtract the 9-1=8

6 0
3 years ago
Can someone please answer i will mark brainliest
Dmitrij [34]
A) 2007
b) 120
c) the donations are decreasing as years increase
7 0
3 years ago
Read 2 more answers
Given f(x) = 5x + 3, find f(5)
Neko [114]

Answer:

Hey there!

f(x)=5x+3

f(5)=5(5)+3

f(5)=25+3

f(5)=28

Let me know if this helps :)

5 0
3 years ago
Read 2 more answers
Callie spins the spinner and rolls the number cube. What is the probability that she spins a five and rolls a six.The spinner ha
almond37 [142]

Answer:

1/48

Step-by-step explanation:

This is a case of joint probability, and the desired result is the product of P(spins a 5) and P(rolls a 6):  (1/8)(1/6) = 1/48.

3 0
3 years ago
Help rn please im failing hard
azamat

Answer:

a = -40/3

Step-by-step explanation:

(7a - 4) = (4a - 44)

7a - 4 = 4a - 44

7a = 4a - 44 + 4

7a = 4a - 40

7a - 4a = - 40

3a = - 40

3a/3 = -40/3

a = -40/3 or -13.3333 repeating

6 0
2 years ago
Other questions:
  • Fill in the blanks
    13·2 answers
  • Curiously, during months when sales of beer are above average, sales of ice cream also tend to be above average; during months w
    15·1 answer
  • How do you find the area of this composite figure?
    13·1 answer
  • What is the critical path and minimum prep time in order to host a party?
    11·1 answer
  • Plz help I really need it 15 points
    12·2 answers
  • 20 pts Divisible or not divisible
    13·2 answers
  • In the art room there are a total of 42 paintbrushes. 30 are large and the rest are small. What is the ratio of small paintbrush
    13·1 answer
  • Please answer these questions quick thank you!
    11·1 answer
  • The coordinates of the midpoint of GH are M(-2, 0), and the coordinates of one endpoint are H(4,-4).
    6·1 answer
  • What is the maximum value for y in the following function?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!