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shusha [124]
3 years ago
14

How much will $5000 be worth in 5 years if it is compounded continuously at 3% interest?

Mathematics
2 answers:
Murljashka [212]3 years ago
8 0

Answer:

$5,796.37

Step-by-step explanation:

You are going to want to use the compound interest formula, which is shown below.

P(1+\frac{r}{n} )^{nt}

<em>P = initial balance </em>

<em>r = interest rate </em>

<em>n = number of times compounded annually </em>

<em>t = time </em>

<em />

Now lets plug in the values into the equation:

5,000(1+\frac{0.03}{1})^5 = 5,796.37

Your answer is $5,796.37

Finger [1]3 years ago
5 0
$5,796 is how much it would be. hope it helps
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Answer:

( 0 < y < 23 / 6 ) mins

Step-by-step explanation:

Solution:-

We will define a variable ( x ) as the time it took for Jo Anne to give her speech at home.

The time taken to give her speech must always be less than 4 minutes. We can express this mathematically using an inequality as follows:

                              ( 0 < x < 4 ) minutes

Jo Anne gave her speech which was 10 seconds less than the one she practised at home. We will convert the time in seconds to minutes as follows:

                             10 s * \frac{min}{60 s}  = \frac{1}{6} min

The time taken by Jo Anne to complete her speech in English class can be represented as:

                             y = x - 1/6

Using the range of time that Jo Anne could take in delivering her speech in the class would be:

                                    0 < x < 4

                            0 - 1/6 < y < 4 - 1/6

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Since time can not be less than zero. We correct the lower limit to " 0 " as follows:

                              ( 0 < y < 23 / 6 ) mins

   

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4 years ago
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Answer:

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