Austin invested $11,000 in an account paying an interest rate of 5.7% compounded quarterly. Assuming no deposits or withdrawals
are made, how much money, to the nearest dollar, would be in the account after 6 years?
2 answers:
Answer:
15448
Explanation:
A=11000(1.01425)^{24}
A=11000(1.01425)
24
Answer:
15448
Explanation:
Compounded Quarterly:
A=P\left(1+\frac{r}{n}\right)^{nt}
A=P(1+
n
r
)
nt
Compound interest formula
P=11000\hspace{35px}r=0.057\hspace{35px}t=6\hspace{35px}n=4
P=11000r=0.057t=6n=4
Given values
A=11000\left(1+\frac{0.057}{4}\right)^{4(6)}
A=11000(1+
4
0.057
)
4(6)
Plug in values
A=11000(1.01425)^{24}
A=11000(1.01425)
24
Simplify
A=15448.0290759
A=15448.0290759
Use calculator
You might be interested in
Lol what???? i don’t understand
Good luck with solving this
Answer:
E = 1.50 × 
V/m
Explanation:
given data
B = 0.50 T
solution
we know that energy density by the magnetic field is express as
...............1
and
energy density due to electric filed is
...............2
and here 
so that
E = 
...................3
put here value and we get
E = 3 × × 0.50
E = 1.50 × V/m
Answer:
5
Explanation:
Number of habitable planets = 1000
Fraction of planet with life = 1/10
Fraction of planet with life and civilization (before) = 1/4
Fraction of planet with life and civilization (now) =1/5
Therefore multiplying we have:
1000×1/10×1/4×1/5 = 5
