Help pls I have more
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The total interest accrued is $2,407.41 if you invested $7,000 into a money market account for 10 years at an annual interest rate of 3%.
<h3>What is invested amount?</h3>An investment is a payment made to acquire the securities of other firms with the intention of making a profit.
We are assuming the interest will be compounded annually
Where A = Final amount
P = Principal amount
r = annual rate of interest
n = how many times interest is compounded per year
t = How long the money is deposited or borrowed (in years)
We have:
P = $7000
r = 3% = 0.03
t = 10 years
n = 1
After calculating:
A = $9407.41
I = A - P = 9407.41 - 7000 = $2,407.41
Thus, the total interest accrued is $2,407.41 if you invested $7,000 into a money market account for 10 years at an annual interest rate of 3%.
Learn more about the invested amount here:
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The answer should be 4.
First, simplify
to 4. Your problem should look like: 4 x 1.
Second, multiply. 4 x 1 = 4 so that is your answer.
Also, to start the equation up, make sure to add in the numbers in replace for the letters. Your problem to start with should look like:
.
First, simplify
Second, multiply. 4 x 1 = 4 so that is your answer.
Also, to start the equation up, make sure to add in the numbers in replace for the letters. Your problem to start with should look like: