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3 years ago

You deposit $5000 in an account earning 3% interest compounded monthly. How much will you have in the account in five years?

Mathematics

1 answer:

rusak2 [61]3 years ago

7 0

Answer:

$5808.08

Step-by-step explanation:

The formula for calculating future value:

FV = P (1 + r/m)^mn

FV = Future value

P = amount deposited = $5000

R = interest rate = 0.03

N = number of years = 5

m = number of compounding = 12

5000 x (1 + 0.03/12)^60 = $5,808.08

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ivann1987 [24]

A line parallel to your equation has the same slope, so it should be in the form:

y = (-3/2)x + b

To figure what "b" has to be, plug in the point (4,0) and solve:

0 = (-3/2)*4 + b

0 = -6 + b

6 = b

So the equation of the line is:

y = (-3/2)x + 6

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2 years ago

Read 2 more answers

If P = (-2,7), Find:<br> Ry-axis (P)<br> ([?], [])

kumpel [21]

Answer:

(2, 7)

Step-by-step explanation:

$R_{\text{y-axis}}(\text{P})$ represents the reflection of a point P about the y-axis.

If a point (x, y) is reflected across y-axis, rule for the reflection is,

(x, y) → (-x, y)

If a point (-2, 7) follows the same rule, coordinates of the image point will be,

P(-2, 7) → P'(2, 7)

Therefore, answer is (2, 7).

8 0

3 years ago

each month Kevin klog earns $1250 plus 0.8% of his sales last month his sales totaled $64,500. how much did Kevin earn?

Troyanec [42]

64, 500 x 0.8%=65,016.00. He automatically earns $1250.00 a month

add the 65, 016.00 + 1250.00 and the answer would be 66 266.00

4 0

3 years ago

What type of angles are< 1 and <5?

belka [17]

Answer:

The type of angles of <1 and <5 are corresponding angles

Step-by-step explanation:

3 0

2 years ago

Suppose that you believe that contractor 1 is twice as likely to win as contractor 3 and that contractor 2 is three times as lik

Ray Of Light [21]

Answer:

probability that contractor 1,2 and 3 win is 33%,50% and 17% respectively

Step-by-step explanation:

assuming that there are no other contractors then:

probability that 1 , 2 or 3 win = 1

denoting as X= probability that contractor 3 wins , then assuming that only one wins , we have

probability that 1 , 2 or 3 win = 1

probability that contractor 1 wins + probability that contractor 2 wins + probability that contractor 3 wins = 1

2*P(X) + 3*P(X) + P(X) = 1

6*P(X) = 1

P(X) =1/6

then

-probability that contractor 1 wins = 2/6 (33%)

-probability that contractor 3 wins = 3/6 (50%)

-probability that contractor 3 wins = 1/6 (17%)

3 0

2 years ago