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
rosijanka [135]
2 years ago
7

Robin, who is self-employed, contributes $4500/year into a Keogh account. How much will he have in the account after 30 years if

the account earns interest at the rate of 2.5%/year compounded yearly?
Mathematics
1 answer:
pashok25 [27]2 years ago
4 0

Answer:

The amount that would be in the account after 30 years is $368,353

Step-by-step explanation:

Here, we want to calculate the amount that will be present in the account after 30 years if the interest is compounded yearly

We proceed to use the formula below;

A = [P(1 + r)^t-1]/r

From the question;

P is the amount deposited yearly which is $4,500

r is the interest rate = 2.5% = 2.5/100 = 0.025

t is the number of years which is 30

Substituting these values into the equation, we have;

A = [4500(1 + 0.025)^30-1]/0.025

A = [4500(1.025)^29]/0.025

A = 368,353.3309607034

To the nearest whole dollars, this is;

$368,353

You might be interested in
HELP!
Ber [7]
A)
8^2+9^2=c^264+81=c^2
c^2=145c=sqrt 145c=12.04
B)
Pythagerean Theorum: 
A^2+B^2=C^2, where C is the hypotenuse and A and B are the other legs 
15^2=9^2+B^2 
225=81+B^2 
225-81=B^2 
144=B^2 (square root both sides) 
12=B
5 0
3 years ago
Welp its me again you know the drill ig
valentina_108 [34]

Answer:

its c

Step-by-step explanation:

7 0
3 years ago
Read 2 more answers
A ball is dropped from a height of 180 meters. The height of the ball can be represented by
Alex Ar [27]
I think it is C but it also could be B as well
6 0
3 years ago
Find the probability of choosing a penny or a dime from 4 pennies 3 nickeles and 6 dimes
bezimeni [28]

Answer:

5.0/5

Step-by-step explanation:

4 0
3 years ago
Read 2 more answers
Find atleast 5 numbers between 1/2 and 1/3.
borishaifa [10]

Answer:

12.2 12.3 12.4 12.5

Step-by-step explanation:

8 0
3 years ago
Other questions:
  • Find the seventh term of each sequence <br> 1, -3, 9, -27.....
    13·1 answer
  • Which one the answer?
    7·1 answer
  • What is 9a+2b+14-7a+5b+4
    8·1 answer
  • How do you round the answers to 1 decimal for:
    13·1 answer
  • PLZZZ HELP ME OUT THIS IS DUE TODAY!!!!
    14·2 answers
  • 2/3b+5=20-b<br> can someone help me out plz because i keep getting this wrong
    11·1 answer
  • Find the area of the figure
    14·1 answer
  • Ashley's Internet service is terribly unreliable. In fact, on any given day, there is a 15% chance that her Internet connection
    5·1 answer
  • Solve using matrix inverse method 3x 2y 3x-2y+3z=8 , 2x+ y - z = 1, 4x-3y + 2z =4
    15·1 answer
  • What type of angle is
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!