Ask question

Ask question

All categories

3 years ago

7

Matthew is going to invest in an account paying an interest rate of 5.5% compounded monthly. How much would Matthew need to inve

st, to the nearest ten dollars, for the value of the account to reach $221,000 in 17 years?

1 answer:

atroni [7]3 years ago

6 0

Answer:

P=86950

Step-by-step explanation:

A=P(1+r/n)^nt

Compound interest formula

A=221000

t=17

r=0.055

n=12

You might be interested in

What is the product of (2x2 + 4x-2) and 3x+6)?

Setler79 [48]

Answer:

${24x}^{2} + 42x - 12$

8 0

3 years ago

Tina has 5 yards of fabric. She is making scarves that each require 1/3 of a yard of fabric. How many scarves can she make?

larisa [96]

Answer:

15 scarves

Step-by-step explanation:

CROSS MULTIPLICATION METHOD

5 YARDS = x

⅓ YARDS = 1 scarves

⅓x = 5

x = 5×3

x = 15

4 0

2 years ago

I have 30 ones, 2 thousands, 4 hundred thousands,60 tens and 100 hundreds. What number am I?

Pepsi [2]

Answer
The number is 412630

6 0

3 years ago

Antonio drops a glass marble into a pond and creates ripples that form concentric circles on the surface of the water. The radiu

photoshop1234 [79]

Answer:

is it multiple answer?

Step-by-step explanation:

8 0

3 years ago

Simply the expression.

irina1246 [14]

The answer is ctually 44
68-2 (3x1)4
68-2x3x4
68-24
44

4 0

3 years ago