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soldi70 [24.7K]
3 years ago
8

Lainey puts $600 into a GIC for 5 years. The GIC pays 6.2% interest, compounded monthly. How much interest has she earned after

5 years?
Mathematics
1 answer:
Luden [163]3 years ago
4 0

Answer:

FV= $819.03

Step-by-step explanation:

Giving the following information:

Initial investment= $600

Number of periods= 5*12= 60 months

Interest rate= 0.062/12= 0.0052

<u>To calculate the future value of the investment, we need to use the following formula:</u>

FV= PV*(1+i)^n

FV= 600*(1.0052^60)

FV= $819.03

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Step-by-step explanation:

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Step-by-step explanation:

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8 0
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the area of a triangular block is 64 sq in. if the base os the triangle is twice the height, how long are the base and the heigh
Nookie1986 [14]
------------------------------------------------------
Define x :
------------------------------------------------------
Let the height be x.
Height = x
Length = 2x

------------------------------------------------------
Solve for x:
------------------------------------------------------
Area of triangle = 1/2 x base x height
64 = 1/2 (x)(2x)
x² = 64
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------------------------------------------------------
Find the height and the length:
------------------------------------------------------
Height = x = 8 in
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---------------------------------------------------------------------------
Answer: The base is 16 in and the height is 8 in.
---------------------------------------------------------------------------
4 0
3 years ago
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