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BabaBlast [244]
3 years ago
12

Maya invested $5,000 in an account paying an interest rate of 3.9% compounded continuously. Assuming no deposits or withdrawals

are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach $6,880?
Mathematics
1 answer:
ElenaW [278]3 years ago
5 0

Answer: 8.2

Step-by-step explanation:

Delta Math Solution

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How much money would a person have 8 years after they invested $2,000 into an account that has an annual interest rate of 3% tha
madam [21]

The amount of money the person would have in 8 years s $2541.74.

<h3>How much would the person have in 8 years? </h3>

The formula for calculating future value is:

FV = P (1 + r)^nm]

Where:

FV = Future value
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  • R = interest rate = 3% / 12 = 0.25%
  • m = number of compounding = 12
  • N = number of years = 8 years

Value of the account in 8 years with monthly compounding = $2000(1.0025)^(12 x 8) = $2541.74

To learn more about future value, please check: brainly.com/question/18760477

4 0
2 years ago
It does not make since to me
Kamila [148]

Answer:

It is B

Step-by-step explanation:

4 0
3 years ago
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igor_vitrenko [27]

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Step-by-step explanation:

Domain is the x-values, least to greatest.

Range is the y-values, least to greatest.

6 0
2 years ago
There are about 6,600,000,000 people living in the world. the male to female ratio is 107 to 100. about how many males are there
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3,300,000,000 would be you answer so A.
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