Answer:
A).Amount = $218250
B). Amount = $88700
Step-by-step explanation:
A) .$5000 in an account at age 23, and withdraw it 42 years
Number of years t= 42 years
Principal P = $5000
Rate r= 9%
Number of times compounded n= 42
A= p(1+r/n)^(nt)
A= 5000(1+0.09/42)^(42*42)
A= 5000(1+0.002143)^(1764)
A= 5000(1.002143)^1764
A= 5000(43.65)
A= 218250
Amount = $218250
B).waits 10 years before making the deposit, so that it stays in the account for only 32 years
Number of years t= 32 years
Principal P = $5000
Rate r= 9%
Number of times compounded n= 32
A= p(1+r/n)^(nt)
A= 5000(1+0.09/32)^(32*32)
A= A= 5000(1+0.0028125)^(1024)
A= 5000(1.0028125)^1024
A= 5000(17.74)
A= 88700
Amount = $88700
Answer:
copied from InesWalston expert
Money in the bank account after 3 years will be $329.18
Step-by-step explanation:
Jackie deposited $315 into a bank account that earned 1.5% simple interest each year for 3 year, while no money was deposited into or withdrawn from the account.
We know that,
i = p.r.t / 100
Where,
i = interest
P = Principal = $315
r = Rate of interest = 1.5% annual
t = time period = 3 years
Putting the values,
i = 315 × 1.5 × 3 / 100 = $14.18
Total money in bank account = Principal + interest = 315 + 14.18 = $329.18
Answer:
D is the right answer
Step-by-step explanation:
Answer:
Step-by-step explanation:
Given
Required
Determine the 7th term
The nth term of a gp is:
So, we have:
Answer:
theres no question lol
Step-by-step explanation:
