Dan invests £1200 into his bank account. He receives 5% per year compound interest. How much will dan have after5 years?

Mathematics

1 answer:

solmaris [256]3 years ago

7 0

Answer:

Dan will have $1,531.53 after 5 years.

Step-by-step explanation:

To find the answer, you can use the following formula to calculate the future value:

F= P(1 + r)^t

F= Future value

P= Present value= 1200

r= rate of interest= 5%

t= time= 5

F=1200(1+0.05)^5

A=1200(1.05)^5

A=1531.53

According to this, the answer is that Dan will have $1,531.53 after 5 years.

You might be interested in

Add 78, 139, and 14, and then divide by 44.

denpristay [2]

Answer:

5.24, 21/4, or 5 and 1/4

Step-by-step explanation:

78+139+14 = 231

231/44 = 5.25

Or 21/4 (improper fraction)

Or 5 and 1/4 (mixed number)

I'm not exactly sure what you were asking I hope that helps!

8 0

3 years ago

The value of a certain car, in dollars, x years from its model year can be predicted by the function f(x)=12,000(0.89)x . The va

scZoUnD [109]

An exponential decay function is:

f=ir^t, f=final amount, i=initial amount, r=common ratio, t=number of times ratio is applied...We can see the initial value is 17000 so all we really have to find is the common ratio, or "rate" as some call it :P If we look at the second point, when t=1 we can see:

14280=17000r

r=357/425

r=0.84

So in five years the SUV will be worth more than the car by:

17000(0.84^5)-12000(0.89^5)

$408.73 (to the nearest cent)

5 0

3 years ago

Read 2 more answers

Does the table represent a function?(Only 2 hours to answer!)

alisha [4.7K]

Answer: (a) Yes. The table is a function.

<u>Step-by-step explanation:</u>

In order to be a function, there cannot be any duplicate x-values.

In the given table, each x-value is different so this IS a function.

6 0

3 years ago

Which of the following best describes how the y values are changing over each interval? x y 1 20 2 40 3 80 4 160 5 320 They are