1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Jobisdone [24]
2 years ago
13

The required time is 3 years.

Mathematics
1 answer:
AVprozaik [17]2 years ago
8 0

Answer:

Step-by-step explanation:

<h2><em>For 4%</em></h2>

<em>A = $56,363.59 </em>

<em> </em>

<em>A = P + I where </em>

<em>P (principal) = $50,000.00 </em>

<em>I (interest) = $6,363.59</em>

<h2><em>calculation step</em></h2>

<em>First, convert R as a percent to r as a decimal </em>

<em>r = R/100 </em>

<em>r = 4/100 </em>

<em>r = 0.04 rate per year, </em>

<em> </em>

<em>Then solve the equation for A </em>

<em>A = P(1 + r/n)nt </em>

<em>A = 50,000.00(1 + 0.04/12)(12)(3) </em>

<em>A = 50,000.00(1 + 0.003333333)(36) </em>

<em>A = $56,363.59 </em>

<em> </em>

<em>Summary: </em>

<em>The total amount accrued, principal plus interest, with compound interest on a principal of $50,000.00 at a rate of 4% per year compounded 12 times per year over 3 years is $56,363.59. </em>

<h2><em>for 5 %</em></h2>

<em> </em>

A = $58,073.61

A = P + I where

P (principal) = $50,000.00

I (interest) = $8,073.61

<h2>calculation step</h2>

First, convert R as a percent to r as a decimal

r = R/100

r = 5/100

r = 0.05 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 50,000.00(1 + 0.05/12)(12)(3)

A = 50,000.00(1 + 0.004166667)(36)

A = $58,073.61

Summary:

The total amount accrued, principal plus interest, with compound interest on a principal of $50,000.00 at a rate of 5% per year compounded 12 times per year over 3 years is $58,073.61.

<h2>For 6 %</h2>

A = $59,834.03

A = P + I where

P (principal) = $50,000.00

I (interest) = $9,834.03

<h2>calculation step </h2>

First, convert R as a percent to r as a decimal

r = R/100

r = 6/100

r = 0.06 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 50,000.00(1 + 0.06/12)(12)(3)

A = 50,000.00(1 + 0.005)(36)

A = $59,834.03

<h2 />

Summary:

The total amount accrued, principal plus interest, with compound interest on a principal of $50,000.00 at a rate of 6% per year compounded 12 times per year over 3 years is $59,834.03.

You might be interested in
Determine the rate of change of the following coordinates
OleMash [197]

Answer:

-4

Step-by-step explanation:

 

4 0
3 years ago
What is the variable of x?
bogdanovich [222]
The variable for x is twenty eight
3 0
3 years ago
What is the image point of (-1,1) after a translation left 2 units and<br> down 2 units?
AveGali [126]

Answer:

The new point is (-3,-1)

Step-by-step explanation:

yessir

3 0
3 years ago
The product of two rational numbers is -25/18. If one of the numbers is -3/7, find the other
MissTica
Hello,

-3/7*x=-25/18
==>x=-25/18*(-7/3)
==>x=175/54


5 0
3 years ago
Abigail drew 12 hearts and 28 circles. What is the ratio of circles to hearts
Ne4ueva [31]
28 : 12
or in reduced form
7 : 3
6 0
3 years ago
Other questions:
  • Please Help...........
    15·1 answer
  • Aviva and emilio purchased their home for $288,846. the home has increased in value by 30% since the year of purchase. given the
    14·2 answers
  • Julie is cutting out triangle pieces for her scrapbook. The sides the triangle are 3 centimeters by 4 centimeters by 2 centimete
    14·1 answer
  • Can anyone help me with math? Please wait till you see three pictures before answeringgg!!
    11·1 answer
  • X varies directly with y. if y = -57 when x = 9, find x when y = 27.
    10·1 answer
  • Please answer all or what you can do &lt;3
    6·2 answers
  • What’s the difference between point A (3,4) and B (-1,4) on a coordinate plane?
    6·1 answer
  • Eunice buys dog bed with a listed price of $31. Eunice uses a sale that provides 30% off. What is the total
    5·1 answer
  • У прямокутнику АВСD кут АСВ =53*.Знайдіть більший кут між діагоналями
    9·1 answer
  • Please help me answer Number 8. Needed ASAP for school. Will give Brainliest
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!