3 years ago

My guys got me I am giving brainliest

Mathematics

1 answer:

Mrrafil [7]3 years ago

5 0

Answer:

bottom right i did that 1 yesterday

Step-by-step explanation:

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Answer:

Equation: $F=1500(1.0025)^{12t}$

The balance after 5 years is: $1742.43

Step-by-step explanation:

This is a compound growth problem . THe formula is:

$F=P(1+\frac{r}{n})^{nt}$

Where

F is future amount

P is present amount

r is rate of interest, annually

n is the number of compounding per year

t is the time in years

Given:

P = 1500

r = 0.03

n = 12 (compounded monthly means 12 times a year)

The compound interest formula modelled by the variables is:

$F=1500(1+\frac{0.03}{12})^{12t}\\F=1500(1.0025)^{12t}$

Now, we want balance after 5 years, so t = 5, substituting, we get:

$F=1500(1.0025)^{12t}\\F=1500(1.0025)^{12*5}\\F=1500(1.0025)^{60}\\F=1742.43$

The balance after 5 years is: $1742.43

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Step-by-step explanation:

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