3 years ago

True or false. If false write the correct statement

Mathematics

1 answer:

nirvana33 [79]3 years ago

4 0

It is very much true

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Find the amount accumulated if $50000 is invested for 20 years at a rate of 7% compunded daily?

pickupchik [31]

So to find this we need to use the compound interest formula which is A=P(1 + r/n) ^nt
P = principal amount
R = percentage rate
N = number of times it is compounded yearly
T = time

So you plug in the numbers for the formula

50,000(1 + 0.07/ 365) ^0.07*365

The answer would be $202,732.78
I hope this helps :)

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3 years ago

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Answer:

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Multiply both denominators and numerators together, which creates the new fraction.

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