Bella wants to save for a vacation in three years and this vacation costs $2300. She deposits $2000 into a bank earning 5% inter
est compounded monthly. How much money does Bella have after 3 years?
1 answer:
Answer:
$2,323.2
Step-by-step explanation:
A = P(1 + r/n)^nt
Where,
A = future value = ?
P = present value = 2,000
r = interest rate = 5% = 0.05
n = number of periods = 12
t = time = 3 years
A = P(1 + r/n)^nt
= 2,000(1 + 0.05/12)^12*3
= 2,000( 1 + 0.00417)^36
= 2,000( 1.00417)^36
= 2,000(1.1616)
= 2,323.2
A = $2,323.2
You might be interested in
Answer:
<h2>-11y - 4.1x</h2>
Step-by-step explanation:

Answer:
hjgjhgjhghjg
Step-by-step explanation:
ghjjgjesw54t32r3yggtfucgkyoughrhhfgh
Answer:
D. 578pi
Step-by-step explanation:
Sorry if that's wrong
Answer:
using Pythagoras theorem
Step-by-step explanation:
it's option c
Answer: 35
Step-by-step explanation:
Angle ACD = 70
Angle BCD = 70/2 = 35