Answer:
$8,240
Step-by-step explanation:
We are given that,
Principle amount in the savings account, P = $5,000.
Rate of interest, r = 5% = 0.05
Time period, t = 10
Also, the interest is compounded monthly, n = 12
As, we now that the value of the investment is given by 
Thus, we have,
Investment Value = 
i.e. Investment Value = 
i.e. Investment Value = 
i.e. Investment Value = 
i.e. Investment Value = $8,240
Hence, the investment amount after 10 years is $8,240.
Answer:
Step-by-step explanation:
I've already answered this question.
Answer:
Step-by-step explanation:
I=PRT/100
40=(500XRX2)/100
R=(40X100)/500X2
R=4000/1000
R=4 percent/annum
Answer:
A 3SIDED shape
Step-by-step explanation:
If it’s 5 times you would multiply 8000 x 5 which is 40,000.