2 years ago

Yes invests $1500 that compounds interest monthly with a 4.5% rate. How much money will he have after the 12 years?

Mathematics

1 answer:

Soloha48 [4]2 years ago

3 0

Answer:

FV= $2,571.41

Step-by-step explanation:

Giving the following information:

Initial investment (PV)= $1,500

Interest rate (i)= 0.045/12= 0.00375

Number of periods (n)= 12*12= 144 months

<u>To calculate the future value, we need to use the following formula:</u>

FV= PV*(1 + i)^n

FV= 1,500*(1.00375^144)

FV= $2,571.41

You might be interested in

A little boy stands on a carousel and rotates around the road four times. The distance between the little boy and the center of

marysya [2.9K]

150.72

...............

5 0

3 years ago

What number must you add to complete the square? x2 + 14x = -5

denis-greek [22]

U take half of the x term and square it....then add to both sides

14/2 = 7.......7^2 = 49...so u add 49 to both sides

6 0

3 years ago

Read 2 more answers

Are ac and be congruent explain?

anzhelika [568]

AC is a line with length of 7 units, from -7 to 0

BE is a line with length of 6 units, from 0 to 6

Two shapes are congruent if their length are the same, hence AC and BE is not congruent

4 0

3 years ago

I GIVE YOU CHALLENGE TO ANSWER THIS Question PLEASE HELP ME!!!!!!!!!Janet works at a jewelry store weighing different stones and

Vikki [24]

Answer:

Is it E?

Umm This is tricky

4 0

2 years ago

Find the equation of the straight line which passes through each of the following pairs of points.

Tems11 [23]

Answer:

y = 3x + 1

Step-by-step explanation:

First, find slope:

$y2 - y1 / x2 - x1$

$10 - 4/ 3 - 1 = 6 / 2 = 3$

Then, put the equation into point-slope form using the point (1, 4):

$y - y1 = m(x - x1)$

where m is the slope

y - 4 = 3(x - 1)

If you want to put this into slope-intercept form, it would be

$y-4=3(x-1)\\y - 4 = 3x - 3\\y = 3x + 1$

4 0

2 years ago