The formula for calculating compound interest with yearly contributions is:
Balance = X*(1 + Y)^n + Z((1 + Y)^(n + 1) - (1 + Y)/Y)
where the balance is the money earned after n years invested
Y is the interest rate as a fraction
Z is the yearly contribution
X is the starting investment
Therefore the calculation for this example is:
Balance = 1200*(1 + 0.05)^48 + 1200((1.05)^49 - (1.05)/05)
= $249,393.5
Answer:
The kinetic energy of an object is given by: Kinetic energy = 1/2 * mass * velocity If the kinetic energy of the pendulum at the top of its swing is 0, then this tells us that the velocity of the pendulum at that point is 0
The interest alone is 96 dollars
SO in total with the principle that would be 896 dollars
Answer:
the answer is c
Step-by-step explanation:
