What would you have to invest today at 5% interest compounded monthly if you wish to have $20,000 in 10 years?

1 answer:

8 0

Simple intrest:-
Intrest(20000)=(Investment(Unknown so lets say Y)xPercent(5%)xtime(10))/100
=
20000=(Yx5%x10)/100 =
5/100x10=
0.5Y/100x100=20000x100/0.5 Y=4000000

You might be interested in

Can people answer this pls

Leto [7]

Answer:

Step-by-step explanation:

4 0

3 years ago

Read 2 more answers

Samantha has 7/3 cups of ice cream to make milk shake.Each shake uses 1/8 cup of ice cream. How many milk shakes can she make?

Travka [436]

18 milkshakes
Hope this helps

7 0

3 years ago

ROD

liberstina [14]

Answer:

"x" (and any subsequent words) was ignored because we limit queries to 32 words.

6 0

2 years ago

If n=3 then what is (4n-2) (7-2)

babymother [125]

The value of equation when n = 3 is 50

Solution:

Given equation is:

$(4n -2)(7-2)$

We have to find the value of equation when n = 3

By plugging in n = 3 in given equation we can find the value of given equation

Substitute n = 3 in given equation

$\rightarrow (4(3) -2)(7-2)\\\\Solve\ the\ above\ equation\\\\\rightarrow (12-2)(7-2)\\\\\rightarrow (12 - 2)(5)\\\\Simplify\ the\ above\ equation\\\\\rightarrow 10 \times 5 = 50$

Thus the value of equation when n = 3 is 50

7 0

3 years ago

Mai owes the bank $60. She gets $35 for her

fiasKO [112]

Answer:

-25

Step-by-step explanation:

Whenever you owe something, you are in debt. Before she deposited 35 dollars her bank account had $-60.

-60+35=-25

6 0

3 years ago