The question states the interest is compounded annually. We have to use the given formula for this.

Principal Amount = P = $500
Interest Rate = r = 6% = 0.06
Time in years = t = 12
Compounding periods in a year = n = 1

Using the values in the given formula we get:

$A(t)=500(1+ \frac{0.06}{1})^{12*1} \\ \\ 
A(t)=$1006.10$

Thus, rounding to nearest cent the answer to this question is 1006.10

However, if you are also interested in finding the compound interest that is compounded continuously, use the following formula:

$A(t)=Pe^{rt}$

7 0

3 years ago

The fifth highest mountain is Makalu, its height, rounded to the nearest hundred, is. 27,800 feet. What is the highest that this

erik [133]

We know that

 the highest that this mountain can be is 27849 feet

because this number (27849 feet) rounded to the nearest hundred is 27800 feet, however if the number were 27850 the number rounded to the nearest hundred would be 27900

hence

the answer is
27849 feet

4 0

3 years ago