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umka21 [38]
3 years ago
13

You deposit $200 each month into an account earning 3% interest compounded monthly.

Mathematics
1 answer:
pochemuha3 years ago
6 0

Answer:

here you can do it and other problems you have https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator

Step-by-step explanation:

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Sung Lee invests $5,000 at age 18. He hopes the investment will be worth $20,000 when he turns 25. If the interest compounds con
Temka [501]

Answer:

19.8%

Step-by-step explanation:

We have the following formula for continuous compound interest:

A = P * e ^ (i * t)

Where:

A is the final value

P is the initial investment

i is the interest rate in decimal

t is time.

The time can be calculated as follows:

25 - 18 = 7

That is, the time corresponds to 7 years. In addition, A is 20,000 for A and P would be 5,000, we replace:

20000 = 5000 * e ^ (7 * i)

20000/5000 = e ^ (7 * i)

e ^ (7 * i) = 4

ln e ^ (7 * i) = ln 4

7 * i = ln 4

i = (ln 4) / 7

i = 0.198

Which means that the rounded percentage will be 19.8% per year

3 0
3 years ago
Kyle made a down payment of $850 towards his car loan. He will be paying $415 every month for 24 months. How Much does the car c
iren [92.7K]
$10,810. 
415*24+850. :) glad I could help
5 0
3 years ago
Read 2 more answers
¿Cual es el mínimo común múltiplo de 20 14 y 17?<br> Gracias <br> ♥ ♥
Scorpion4ik [409]

El mínimo común múltiplo de 20 14 y 17 es <u>1</u>.

17 es un número primo, y su únicos múltiplos son 17 y 1.

8 0
3 years ago
you have a part time job. you work for 3 h on friday and 6 h on saturday. you also receive an allowance of 20$ per week. you ear
mart [117]
Part time job                          Allowance 20/wk
 3 h fri
 6 h sat   

total 92.00              find:  per hr part time

92-20=72
3+6=9
72/9 = $8 part time per hour                          
4 0
4 years ago
The mean radius of earth is 6,371.0 kilometers and the mean radius of Earth's Moon is 1,737.5 kilometers.What is the approximate
Dmitrij [34]
D≈2π(6371-1737.5)

d≈9267π

d≈29113.1km (to nearest tenth of a kilometer)
4 0
3 years ago
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