1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
puteri [66]
3 years ago
10

What is the compounded interest after 3 years if you invest $10 000 and earn an interest rate of 5% per year?

Mathematics
1 answer:
denis23 [38]3 years ago
5 0

Compound Interest is the interest that is <em>compounded on a particular sum of money or investment over a given period of time.</em>

  • The interest for the first year is $1,576.25
  • The sum of money after adding the original to the interest is $11,576.25
  • The interest on the new total is $13,400.96

  • Step 1: Find the interest for the first year.

The formula is given as:

A = P(1 + r/n)^nt

P = Principal = $10,000

R = Rate = 5%

n = 1

t = 1

First, convert R as a percent to r as a decimal

r = R/100

r = 5/100

r = 0.05 rate per year,

Then solve the equation for A

A = P(1 + r/n)^nt

A = 10,000(1 + 0.05/1)^(1)(3)

A = 10,000.00(1 + 0.05)^(3)

A = $11,576.25

I = A - P

Hence:

I = $11,576.25 - $10,000.00

I (interest) = $1,576.25

  • Step 2: Add the interest to the original amount.

$10,000 +  $1,576.25

= $11,576.25

  • Step 3: Determine interest in the new total

The formula is given as:

A = P(1 + r/n)^nt

P = Principal = $11,576.25

r = 0.05 rate per year,

Then solve the equation for A

A = P(1 + r/n)^nt

A = 11,576.25(1 + 0.05/1)^(1)(3)

A = 11,576.25(1 + 0.05)^(3)

A = $13,400.96

Therefore,

  • The interest for the first year is $1,576.25
  • The sum of money after adding the original to the interest is $11,576.25
  • The interest on the new total is $13,400.96

To learn more, visit the link below:

brainly.com/question/16020930

You might be interested in
Please help!! I need to know this by today
mario62 [17]
Answer=60

Since the base of the prism is a right triangle, we can use the pythagorean theorem to solve for x.

a²+b²=c²
plug in the data
a²+24²=30²
a²+576=900
subtract 576 from both sides
a²=324
sq root
a=18
So x=18


The formula for the volume of a triangular prism is...

V=(area of the base)*(height)
V=1/2bh*H      where b=base of triangle h=height of triangle, H=height of prism
plug in the data that we know
720=1/2*18*24*H
720=216*H
divide both sides by 216
3 1/3=H

So x=18 and y=3 1/3 or 3.33 repeating

The product of the two

18*3 1/3=60

Answer=60


6 0
3 years ago
Read 2 more answers
a box contains 5 plain pencils and 3 pens. a second box contains 4 color pencils and 4 crayons. one item from each box is chosen
kodGreya [7K]
I think it would be 9 out of 16. 
4 0
3 years ago
Simplify the following expression into the form a+bi where a and b are rational numbers
hoa [83]

- 28 - 40i

note that i² = (√-1)² = - 1

expand product of factors using FOIL

= - 6 - 6i - 14i - 14i² - 20i + 36i²

= - 6 - 6i - 14i + 14 - 20i - 36

= - 28 - 40i


7 0
3 years ago
Simplify the expression: 19 - ( -43 )<br><br>Please help
lions [1.4K]

Simplify the expression:

answer: 62

Hope this helps! :)

~Zane

8 0
3 years ago
A coffee supply store waits until the orders for its special coffee blend reach 100 pounds before making up a batch. Coffee sell
Daniel [21]
Let x represent the number of pounds of $10.75/lb coffee used in the mix.
.. 10.75x +3.25(100 -x) = 5.65*100 . . . . . . total cost of coffee blend
.. x(10.75 -3.25) = 100*(5.65 -3.25) . . . . . .separate x-terms from non-x terms
.. x = 240/7.5 = 32

32 pounds of $10.75/lb coffee should be used
68 pounds of $3.25/lb coffee should be used
7 0
3 years ago
Other questions:
  • Lori can do 42 push-ups. This is ten less than twice the amount of push-ups her sister can do. How many push-ups can her sister
    8·2 answers
  • Dan and Dawn purchased a house for $69,500. They had to make a down
    15·1 answer
  • Estimate 10/12 − 3/8 using benchmark values. Your equation must show the estimate for each fraction and the final estimate for t
    13·1 answer
  • Help me with number question 7
    6·1 answer
  • The following table shows the salary of 7 people in an office last year. Name Income Andy £13500 Bevan £27500 Cheryl £13250 Deva
    9·1 answer
  • What expression is equivalent to 5/6 divided by 7
    14·1 answer
  • Leahs family is going camping her parents bring a tent. Which is in the shape of a triangular prism. what is the surface area of
    15·1 answer
  • Find x, y, and z for this triangle​
    12·1 answer
  • What is the length of the hypotenuse? 55 ft and 48 ft
    5·1 answer
  • Which functions have a maximum and are transformed to the left and down of the parent function, f(x)=x2? Check
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!