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
USPshnik [31]
3 years ago
14

How much would $500 invested at 6% interest compounded monthly be worth after 5 years? Round your answer to the nearest cent. A(

t)=P(1+r/n)^nt
Mathematics
2 answers:
sergeinik [125]3 years ago
6 0
Please enclose the "nt" inside parentheses:  <span>A(t)=P(1+r/n)^(nt).

Then:  A = $500*(1+0.06/12)^(5*12) = $641.68</span>
horrorfan [7]3 years ago
3 0

Answer:

<h2>$674.42.</h2>

Step-by-step explanation:

Givens

  • The principal of the investment is $500.
  • The interest rate compounded monthly is %6 or 0.06.
  • The time invested is 5 years.

To solve these type of problems, we need to recur to Interest Compound Formula, which is

A(t)=P(1+\frac{r}{n} )^{nt}

Where A is the total amount of money after the time compounded, P is the principal, r is the interest rate, n is the number of compounded periods in one year and r is time in years.

So,

P=500\\r=0.06\\n=12\\t=5

If the problem states that the interest is compounded monthly, then there are gonna be 12 compounded periods in one year. Replacing all these values, we have

A(t)=P(1+\frac{r}{n} )^{nt}\\A(t)=500(1+\frac{0.06}{12} )^{12(5)}\\ A(t)=500(1.005)^{60}= 674.42

Therefore, the total amount of money after 5 years is $674.42.

You might be interested in
Two friends are collecting stuffed animals Veronica has 5 more than
Ronch [10]
We need to see the rest of the question...
3 0
3 years ago
Read 2 more answers
Find the surface area of the regular pyramid.<br><br><br><br><br> mm2 help meeeee pls
Eduardwww [97]
\bold{ANSWER:}
1240.4 mm^2

\bold{SOLUTION:}

7 0
2 years ago
TRUE OR FALSE LOOK THE PHOTO RENAE HELP ME FIRST LOL
Lunna [17]

Answer: theres no photo ?

Step-by-step explanation:

7 0
3 years ago
What is the missing term in the factorization?
jasenka [17]
  • <em>Answer:</em>

<em>the missing term is 5</em>

  • <em>Step-by-step explanation:</em>

<em>Hi there ! </em>

<em>12x² - 75 = </em>

<em>= 3(4x² - 25)</em>

<em><u>use formula</u></em><em> a² - b² = (a - b)(a + b)</em>

<em>= 3(2x - 5)(2x + 5)</em>

<em>= 3(2x + 5)(2x - 5) </em>

<em>the missing term is 5</em>

<em>Good luck !</em>

4 0
3 years ago
I need help again. :( plzz help
makkiz [27]

Answer:

<em>4 white horses.</em>

Step-by-step explanation:

First, you need to find the total of the first set of horses (basically how many total were in the table).

<em>~ 3+2+9+1 = 15</em>

Next we need to find how many horses were white horses out of these 15 horses. In short the proportion would be White Horses/Total Horses.

<em>~  </em>\frac{3}{15}<em> (or  </em>\frac{1}{5}<em>, simplified)</em>

Now, all we need to do is create the proportion with 20 as the denominator (in this case, 20 will be the total horses, and we just need to find <em>X</em>, or how many horses are expected to be white out of all of those horses). The proportion will look somewhat like this:

~  \frac{1}{5} = \frac{x}{20}

The final step is to multiply across (1x20) then divide that number by the 5 to find <em>X</em>.

<em>~ 20÷5 = 4</em>

Anyways, that means it would be expected to have <em>4</em> white horses out of 20 total. Hope this helped ^-^

3 0
3 years ago
Other questions:
  • An automotive manufacturer wants to know the proportion of new car buyers who prefer foreign cars over domestic. In an earlier s
    10·1 answer
  • I don’t even know what i’m doing anymore. aren’t there supposed to be two answers??
    7·1 answer
  • Simplify 1/3 12x - 6<br> A. -2x-1<br> B.-2x-8<br> C.-x+4<br> D.3x+10<br> E. 4x-2
    14·1 answer
  • A 2-column table with 7 rows. The first column is labeled x with entries negative 4, negative 3, negative 2, negative 1, 0, 1, 2
    15·1 answer
  • PLEASE HELP ASAP: <br> What is the exact volume of the cone?
    14·1 answer
  • Please Help Me!!!!<br> Max Points
    11·2 answers
  • a student finished 8 of her homework problems in class If the ratio of problems she finished two problems she still have left wa
    8·1 answer
  • Choose ALL terms like 5x?
    11·1 answer
  • Order these expressions for least to greatest:
    11·1 answer
  • Using addition rules, show how to add the two real numbers. 7 + (-14)
    14·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!