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3 years ago

PLEASE HELP SOMONE.

Mathematics

1 answer:

navik [9.2K]3 years ago

6 0

Answer:

So here is the answer to your question by using the formulae of compound amount.

Initial price( P) = $5000

Interest rate( R) = 2% pa

Time ( T) = 30 years

Compound amount (CA)=?

We have

CA=P(1+R/100)^T

=5000(1+2/100)^30

=$9056.807921

=$9057(Approx)

Thus, the money will be $9057 after 30 years.

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A person places $686 in an investment account earning an annual rate of 3.8%, compounded continuously. Using the formula V = Pe^

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Answer:

V = $1213.03

Step-by-step explanation:

We can determine the amount of money after 15 years with the given formula:

$V = Pe^{rt}$ (1)

Where:

V: is the value of the account in t years =?

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By substituting the above values into equation (1) we have:

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I hope it helps you!

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3 years ago