The amount of money the person would have in 8 years s $2541.74.
<h3>How much would the person have in 8 years? </h3>
The formula for calculating future value is:
FV = P (1 + r)^nm]
Where:
FV = Future value
- P = Present value = $2000
- R = interest rate = 3% / 12 = 0.25%
- m = number of compounding = 12
- N = number of years = 8 years
Value of the account in 8 years with monthly compounding = $2000(1.0025)^(12 x 8) = $2541.74
To learn more about future value, please check: brainly.com/question/18760477
Answer:
2010
Step-by-step explanation:
Answer:
Step-by-step explanation:
We proceed to show the procedure to calculate the given fraction into a decimal form:
1) Since numerator is less than denominator, the integer component of the decimal number is zero:

2) We multiply the numerator by 10 and find the tenth digit:

Then,

3) We multiply the fraction in 2) by 10 and find the hundredth digit:

Then,
And the remainder is:


4) We multiply the remainder by 10 and divide this result by the denominator to determine the thousandth digit:

Then,

This question asks us to write a decimal correct to 2 decimal places, which has the characteristic that is infinite periodical decimal. Then, the result correct to 2 decimal places is:
Answer: The Answer is 5 1/8.
Step-by-step explanation: