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balu736 [363]
3 years ago
15

You invested $52.400 at 6% compounded annually for 5 years. What is your total return on this investment

Mathematics
1 answer:
Tems11 [23]3 years ago
5 0

Answer:

$15,720

General Formulas and Concepts:

<u>Pre-Algebra</u>

Order of Operations: BPEMDAS

  1. Brackets
  2. Parenthesis
  3. Exponents
  4. Multiplication
  5. Division
  6. Addition
  7. Subtraction
  • Left to Right

<u>Algebra I</u>

Simple Interest Rate Formula: A = P(1 + rt)

  • <em>P</em> is principle amount
  • <em>r</em> is rate
  • <em>t</em> is time

Step-by-step explanation:

<u>Step 1: Define</u>

<em>Identify variables.</em>

<em>P</em> = $52,400

<em>r</em> = 6%

<em>t</em> = 5

<u>Step 2: Find Current Investment Value</u>

  1. Substitute in variables [Simple Interest Rate Formula]:                                 A = 52,400(1 + 0.06 · 5)
  2. [Order of Operations] Evaluate:                                                                      A = $68,120

<u>Step 3: Find Total Return</u>

  1. Set up:                                                                                                               R = A - P
  2. Substitute in variables:                                                                                     R = 68,120 - 52,400
  3. [Order of Operations] Evaluate:                                                                      R = $15,720
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brainly.com/question/11624671

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