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
ValentinkaMS [17]
2 years ago
9

Cooper is opening an online savings account to hold his $19,000 emergency fund. The online account pays 1.6 interest compounded

monthly. If Cooper does not deposit or withdraw any money from the account, how much will be in the account in 5 years ?
Mathematics
1 answer:
astraxan [27]2 years ago
5 0

Using compound interest, it is found that $20,581.36 will be in the account in 5 years.

<h3>What is compound interest?</h3>

The amount of money earned, in compound interest, after t years, is given by:

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

In which:

  • A(t) is the amount of money after t years.
  • P is the principal(the initial sum of money).
  • r is the interest rate(as a decimal value).
  • n is the number of times that interest is compounded per year.
  • t is the time in years for which the money is invested or borrowed.

In this problem:

  • The initial deposit is of P = 19000.
  • The rate is of r = 0.016.
  • Monthly compounding, hence n = 12.
  • 5 years, hence t = 5.

Then:

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

A(5) = 19000\left(1 + \frac{0.016}{12}\right)^{12(5)}

A(5) = 20581.36

$20,581.36 will be in the account in 5 years.

You can learn more about compound interest at brainly.com/question/25781328

You might be interested in
A cup is 6.4 cm tall, not including a 0.6 cm lip. Cups are stacked inside one another. You may want to draw a diagram to help yo
Tasya [4]
If you think about how it works when cups are stacked. you will begin with the height of the cup plus the height of the lip you would then add just the heigt of the lips until you get to the height needed. so your answer should be 19 cups
0 0
3 years ago
Twelve more than half of a number is equal to the number
tester [92]
Let's consider that number to be 'x'..
So, twice the number (2x) is 12 greater than than the half of the number.
So the equation will be like,
2x=12+x/2
Solving this further,
2x=(24+x)/2
=> 4x=24+x
=>4x-x=24
=>3x=24
=>x=8..
So the number is "8".
5 0
2 years ago
Sam scored 43 48 and 42 points on 3 test how many points should he get on the fourth test to get in average score of 50
antoniya [11.8K]
43+48+42=133

(133+x)/4=50
133+x=200
x=67
5 0
3 years ago
Add the first 12 terms of this sequence:<br> 15, 45, 135, 405, 1215, ...
UkoKoshka [18]

Answer:

Step-by-step explanation:

a₁ = 15

a₂/a₁ = 45/15 = 3

a₃/a₂ = 135/45 = 3

...

It is a geometric sequence with a common ratio r=3.

Sum of first 12 terms = a₁·(1-r¹²)/(1-r)

= 15·(1-3¹²)/(1-3)

= 15·(-531,441)/(-2)

= 3,985,800

7 0
3 years ago
en una guardería ay una matricula de 50 lactantes de los cuales 20 son niñas cual es la razon de niñas a niños en dicha guarderi
Svetradugi [14.3K]

Answer:

La razón de niñas a niños en la guardería es de 2 niñas por cada 3 niños.

Step-by-step explanation:

Una razón es una división entre dos números, generalmente en forma racional (fraccionaria). La razón de niñas a niños en la guardería es la cantidad de niñas dividida por la cantidad de niños de la dicha guardería, Es decir:

x = \frac{20}{30}

x = \frac{2}{3}

La razón de niñas a niños en la guardería es de 2 niñas por cada 3 niños.

7 0
3 years ago
Other questions:
  • Answer pls need for math tomorrow
    11·1 answer
  • If a bus traveled 180 miles in 3 hours, what was the average speed of the bus in miles per hour?
    6·1 answer
  • How do you write the algebraic notation when the scale factor is 3 ​
    5·1 answer
  • Please help i don't know
    11·1 answer
  • If m = 4 and m = -4, are they parallel or perpendicular or neither?
    15·2 answers
  • 8 divided by 173 round the answers to 3 decimals
    9·1 answer
  • Solve 26×6 using distributive
    14·2 answers
  • What is the Factors of 6
    5·2 answers
  • Sandeep visited Green Glen Apple Orchard yesterday. He picked a basket of fresh apples in the field. He also got 3 pounds of pre
    8·2 answers
  • Flashback Practice
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!