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Tomtit [17]
2 years ago
14

Maya deposits $5000 into a checking account that pays 0.75% annual interest compounded monthly. What will be the balance after 8

years? Round to the nearest cent.
Mathematics
1 answer:
Nana76 [90]2 years ago
5 0

~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$5000\\ r=rate\to 0.75\%\to \frac{0.75}{100}\dotfill &0.0075\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{monthly, thus twelve} \end{array}\dotfill &12\\ t=years\dotfill &8 \end{cases} \\\\\\ A=5000\left(1+\frac{0.0075}{12}\right)^{12\cdot 8}\implies A=5000(1.000625)^{96}\implies A\approx 5309.08

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Hello from MrBillDoesMath!

Answer:

(1/3) x = (5/6)


Discussion:

I think you are asking for this equation:

(1/3) x = (5/6) =>            multiply both sides by 3

(1/3) 3 x = (5/6) 3 =>      as (1/3) *3 = 1

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Yakvenalex [24]

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<u><em>"Convert F2 from hexadecimal to binary."</em></u>

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Step-by-step explanation:

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A hexadecimal number has base 16 (0,1,2,3,4,5,6,7,8,9 A,B,C,D,E,F).

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