fairytailxo fairytailxo
  • 02-09-2017
  • Mathematics
contestada

You put $150 in a bank account that offers a 1% interest rate, compounded annually. How much will you have after 10 years?

Respuesta :

jdoe0001 jdoe0001
  • 02-09-2017
[tex]\bf \qquad \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}\to &\$150\\ r=rate\to 1\%\to \frac{1}{100}\to &0.01\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\to &1\\ t=years\to &10 \end{cases} \\\\\\ A=150\left(1+\frac{0.01}{1}\right)^{1\cdot 10}[/tex]
Answer Link

Otras preguntas

One-fourth of a number is five-eighths. Find the number.
Los niños, niñas y mujeres del pueblo se visten con la ropa más bonita que tienen. Es común que las personas que van a este evento especial se vistan con ropa b
Which phrase best defines mood in literature? O A. the location of a story ОВ. the atmosphere of a story ОС. . the attitude of the writer OD. the traits of the
how is conflict created?​
What is the term for the materials from which an artwork is made, together with compositional elements such as line, color, texture, and shape?
All living things are made of matter- the smallest unit of: ____
What is a biogeochemical cycle?
find the inverse of the following function g(x) = -2x+3
how many letters make up the music alphabet​
A patient needs 40.0 mg of an antibiotic per kilogram of body weight each day. If the patient weighs 55 kilograms, how much antibiotic, in milligrams, should th