brmelanie06 brmelanie06
  • 03-04-2020
  • Mathematics
contestada

You deposit $3,500 into an account which yields 4% interest. If the account is compounded monthly, how much would you have in 6 years?

Respuesta :

justneedanswers17 justneedanswers17
  • 03-04-2020

Answer: $4,447.49

Step-by-step explanation:

(1) 3500 (1 + 0.04 / 12) ^ 12 x 6

(2) A = 3500  x 1.003333^72

(3) A = 3500 x 1.270711

(4) A = 4,447.49

Answer Link

Otras preguntas

Why can't we change the subscripts in balancing chemical equations?
How do you think the people conquered by the Romans felt about their new rulers
A wet towel is hanging on a clothesline in the sun. What process does the towel dry by?
rewrite the expression without using a negative exponent 6m^-2
Can you make this into an algebraic expresion
If a+b=6 and a-b = 4, what is the value of 2a + 3b?
rewrite the expression without using a negative exponent 6m^-2
Why was capturing egypt's suez canal so important to the axis powers?
What evidence in the declaration is there of religious faith? How do you think this religious faith influenced the ideals expressed in the declaration
How Do Clownfish Catch Their Food?