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

Which information would be found in a press release? A. Bad weather is expected this weekend B. Child hurt in bicycle accident C. Company hires new vice preside
Gulliver's refusal to obey leaders' orders to enslave the inhabitants of Blefuscu could be a comment on A. the tendency of those in power to focus on their own
Which tense shows progression or continuation of actions or states of being?
Can you please help me with this
Nutrients supply the body with energy and maintenance materials. True Or Flase
What is another word for stanza?
A score of "3" on a par 5 hole is also known as a(n) _____. eagle birdie bogey par
In which branch of the government would you find the president, who enforces laws?
Which of the following would best classify John Brown? compromiser soldier agitator pacifist
how would you do 88.6 x5.01 _____ In traditional algorithm? Offering 54 points