MakaylaU761217 MakaylaU761217

03-11-2022
Mathematics

contestada

Find the total amount in the compound interest account $10000 is compounded semiannually at a rate of 11% for 20 years. (Round to the nearest cent.)

Respuesta :

EvelinnD277321 EvelinnD277321

03-11-2022

The compound interest formula is:

[tex]A=P(1+\frac{r}{m})^{mt}\begin{cases}A=amount \\ P=initialValue \\ r=interest \\ m=\#timesCompounedPerYear \\ t=years\end{cases}[/tex]

Therefore:

[tex]A=(10000)(1+\frac{0.11}{1})^{20}=80623.12[/tex]

Answer Link

Otras preguntas

Give one example of when you would use the friendly numbers strategy to subtract.

What is the name of the period that has the digits 913,256.

Energy is released to be used by a cell when a phosphate group is removed from ADP to form ATP added to ADP to form ATP removed from ATP to form ADP added to AT

Money is useful to people because it is __________.Select one of the options below as your answer: a. a medium of exchange b. prestigious c. nice to look at

What happen when a cell divides?

Which type of energy drives the water cycle? a. solar b. wind c. geothermal d. nuclear

Choose the correct sentence. a. You paid your money and takes your choice. b. You payes your money and takes your choice. c. You pay your money and take your ch

Which word in the sentence is a participle? Do not cry over burnt toast! a. Do b. over c. burnt d. cry

What is the role of DNA helicase during DNA replication?

An astronomer would most likely study which of the following? A. ice B. rocks C. water D. space