loveflutetastic loveflutetastic

21-07-2017
Mathematics

contestada

Find the balance in the account. $4,100 principal earning 4%, compounded monthly, after 10 years

Respuesta :

Aliwohaish12 Aliwohaish12

21-07-2017

The formula is
A=p (1+r/k)^kt
A future value?
P present value 4100
R interest rate 0.04
K compounded monthly 12
T time 10 years
A=4,100×(1+0.04÷12)^(12×10)
A=6,112.41. ..answer

Answer Link

musiclover10045 musiclover10045

21-07-2017

$4100*(1+0.04/12)^(12*10)

4100*1.490832682=

$6112.41

Answer Link

Otras preguntas

Travis invests 25,000$ in a savings account that pays 2.75% simple interest. How much interest does he earn each year? A 787.50$ B 625.00$ C 657.50$ D 687.50$

please help a family spends $450 every month on food. If the family 's income each months is $1,800. what % of the family 's income is spent on food?

What does it mean to be a Christian?

Cara wants to make a stack of encyclopedias that will be 1 meter high. Each book is 5 centimeters wide. How many books will she need?

1/6 divided by 2/3 =

two fractions whose product is 5/8

5d - 13 < 32. I don't understand it . I need help .

(2x-1)+x=68 solve x please in for wednesday asap

Is it impossible for a trapezoid to have parallel sides that are the same length

What is produced during transcription? A.RNA molecules B.DNA molecules. C.RNA polymerase D.proteins