A bank offers a savings account with an annual interest rate of 0.8%, with interest compounded monthly. If you invest $4,000 in the account, how much will be in the account after 10 years? g
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Ответ:
FV= $8,913.91
Explanation:
Giving the following information:
Annual interest rate= 0.8% interest compounded monthly
Initial investment= $4,000
Number of periods= 10*12= 120
First, we need to calculate the monthly interest rate:
i= 0.08/12= 0.0067
Now, using the following formula, we can calculate the future value.
FV= PV*(1+i)^n
FV= 4,000*(1.0067^120)
FV= $8,913.91
Ответ:
Explanation:
Sentence 1: I hope the dinner comes out perfectly, but even if it doesn't, I'm pretty sure they'll know how hard I tried. Sentence 2: Then we'll have coffee cake for dessert, which I made from scratch. Sentence 3: I am making my sister's favorite: roasted chicken, brown rice, and brussels sprouts.