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rirnj005
11.10.2019 •
Mathematics
If $75 is invested at an interest rate of 8% per year and is compounded monthly, how much money is in the account in 15 years?
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Ответ:
$248.03
Step-by-step explanation:
The formula you use for this is as follows:
where A(t) is the amount after the compounding is done, P is the initial amount invested, r is the interest rate in decimal form, n is the number of times the compounding is done per year, and t is the time in years. Using that information and filling in our equation gives us this:
which simplifies down to
which simplifies further to
which multiplies to $248.0338938. Round to the nearest cent to get your answer.
Ответ:
you would have to cross multiply. 2,700=50x
then you want x by itself so you divide each side by 50.
x=54