Mathematics: Ihave this class really soon. you deposit $9000 into a bank account that pays 1 46% annual interest compounded daily how much interest does the account earn after 3 years?

Ihave this class really soon. you deposit $9000

Ответ:

paulesparsa6

15.03.2022

This can be solved with the equation
$A=P(1+\frac{r}{n} )^{nt}$
where A is the new/resulting balance

insert your interest r=0.0146
the starting amount P=9000
the number of times it gets compounded per year n=365 (every day)
and the number of years t=3

insert everything and calculate the balance in 3 years:
$A=9000(1+\frac{0.0146}{365} )^{365*3} \\
=9000(1.00004)^{365*3} \\
=9000*1.0447...\\
=9402.95$

the amount earned over 3 years is then the new balance- the current balance:
9402.95-9000=402.95$ earned over 3 years

0,0(0 оценок)

Ответ:

Hockeypro1127

19.03.2020

Mathematics

Has become the leader of this discussion

Step-by-step explanation:

https://quizlet.com/294892114/english-12-exam-review-pt-3-flash-cards/

0,0(0 оценок)

Ihave this class really soon. you deposit $9000 into a bank account that pays 1 46% annual interest compounded daily how much interest does the account earn after 3 years?

Ответ:

Ответ:

Ask your question to the AI advisor

More tips

Answers on questions: Mathematics

Ask an AI advisor a question