alexismarie4881
02.06.2020 •
Mathematics
Please help!
Zack deposited $9,129 in a savings account earning 5% interest, compounded annually.
To the nearest cent, how much will he have in 5 years?
Use the formula B = p(1 + r)t, where B is the balance (final amount), p is the principal (starting amount), r is the interest rate expressed as a decimal, and t is the time in years.
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Ответ:
Given Information:
Principle amount = P = $9,129
Interest rate = r = 4% = 0.05
Period in years = t = 5
Required Information:
Balance in 5 years = ?
Balance in 5 years = $11,651.17
Step-by-step explanation:
Using the formula given in the question,
Where B is the final amount, P is the initial amount, r is the interest rate and t is the number of years
Therefore, Zack will have $11,651.17 in 5 years by investing $9,129 in a savings account at 5% annual interest.
Ответ:
well I presume this si simple interest. If its compound interest the answer is different:
simple interest
4500(interest)(years) <= 7020
4500(.03)t<=7020
225t<=7020
t<= 7020/225
t<= 31.2
so you grade a close dot at 31.2 and shape to the left of it