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18.12.2019 •
Mathematics
Suppose antonio buys a cd for $500 that earns 3% apr and is compounded monthly. the cd matures in 1 year. how much will antonio's cd be worth at maturity?
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Ответ:
$515.21
Step-by-step explanation:
Because you're compounding monthly, use the formula:
where A(t) is the amount after the compounding,
P = $500
r = .03 (always in decimal form!)
n = 12 (monthly is every month, and there are 12 months in a year) and
t = time in years
Filling in our given info:
which simplifies to
A(t) = 500(1 + .0025)¹² which simplifies to
A(t) = 500(1.0025)¹² which simplifies to
A(t) = 500(1.030415957) so
A(t) = $515.21
Ответ:
36 inches squared
Step-by-step explanation: Multiply 9 by 4 to get the area of the top to make the top cover, which would end up as 36 inches squared.